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How Maltdaq Works

MALTDAQ is a new way of buying and selling whisky which works on a Bid / Ask principle.

Buyers create Bids – signalling to the MALTDAQ marketplace how much they are willing to pay for a particular bottle.

Sellers create Asks to indicate how much they are hoping to sell a particular bottle for.

When a Bid equals an Ask the sale can take place.

MALTDAQ displays the Bids and Asks for each whisky in a transparent way – buyers can see the minimum price sellers would sell for; sellers can see the highest price buyers will pay at any one time.

Only vetted and verified members can buy or sell whisky on MALTDAQ. Members are known to MALTDAQ but undisclosed from each other and MALTDAQ facilitates the sale and verifies each bottle.

What is a Bid?

A Bid is a signal to the MALTDAQ marketplace of the amount (in £GBP) a member looking to buy is willing to pay for one bottle of a specified whisky.

Bids, displayed in the red Sell / Ask box show the maximum, or highest, amount in £GBP a Buyer will accept and has committed to buy that whisky for.

A Bid is active for 21 days before it expires, is cancelled or until the Bid is matched by an Ask.

When does a Bid become a Sale?

A Bid only becomes a sale if a member looking to sell matches the Bid amount by clicking Sell Now or entering an Ask for an equal amount. When this happens the Transaction (or sale) process will automatically start.

A Bid can become a Sale in two ways:

When the Buyer places a Bid for an amount acceptable to the Seller the seller would action ‘Sell Now’ (the equivalent of placing a matching Ask)

When a Buyer agrees with the amount suggested by the Seller and actions ‘Buy Now’ (the equivalent of placing a matching Bid)

In both these cases the Transaction (or sale) process would automatically start.

Only members (fully registered and vetted users) of MALTDAQ can place Bids.

To learn more about buying on MALTDAQ click here 

Bids and the Sell / Ask Box explained.

Bids are displayed in the red box with the words Sell / Ask shown above. This is because a Bid is an invitation to Sellers to:

– immediately Sell the bottle for this Bid amount – in this case £200
– or that they should place an Ask for an amount closer to the price displayed in the red box.

There is 1 bottle currently available at that price, as indicated bottom right by (01).

In the example above the difference between the current Ask and Bid amount is £30.

A seller entering the marketplace can see they need to place an Ask below £230 to attract a buyer.

A buyer can see that they are more likely to come to an agreement on a sale if they place a Bid above £200

What is an Ask?

An Ask is a signal to the MALTDAQ marketplace of the amount (in £GBP) a member looking to sell is willing to accept for one bottle of a specified whisky.

An Ask shown in the green Buy / Bid box is the minimum, or lowest, amount in £GBP a Seller will accept and is committed to sell that whisky for.

An Ask is active for 21 days before it expires, is cancelled or until matches a Bid.

When does an Ask become a Sale?

An Ask only becomes a sale if a member looking to buy matches the Ask amount by clicking Buy Now or entering a Bid for an equal amount.

When a Seller places and Ask for an amount acceptable to the Buyer the Buyer would action ‘Buy Now’ (the equivalent of placing a matching Ask)

In both these cases the Transaction (or sale) process would automatically start.

Only members (fully registered and vetted users) of MALTDAQ can place Asks.

To learn more about selling on MALTDAQ click here 

Asks and the Buy / Bid Box explained.

Asks are displayed in the Green box with  the words Buy / Bid above. This is because an Ask is a signal to Buyers that:
– they can immediately Buy the bottle for this price – in this case £230
– or that they should place a Bid for an amount closer to the price displayed in the green box.

There are 4 bottles currently available at that price, as indicated bottom right by (04).

In the example above difference between the current Bid and Ask amount is £30.

A buyer can see that increasing their Bid above £200 may increase their chance of agreeing a price with a seller.