Thursday, November 19, 2009

Vinfolio Offers $3+ Million Pristine Wine Collection in Fixed Price Auction

Seller chooses Vinfolio’s innovative approach over traditional live auction house

Vinfolio’s fixed-price auction model allows sellers to achieve a higher return on their collection based on pre-agreed prices reflecting current market values.

San Francisco, CA (PRWEB) November 19, 2009 -- Vinfolio, the foremost source for fine wine, announces that it is now offering for sale, solely on its ecommerce site, a pristine wine collection valued at over $3 million. The 6,000 bottle collection consists of only 101 unique wines, with over 40 items having available quantities of 5-30 cases each including top Bordeaux, Burgundy, and California wine. Such collections have historically been offered through traditional live auction houses, however the seller chose Vinfolio’s alternative fixed-price auction. Vinfolio’s innovative approach delivers immediate, and 24-hour, online selling to a large, international customer base of wine collectors, including a strong presence in Asia through Vinfolio’s Hong Kong operation.

News Image“Vinfolio’s fixed-price auction model allows sellers to achieve a higher return on their collection based on pre-agreed prices reflecting current market values. Inherently, the convenience of an immediate purchase confirmation translates into a buyer willing to pay higher prices. No buyer’s premium, no fixed bidding increments, no risk of wasted bidding efforts,” says Vinfolio CEO and founder, Stephen Bachmann, “Additionally, unlike traditional auction houses, Vinfolio starts selling immediately after wine is inspected as there is no auction catalog to print and mail a month before a live auction. Vinfolio also pays as the wine is sold, rather than waiting until 30-60 days after the auction takes place. In short, it is a faster, simpler and much more profitable way to sell wine.” Additionally, Vinfolio ensures greater price certainty as demand is not dependent on an “event-driven” approach like traditional auction houses.

With over 2,000 items for sale in its online wine store (including fixed-price auction items), Vinfolio sources much of its wine from private collectors. With a record of success selling larger collections, Vinfolio offers a compelling option for those selling part or all of their wine collection. Benefits to sellers include better realized prices, lower total fees, faster payment, global reach and aggressive marketing support, price certainty and guaranteed buyout of the balance of a collection after a 90% sell-through threshold is reached. Requiring a minimum aggregate retail value of $10,000, a per bottle retail value of at least $40 (average is over $200), and a professional score of 90 points or more on each wine, Vinfolio also enforces strict inspection guidelines to ensure its provenance and to guarantee the wine it sells. For more information about Vinfolio’s fixed-price auctions, please visit: www.vinfolio.com/sell

About Vinfolio
Vinfolio is the foremost source for fine wine, serving wine lovers, enthusiasts and collectors worldwide. Through the Vinfolio Marketplace and wine store, the company offers an unprecedented supply of over 44,000 unique wines. Combined with Vinfolio's full complement of services and resources to find, buy, sell, manage and enjoy fine wine, Vinfolio delivers on its mission of "fine wine, finer service". In 2009, the company launched a series of services focused on expanding marketing and sales channels for the wine trade. Founded in 2003 and headquartered in San Francisco, the company also has offices in Hong Kong.

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Posted by prolink at 1:45 AM

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