Vinovest Reviews 278

Terrible experience. Customer service is bad and you can never close your account. Avoid at all costs.

Absolute diabolical operation. Don't do it!

Massive scam! They told me there was a technical issue with the platform that did not allow me to pay my overdue fees as I could not login. They then sent me an email to say they had liquidated parts of my portfolio (at half the price of what I had paid originally four years ago) because I had not paid my fees. On top of that they have been charging me 100s of pounds in fees over the years despite me not even being able to login to see my portfolio. Fraudulent company - do not investment

Thsi is the biggest mistake i have ever made. You read about how adventurous and lucrative wine collecting can be and I just choose the wrong partner. Vinovest is just plain bad at what they do and it is just geeting worse. How can wine collecting be lurative whe they have over 4000 wines for sale on their marketplace many at 20 to 50% off the estimated value and even then they are not selling. I have asked for my over 100 botles to be shipped to me here in the US which is part of thier sales pitch so I can "enjoy" them. I will be sure to post the reponse. Stay away.

Scam company, estimated valuations are nowhere neaer mkt price, you will never be able to sell your wine for nearly what you even paid. Takes months to sell at pennies on the dollar, all the while they are charging storage and other fees. Shipping cost is ridiculously expensive to take delivery, was quoted 500USD to ship a half case. Wish I never gave them any $, stay away.

I feel trapped. The market is completely illiquid, which makes it near impossible to get out of your investment once you're in. You can list your wines for sale, but even after putting them up for months at an almost a 50% discount, they don't sell. All the while you're constantly forced to pay monthly fees. When I signed up they said you could physically redeem your wines, but the reality is that they'll charge you an extortionate amount for shipping and insurance which makes it non viable. Truly a modern day scam, it's difficult to understand how they haven't been shut down by the FCA.

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.

I have nothing positive to say about this company. I strongly do not recommend it.

Had an easy and smooth transition. The portfolio advisor made it simple and easy for me to get started. She answered all my questions timely and helped me through all the processes.

Very pleased with the transparency and no pressure approach of their advisors. Readily answered all my questions in detail. I’m delighted to share this opportunity to invest with Vinovest!!!

Great experience, great team.

Great upside investment with low downside risk

Vinovest has been incredible to work with! I wanted to learn more about investing in this unique space and the onboarding was clear and simple.

Great tasting, great selections, would love to do a tasting+dinner next time around.

Absolute scam. Watch out for storage costs too.

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!!!!

I was misled by false reviews and nearly lost everything. I owe everything to those in the bio who stepped in when I needed it most.

They engage in false advertising on their yields, & the fees are BS. This operation hasn't scaled for a reason.

SCAM!

I diversified a lot of my investments. Someone told me about Wine portfolios, hence why I too have a bunch of money tied up in wines. Anyway, I have the same issues. I'd say my entire portfolio is down about 39%.

Trying to sell wines results in them never being sold, or you "supposedly" get bids for them that would result in you taking a significant loss. I tried cashing in my wines....aka, absorb the loss, have them ship the wines to me so I can drink them. All of a sudden, their "System is down" to process such requests.
Then they hit you up for these management fees which suck out ANY potential gains you might have ever made.

Their customer support is terrible... to the point you feel like you want to put a fist through your monitor at how angry they make you. I just want out... I want out of their shitty scammy framework. However, I want to hold them accountable for the wines they supposedly put in my portfolio. I want to see those wines.... I want to drink them.

Anyway... for anyone considering using them. Stay clear. Its a TERRIBLE investment unless you are looking for one to dump money into and take sustained losses year over year.

I have basically written off my initial investment as they won't ship me my wines (without it costing as much as my initial investment just for shipping, ironically) and their is 0 demand in their marketplace to actually sell them. Its all just a big scam folks. They lock up funds to secure high monthly fees and do everything in their power to push you off (in fact they don't even respond to me anymore- full ghost). And I am 99% sure they do not have the wine they say they do, nor actually store it. I could go on for a few hours here on all the problems I have encountered with the team over the past few years, but its not worth it...its a shame- could have been a strong company with a lock on the market in the US. But that is what greed does to certain young founders. What a shame!