Fine wine investment app launches in Europe
Vindome – Smart Wine Investments has launched a dynamic online wine trading platform for investors, collectors and fine wine enthusiasts.
Bringing together the latest technology and world class wine expertise, this app-based trading platform is a world first and is set to transform the world of fine wine trading.
Over the last 10 years, investment in fine wine has consistently seen higher returns than any other form of investment. This, coupled with the desire for supply chain transparency, provenance guaranteed wine and industry safety, has resulted in the launch of Vindome.
Vindome connects producers, investors and consumers to buy and sell collectible wine in real time, via a smartphone app. It offers rapid, direct and secure investments and allows users to trade directly with one another. The Vindome app is available to download for free from iOS and Android app stores.
Vindome Consultant, Roderick Smith, MW, says: “I am really excited to be working with Vindome on this ground breaking project, which will open the world of wine investment and ownership to all, not just those in the trade. Vindome will allow people, whose wine knowledge is limited to develop and explore the opportunities, in both drinking and financial terms, of wine investment for the first time.”
Vindome Consultant, Roland Coiffe, Négociant en Vin, says: “Having been involved in the world of fine wine all my life in a more traditional sense it has been fascinating working with the Vindome team. They have created a product that is both interesting to investors as well as people with less knowledge about wine investment. I think what they have is a unique development for the world of wine and a world first.”
All wines on the Vindome app are sourced direct from renowned wineries and négociants, guaranteeing their provenance. One of the key advantages of using the Vindome platform is that it offers immediate access to thousands of wines, including special vintages and en-primeur, unlike other trading platforms where the wines are often unavailable for immediate purchase.
All cases for sale on the Vindome platform have been approved and tagged with an NFC (near-field communication) microchip. The tag contains information regarding the contents of the case, the trade history and ownership. Each time the case changes owner, the transaction is recorded in the blockchain and the entire record can be viewed by scanning the tag with a smartphone.
Invest – Vindome offers two ways of investing and buying wines.
“Collections” – these are carefully selected wine assortments, to suit different budgets and time investment horizons, which can easily be purchased with a click.
“Vindome Live Market” – where you can browse through hundreds of bids and offers and once you have found the wine you are interested in, you can either purchase directly at market price or place a bid, with no minimum investments required. The app will then indicate the quantity, total price, commission and storage costs and ask the user to confirm their purchase, making transactions effortless for all investors.
For each wine you will find a Wine Details page, including a description of the wine, ratings and any previous investments the user has made in this particular wine.
Vindome also offers a team of expert wine advisors who are readily available via email or telephone to offer advice based on the investors budget, taste, investment horizon and return on investment expectations.
All wines purchased on Vindome will automatically appear on the user’s Portfolio page. To sell a wine, the owner can select the wine he or she wishes to sell, choose the number of units and set the price they intend to sell for. Once the sell order is confirmed, the sell offer will appear on the Vindome Live Market.
All wines are tagged and stored in state of the art bonded warehouses close to the source of production. Vindome’s partner warehouse facilities offer ideal temperatures, humidity and security. Another key advantage with Vindome is its wine insurance offering that is indexed on market value rather than purchase price, which is something that not many other competitors offer.
Once the user makes a purchase, they can request delivery at any time directly via the app. Vindome only uses expert transportation companies to ensure safe delivery of all wines. Delivery prices are available on application.
Ingrid Brodin, Founder & CEO, says: “With Vindome we aim to revolutionise the fine wine investment market, making trading of fine wine more accessible, safe and dynamic than it's ever been. The provenance of all wines sold on our platform is guaranteed and each case is marked with an NFC tag and each transaction is recorded on blockchain. Safety and transparency is key to everything we do.”
Victoria Palatnik, Founder, says: “Vindome is where old-fashioned wine trading meets cutting edge investment technology. Our aim is to introduce a new generation of investors to the world of fine wines and offer experienced collectors a dynamic new experience."