SELLING FAQs

 

What’s my wine worth?

Using our no obligation online portfolio valuation tool, gives you an instant valuation from which you can either, commit a sale through us or save for a future reference. Alternatively contact our valuation team on +44 (0)20 7887 2250 or valuations@paramountvintners.co.uk with the details of your wines.

  

How reliable are your valuation quotes?

The valuation quotes from our portfolio system is at the current competitive market price for each wine. Our portfolio system is totally transparent, showing what your wines are worth, our sale margin and the net total.

 

How do I sell my wine?

There are two ways you may sell your wine at Paramount Vintners. If you are interested in an outright cash sale, you can value your wine through our online valuation tool or by contacting our valuation department by email or phone and you will be quoted a cash sale price. You will receive payment once your wine has arrived and been checked at our warehouse. The value of an outright cash sale will usually be the current market price less approximately 20%. Alternatively you may sell your wine through our broking service for as little as 7% commission. Value your wine through our online portfolio valuation tool or by contacting our valuation department, if then you decide to commit to a sale you may do so by agreeing to our selling, and storage terms & conditions. We will then arrange with you the transfer of your wines to our bonded warehouse at London City Bond. Once we have received your wines they will then be up for sale.

 

What happens when my wines is sold?

You will receive an email confirmation stating any successful sale of a wine. Additionally we provide reservist statements in the first week of each month detailing all sales in the previous month. If we purchase wine for an outright cash price, payment will be made on receipt and satisfaction of your wine. For users of our broking service, payment will be made on or around the 20th of each month for sales in the previous month. All payments will be sent by bank transfer, so please forward us your bank details.

 

When and how is payment made for my sold wines?

If we purchase wine for an outright cash price, payment will be made on receipt and satisfaction of your wine. For users of our broking service, payment will be made on or around the 20th of each month for sales in the previous month. All payments will be sent by bank transfer, so please forward us your bank details.

 

How do I know how things are progressing?

After you receive Paramount Vintners receipt note of your wines arriving in good condition at our warehouse, your wines go on sale. Thereafter you can track the progress of your sale on the ‘history’ tab in your portfolio. Additionally we send you an email on any successful sales, and provide a reservist statement in the first week of each month detailing all sales in the previous month.

 

How long will it take to sell my wines?

Unfortunately it is impossible to give indications on how long wines will take to sell as so many variables come into play. However, we have customers actively buying across all our ranges of choice and our reservists are very happy with the service we offer.

 

Can I take some wines back from sale?

Yes, You shall be entitled to withdraw any wine that you have listed, at any time prior to a purchaser confirming their order to purchase your wine. To withdraw a particular wine, find the wine on your portfolio and edit the quantity that is up for sale. If you decide to accept delivery or transfer the wines, Paramount Vintners will need to recover all charges associated with the receipt, handling/checking, rental and insurance of the wines since their arrival at our warehouse as well as any delivery or transfer costs.

 

Market prices are dynamic and can move up or down. Can I set a minimum price that I am willing to accept for the sale of my wine?

Yes. From your portfolio you can use ‘floors’ to set the minimum net price.

If the market price drops below this price your wine will automatically be taken off sale. Should the market price rise back above this price the wines will go back on sale. You will receive email notification in both instances. If you don’t set any floors on your wines they will always be offered at market price.

 

If there are multiples of the same wine up for sale, whose wine will be sold first?

The wine that was listed for sale first will be sold first if an order is placed. However, you may increase the percentage of the sales commission of a wine from your portfolio, and in such a case Paramount Vintners will priorities the seller with the highest commission percentage, which can result in your wine being sold before the wine listed first.

 

Who pays for the shipment/transfer of wines to Paramount Vintners?

We can arrange the shipment/transfer of your wine to our cellars at London City Bond, at your cost. You can however arrange your own shipment/transfer to our cellars. If you are arranging your own shipment/transfer of wines please contact us beforehand so we can inform you of the relevant instruction on what information needs to accompany any consignments, and for us to book in the consignments. If your wines are stored in bond, please provide us with proof of their original purchase value beforehand. This can be the original purchase invoice or an extract from your bonded account showing the wines with their values.

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