Wine Owners trading platform now live

Wine Owners has gone live on its fine wine trading platform, which is open to both private and trade customers.

Now live: wineowners.com

Nearly 400 different wines are open to bids on the Wine Owners exchange. They include Angelus 2010 (offered at £2409), 2002 Dom Perignon (offered at £1200) and Les Forts de Latour (offered at £1584).

‘The site is working well and our first transaction was a duty paid case of Leoville Poyferre 2000 that sold at £569,’ Wine Owners founder and executive director Nick Martin said.

Another trading platform, Cavex, has around 300 wines on its platform, totalling nearly 1000 cases and worth around £750,000.

‘Significantly, 215 of those wines have now received bids, said Cavex’s co-founder and operations director, Daniel Haigh. ‘The bids have been building from week to week and are clearly starting to catch up with the offers.’

Trades are also going through on the Cavex site. In the last 24 hours, it has seen successful bids on several wines including Clos Fourtet, Pavie, Rieussec, Opus One, Mouton and Lynch-Bages.

On Wine Owners, trade customers will be charged 2.5% commission for both buying and selling, with private customers paying 2.5% when buying, but 6.5% for selling.

Cavex, which launched its trading platform in April, charges 3% to buyers and sellers, whether trade or private.

Written by John Stimpfig