Pre-ordering new stock

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.

Buyers can place orders during a window, typically about a week long. At the end of this period, the stock is divided fairly between all purchasers to ensure that everyone can buy some stock.

Previously, when whisky was just launched directly on the order board, the most popular lines would sell out in a matter of seconds, meaning that some users were not able to purchase whisky.

How does pre-ordering work?

The new whisky is offered at a fixed price per Litre of Pure Alcohol (LPA). When placing an order, you are asked to give:

• Maximum quantity (LPA) & Maximum value (£): this is the most whisky you would like to purchase. You will need to have available funds to buy this amount. However, popular lines may sell out straight away and buyers wanting large quantities might not get the full amount they ask for.
• Minimum quantity (LPA): If you are not interested in purchasing only a small amount of whisky, set a minimum quantity. If the amount available per buyer is less than this, you won't be sold any whisky at all. If you're happy to purchase any amount of the new whisky (up to your maximum), then leave the minimum quantity at the default value of 1.

EXAMPLE

Alice, Bob, Carol & Dave all want to place a pre-order for a popular new line of whisky. They choose the following maximum and minimums.

• Alice: maximum 500 LPA, minimum 1 LPA.
• Bob: maximum 1000 LPA, minimum 1 LPA.
• Carol: maximum 8000 LPA, minimum 1 LPA.
• Dave: maximum 8000 LPA, minimum 1000 LPA.

After the cut-off time for placing a pre-order, all the orders are executed at the same time. If the line sells out so that there is only up to 890 LPA available per buyer, then Alice, Bob, Carol and Dave will buy the following quantities:

• Alice: 500 LPA. Alice set a maximum of 500 LPA and so won't buy any more whisky than that. As there was more than 500 LPA available per buyer, she gets her full amount.
• Bob: 890 LPA.
• Carol: 890 LPA.
• Dave: 0 LPA. Dave set a minimum of 1000 LPA. He didn't want to purchase a smaller holding of this line. As the amount available per client was less than this, Dave was not sold any of this whisky.

How do I choose the maximum and minimum to get the most whisky?

The aim of the pre-order process is to ensure that all interested WhiskyInvestDirect users have equivalent opportunity to buy some of the new line of whisky.

Setting a particular minimum quantity won't allow you to buy more whisky – but it might mean that you get no whisky at all. Leave this at 1 LPA to ensure you get at least some whisky.

Increasing the maximum won't mean you get more or less whisky if the amount available per buyer is less than this.

Can I cancel/edit my order?

You can cancel your order in the 'Pre-order new stock' section up until the pre-order closes.

To change your order, cancel your existing order and place a new one.

What happens after the pre-order period ends?

Whisky is sold to our clients according to their pre-orders. Any whisky not sold is made available through the order board.

Why can't I see the pre-order form?

The pre-order form is only visible when there's an open pre-order. The screenshot below is an example of what it looks like.