Wine Hub extends reach to new customers with latest partnership
Wine Hub, a leading wine business software owned by Wine Owners, has teamed up with management and trading exchange, The Wine Collector from Nickolls & Perks.
The move will help both businesses to extend the reach of their customers, the companies said, by allowing businesses on Wine Hub to tap into wines that are offered for sale by private collectors.
It covers wines that are professionally stored in bonded warehouses managed by the Wine Collector team as these are already verified, can be immediately inspected, and the settlement process completed quickly, with wines transferred immediately between bond accounts.
Nick Martin, CEO of Wine Owners, said the move would help fine wine wine businesses engage with an “ever-growing addressable market”, helping with market liquidity and providing opportunities for business growth in a challenging market.”
Wine Collector, which is used by wine enthusiasts and private collectors, allows collectors to list duty paid, as well as in bond wines and tracks their collection or inventory.
The move means Wine Hub users will have access to mature and rare wines at good prices, enabling them to bid on exchange offers for sale from within Wine Hub’s trading dashboard, seeing offers for sale in the context of their own stock positions, market pricing and margin opportunities. They can also offer wines for sale.
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Wine Hub is extending this roll-out with an eCommerce integration of Wine Collector’s offers for sale, as well as allowing its user to post their client consigned wines into the Wine Collector Exchange.
Will Gardener, manager director of Nickolls & Perks said the functionality offered similar user experience to the established Liv-Ex integration, “which we have been using since we adopted Wine Hub and which has led to increased activity”, he said.
“We are confident other Wine Hub members will similarly enjoy the improved transparency of the Wine Collector private client offerings, with the benefit of real-time stock control potentially extending their own portfolios offerings, without the risk of double selling.”
It follows on from Wine Hub’s connection to LiveTrade, the fine wine trading platform powered by Bordeaux Index, which went live earlier this month.
It follows a general trend for businesses and suppliers to establish ecosystems that leverage value from working together, as identified by the db conference last October.
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