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COPYRIGHT 2001 Hiaring Company
uvine, a global exchange for trading premium wines, has launched in the U.S. following a successful European introduction in May. uvine's online marketplace provides an anonymous, neutral and secure trading floor for wine enthusiasts to buy and sell the most sought-after wines in the world. uvine has established its U.S. headquarters in Larkspur, Calif., along with climate-controlled wine storage facilities in Napa and New York.
"We are excited to offer global trading of the most exclusive wines in the world, through a model that provides pricing transparency and immediate execution of transactions," said Christopher Burr, chairman of uvine and the former international head of wine at Christie's Auction House. "uvine is an innovative way for wine enthusiasts to trade, invest in and manage prestigious wine portfolios, much as they would stocks or shares."
According to uvine estimates based on Organisation International du Vin figures, the global premium wine category was worth $45 billion in 1999 and has grown at a combined annual rate of 6.5% since 1975. uvine is positioned to serve this market, which includes the $1 billion U.S. market for California luxury wines ($25+ per bottle) and trophy wines ($50+ per bottle) which is growing at 20% per year according to...
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