By Victoria Hines
Several
start-ups have recently
emerged to compete with the online trade in fine wine. The market’s newest
competitor, WineBourse, aims to be the “Charles Schwab” of the wine trade. Many
U.S. companies, such as WineBid.com have selected a weekly auction model,
resulting in a fine Rosé being auctioned off for almost $43k. Meanwhile,
European competitors have rejected the auction approach in favor of a system
that allows parties to select when to buy and sell. The cost of these services
varies considerably between online sites; some companies, such as BBX, take legal ownership of the
wine before selling it to the buyer.
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