GrapePip website aiming to be Ebay of the wine trade

A new fine wine auction website is aiming to become the 'eBay' of the wine trade by offering cut-price lots from a selection of merchants. The website GrapePip was founded by Caspar and Victoria Bowes - who also own Bowes Wines. They started the venture as a means for traders to clear cellar overstocks without the stigma of having to offer hefty discounts in their catalogues or on their own websites. Three months after its launch, the wine auction website has seen 14 top UK merchants sign up to become approved vendors and list lots on a regular basis. Wines have typically sold for 20% less than their current market value.

The wine trader selling each lot remains anonymous, but GrapePip said it would only accept vendors who could offer full provenance on the wines sold, under a ‘strict approval criteria’. The company also handles the sale, logistics, delivery and customer service functions for all wines sold.

So far only a handful of French wines are available, and one Austrian, although the owners are confident in their aim of turning over £250,000 in the first year of operations.