A new company,
eProvenance, just launched with a holistic solution for verifying a wine's provenance (defined as "authenticity, traceability, and knowledge of storage temperatures"). Read the
press release.
How it works
There are three physical components to eProvenance's system:
- Temperature-monitoring RFID tags at the case level (temperature is recorded 3x a day)
- Identification RFID tags permanently affixed in the punt of each bottle
- Anti-counterfeiting neck seal
These three components may be implemented independently but are most effective when used together. All are linked via their unique identification numbers to an online database which may be accessed directly from the
eProvenance website.
The key consumer benefits
If eProvenance is successful, the upside for consumers is that they'll be able to buy fine wine with greater confidence that it's both authentic and undamaged by poor handling in the distribution chain up until the point of purchase from the retailer. If the eProvenance system could be extended to cover the aging period of the wine after the consumer's purchase, either while the wine lies in professional storage or in the customer's own cellar, one could imagine obtaining future valuation premiums for the verifiable provenance.
Implementation challenges
The challenge of course in implementing "big" ideas which require multiple layers of industry participants to cooperate is to obtain a critical mass of users. The Company has nine leading Bordeaux chateaux, including some first-growths, involved in implementing programs and is berginning discussions with importers and distributors. The estimated cost of a total solution to the producer is about €1.60 (about $2.50) per bottle of which about half is attributable to a per bottle allocation of the temperature monitoring component.
In a conversation with CEO, Eric Vogt, he explained that the greatest interest from chateaux has been in the temperature-monitoring component of the solution. For a few eye-opening stories on why that may be of greater concern than authenticity, read a few new posts on Jancis Robinson's site (which is what stimulated this one) titled
What happens to your wine in route and
Schildknecht on reefer madness.
Bottom line: eProvenance has tackled a big problem which stands to benefit all wine collectors. As I've advocated in prior posts, wine of excellent provenance is more than worth the price premium that it commands. The success of eProvenance depends on all market participants agreeing with that premise.
P.S. Also read these prior posts:
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