Bid for wine online

In an extension of online bidding services such as eBay, two Australians have started an internet based site on which customers bid for bottles of wine.

In an extension of online bidding services such as eBay, two Australians have started an internet based site on which customers bid for bottles of wine.

Snup.com.au was started by Melburnians Duncan Banks and Stephen Lee in 2007. They wanted to start a new service for wine lovers with a solid customer service base around a particular market.

Customers browse the site’s wine database and bid for tipples. Once a seller accepts that bid – within 48 hours – a credit card is charged and the selected wine is sent out promptly with no shipping fees.

The name refers to the purchase of something valuable which another has discarded as worthless.

While the start-up is just getting on its feet, revenue hasn’t taken off just yet. But according to Banks, Snup is forecasting $500,000 for the site’s first year.

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