The iDealwine Auction Price Estimate has been THE reference in the wine auction market for nearly 20 years. Let us explain you why this tool is great! Based on a unique database of more than 3 million prices registered in French auctions since 1992, it gives an essential indication to any wine enthusiast.
Unlike most comparison websites, which aggregate average wine prices currently for sale (not necessarily sold at this price), the iDealwine Auction Price Estimate calculates an average resulting from real transactions at auction. Let’s see how this clear, precise and transparent tool is calculated.
You’ve all experienced, at least once, when bringing back an unknown bottle from your cellar or, when one of your friends, knowing you’re an amateur, wonders what you think of a wine, and you have no idea of its value… The iDealwine Auction Price Estimate began with this observation: no reliable tool existed 20 years ago to estimate the price of a wine, especially when for mature vintages.
The origin of iDealwine Auction Price Estimate
The story of the Auction Price Estimate is closely linked to iDealwine’s birth and this idea was even at the heart of the company’s creation. Indeed, straight from the start, the website was not only conceived as an online auction platform, but also an online platform offering tools to analyze the wine market and take adequate decisions. The three co-founders – Angélique de Lencquesaing, Cyrille Jomand and Lionel Cuenca – worked at the Paris Stock Exchange, where they met and had the idea of founding iDealwine. They, themselves, admit they are among the « dinosaurs » of Internet, and they are not completely wrong: iDealwine offers its Auction Price Estimate since 2000, which is prehistory for Internet. Their seriousness and reliability was quickly put forward. iDealwine has also created a service to estimate cellars in real time, as well as a system of alerts.
How is the iDealwine Auction Price Estimate calculated?
The iDealwine Auction Price Estimate is based on more than 3 million prices collected since 1992, an aggregation from French auction results – and not just iDealwine sales. It provides an accurate and reliable indication of a wine price on a given vintage. Unlike price averages given by comparators, which merely aggregate the average prices of wines for sale, the iDealwine Auction Price Estimate calculates an average resulting from actual transactions at auction. Thus, if a seller puts a wine at auction at an unusually high price and never finds a buyer, this distorted price will obviously not be taken into account in the calculation of our Auction Price Estimate. This gives a precise and realistic indication of the money you can get from selling a wine, but also a reasonable amount to bid on a bottle. The iDealwine Auction Price Estimate is the most objective price indicator for wine resulting from the confrontation of supply and demand.
The iDealwine Auction Price Estimate is updated weekly based on sales. If fewer wines are sold during the period, the price evolution (Auction Price Estimate) is weighted by the average price evolution of the other wines from the same appellation and vintage. This real wine price guide, developed by iDealwine, is used by more than 450,000 wine lovers around the world and is often mentioned in media such as La Revue du Vin de France, Bettane+Desseauve, The Drinks Business, the TV show Intégrale Placement on BFMTV… Les Echos (03/12/2015) wrote on this subject: « Based on the results of French auctions for more than twenty years, iDealwine’s online auction platform has created an Auction Price Estimate which gathers today around 60,000 cuvées, free of access via the iDealwine website and app, it allows any amateur, seller, buyer or just curious to know the value of a wine.”
In addition to being a very reliable and methodical tool for estimating the price of a wine, the iDealwine Auction Price Estimate also has the advantage of being « visual »: it gives you a snapshot at a glance of the wine price evolution wine via its graph. You can also view the latest auctions recorded on this wine, its En-primeur price (when available) as well as the annual highest and lowest prices recorded for a given vintage.
Alongside the iDealwine Auction Price Estimate, other valuable tools have been designed to help you analyze the market of great wines, such as the WineDex indices and the iDeal indices, two ranges of indices widely referred to.
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