Selling Your Wine Early at Vinovest

At Vinovest, you can sell your wine at any time. We strongly recommend selling when wine reaches maturity but it is ultimately your choice. If you decide to sell your wine before the recommended selling window, here are a few things you should know.

What You Need to Know

Selling wine is most similar to selling a house or car. While the emergence of online marketplaces has made selling easier, it can still be a multi-month process that requires patience and negotiation.

The selling timeline looks something like this:

The process can take months because wine has less liquidity than stocks. (Re: wine doesn’t sell almost instantly.) 

That’s because wine buyers often purchase wine once per month or quarter. As a result, it may take several months to sell your wine. The more of these cycles you go through, the better chance you have of getting multiple bids on your wine. 

Here are four additional insights to know about the selling process. 

1. Vinovest uses an open marketplace 

Your wine is listed on an open marketplace for wine retailers, merchants, and collectors around the world. Vinovest operates the platform but does not control the supply or bids. 

2. Selling early means more competition

There are more young wines than mature wines. The high supply means young wines tend to have less demand and liquidity. 

3. Older wine tends to sell faster

Inversely, mature wines tend to have greater demand and liquidity because they’re close to peak drinkability. If your sale is time-sensitive, focus on selling your oldest vintages first. 

4. The age of your wine matters

Several factors influence how long it takes to sell wine, including age. Let’s use Château Ausone, as an example. A recent vintage (2022) has a significant spread between the highest bid and lowest ask because there are a lot of cases for sale. This gap means buyers and sellers have little incentive to meet in the middle.

On the other hand, the older vintage (2002) has a small spread between the highest bid and lowest ask. This makes it easier for buyers and sellers to reach an agreed-upon selling price. This is normal. Mature wines tend to have greater demand and liquidity than younger wines. 

Conclusion

Patience goes a long way. Taking the time to collect multiple bids can help you reduce the gap between the bid and ask while maximizing your potential proceeds. Remember the selling process has just begun. 

Frequently Asked Questions

How do I accept a bid?

If someone matches your asking price, your wine will sell automatically. If you want to accept a bid that’s below your asking price, you can lower the price of your wine to match the bid. 

How do I cancel my listing?

You have 100% control over your wine listings, including the power to delist them.

Step 1: Click into your account settings in the top right corner

Step 2: Click “List My Wine” on the left side

Step 3: Select the “View Listings” button at the bottom of the page

Step 4: Under “Listed For Sale,” click the wine that you want to delist.

Step 5: Select “Remove Listing” and then “Confirm Remove Listing.”

How will I know when my wine is sold?

We will send you an email letting you know your wine has been sold and at what price.

Do I have to regularly update my listings?

No. With the “Flexible Pricing” feature, you can list your wines once and have the prices updated based on marketplace competition.

Why did I receive a bid below the current fair market value?

Just like in any market, there is a spread between the supply of wine and the demand for it. For young wines, this gap can be significant. 

Some buyers may bid low if they are patient and believe the seller is motivated to sell quickly. However, if a seller is willing to wait, they may receive higher bids.

My wine is pending sale. How long will it take to receive my funds?

Vinovest will send your funds as soon as the liquidation is complete. On average, that process takes 15 to 30 days. A pending sale means there is a buyer for your wine and our team is actively working to finalize the invoice, sale, and transfer of that wine.