Review Time
Its wine. Wine is a long term investment. I see so many irresponsible people giving negative comments on here. What do you expect? Go and get a crate of wine keep it for 3 months and auction it on e-bay and see how you get on. I have a portfolio. I sold some. Sure it took a while. But it got done. Stop moaning. This is a 5 to 15 year play. Not some crypto rocket. Always had good interactions with all at Vinovest. Seems most if not all of the negative reviewers just wanted a fast buck. Wrong asset class.
Easily the worst financial decision I've ever made. I invested $10k in Vinovest years ago. I realized their valuations were way off market price and was getting crushed by their fees. So I decided to sell my wine. It's been almost 2 years now and still have close to $7k tied up in wine that they refuse to sell. STAY SO FAR AWAY from this company. Anthony Zhang should probably go to prison for defrauding investors in my opinion.
Not for small stock investors. I invested a small test investment of $4000 in November, 2020. Since that time, I have been asked multiple times to add more funds to my account to allow for the management fees of anywhere between $7 and $11 dollars a month. I added $200 (bringing the total investment cost to be $4200) strictly to pay for these fees, for the total return investment result of a *negative* 2.4% return from my initial investment amount almost 5 years ago. In fact, according to my account record there has been absolutely no management on my account since January. This business model runs entirely on the storage and trade management fees and is not self-sustainable through the actual trading of wine without additional funding from the investor to cover fees. Also, their website statement download area does not work for statements before August 2023, so all those statements are currently unretrievable.
It seemed a way to diversify some spare cash - but this has turned into a nightmare that I cannot get out of. They will give you all the support in the world to put money in, and assure ‘active management’ however extracting out has been (and continues to be) impossible. I accepted that there may be delays to sell wine, and that it is possible that values could go down (they have) this I was aware of going in.But 3 years ago, I asked them to liquidate my portfolio at any price and to get out and they they are have been unable to sell the wine they purchased for me - yet still continue to charge ongoing management fees.For 3 years I have been begging them to let me leave their ponzi scheme and yet it appears they won’t sell the wine and let me go…. I’m still technically a customer because I cannot get out!!!!
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Vinovest is a modern wine and whiskey investing platform that helps customers source investment grade wines, provide professional storage and custody solutions, and manage ongoing buying/selling recommendations. We have cultivated direct relationships with the most sought-after wineries and distilleries in the world. We pride ourselves on being able to source the most collectible wines in the world at the best prices.
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