There are now many people who want to sell but have no means to. It’s true RT prices are high but I think the sellers will migrate to this platform which still increase the supply and make the prices lower.
4 Likes
So RumTrades March auction was launched yesterday : 365 lots, far more than usually. The transfer from Rum Auctioneer is already on its way.
6 Likes
Is Rum Trades also located in the UK or is it EU?
2 Likes
Located in Italy.
3 Likes
Yes, I also noticed it. They are growing in quantity and quality. Let’s see what happens next.
2 Likes
Now the question is: do enough people know about rumtrades? Certainly their most expensive bottles will be priced accordingly but will there be enough people to bid up the middle and lower range bottles?
3 Likes
The crowd will build in time. Rum Auctioneer has a long history, preceeded by WhiskyAuctioneer.
3 Likes
It seems that this auction was very low : is it the real start of the change to Rum Trades ? If people see their bottles sent lower than elsewhere, they won’t send anymore to Rum Auctioneer.
Just example :
- Caroni 1996 Velier 20 Year Old 100 Proof Heavy | Rum Auctioneer : finish 733€
- CARONI 1996 20 YEARS OLD 57,18% VELIER - 34TH RELEASE : already 900€
4 Likes
Yes, the prices are quite low and much lower than a few months ago. Not for everything, but in general.
It seems that RT will take their chance. They have even opened a Whisky section.
And they keep your bottles for free for three months. I don’t like Catawiki myself for security reasons, it seems they don’t really care about fakes, and the shipping is outrageous. So there is only one alternative to RA… if they don’t find a solution.
4 Likes
well, I did some bidding yesterday, being based in Germany.
Prices of the collectibles seem to be low, while adding commission, FX rate, German VAT and customs the bottles I looked into ended around (slightly above or even below) shop prices (if available at all). So one could even buy at a shop.
Drinkables seemed to be quite low so that you might end up cheaper to buy it even at RumAuctioneer.
Important notice: they did not charge me VAT on my won lots!
My conclusion is it’s ok for buying drinkables, make sense for collectibles that you can’t find in a shop anymore (some shops in Germany are overpriced, so even make sense then) and just fun on available rarities as you end up at basically the retail price but you have the fun and excitement of bidding.
You won’t make a good deal as bidders know where the market is and I experienced that you are overbid if you stay in a reasonable range.
With regards to to sellers or flippers (you knows the old TV series Flipper? You r old!) it’s bad news as you are facing a big discount on the normal stuff, so drink it, and bad news for short term investors as you have to consider big discounts too (40% ±). So you need to wait 3-5 years and pick wisely.
cheers
9 Likes
wow, this is a valuable feedback. When looking at the prices I had in ming price+UK VAT+PL VAT (from the total ammount) which is additional 47% to the price!!! With auction fees and stuff it’s almost a double so I refrainded from buying anything. But for the UK people the bargains are now just too good 
3 Likes
Why would it be UK VAT as it is for export ? The UK VAT is for UK customers only.
2 Likes
I bought a bottle through Catawiki that proved to be a fake. Catawiki reimbursed me 100% and were very responsive and professional throughout the situation. Just want to give them credit where credit is due.
14 Likes
Good to hear that they felt responsible. I am curious: How did you know it was a fake? Anything to recognize easily?
3 Likes
I would be curious, too. Maybe you can share your experience here:
Fake rums, how many are there?
8 Likes
it seems that sellers suffering VAT which drives the dip in prices (net);
It would make a lot of sense for RA to establish an EU subsidiary and handle the EU market from there and change the concept. Like BAT (Bring a Trailer) in the US. This is an auction platform that basically connects seller and winning bidder and just charges commission. The rest is buyer/seller. Handling of bottles could be an additional service. So no VAT for private individuals.
May be RumX should be extended by an auction feature!
4 Likes
Yes, like Whiskybase did, basically a shop and a database in whisky. They have created later a marketplace, insured with Paypal and that’s worms well. the only little thing I will add is the possibilité to bid on bottles, not only offering sells. Like that, sellers know what price they can sell for sure.
5 Likes
I called them and this is what they explained to me.
1 Like
Hey Kudzey, do they actually still ship to Poland? I got in touch with them and they said “no, but working on a solution with our partners blah blah”
1 Like
Once receiving the bottle - noticed the capsule had been compromised. After messaging the seller and reviewing no response, I contacted customer service. Seller never responded to me or them.
I opened the bottle and knew immediately just based on alcohol level it was fake. Tasting it confirmed it. Catawiki fully covered the cost of the bottle including fees.
9 Likes