By Victoria Hines
Several start-ups have recently emerged to compete with the online trade in fine wine. The market’s newest competitor, WineBourse, aims to be the “Charles Schwab” of the wine trade. Many U.S. companies, such as WineBid.com have selected a weekly auction model, resulting in a fine Rosé being auctioned off for almost $43k. Meanwhile, European competitors have rejected the auction approach in favor of a system that allows parties to select when to buy and sell. The cost of these services varies considerably between online sites; some companies, such as BBX, take legal ownership of the wine before selling it to the buyer.