Filed under: Wine
Vinfolio Marketplace is set to go live on July 1, 2009, solving a problem with which many wine collectors struggle. This online platform was designed to make it easier for collectors to put their bottles up for sale, creating a more fluid marketplace for this, um, fluid. Founder Aaron DeMello believes it could become the world's primary spot market for wine.
Currently, the wine sales platform has a virtual inventory – thanks to participants – of nearly 12 million bottles, with a value of approximately $2 billion. Most participants are located in North America. The market inventory will be supplied by more than 53,000 private wine cellars.
DeMello's goal is to create a place where buyers and sellers can come together easily to complete their transactions. The ancillary effect, of course, would be the real-time valuation of different wines, as you see in securities and commodities markets.