When you mark your wine for sale in the Marketplace, we recommend setting an asking price (which is optional). The benefits of setting an asking price include:
- Stimulates more bids (assuming it's reasonable) as it increases bidders' perceived chances of a success by reducing uncertainty
- Signals that the seller is more likely to respond quickly to a bid, again improving bidders' odds of success
- Ensures your wine shows up in searches when a buyer searches on price
- Calls attention to your wine over those without asking prices when a buyer is browsing
Vinfolio offers several easy-to-use tools to help you research and determine a reasonable asking price:
1. Use the Community wines page of VinCellar to review the average value and community cost of your wine. These values will give a good starting point for the price range of your wine:
2. Visit WinePrices for recent auction results (if any) and current U.S. retail pricing history:
3. Click on the Marketplace tab in My Cellar and then on the specific wine name which will show you what others in the Marketplace are asking for your wine:
4. Don't forget to consider your Marketplace fees.
5. Remember, you may optionally set filters if you only want to receive notification on bids that meet your specified criteria.
Happy pricing!
