Why Woochi is the most accurate source for wine price info on the internet |
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Prices
Woochi displays two types of prices: historical and online prices. |
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Historical prices are prices coming from sources that only provide an indicative rounded cost figure, as well as prices from wine price lists that are no longer actual.
The historical price provides a useful indication of the street price of the wine on the market.
Online prices are prices from wine catalogs put online by wine shops or producers, i.e.
there is a point-of-sales behind this price that can sell you the wine at this price at this point in time.
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These two types of prices are rolled up for you by Woochi to two key figures:
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Indicative Wine Price (IWP)
This gives the best possible overall indication of the price of the wine. It is an average value calculated on the basis of all available historical prices (at each level ISWN-W, V and B).
Average Price Indicator (API)
This is the average value of current online prices.
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Wines
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Woochi uses the International Standard Wine Number (ISWN) so we are sure we know exactly which wine we are talking about.
Each wine is described by ISWN-W (wine product), ISWN-V (a vintage of that wine), and ISWN-B (a bottle of a certain volume).
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Similar to ISBN for books, the ISWN provides a user readable code fully compatible with low-level barcodes such as EAN, UPC, GTIN, and high-level product classifications such as GPC or UN/SPSC. For more information on the International Standard Wine Code, refer to www.iswn.org.
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The Woochi home page lists 75000 wines with ISWN-W codes. This implies there may be ten times more wine vintages or ISWN-V codes in the database, and even more ISWN-B codes.
Other sites may mention larger number of wines in the database, but this has little value without specifying what exactly is meant by a wine. |
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Note that both IWP and API are calculated averages that balance out the
effect of wide price variances (and currencies) between sales points
(depending on country, wine shop, point in time). This allows you to
better compare value between different wines.
For the Average Price Indicator, you can always click through to see
the underlying individual prices from different shops. | | | |