Wine Owners – the online fine wine exchange and portfolio management solution – has announced that from 7th April 2014 prospective and existing members in Hong Kong will have a bespoke region specific branch of the already successful www.wineowners.com site.
The creation of Wine Owners HK is in response to the enthusiasm by Hong Kong based wine businesses for the existing Wine Owners platform. Its launch also recognises the importance of the region to the fine wine market globally. Already collectors manage on average HK$800,000 on the dot.com platform, with a growing number accessing the fine wine exchange to buy and sell directly in a secondary market with fellow collectors, wine merchants, brokers, consultants and funds.
On the HK portal the fine wine exchange will display, as a priority, wine offered for sale in Hong Kong, alongside unrestricted access to European offers, thus permitting local investors access to back vintages from collectors’ portfolios and an extremely broad spectrum of global wine trade participants.
Wine Owners’ platform also calculates delivery charges from all the major HK wine warehouses and take into account the special tax status of the Hong Kong region. Wine Owners HK importantly provides an additional focus for the local marketplace where collectors who become members can manage wine portfolios in the currency of their choice. Pricing information and graphical analysis on 160,000 fine wines can be analysed in HK$ as well as other leading global currencies.
First launched into in June 2013, Wine Owners is unrivalled in the industry. It’s accessed by 8,000 global users to manage in excess of a billion dollars’ worth of fine wine collections on the system. It allows collectors and investors to review and be more informed about their wine with a comprehensive suite of decision-support tools and data so they can value their wine assets; work out what to keep, drink, lay down and sell, in context of key data and expert content. The fine wine exchange makes it easy to trade out of, and into, your Wine Owners portfolio. Every decision is made transparent with market pricing on 160,000 wines and Wine Owners reduces the challenges associated with self-trading by orchestrating settlement between counterparties, inspections and all logistics.
“We strongly felt we needed to recognise and reward the support of wine businesses in Hong Kong, and wanted to introduce ourselves to local wine consumers – amongst the most passionate wine collectors in the world – as an exciting way for them to fully appreciate their treasured assets” said Wine Owners founder and CEO Nick Martin.