What is a Priority Pre-Order?
A Priority Pre-Order is a dedicated pre-order open only to customers who have sold older liquids to a corresponding Bulk Trade Bid.
When and Why does a Priority Pre-Order happen?
A Priority Pre-Order occurs when industry clients agree to match each litre purchased with a litre of new fill liquid when buying into a Bulk Trade Bid (BTB). This allows clients to reinvest their funds into new stock.
What is the difference between a Pre-Order and a Priority Pre-Order?
Each year WhiskyInvestDirect purchases new whisky which is launched onto the platform for all clients to purchase. In order to ensure that all users have an opportunity to buy whisky in new stock lines, you can apply to purchase stock before it goes live on the order board. The stock is offered at a fixed launch price, and anyone can place an order to buy the quantity they desire.
A Priority Pre-Order ensures that only clients who have sold whisky to corresponding Bulk Trade Bids will be given the chance to invest in new liquid in exchange for older whisky. Unlike a regular pre-order, in a Priority Pre-Order you are guaranteed to receive all the liquid you request, up to the volume sold to the corresponding Bulk Trade Bid.
How will I know if I qualify for a Priority Pre-Order?
When your whisky qualifies for a Bulk Trade Bid, you will receive an email notification. If a Priority Pre-Order is attached to a bid, you will receive a second email shortly after the first one, informing you that you will be offered litre-for-litre priority on a new upcoming filling.
Once the Bulk Trade Bid is completed and you have sold stock into it, a notification will appear on your Pre-orders page stating that you are eligible for an upcoming Priority Pre-order.
How long do I have to submit my Priority Pre-Order?
You will receive a notification when the priority pre-order is launched. You will have 5 days to place your order. After this window, it will not be possible to order your whisky.
Does my account have to be funded?
Yes. Your account must have enough available funds to cover the desired volume of whisky you wish to purchase.
What happens if I sold multiple lines to qualifying Bulk Trade Bids?
Each qualifying Bulk Trade Bid is separate, and so it is possible you will be involved in multiple Priority Pre-Orders on different dates. You can keep track of your current and upcoming Priority Pre-Orders via your Pre-order page.
How does a Priority Pre-Order work?
The process is similar to a Pre-Order however only qualifying clients will be notified of new whisky launches.
The new whisky is offered at a fixed price per Litre of Pure Alcohol (LPA).
Unlike a Pre-Order though the maximum you will be able to purchase will be capped to the total volume you sold in the corresponding Bulk Trade Bid.
When placing an order you will be asked for:
Quantity (LPA) & Value (£/$): this is the amount of whisky you would like to purchase up to the capped volume. You will need to have available funds to buy this amount. There is no maximum or minimum, since you are guaranteed to receive the full amount you request.
Emily receives notification of a Bulk Trade Bid for her holding of Auchroisk 2012 Q4. She also receives an email telling her that the bidder has agreed to replace all whisky sold to the bid with new fill liquid on a litre-for-litre basis. She sells 75 LPA to the bid, and it closes successfully.
When the bid closes, Emily sees a notification on her Pre-Orders page that the priority pre-order connected to that Bulk Trade Bid is coming soon. Two months later, the new whisky arrives, Inchgower 2023 Q2, and the Priority Pre-Order goes live.
Emily logs in and navigates to the pre-order page, where priority pre-orders will show.
Emily can choose a volume to purchase, up to the volume which she sold to the original bid, and then place the order. She orders her full allocation of 75 LPA.
After placing the order Emily will be asked to confirm it before the order is executed.
As it is a priority pre-order, the full volume will be allocated, and Emily receives 75 LPA of Inchgower 2023 Q2 after 5 days when the pre-order closes.
Can I cancel or edit my order?
Once your order has been placed you cannot cancel your order. If your first order is below your maximum allocation, you may place additional orders up to the full allocation.