Eric
Posts: 5743
Joined: 10/10/2003
From: Seattle, WA
Status: offline
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Upgraded WineBid.com Auction Results
I recently made some substantial changes to the WineBid auction results which are exposed on the site as part of the Auto-Valuation feature.
- When this feature was first implemented last December and refreshed again this past May, the values were based on the average hammer prices of wines sold on WineBid.com over a trailing 12-month period. This information was very well received, but in looking at the data I realized that we could take a big step forward in two respects:
- Coverage: The prior data covered about 25,000 wines, but we have been able to almost double that with the latest data.
- Freshness: One problem with the 12-month average is that market fluctuations for hotly sought after wines tended to be buried or greatly downplayed. Without exposing the data to too much volatility, we still wanted it to express more sensitive market fluctuations.
- With this in mind, the new data on the site is calculated somewhat differently:
- The site now contains the quarterly average price of every wine sold on WineBid.com since Q1-2003.
- For purposes of computing a top-level valuation, the most recently available quarter is used for each size of each wine.
- When drilling down to the valuation editing screen for any wine, all of the quarterly prices from WineBid.com are shown (if you are a premium member, e.g. made a contribution in the past year)
- Our current coverage jumped overnight from 28,000 wines to 42,500, and we will be able to get that closer to 47,000 wines over the next few weeks.
- In future quarters, we should be able to get the latest results posted more quickly.
I have updated the FAQ: http://www.cellartracker.com/valuefaq.asp
Enjoy!
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Cheers!
-Eric LeVine
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