2015 - WineBid sends a boilerplate email to customers stating: “We are writing to inform you of changes to our Terms & Conditions, effective October 4, 2015. Thank you.” The email did not disclose a 13% increase in Buyer’s Premium that was buried in the new terms and conditions.
2017 - WineBid is acquired by Third Leaf Partners and moves HQ to Seattle
2018 - WineBid closes its midwest warehouse to save money
2019 - Russ Mann is appointed CEO of Winebid
2019 - Not satisfied with the savings by closing their midwest warehouse, WineBid jacks up shipping costs to the midwest and east coast.
2020 - WineBid announces a record-breaking year. Total revenue grows to $33.8 million. The company also reports a significant increase in profitability.
October 2020- Winebid creats a shell company called Global Storage Network
March 2021 - Winebid implements Overtime Bidding, allowing customers to pay more for their wine
August 2021 - Russ Mann announces “WineBid will be partnering with a new business called Global Storage Network” He skillfully omits that GSN is nothing more than a shell owned by WineBid. (I’m not entirely sure how WineBid can partner with a company owned by Winebid)
RE: Overtime bidding, don’t forget “You asked for it!”
I should say… I still use WineBid from time to time, but I do think it’s insulting to market to customers that something is an enhancement that was “asked for” when it isn’t. Just be up front that “it’s a competitive environment for consignments and that by introducing a unique feature we hope to attract even better lots and make it a net positive for all involved.”
You should open a competitor! I would, but it’s not legal in Ohio.
If Overtime Bidding increases the prices that buyers pay then it also increases the revenue that sellers get to keep. As someone who sold wine through Winebid earlier this year (before Overtime Bidding went live), I’m open to this change. (I don’t have anything useful to say about your other points.)
Nobody uses Winebid anymore. Its too crowded.
My god! A company is doing things to try and broaden its business, and increase the bottom line, the horror!
It’s a business. We all have the choice to buy and sell through them, or take our business elsewhere.
This thread is ridiculous.
(I gave up on winebid 2 years ago… but still buy on other auction sites)
Thanks Yogi
Yep, somebody got their Wheaties pooped in this morning.
Alan, you are absolutely right. WineBid has a right to run their business and we can inform the consumer as to their business practices.
Should be a case study at Wharton on how to successfully expand a business and then how to deal with people on social media with a cancel culture agenda.
If we can skip the snarky back and forth:
@Paul - can you summarize what you are seeing is the decline of WineBid? What bad outcomes are customers experiences from your POV?
Are you saying raising the BPs in a way that came across as non-transparent, Overtime bidding, and this partnership (which I am unclear what the issue is) add up to you in a way that, regardless of the customer experience, make them a bad actor to you?
Sounds to me based on the timeline from the OP, is the subject should be Tracking the Growth of Winebid 2015-2021.
Then you too can lose a small fortune in the wine business.
We??? Who are we? And who exactly Paul are you? And why have you decided after a mere six posts to go out of your way to trash WineBid? Six posts in itself is not a reason to bring up a problem auction house, but it does seem to add to the impression that it is vendetta driven.
And to be honest nothing in there smacked of anything to worry the average Berserker.
Inquiring minds want to know!
No Brian, he could make a small fortune in the wine business. As long as he started with a large fortune.
That’s it! I am going to go to Winebid, bid on some wine and if I win, I am going to have Russ store it for me for SEVERAL months. Take that!
My, we are a fickle bunch!
A few months ago, Russ’ “You asked for it! Overtime bidding!” thread was met with hearty debate and a healthy dose of derision by WB’ers. Last month, a thread detailing changes in WineBid’s storage and shipping policies resulting in increased costs to store wine with them, universally panned the changes as a negative for the consumer while acknowledging WineBid would make more money.
Now some Newb named Paul has the audacity to start a thread detailing all of WineBid’s negative steps with respect to the consumer, and Beserkers (Clutching Pearls) gasp, “leave our WineBid alone!” and question his intelligence and motives.
I agree with you Tom. There is no need for everyone to be so rough. No one is asking questions to understand - just throwing punches. It’s not a good look and alienates people rather than encourages healthy discourse.