Q & A
How does VINEX reduce my risk dealing with buyers?
The role of VINEX is to provide a secure and credible trading Exchange for you to connect efficiently and successfully complete negotiations, supported by a sampling approval process. VINEX reduces your risk and ensures legal, ethical and fairness in trading through to contract execution, by providing:
Trading activity is monitored and reviewed
Feedback is encouraged and reviewed
Member Ranking and Profile
All members are ranked by trading activity
Sampling Restrictions and Monitor
Requests are restricted for new members
Regional Managers’ Feedback
VINEX meets with members in-market
Clearing and Settlement
Completed trades are subject to trading rules
All members are authenticated at registration
Protection of anonymity is paramount
First Listing Approval
New member listings must be approved by VINEX
Compliance audits are conducted regularly
Comprehensive daily reports are monitored
Security and Privacy
Advanced technology provides secure protection
To sell wines, do I need to purchase a membership?
No Listing or Negotiation Fees
No. You only need to register, be approved by VINEX and start selling. Registration is free. VINEX is a business to business trading exchange and therefore you must be a sole proprietor or a company representative, in or associated with, the wine industry. Selling fees only apply to completed contracts.
Fees & Rates Summary
- No listing or negotiation fees
- Service fees apply to completed trades
- Pre-Harvest Forward Contract fees apply
- Membership subscription fees are optional
- Listing promotion fees are optional
- Fees may apply for other VINEX services
Who are the buyers?
Buyers purchasing through the Exchange have all been verified by VINEX and must be either Standard, Premium or Corporate members. They include exporters, importers, bottling facilities, retailers and wine (or other bulk grape product) producers who have supply requirements. Buyers are across all regions and markets, an more than 40 countries.
Can I sell grape products, other than wine?
Yes. Through the Exchange you can add listings for grapes and all types of grape derived product including juice, must, concentrate, flavoured wines, fortifieds and grape spirit. For wine products there are options to customise your listings, including organic, kosher, crude, faulty and other variations. VINEX Regional Managers can assist with more information.
When selling, what fees do I pay to VINEX?
Suppliers will be invoiced a service fee payable to VINEX on the execution of a Sale & Purchase Agreement. Service fees are based on a percentage of the total value of each trade and are volume discounted – the larger the volume, the smaller the percentage fee payable. Fees also apply for other VINEX services including securing a Pre-Harvest forward contract. A full list of Rates & Fees can be found under Services here
Do I have to provide samples?
Sampling is obviously vital to completing a successful trade. While you can choose not to supply samples when you add a listing and negotiate with a buyer, you must provide a final sample for the buyer’s acceptance as part of the Clearing & Settlement approval process. If samples are made available when negotiating a trade you are 300% more likely to complete a trade.
How do I supply samples?
When adding a listing to the Exchange you can indicate if samples are available or not. The supply of samples to interested buyers is at your cost, including the use of your preferred freight carrier and must be delivered duty paid (if international). VINEX will advise you of the buyer’s request and provide despatch address details along with labels to print and apply to each bottle. VINEX coordinates the delivery which is tracked through your central dashboard.
How does the Sub Exchange work?
The Sub EX is available to Premium members only. Here you can add your available grapes or wines and restrict your universe of buyers to only those in the industry you would like to approach. Your listings are locked and restricted in view (no price or volume details are displayed), and cannot be accessed from the Main Exchange. Through your listing you can confidentially invite up to 8 members (search by Country and Company Name) to respond. If the buyer you're looking to invite is not in the VINEX list, there's a request button for VINEX to invite the buyer onto the exchange to view your listing. When adding your available wines you can pre-qualify the members you would like to notify and trade with. The Sub Exchange provides you with control and efficiency, whilst creating competitive tension amongst those invited to respond to your listings. Your member anonymity is retained throughout to ensure a fair and unbiased negotiation to secure a sale.
When listing a wine, what are the 5 Quality Levels A - E?
The quality levels ranging from A - Luxury down to E - Generic are broad categories within which wines must be classified to provide buyers with an indication of the seller's quality assessment. Just as your price will also indicate a quality assessment, the A - E categories are another convenient way buyer's can search and compare wines of interest. Of course, buyer's will ultimately make their own determination as to the quality, style and value of a wine. Below are some guidelines to consider when listing your wine and selecting an appropriate quality level.
|A - Luxury||Wines showing exceptional concentration of flavor, structure and character. Suitable for iconic wine brands, generally released following extended maturation.|
|B - Premium||Wines showing outstanding regional or varietal characters, with impressive structure and character. Suitable for aspirational wine drinkers, released after limited maturation.|
|C- Reserve||Wines showing sound regional or varietal characters without the flavour weight and structure of Premium quality. Suitable for the occasional wine purchase.|
|D-Commercial||Wines showing approachable varietal character with less structure and weight than Reserve quality or above. Suitable for everyday drinking.|
|E-Generic/Other||This quality level is for generic (entry level) wine, flavoured wine, must, juice, concentrate, spirit, tannin and all other grape based products.|
What is VinScore?
VinScore is an independent evaluation service provided by VINEX to increase a buyer’s interest in your listings. VinScore ratings are only available for 'finished/bottle ready' wines. Each wine is given a rating (within its quality level) out of 5.0. With a VinScore your finished wine listings will be more appealing and provide an unbiased filter to help buyers compare listings of interest. While you’re not obligated to purchase or display a VinScore, it has been shown that listings are 300% more likely to lead to a completed trade.
Can VINEX assist me with a wine valuation?
Yes. VINEX provides a service called VinValuation – it’s free and you don’t need to supply a sample. Based on the wine’s listing details, VINEX will respond to you with a VinValuation after taking into account all market and current trading factors. The advice will advise a valuation price range along with commentary on the prevailing market conditions.