Frequently Asked Questions.

How does the matching event process work?

Most matching events run for twelve hours to maximise all potential global interest at a reasonably accessible time of everyone’s day. No orders are matched until the close of the event and orders are then matched by an algorithm on a random basis to maximise the number of successful customers’ interests. When placing an order, it is possible for customers to specify it as an “all or nothing” order to avoid the possibility of selling or buying a small number of bottles.

What is the settlement process?

At the close of each matching event, all successful buyers and sellers receive a notification via mobile pop-up and email. Buyers are then requested to send funds to their account at a third party escrow service Mangopay (opened automatically as part of the VinumVersa registration process) whilst sellers are requested to instruct the bonded warehouse where the sold wine is held to transfer the wine to VinumVersa ownership. When both are confirmed, VinumVersa arranges for the buyer’s funds to be remitted to the seller and the wine ownership to be transferred to the buyer and potentially delivered to the warehouse of their choice.

How are the prices for the wines established?

VinumVersa analyses data from auctions, exchanges and other sources and overlays current and likely future demand and supply trends for individual wines, regions and producers to set what we believe to be the perfectly balanced price between buyers and sellers. Set it too high and we would get no buyers, too low and we would get no sellers – it’s in our interest to get it right!

Are the matching sessions all based on single bottles? Does this mean original packaging will be split? 

Depending on the wines in question, matching sessions will be run for single bottles, 3s, 6s or 12s. As mentioned above, customers are able to place orders which specify whether they are prepared to buy or sell a smaller number of bottles than their total order which may result in original cases being split.

How do I know what condition the wines I am purchasing are in? 

All wines offered for sale must have been stored in bond at a UK approved bonded warehouse since shipment from the producer.

Can I request a matching event for a wine or series of wines I am interested in purchasing or selling?

Yes, this functionality is being developed currently.

Can I upload a portfolio of wines into the VinumVersa app so that I get notified when any of them are appearing in a matching event?

Whilst this is not currently possible, this functionality is also on the roadmap for development.