UK: Successful Trading on World's First Fine Wine Stock Exchange
Since the launch of trading on May 31st 2000, the response to the revolutionary stock exchange for fine wine has exceeded all expectations. There are currently 1500 guest registrants and over a hundred registered and approved traders, coming from all over the world, including America, Canada, Europe and Asia Pacific.
In just the last 12 working days, uvine has credit checked and authorised trading accounts with a potential value of £12 million. If demand continues at a similar rate, by the end of the year there should be in the region of 2,700 traders taking advantage of the low trading costs (3.5% fee).
£1 million worth of wine is currently on the site with a further £4 million being checked and verified for adding over the next few weeks. Exciting additions are mature Corton Charlemagne from Domaine, Bonneau du Martray, Puligny Montrachet '98 from Sauzet, '97 Volnay from Marquis D'Angerville and the great Tiers Chardonnay from Brian Croser's Petaluma Estate. Argyle, the highly rated producer of some of Oregon's best Chardonnays, Pinots and sparkling wines which are regularly served at the White House, will be the first Oregon winery to offer wine on the site. Also offered is Almaviva '97, the Chilean investment of Mouton Rothschild and Jordan '95 Chardonnay, as well as a range of Bordeaux and Champagne including Dom Perignon '90.
Commenting on the start of trading, Christopher Burr, Chairman of uvine said:
"I am delighted that trading has started so successfully on the uvine site. We have already proved the ability of the site to match bids and offers and I look forward to more people searching out their wine requirements through the bid system. Interestingly, people are placing bids for a particular wine even if there is no offer, encouraging sellers to come forward. I am also delighted with the ease and simplicity of the exchange mechanism."
Andrew Halstead, Chief Executive, added:
"With the commencement of trading, uvine is asserting itself in the world of wine as a convincing alternative to the traditional and lengthy methods of buying fine wine. The amount of bids and offers already on the site suggests that uvine's vision of a transparent stock exchange for wine is being embraced by the wine world."
Rollin Soles, President Argyle Winery comments:
"It is easy to recognise the history-laden 'diamond' wine properties. uvine displays its cutting edge wine knowledge by offering properties like Argyle's small production, 'diamond in the rough' wines; only lacking history to become 'diamond quality' to the World of Wine Connoisseurs"
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