Avoid this company at all costs I’ve never seen a company employ more scummy and poor business practices than this company. They will hold your money for years and then when they finally becomes avail... Toon meer
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I've requested liquidation of my account and withdrawal of all my funds numerous times. I finally sold my big loss wine for just $10 to try and get completely out of Vinovest. Sadly, I agree with the... Toon meer
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 th... Toon meer
Bedrijf heeft geantwoord
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 mon... Toon meer
Bedrijf heeft geantwoord
Bedrijfsgegevens
Geschreven door het bedrijf
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.
Contactgegevens
9900 Culver Blvd, 90232, Culver City, Verenigde Staten
- 9494158730
- anthony@vinovest.co
- vinovest.co
1,8
Slecht
278 reviews
Heeft 33% van zijn negatieve reviews beantwoord
Reageert doorgaans pas na meer dan 1 maand
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Discerning, educational, and fantastic
This company has been around for less than five years but wow! They are amazing. Great assistance for this first-timer. Beautiful and detailed descriptions for the wine(s) as well as suggested approx hold time clearly listed for each holding. Brilliant! I am so glad I found you. Many thanks for all the work done behind the scenes to make it possible for the everyday person to invest in wine, what typically is/has been reserved for few/the ultra-wealthy. Gratitude!
5 juni 2024
Review zonder uitnodiging
Antwoord van Vinovest
Hi Theresa,
Thanks for the kind words. We are so happy to hear you found the hold times and wine descriptions brilliant. Our dedicated team works tirelessly behind the scenes to be sure each investor has the information they need to make an informed decision. Glad the hard work shows.
This is a scam. Fake values to make it look like your portfolio is appreciating
This company is complete BS. It’s essentially a Ponzi scheme. They make it look like your portfolio is appreciating but if you try to sell it you learn its BS. I’ve had mine listed for a year and haven’t gotten any offers greater than 70% of the listed value. They then charge you huge monthly fees on top of it. Stay away from this. They respond to reviews and make it sound like people are just complaining that it takes a couple of months to sell. This is also BS. Beware, they are sneaky!
I am now editing this on 1/21/2025 and still have never been able to sell wine.
30 mei 2024
Review zonder uitnodiging
Antwoord van Vinovest
Hello Geoff,
Thank you for taking the time to share your feedback. We regret to hear about your frustration and would like to provide some clarity regarding your concerns.
Your wines were listed for sale to the outside markets, and while we understand the delays can be frustrating, the fine wine market operates on supply and demand dynamics. Selling wine often requires patience and time, as potential buyers are typically seeking specific vintages, regions, or price points. Our goal is to secure the best possible value for your wines, which can result in longer sale times depending on current market conditions.
Regarding the fees, they cover essential services like professional storage, insurance, and logistics to ensure your wines are maintained in optimal conditions in industry leading warehouses and ready for sale when the wine reaches its peak maturity. We strive to keep these fees transparent and are always available to answer any questions you have about the storage fees.
We take your concerns seriously and are committed to finding a solution for you as quickly as possible. Thank you for giving us the opportunity to address your concerns.
Negative investment returns and dodgy business ethics
Not only is their investment strategy overly hyped and misvalued, their management fee is absurdly high. I have lost 10% of my portfolio value over the last 3 years due to the continuously falling wine value and expensive management fees eating into the non-existence product. In hindsight, I would've made 25%+ on S&P alone and Vanguard's management fee is 0.07%.
Decided to cut loss and liquidate my account 3 weeks ago and mentally prepared to take a bigger hit to sell my wines 20% below market (what they claimed to be at least) for a quick exit. It's been a month and one of the wine just wouldn't sell. Not sure if this is their tactic to not let customers cash out, because they have a term for full refund ONLY if ALL wines are sold.
I asked for a partial refund on 16 May, got their customer success team, Robyn, to help and connected my bank account to my Vinovest account and said the refund will take a week to execute and someone from accounting will make it happen. 2 weeks later, nothing, and Robyn stopped replying. This is not very confidence inspiring and absolutely not OK.
Dodgy business practice. Wondering if there are any class action lawsuits happening. If so, I will join the bandwagon if I don't get my money back by mid-June.
Invest with them if you don't like your hard-earned money.
30 mei 2024
Review zonder uitnodiging
Antwoord van Vinovest
Hello Douglas,
Thank you for taking the time to share your feedback. We sincerely apologize for any frustration caused during your investment journey and liquidation process.
We wanted to confirm that your wines have all been sold and that the funds have been successfully returned to your account. We understand the delays you experienced were not ideal, and we deeply regret the inconvenience this caused.
At Vinovest, we strive to provide a seamless experience, but we acknowledge that in this instance, we fell short of our standards. The fine wine market operates differently than traditional investment markets, and while we work to align with our clients' expectations, challenges in sales and timing can occur. We are actively reviewing this situation to ensure better communication and faster resolutions in the future.
We appreciate your patience.We value your trust and are committed to improving based on your valuable feedback.
Poor management of funds coupled with…
Poor management of funds coupled with dishonest asset valuations make for a deeply disappointing experience. What was put out as a managed account ends up being more work than it's worth when Vinovest screws up and leaves you to clean up the wreckage. Stay far away.
1 mei 2024
Review zonder uitnodiging
Antwoord van Vinovest
Hello Dan,
Thank you for taking the time to provide us with your feedback and to share your concerns. We are sorry to hear your experience has not met your expectations.
We strive to provide a user friendly platform for each customer to easily invest in wine as an alternative asset. Our wine team uses their expertise to analyze wine performance in the markets to determine the best time for wines to be sold. It takes years for wine to mature and reach its peak market value. Wine investing is a long term asset and does require patience. We do apologize if this was not communicated thoroughly with you when you began your investment with Vinovest.
Thank you again for your feedback. Please reach out to our support team if there are any questions we can answer for you or if we can be of further assistance.
Lots of Hidden Fees - Avoid
I invested in Vinovest's whiskey casks and it has been a bad experience. Twice they have charged hidden fees that were not shown upfront and customer service is terrible. The purchase total on one cask showed $1,650 and the rep emailed and said that was the actually total including all fees, but then my credit card showed I was actually charged $1,699. The purchase price shown before you hit submit on your payment is not what you are ultimately charged and they don't show your true total BEFORE they charge you. Use a credit card that makes it easy to dispute charges in case it ends up costing more than you are OK with being charged. They advertised a whiskey cask that I wanted and told me it was available and to deposit the funds in my account to purchase it, then they used my money to purchase a completely different lower quality whiskey that won't earn as much, without even asking me! Your account portfolio will show purchase prices but not all the hidden fees that they are charging you. I gave them a second chance and the company proved its just a bad company.
21 mei 2024
Review zonder uitnodiging
Antwoord van Vinovest
Hello,
Thank you for sharing your feedback and for bringing your concerns to our attention. We’re truly sorry to hear about your dissatisfaction with your experience and any confusion regarding the charges and cask purchase process.
Regarding the credit card fee you mentioned, we strive to be transparent with all associated costs. The fee is a standard processing charge applied directly by the payment processor, and it is disclosed prior to completing the transaction. You will also find a detailed explanation of all storage and insurance fees in our FAQ and throughout the platform. However, we regret any misunderstanding that may have occurred and will review our communications to ensure they are as clear as possible moving forward.
As for your concerns about the whiskey cask purchase, we deeply apologize if the process did not align with your expectations. Our goal is always to match our clients with investments that meet their criteria.
Thank you again for taking the time to share your feedback.
Be care
Hey, everybody. I feel bad to say this, but it seems to me that this site has stopped cooperating with me and does not want to withdraw money.
Earlier, in January, I made a deposit and traded. In March I wanted to withdraw my funds, but problems started. Support has been silent for several weeks. At the moment I do NOT recommend this site.
7 mei 2024
Review zonder uitnodiging
Antwoord van Vinovest
Hello,
Thank you for taking the time to share your experience. We sincerely apologize for any delays or inconvenience you may have faced during the withdrawal process.
We want to confirm that all your funds have now been returned, and we deeply regret any frustration caused by potential delays in communication. At Vinovest, we strive to provide a smooth and transparent experience for our clients, and your feedback highlights areas we can improve upon.
If there’s anything further we can assist you with or any remaining concerns, please don’t hesitate to reach out to our support team directly. Your satisfaction is our priority, and we appreciate your understanding.
Do not even touch it with a 10-foot pole
I signed up to Vinovest in Dec 2021 and this is my ongoing feedback over the past 2.5 years.
1) They will utilize all your monies to purchase the maximum amount of wine. This will leave you with very little liquid fund.
2) Thereafter, they will bill you a high % as monthly fees, thereby forcing you to top up more into your account to avoid incurring additional % as late fees.
3) The value of the wine indicated on paper is never truly the amount you will sell it at. The "last sold prices" is often much lower than even your purchase price.
4) The statement that they "typically take 6-8 weeks to find a buyer" is probably false. My wines have been listed for months and nothing is moving.
5) If you any express interest in WhiskeyVest, they will immediately take your funds to "purchase barrels", thereby locking you into a 3-5 year period where you are unable to liquidate any funds. This is done without any of your consent.
6) The website makes it easy to put your money in, but extremely hard to take it out. It is designed to frustrate you so that you give up.
7) Support is extremely minimal and hard to reach out to. In the event that they do respond, the messages are generic. Should you reply them within minutes of receipt, you will not get any further replies.
In short, this is probably a scam, and if it were a "legitimate" business, it is an unethical one designed to extract as much funds from you without returning you anything. You will definitely be poorer "investing" with them. This is a costly lesson that I rather not learn.
1 mei 2024
Review zonder uitnodiging
Antwoord van Vinovest
Hi Michael,
Thank you for taking the time to share your feedback. I am so sorry to hear your experience with Vinovest did not match your expectations and if there was any misunderstanding on how the Vinovest platform works as a whole for all managed accounts. This is never the client experience we want our investors to have.
We strive to be transparent with our investors surrounding all aspects of their investment, including the hold time for their wines and whiskey, monthly storage fees and expectations on timing for sales completion.
It's essential to emphasize that the monthly storage fees are crucial for maintaining the quality of your stored wines and whiskey and ensuring that they remain in pristine condition until they are ready to be sold. All cases of wine and casks of whiskey are stored in state of the art bonded facilities.
Part of our responsibility in managing your portfolio is to manage your funds by finding wine and whiskey that best fit your portfolio and investment needs. Each case of wine or cask of whiskey is chosen by our team of experts based on the composition of your Vinovest portfolio to maximize the diversification of your portfolio.
We continually work to improve our communication pipelines with all of our investors to insure they are receiving updates in a timely manner and all questions are answered with the most accurate information available.
Please be on the lookout for an update on your portfolio from our support team in your email.
Thank you again for your feedback.
Vinovest is scam
Vinovest is scam. When you ask to close your account, you have to liquidate your assets but after 2 months of my wine not selling, will I ever see my money? I put in enough to buy a case with some leftover and without consultation or auto invest set up they bought another case of wine with my money. Also, I haven’t made any money but lost money so I would like to get out before I lose more money but you can’t get your money back.
17 maart 2024
Review zonder uitnodiging
Antwoord van Vinovest
Hello Kelley,
Thank you for taking the time to share your feedback. First, we want to assure you that Vinovest is not a scam. Our goal is to maximize your potential gains by leveraging a strategy of diversification and long-term growth. We understand that some investors may choose to sell their wine investments early before they have met their market potential and this can be a challenging and time-consuming process. Patience is required to find potential buyers in a niche market like fine wine or whiskey. When a customer chooses to sell their wines early they are listed for sale to markets outside of the Vinovest ecosystem and our wine team also actively works to secure offers for each wine.
We are here to assist you in any way we can. However without additional information we are unable to verify your account. If you’d like to discuss your account or have specific questions about your portfolio, please reach out to our support team. Our team is more than happy to provide additional insights and support.
Thank you for your feedback and for trusting us with your investment. We value your partnership and will continue to work hard to meet your expectations.
THEY HAVE STOLEN FROM ME
THEY HAVE STOLEN FROM ME, SOLD MY WINE AND KEPT THE MONEY! STAY AWAY ITS A SCAM. NOW I HAVE TO INVOLVE THE LAW FOR THIS AND IT MAKES ME SICK!
15 maart 2024
Review zonder uitnodiging
Antwoord van Vinovest
Hello,
We take accusations like this very seriously and want to address your concerns as quickly as possible. However, we have been unable to locate your account in our system based on the information provided. We also reached out for additional details to verify your account but have not received a response.
Our team is committed to resolving this matter and would like to assist you further. Please contact our support team directly with your account details so we can investigate and resolve this issue promptly.
Thank you for your cooperation, and we look forward to assisting you.
I have been with vineovest since past 3…
I have been with vineovest since past 3 yrs. definitely this is shady and scam business. I m figuring out if is there a legal way that can be proceeded with this compnay as whatever they have advertised and practices they are carrying are shrewd and customer support sucks.
1 februari 2024
Review zonder uitnodiging
Antwoord van Vinovest
Hello,
Thank you for taking the time to share your experience. We are sorry to hear about your dissatisfaction and any frustration caused during your time with Vinovest.
We want to assure you that Vinovest operates with transparency and integrity. Our goal is to provide clients with a reliable platform for fine wine investment, adhering to the standards of the industry. We understand your concerns and take feedback like yours seriously to refine our processes and improve our services.
If you believe our practices have not aligned with your expectations, we’d like to better understand your situation and address your concerns directly. Please reach out to our support team directly. We are not able to verify an account with this name in our system and we want to be sure we can assist you with your concerns.
We value your trust and are committed to resolving this matter in a fair and timely manner. Thank you for bringing this to our attention.
Do not invest with this company
Do not invest with this company! I have been contacting support weekly to try to liquidate my "managed portfolio", and have not gotten a single response. What good is an investment if you can't liquidate it, or even contact the people who hold your investment. I 100% regret investing with Vinovest.
21 februari 2024
Review zonder uitnodiging
Antwoord van Vinovest
Hello Jack,
Thank you for sharing your feedback. We’re sorry to hear about your frustration and want to address your concerns regarding liquidating your managed portfolio.
At Vinovest, we strive to provide responsive support and assistance with all aspects of our clients’ investments. However, we are unable to locate or verify your account based on the information provided in this review. To better assist you, we kindly ask that you contact us directly with your registered email address and/or name. Once we have this information, our team will prioritize resolving your concerns promptly.
We are committed to helping and ensuring your experience meets your expectations. Thank you for bringing this to our attention, and we hope to assist you soon.
Previous review 29 Jan
I previously wrote a review on 29 Jan. Vinovest has actioned my complaint. A company operating to good procedures doesn't need bad reviews to get favourable responses. I don't know even if any notice is taken of these reviews by the current members. Certainly are though by prospective members doing there research. For me I believe there are better ways to invest, however for those of you who want some excitement, go ahead and experience wine investment. To describe it in another way, it's like the stock market in slow motion.
18 januari 2024
Review zonder uitnodiging
Antwoord van Vinovest
Hi Warren,
Thank you for taking the time to provide an updated review of your experience. We are so glad we were able to assist you in correcting your previous issue. We appreciate any opportunity to be able to grow and improve through feedback.
If there is anything else can help you with please reach out at any time.
Thank you again!
Great experience all around!
I received an email with an offer to get started on investing in whiskey barrels. I made some deposits to start and wasn't sure what happens after that. Hunter responded to an email I sent and helped ensure everything went through and took time to respond to additional questions as well. He was clear and made sure I understood the process fully and helped my transactions go through. I look forward to seeing how these invenstments pay off.
22 januari 2024
Review zonder uitnodiging
Antwoord van Vinovest
Hello,
Thanks for sharing your positive feedback. We love to hear our whiskey team was able to walk you through the process of investing in whiskey and explain each step of the process for you. Please let us know if we can help you with anything else.
Very Thorough Platform
I appreciate the ability to be able to invest in whiskey lots. The platform to check on investments is a great tool as well. Looking forward to continuing the journey.
11 januari 2024
Review zonder uitnodiging
Antwoord van Vinovest
Hi Terry,
So glad the addition of the the option to invest in whiskey lots works for you and your investment plan. We look forward to working with you throughout your whiskey investment journey!
Get Out While You Can
I first opened my Vinovest account in August of 2020 with ~$5,000 in deposits. About a month ago, I decided to add another $5,000 to my existing Vinovest account in order to expand my wine portfolio. Three weeks later, Vinovest moved the money out of my wine account and used it to buy Whiskey investments without my knowledge or consent. I had not made any investments in Whiskey prior to this and had no intention of doing so. I sent three messages to Vinovest customer support asking that this transaction be reversed but have not heard anything from the company in weeks.
I am now trying to liquidate all assets I have with Vinovest and have discovered that there is no option on their site to sell the whiskey they purchased with my money. My wine portfolio has now been listed for sale but the estimated value of the wines (in my portfolio for the past 3.5 years) somehow mysteriously dropped within an hour of listing them for sale. It remains to be seen if I will ever get any money back from this company...And wouldn't you know it, Vinovest has no posted phone number to reach out to when multiple messages are ignored.
If you haven't given your money to this predatory company yet, don't.
10 januari 2024
Review zonder uitnodiging
Antwoord van Vinovest
Hi Dave,
Thank you for bringing your concerns to our attention. We’re deeply sorry to hear about the difficulties you’ve experienced and the frustration caused by this situation.
We genuinely want to assist you and thoroughly investigate your concerns, but we’re unable to locate or verify your account with the details provided in this review. To fully address the issues you’ve mentioned, we kindly ask that you reach out to us directly to our support team via email or phone, which was recently added as an additional support option for all of our investors.
We understand how critical clear communication in how your portfolio is managed is for all investors and sincerely apologize if any of your prior messages went unanswered. This is not the level of service we strive to deliver.
Thank you for your patience and understanding. We value your feedback and look forward to resolving this for you as quickly as possible.
Antwoord van Vinovest
Hi Adam,
Love to hear you are happy with the whiskey cask in your portfolio!
The worst customer support
All managed wine in my account was selected by Vinovest. The value of this wine was significantly below the value posted by Vinovest on my statements. I tried to sell the wine on their account (sold most of it at a significant loss). Although I've asked Vinovest to forward all cash in my account to me, they failed to do so. When I complained (via email), the value of my account went to zero (and showed no activity to bring it to zero) and no funds have been remitted to me. I've sent several emails to customer support and senior executives but have not received any responses or acknowledgements to any communication.
31 december 2023
Review zonder uitnodiging
Antwoord van Vinovest
Hi Mark,
Thank you for your feedback. I am so sorry to hear your experience with Vinovest did not match your expectations and if there were any issues with the return of your funds after your wine sales were completed. This is never the client experience we want our investors to have.
Our goal is for all investors to experience a smooth process from start to finish of their portfolio liquidation, including the return of their funds. Unfortunately this is not always the case and some circumstances require additional support to resolve. After reviewing your account I have confirmed that each of the wines in your portfolio has sold and all funds have been returned to you. We do apologize for any delay that occurred while our team completed the full closure of your account and if there was any delay in our support team’s communication.
Thank you again for your feedback.
investor review
I’ve been investing with this company for the last couple of years and have been very happy with it. I’m up reasonably well, well diversified, and it’s an asset class I normally wouldn’t have access to.
19 december 2023
Review zonder uitnodiging
Antwoord van Vinovest
Hi Shawn,
Thanks for taking the time to share your awesome experience. We always love to hear when we are able to help bring wine as an alternative asset to those who may not have had the opportunity before.
enjoy the journey!
Too easy
Always looking for alternatives...whiskey barrels seems to be a reliable alternative and this company makes it very easy to invest in that asset class
21 november 2023
Review zonder uitnodiging
Antwoord van Vinovest
Hi Collin,
Thanks for sharing your feedback. We are thrilled we've been able to help you diversify through whiskey barrels and you've found the process easy.
thanks again!
SCAM
If you want to sell your wine, you have to auction it off YOURSELF! And the value they say your account is well above the value people are bidding for your wine. DO NOT INVEST HERE!!!
11 november 2023
Review zonder uitnodiging
Antwoord van Vinovest
Hello Ted,
We are sorry to hear your experience with your investment with Vinovest has not met your expectations. Our goal is to provide each of our valued customers with transparency on wine as an alternative investment asset from start to finish; including estimated wine values, market conditions as they change and how to sell your wines if you choose to sell early. We value your feedback as we continue to grow and make adjustments to best serve our customers.
Thank you again.
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