What is the difference between market price and purchase price?

In InVintory, you can track wine prices using two key fields: market price and purchase price. Here's how they differ:

	Market Price	Purchase Price
What it is	Market price represents the wine's current value in the marketplace	The purchase price is the actual amount wine collectors pay to buy their bottles
How it's determined	Calculated using prices from Wine Searcher, Wine Market Journal, and user average data Users can also manually update or add their own market price data	Since this price varies, users can manually add in their purchase prices (we will never auto-populate this field)
Where to find it	Individual market prices are shown on the wine's label detail page Total market value of your collection is shown on the homepage	Individual purchase prices can be found by editing a wine's details Total purchase price is found under Profile, Settings on iPhone and iPad, and found on the homepage of the desktop site

Some collectors choose to compare the market price and the purchase price side by side, while others ignore the purchase price entirely and solely focus on the market price.

By understanding these differences, you can better track the value of your collection.

Understanding the total collection value

Understanding individual market prices

How to update market prices

Why is my total collection value calculation different on the app vs the export?

Where to see your collection's total purchase price