Quick answer
- A wine's market price is what a bottle of that vintage and size sells for in shops in your market, VAT included.
- Vinius builds it from shop prices it finds online and from prices other Vinius customers add. The middle value of those prices is the Vinius median.
- You see it on the wine's Pricing tab, in the Wine Details panel of the wine list and on the dashboard card Market Price Alerts.
- Know a better figure? Use Add a market price you know on the Pricing tab. Your price then counts for your organization, pricing rules included.
- Owners, admins and managers see and add market prices. Staff and viewers do not.
What the market price is
The market price is a retail price: what someone would pay for the same bottle in a wine shop. Vinius keeps one per vintage and bottle size, so a 2016 in 75 cl and the same wine in magnum each have their own.
It always includes VAT. Your market is the country of your site, so a venue in Belgium sees what shops selling in Belgium charge.
Where the price comes from
Two sources feed it.
- Wine shops online. Vinius searches the websites of wine shops in your market for the wine. It checks that a page sells the same vintage and bottle size, and leaves out prices it cannot match, such as another vintage or a case of six.
- Prices Vinius customers add. When an organization adds a price it knows, that price joins the shared history as one observation. A retailer name and a link make it count for more.
The Vinius median is the middle value of those prices. Once a wine has at least three prices backed by a link, prices added without one no longer count towards the median. They stay visible in the history.
Not every price Vinius finds is stored straight away. When it rests on a single shop, comes from outside your country or two searches disagree, a person at Vinius checks it first.
Market prices move slowly, so Vinius does not search for the same wine every day. A search that finds nothing waits six months before Vinius tries again.
Where you see it
- The Pricing tab of a wine. Market price (incl. VAT) shows the figure in use. Under it, Market intelligence gives the current median and the number of sources behind it. Open full chart shows the median per month with every single price as a dot, and Show latest price points lists the shops and what they charge.
- The wine list. The Wine Details panel shows Market Price next to the purchase price.
- The dashboard. Market Price Alerts lists wines whose selling price sits below the market median or close to it, with the gap per wine. It catches bottles you sell for less than a shop asks. Refresh brings the card up to date.
- The app. Owners, admins and managers see Market Price in a wine's details. When you add bottles, the market price can appear as a hint under the price field.
Add a price you know
You may know a price Vinius has not found: a recent auction, a merchant abroad, the shop next door.
- Open the wine from Wine Inventory and go to its Pricing tab.
- Choose Add a market price you know.
- Fill in Price incl. VAT and, if you have them, Retailer or source, Link (optional) and Seen on.
- Choose Add price.
From then on your price is the wine's market price for your organization. It comes before the Vinius median everywhere, pricing rules included. The Pricing tab says "Your price, seen on" with the date, and shows the Vinius median beside it so you can compare.
Your price points carry a You label in the list of sources. The bin icon, Delete price point, removes one of yours, and the wine falls back to the median.
Other customers benefit too: your price joins the shared history as one observation. Without a link you keep one price per wine and bottle size per month, so a second one in the same month replaces the first. The market price column of an Excel import works the same way and counts as your own price.
When your own price gets old
Your own price never expires. The Pricing tab does flag it when it is six months old, or when it sits more than 15% away from a Vinius median that rests on at least three shop prices with a link.
- Keep my price confirms it, and Vinius does not flag it again for six months.
- Use Vinius median removes your price.
After you apply pricing rules, the pricing calculator tells you how many wines were priced from a flagged price.
Wines without a market price
A wine without a market price is priced from its purchase price. For an older vintage or a sought-after bottle that can mean selling it for too little.
Needs pricing, above the list in Wine Inventory, has a Market price missing list for these wines. Look up asks Vinius to search now, and the result takes a few minutes. I know the price saves your own. See Purchase prices and Needs pricing.
How pricing rules use it
Two pricing bases in the pricing calculator read the market price:
- Market Price if Higher takes the market price when it is known and higher than the purchase price. Otherwise it takes the purchase price.
- Market Price if Available takes the market price whenever there is one, and the purchase price when there is none.
Vinius looks for your own price first, then the Vinius median, then the purchase price. The details are in Managing pricing rules.
In a personal account or on a private site
A collector wants to know what the cellar is worth. In a personal account and on a private site, the dashboard and the Stats tab in the app value your stock at market prices. A bottle without a market price counts at its purchase price, and the app tells you what share of your bottles has one.
Who can do this
| Action | Owner | Admin | Manager | Staff | Viewer |
|---|---|---|---|---|---|
| See market prices and their history | Yes | Yes | Yes | No | No |
| Add or delete your own market price | Yes | Yes | Yes | No | No |
| Look up a missing market price | Yes | Yes | Yes | No | No |
In a personal account you are the owner, so all of it is yours.
- Web: everything on this page.
- Phone: the market price in a wine's details and as a hint when you add bottles, for owners, admins and managers. Adding a price, the chart and Needs pricing are on the web.