When selling wine with BiBO, our clients are able to take advantage of either the brokerage sales route or our equally popular cash option. This short article will outline the key differences between these core methods enabling you to correctly identify the sales option most conducive to your goals.
First we will start with a similarity, this is in relation to our quoting system. Whether selling wines via brokerage or cash, we believe in providing a transparent process from the off. One of BiBO’s fundamental strengths is ascertaining an accurate market price, we therefore wish to pass this onto any prospective seller. Therefore all quotes will include the current market price with our potential purchase figures, enabling our sellers to understand their wines true market value and in turn our commission structure. Wine pricing can be confusing at times, this simple step should help start all sales off on the right foot.
BiBO’s brokerage route is a simple way for clients to sell their wine for maximum return. With this method, BiBO acts as a B to B broker, providing the infrastructure to expose our sellers to the entire spectrum of the wine market, from retail and auction to trade. This process begins with the collection of the wines by our specialist courier team. They are brought to our Vinotheque facility in Burton-on-Trent where they will be financially audited by HMRC for tax purposes and logged by the LCB group. Our cellar team will then condition report the wines, checking their provenance and that their condition is as stated. Once a clean bill of health has been identified and the bottles photographed, we can begin offering the wines. The wines will then be actively offered through our various sales avenues by our team. Once a buyer has been found and the sale agreed, sellers will be notified with a sales update and paid within 28 days.
Utilising the cash sales method when selling wines with BiBO is typically preferred by those sellers prioritising speed over outright returns. The team at BiBO will still arrange to have the wines collected and processed through our logistics and condition reporting system. However once they are deemed to be the correct condition, BiBO will buy the cases outright paying customers the day after confirmation. Removing the need to wait for an interested buyer to confirm and pay improves the timeline for clients receiving their cash greatly.
Both methods constitute simple and efficient ways to sell your wines for the maximum amount of money possible within your timeline. Our account managers and automated updates will constantly provide updates and reassurance that progress is being made. For more information, or to get a quote from one of our purchasing experts, follow the link below.