Buying Guide

There are two ways to buy whisky on MALTDAQ – ‘Buy Now’ or ‘Enter Bid’.

‘Buy Now’
A buyer may instantly see an Ask (or price) they are willing to pay; in which case they should use the ‘Buy Now’ button. MALTDAQ’s system will only allow a ‘Buy Now’ to go ahead at the current lowest Ask as this is the best price offered by sellers at the time.

Clicking Buy Now displays a screen which details the Total to Pay amount; this is the:

Buy Now amount
+ Buyers commission
+ Delivery
+ Insurance (optional)
+ VAT

= Total to Pay

Confirming Buy Now immediately starts the buying or transaction process and the Total to Pay amount will be deducted from the debit / credit card the member registered with MALTDAQ and held in a secure holding account until the bottle is verified. Updates will be sent by email and logged in members can view their sales transactions in the My Trades section on the My Account page.

If there is no ‘Buy/Bid’ price displayed:
If no Ask has been placed for that whisky then the green Buy / Bid box will be empty. Buy Now cannot be actioned as a seller hasn’t offered a price. In this case a buyer can ‘Enter Bid’, indicating to potential sellers [members who own that whisky] there is a buyer committed and waiting to buy [that whisky] for the entered amount.

‘Enter Bid’
A Bid is a signal which a member looking to buy (buyer) makes to the MALTDAQ marketplace of a commitment to buy that whisky for the bid amount indicated. Members place bids by entering the amount (in £) in the Enter Bid box.

Clicking Enter Bid displays a screen which details the Total to Pay amount which is the:

Bid Amount
+ Buyers commission
+ Delivery
+ Insurance (optional)
+ VAT

= Total to Pay

Confirming Enter Bid is a commitment to pay the Total to Pay amount and, in some cases, may appear as ‘Pending’ on the bank statement of the debit/ credit card registered with MALTDAQ. Money will not be deducted until the Bid is matched and the buying or transaction process starts.

Updates will be sent by email and the Bid is active for 21 days before it expires, is cancelled or until the Bid is matched by an Ask. Logged in members can view their Bids on the My Account page in the My Trades section.

What is an Active Bid?
An Active Bid is one which has been placed and is within the 21-day expiry period. It shows a member’s commitment to buy that whisky for the amount indicated; the Bid amount (plus commission, shipping and delivery costs, insurance and VAT). It is active because if a Seller agrees i.e. matches the Bid amount the buying (transaction) process will automatically start. Bids are active for 21 days from the time they were placed. Active Bids can be viewed on the My Trades section of the My Account page when logged in.

How long does a Bid last?
Once you have placed a Bid it will be active for 21 days. Provided your Bid has not been met you can cancel at any time.

What is an Expired Bid?
An Expired Bid is a Bid which has not been matched within 21 days and has been allowed to lapse. Once a Bid has expired it will not be displayed against a particular whisky but is visible in the My Trades section of My Account as an Expired Bid. Sellers cannot match an Expired Bid and it will not result in a transaction or purchase. A Bid can be prevented from becoming an Expired Bid by extending the bid.

How do I extend my Bid?
24 hours before your Bid is due to expire you will receive an email reminding you of the expiry date and inviting you to click on a link to extend your bid for another 7 days. If you do not extend your Bid it will lapse and become an Expired Bid.

How do I cancel my Bid?
A bid can be cancelled at any time before the expiry date providing it has not been matched by an Ask. To cancel a Bid go to My Account then My Trades. Select the Bid you wish to cancel and click on Cancel. You will receive an email confirming the cancellation.

If a Bid has been matched by an Ask there is no general right to cancel (as detailed in out Terms and Conditions); cancellation would be at the complete discretion of MALTDAQ.

My Bid has been ‘matched’ – what happens now?
The buying (transaction) process automatically starts as follows:
1. Your Bid will no longer be displayed against that whisky because the commitment to buy the specified whisky has now been met.
2. You will be informed by email that your Bid has been matched; this email will detail the Transaction Reference and the Total to Pay amount:
Buy Now Amount
+ Buyers commission
+ Delivery
+ Insurance (optional)
+ VAT

= Total to Pay

3. The Total to Pay amount will now be deducted from the debit / credit card you registered with MALTDAQ and held in a secure holding account.
4. MALTDAQ will arrange collection of the whisky from the seller within the next 2 working days.
5. MALTDAQ experts will examine the bottle in line with our Condition Guidelines and Verification Process.
6. Once successfully verified MALTDAQ will arrange delivery to you. Please make sure you have provided us with the most up-to-date shipping address for you by logging into MALTDAQ and clicking on My Profile on the My Account page.
7. When the bottle is ready to be delivered to you we will release your payment to the seller.
8. We aim to deliver all bottles within 6 days of a Bid being matched.
9. When logged into MALTDAQ, Sales Transactions and their status can be viewed on the My Trades section of the My Account page.
10. At every stage you will be kept updated by email buy any queries should be sent to support@maltdaq.com quoting the Transaction Reference number.

Can I cancel a Matched Bid?
Once a Bid and Ask are matched the transaction process automatically starts and there is no general right to cancel (as detailed in our Terms and Conditions); cancellation would be at the complete discretion of MALTDAQ.