$1b of wines on wineowners.com

Discussion in 'UK Wine Forum' started by Tom Cannavan, Nov 6, 2018.

  1. Tom Cannavan

    Tom Cannavan Administrator

    Not bad in just a few years since their standing start, as Wine Owners (sponsors of wine-pages for seveal years now), which organises and tracks the personal wine collections of high net worth collectors and wine enthusiasts, has announced that the platform has broken through the $1bn barrier of wines organised and tracked by them, according to forumite Nick Martin, co-founder and CEO.

    Their service is also available via 20 partner brands including Corney & Barrow and 67 Pall Mall. Wine Owners is a peer to peer trading exchange and Nick says the average value of the wine collection of its users stands around $55,000, though of course that encompassed people new to wine with a few dozen bottles, up to multi-million dollar collections.
    Keith Prothero and Graham Harvey like this.
  2. Well done to Nick.

    Even if you are not a member, I would strongly suggest having a look to see what is available to buy as there are some gems liisted at very attractive prices.
    Frederick Soddy likes this.
  3. Wow that is some going. I am surprised a little at the amounts but happy user of the site though the actual trading is something that needs some work and to get a bit more liquidity. You will find wines generally at or below market price and its been good to see the site and setup improving slightly over the last few years.
    Hopefully the next year sees it emerge more as a trading platform where I feel it could really excel especially given the amount of stock listed.
    to keep track of all your cellars in one place its very good though I use cellar tracker as well for some stuff, mainly home and locally stored.
  4. And that’s just Keith’s cellar ;)
  5. Thanks very much Tom. Graham, Mike, we are indeed getting there. And lots more initiatives over the next year to further bolster lots of aspects. I shan't spill the beans just yet, but we're taking on several more technical folk to keep up. If you know anyone let us know!
    Tom Cannavan likes this.
  6. Thanks Nick. I was going to email as was on iPad again adding a new purchase and “sort my wines by date added “would be really useful. :)
    I know should have emailed support / feature request if there’s one but your here,

    Look forward to next year and continued improvements and success. Well done getting this far.
  7. Nice, thanks Mike, I like it!
  8. Hi Mike, that enhancement you asked for is now live, so you can select and sort your collection by 'Recently Added' in the Sort options (they are all there in advanced search).

    Attached Files:

  9. I'm also a fan of WO; excellent way to get a reasonably accurate current valuation of a cellar. Looking forward to Nick's new features.

    As regards trading, I've found WO to be a curate's egg; sometimes the net proceeds (after commission/fees) are more attractive than the broker-sponsored platforms (BBX, BI LiveTrade etc) but sometimes they are not. Bid-offer spreads are still stubbornly high. Settlement of a sale of wine held in one's own Octavian account takes ages, whether you transact via WO or BI/BBR.
  10. I'm pleased to report James that Octavian's transfer times are much improved vs the last 12 months. They have scaled up their team and turnaround times are back to, or close to, normal, so as we are entirely dependent on the warehouses for transfer times from seller through Wine Owners to buyer our settlement times improve correspondingly. LCB/ Vinotheque had a slow number of months too and also are back to normal. As a peer to peer platform that depends upon the speed at which industry logistics operate, our settlement times extend when the warehouses run slow. Anyhow good that they are all now getting through things much faster.

    As we continue to add new members and buyers, and undertake integrations with 3rd party ecommerce sites, the buy side of the community increases quite rapidly and brings with it increased liquidity and that's been very noticeable in the last few months.

    Cellar management is at the heart of everything we do and offer, and it's great that you enjoy the collection organisation and tracking side of the platform offering, James. It'll be Q1 onwards when we start to rollout the enhancements/ new features.
  11. This thread has prompted me to pull together my cellar notes in order to set up account - hopefully the data provided by the site backs up the arguements I use with the wife to buy more wine.....
    Graham Harvey and Alex Jagger like this.
  12. Congratulations Nick, I used WO platform quite a lot before I was an investor and have been very happy with the service and prices obtained,both as a buyer and seller .
    Be good though when the promised App is available as it should help to simplify the process
    Last edited: Nov 8, 2018
  13. Shhh, please don't tell anyone Keith! It's not finished yet and it ain't done til it's done. Please don't tell anyone it's going to be a native App, extremely simple and stripped down and therefore easy to use to buy and bid (and browse your collection). IOS gets completed in the next few weeks and then we start Android. We won't release until both are done and until we are happy with it's behaviours.
  14. Good to know. If you need a Beta / GM tester let me know as the buy / sell is overly unclear and not as easy as it should be.
    An app would be a great way to resolve that even if the main UI isn’t modified or there is a “simple and advanced” layout.
  15. Tom Cannavan

    Tom Cannavan Administrator

    Can you explain yourself? I've never known an IT project to fall behind schedule or be delivered late before.

  16. Ongoing...never late. :)

    Mike, consider yourself a co-opted tester!

    We know the trading exchange layout is a bit too financial services trading in its layout for many members, and we shall change that next year too (actually a consumer view versus a trade view which is already coded) but that will take a few more months to deploy as we have lots of SaaS customers who we are implementing branded inventorying and collection management systems for and they pay the bills.
    Alex Jagger and Keith Prothero like this.
  17. Nick, I know I only signed up today, but I do like the layout. One option may be to provide people with a choice, although I appreciate this is harder to maintain as time progresses as will involve coding two sites effectively.
  18. Thanks for the feedback James. Appreciated. In fact we can handle multiple interfaces via Preferences/ settings off the same code base. We only have one code base for all 20 white label branded sites already anyway so we don't have to worry about maintaining multiple versions. The challenge is to decide the defaults per member type that they can change to their preference and ensure navigation is kept reasonably simple. We already offer different views on the exchange: the listings view and the grouped or exchange view, so we'd be adding another and be changing the controls for switching from tabs to something more intuitive, maybe.
    James Redford likes this.
  19. Nick

    Is more volume now trading through peer to peer exchanges than traditional Auctions?
  20. How is the Apple vetting process going, or have I missed something? Great product BTW, just needs further traction.
  21. Hello Tom. Getting there, thanks, but with one major change... One of Keith's bugbears has been the matching bid process, which we'd designed for non-fungibles, but which results in a process that users often don't expect; so we are taking the main platform through a massive trading exchange upgrade in March to simplify everything, including the match bid process, which requires the introduction of buy and bid preferences, a new interface choice for private buyers, and a hugely improved price discovery process. It's going to be wonderful.

    However what that means is that the web services from our database for the App will have to change with those process changes (you do want one database serving the App and the website), and we don't want to release with a workflow that will change soon afterwards. We'd rather wait and release with the improved workflow. So realistically the IOS App will now be out sometime in April. We'll then get feedback from IOS users on the App before deciding on an Android App - Android only accounts for 25% of our users so we want to make any tweaks for Apple users first and then do one quick build for Android - assuming that engagement via the App is high enough to warrant it.

    Traction is growing, we've seen a significant upturn of activity in a sticky secondary market, and some big announcements are coming out soon on more industry partners who shall be using our technology.
  22. Great, can't wait to see it.
  23. It’s taken a long time Nick but I am sure it will be worth the wait !!
  24. Very good to hear, we have interacted and I’ve spoken to a couple of people at WOs and the way bids are handled with liquidity were a struggle. I removed my last 15 or so items for sale a little while ago due to this as were finding other options elsewhere.

    Now in principle this is the perfect platform for private and trade to mix and if there is a small uptick in people like myself easily buying and selling good bonded stock I think there will be hopefully a much more utilised platform and that circle just closes itself.

    Very much looking forward to the revamp and the app will be very interesting.
  25. Congratulations Nick and the very best for the future!

Share This Page