‘Record year’ for iDealwine in 2018
Online fine wine auctioneer iDealwine enjoyed a “record year” in 2018 it has reported, with a €22.9 million turnover.
Last year’s turnover –combining both auctions and its fixed price sales – was up 29% and continues several years of growth which have seen sales volumes double from 2014-2018.
Over the course of 2018, 143,000 bottles went under the hammer in 43 sales, with the average price per bottle increasing slightly from €119 to €122.
Fixed price sales also showed 19% growth, with 102,137 bottles sold for a total of €5.6m.
The platform counts buyers from 60 countries and sales to non-French customers grew by 53% from 2017-2018, meaning they now account for 40% of total volumes.
Europe remains the strongest market and “despite the climate of uncertainty brought about by Brexit and the highly competitive nature of the market”, the UK showed the strongest growth (up 51%).
Switzerland, Germany and Italy, three markets iDealwine has marked for future development, also grew strongly.
Asia is another solid market for iDealwine, led by Hong Kong where the average bottle price is €200 and the platform is “setting its sights” on the US which is seeing rapid sales growth.
iDealwine also noted that the first half of 2019 had proved “equally auspicious so far”. Sales volumes are up 24% on the same period in 2018, to a value of €13m.