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Selling Guide

There are two ways to sell whisky on MALTDAQ – ‘Sell Now’ or ‘Enter Ask’.

‘Sell Now’

A seller may instantly see a Bid (or price) they are willing to sell for; in which case they should use the ‘Sell Now’ button. MALTDAQ’s system will only allow a ‘Sell Now’ to go ahead at the current highest Bid as this is the best price offered by buyers at the time.

Clicking Sell Now displays a screen which details the Total Payout amount; this is the:

   Sell Now amount

– Sellers commission

– Delivery / Bottle collection

– VAT

= Total Payout

Confirming Sell Now immediately starts the sales or transaction process and the Buyers payment will be deducted from their debit / credit card 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.

When there is no Sell / Ask price displayed:
If no Bid has been placed for that whisky then Sell Now can’t be actioned as a buyer hasn’t offered a price. In this case a seller can ‘Enter Ask’, indicating to potential member buyers that a seller is willing to sell that whisky for the entered amount.

‘Enter Ask’
An Ask is a signal which a member seller makes to the MALTDAQ community of a commitment to sell that whisky for the Ask amount indicated. Members place Asks by entering the amount (in £) in the Enter Ask box.

Clicking Enter Ask displays a screen which details the Total Payout amount which is the:

Sell Now amount

– Sellers commission (currently 0%)

– Delivery / Bottle collection

– VAT

= Total Payout

Confirming Enter Ask is a commitment to sell for the Ask amount and to make that bottle of whisky available to MALTDAQ for collection.

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

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

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

What is an Expired Ask?
An Expired Ask is an Ask which has not been matched within 21 days and has been allowed to lapse. Once an Ask 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 Ask. Buyers cannot match an Expired Ask and it will not result in a transaction or sale. An Ask can be prevented from becoming an Expired Ask by extending the ask.

How do I Extend my Ask?
24 hours before your Ask 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 Ask for another 7 days. If you do not extend your Ask it will lapse and become an Expired Ask.

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

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

My Ask has been ‘matched’ – what happens now?
The sales (transaction) process automatically starts as follows:

  1. Your Ask 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 Ask has been matched; this email will detail the Transaction Reference and the Total Payout amount:

Sell Now amount

– Sellers commission

– Delivery / Bottle collection

– VAT

= Total Payout

  1. MALTDAQ will arrange collection of the whisky from you within the next 2 working days.
  2. You will need to prepare the bottle for collection following our Packaging Guidelines.
  3. MALTDAQ will email you the shipping label which you’ll need to print and attach to the packaging box ready for collection by courier.
  4. On receipt MALTDAQ experts will examine the bottle in line with our Condition Guidelines and Verification Process.
  5. Once successfully verified MALTDAQ will deliver the bottle to the buyer.
  6. On delivery we will instruct our 3rd party payment provider to release the Total Payout to the bank account you have registered with MALTDAQ. Please make sure you have provided the most up to date bank account details are by logging into MALTDAQ and clicking on My Profile on the My Account page. The Payout may take up to 5 working days from delivery to appear in your account.
  7. When logged into MALTDAQ, Sales Transactions and their status can be viewed on the My Trades section of the My Account page.
  8. 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 Ask?
Once an Ask and a Bid 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.