As with buying wine through the Cavex platform, selling wine is just as easy. Cavex only allows trading of In Bond stock stored within the UK. A UK storage account is therefore needed. Members will not be required to move stock to the Cavex storage account at any time. This allows you, the member, to remain independent from Cavex, in control, reducing your costs, whilst retaining full ownership of your stock until a sale is completed.
The easiest way to sell wine is by uploading all or part of your portfolio with Cavex. It is free to do so, accessible 24 hours a day and you may provide as much information as needed. Remember that stock should only be offered from your default storage account if you have more than one warehouse location. Once you are ready to sell, you can offer the chosen wine straight from the portfolio screen into the live market place. Simply follow this step-by-step process:
- Choose the wine, vintage, case size you wish to offer and ensure the condition is appropriate to the contract type, A, B or C you are offering with photos where required (please see the Cavex contracts page for further details)
- Select the quantity to sell and set an offer price per case appropriate to the market. You may instead match a live bid if one exists
- Set the notification percentage parameters so Cavex only notifies you by email when a bid is made within those parameters. You can set any percentage you wish above 1% and altering this number can help manage the number of email notifications you receive automatically
- Confirm you are happy for the stock to be made instantly live for sale. You will be entering a binding contract if your offer is matched
- You will be notified by email and via the internal message service when a bid is made within your set parameters
- When a trade is matched, a contract for sale invoice will be sent and you will be informed of funds received or pending. The commission rate and associated VAT on the service will be clearly laid out on the invoice with the final amount due to you displayed
- When funds have been received into the Cavex segregated client account on your behalf, delivery instructions including the buyers default bonded storage account details or export shipper will be sent to you
- You will be asked instruct the wines immediately and inform Cavex of the dispatch or collection number through the platform
- When the wines arrive and the Buyer is satisfied with stock condition accepting the delivery via their account page, Cavex will release the funds due, less the commission fee and VAT to the sellers nominated account
- The Seller can follow every stage of the transaction through their account page. The result, both parties are satisfied that the best price has been attained with quick delivery and quick payment
If you have further questions or would like clarification on any point, please do contact us and we will be happy to talk to you.
CaveX Cru is our newly launched service offering members of CaveX the opportunity to buy exclusive parcels of affordable fine wines for everyday drinking.
No need to worry about in-bond, duty-paid, VAT or delivery. We just find great wines from some of the world’s top producers that are drinking perfectly now – all delivered direct to your door.
The Portfolio Management Partnership
More than ever, keeping a handle on what’s in your portfolio, its provenance, and its value is crucial to maintaining the integrity of your investment wines in-bond. Easy if you have a handful of cases and time on your hands. Not so easy if your collection is significant or you aim to invest more.
This is the reason we are launching our Portfolio Management Partnership service. Working with a trusted partner with over 30 years of experience in the fine wine business, this service will help you manage your portfolio, guide you on future investments, allow you to trade in only topflight investment wines and most importantly offer you access to one of the most secure wine storage services available to date.
The Davies Turner Fine Wine team offers consultancy in meeting your individual requirements, building long-term partnerships with their clients, suppliers and partners worldwide. Founded in 1870 and still remaining in private ownership, they have over 140 years experience in freight forwarding being the UK’s leading independent freight and logistics provider. They have become the largest […]
Connoisseur International is a specialist global provider of logistical solutions concerning wines and spirits based in London. They provide a variety of services including worldwide door to door export and import air freight, express courier, refrigerated ocean and road services. Collections are available on a daily basis utilising their own fleet of vehicles from all UK bonded […]