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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I like the new update
I like the new update - managed portfolio. Excited to see the performance over the next year. It would be great to have some form of update/short note that sums up the why behind the changes in the portfolio - this way I can also learn ongoingly about the wine market.
24 april 2023
Review zonder uitnodiging
Antwoord van Vinovest
Hi Cate,
Thank you so much for your feedback. We are absolutely thrilled that you have been enjoying your experience with Vinovest so far! We are excited for the new updates as well!
Thank you again for your feedback and for for being a part of Vinovest!
I have really tried with this company
I have really tried with this company, but I’ve got to the point where I really don’t trust them anymore.
They have had my funds for over 2 years and the wine is worth less than when purchased..
Despite this I have kept my cool and asked to speak with someone as to whether we should sell them and reinvest the money into different wines. (Not all investments pay off, I get it).
What I’ve come to realise is that I’ll get 1 automated response, and then they’ll never reply again. I have sent over 15 emails and no one ever replies.
I decided to give it time, wine doesn’t appreciate in value by the day, so I waited. 8 months further passed and my management funds are down to $15, I knew I was going to have to add money just to cover these costs, however, I received an email from them….
They have enrolled me into a balancing scheme where they sell the wines and reinvest the money into different wines. Weirdly this is what I wanted almost a year ago, so why now.
What I realised, is that they are going to sell my wines, buy cheaper ones to free up cash so I can keep paying their management fees. I have had no say in this, and when I try emailing them I’m having the same issue as I was 8 months ago.
If the wine takes 10-15 years until it reaches its peak, why would you sell it after 2? And why not a knowledge my concerns when I raised them with you.
Over all, I am incredibly disappointed with this company, and I’m scared to see what happens when I try to close this account given the other reviews on here.
If someone, an actual person from Vinovest reads this, please call me. As i am fed up with the fact I can’t even speak to someone.
However, given what I know, it will probably be the same generic response everyone else who is unhappy has received.
22 april 2023
Review zonder uitnodiging
Antwoord van Vinovest
Hi Christian,
Thank you for your feedback. I am so sorry to hear your experience with Vinovest did not match your expectations.. 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 wine investment, including rebalancing strategies. Our team will follow up with you in email. Your feedback is very important to us as we continue to grow.
Thank you again for your feedback.
It was really helpful talking to hunter
It was really helpful talking to someone about the platform, that conversation convinced me to invest. Website is great, but it does get confusing between the wine and whiskey parts.
5 april 2023
Review zonder uitnodiging
Antwoord van Vinovest
Hi Kevin,
Thank you so much for your feedback. We are absolutely thrilled that your conversation with Hunter was so great and you have been enjoying your experience with Vinovest so far!
Thank you again for your feedback!
I do not recommend sending your money…
I do not recommend sending your money to Vinovest. I liquidated an investment months ago and have not received my cash. They have stopped answering emails and I am concerned they are not going to send my investment money back.
6 juni 2022
Review zonder uitnodiging
Antwoord van Vinovest
Hi Brendan,
Thank you for your feedback. I am so sorry to hear your experience with Vinovest did not match your expectations..
Our team will thoroughly review your account and get this resolved for you as quickly as possible.
We strive to be transparent with our investors surrounding all aspects of their wine investment and withdrawal. Your feedback is very important to us as we continue to grow.
Thank you again.
My only experience with the company so…
My only experience with the company so far has been inserting funds and having them purchase bourbon with my funds. So far so good.
31 maart 2023
Review zonder uitnodiging
Antwoord van Vinovest
Hi Erik,
Thank you so much for your feedback. We are absolutely thrilled that you have been enjoying your experience with Vinovest so far! Love to hear the initial process went so smoothly for you.
Thank you again for your feedback!
Great….. BUT
I like the interface of the app and on the web. I’d like more data on the whiskey vest side. I have a cask, and would like more info about when I’ll be seeing my bi annual review. I feel a little in the dark about that.
Also, for both whiskey vest and the managed wine, my deposits exceeded what was actually needed to execute the order, so I just have cash hanging there.
Id love to be able to transfer it over between them all, or be able to withdraw it if needed. Can’t access right now.
10 april 2023
Review zonder uitnodiging
Antwoord van Vinovest
Hello,
Thank you so much for your feedback. We are absolutely thrilled that you have been enjoying your experience with Vinovest so far!
Our team is happy to help transfer funds between your wine managed and whiskey accounts and to help withdraw any excess cash in your account. Feel free to reach out and we can help with this right away.
Thank you again for your feedback!
Do not invest with Vinovest
EDIT: Swift onboarding, bad experience afterwards. Pulled my money away three weeks after my investment due to lack of transparency and bad customer support.
Have not received my money refund yet, so we will se how that process goes.
My advice: don't invest with Vinovest if you don't personally know someone who has invested and exited happily, and who can vouch for this company.
28 maart 2023
Review zonder uitnodiging
Antwoord van Vinovest
Hello Raimundo,
Thank you for taking the time to provide us with your feedback. We are truly sorry to hear that your recent experience with Vinovest did not meet your expectations. Please know that this is not the type of experience we want our valued investors to have.
We pride ourselves on being transparent with our investors and keeping them informed about all aspects of their wine investments. We appreciate the opportunity to address your concerns and provide additional background on the matter.
We take your feedback very seriously and will use it to improve our services and provide better experiences for our clients. Once again, we apologize for any inconvenience caused and appreciate your understanding.
Thank you again for your feedback.
Simply Beautiful CONGRATULATIONS 🎊 👏…
Simply Beautiful CONGRATULATIONS 🎊 👏 💐 🥳 ❤️
25 maart 2023
Review zonder uitnodiging
Antwoord van Vinovest
Hello,
Thank you for your feedback and your kind words!
Please let us know if there is ever anything we can do to help.
Cheers,
Invested $1000 as a starter 1 year ago
Invested $1000 as a starter 1 year ago. Now up $30. Big deal.
8 maart 2023
Review zonder uitnodiging
Antwoord van Vinovest
Hi Paul,
Thank you for your feedback. I am so sorry to hear your experience with Vinovest has not matched your expectations.. 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 wine investment. The wine asset class is a long-term game. As we try to make clear to all our valued clients, it can take 5 years or more for wines to appreciate into their peak maturity.
Please feel free to reach out to our team with any questions you have about your portfolio and investment.
Thank you again for your feedback.
Vinovesto Great Platform
I enjoy this platform and love their customer service. Their willingness to teach or share information about various wines is amazing and I enjoy learning from them as well.
8 maart 2023
Review zonder uitnodiging
Antwoord van Vinovest
Hi Sydney,
Thank you so much for your feedback. We are absolutely thrilled that you have been enjoying your experience with Vinovest so far!
We love talking about wine and sharing our knowledge with our clients.
Please feel free to reach out at any time to ask any questions you may have about your portfolio or investment, our team is happy to help.
Thank you again for your feedback!
Cheers!
DO NOT RECOMMEND
If you are looking for a company that will not take your problems seriously than vinovest is the place for you. I am a college student that took a break from school to work and get my feet wet with a variety of investments. Safe to say vinovest has been the worst when it comes to customer service but the best at taking and losing your money. I am in need of my money from vinovest and have been waiting too long to just be receiving pointless emails one after another as well as no one to pick up a simple phone call. I invested $1,000 (which instantly started depreciating) with them but can't even receive details about my situation, the best they can do is a pre-sent email. At this point I am unsure when I will be getting my money back but I am for sure never going to be doing business with them EVER AGAIN!!!!
2 maart 2023
Review zonder uitnodiging
Antwoord van Vinovest
Hi,
Thank you for your feedback. I am so sorry to hear your experience with Vinovest did not match your expectations.. This is never the client experience we want our investors to have.
We do apologize if you have had any issues with your liquidation. We recently made updates to the liquidation process to make it easier for customers to know when their wines have matured and it is the best time to sell their wines.
We strive to be transparent with our investors surrounding all aspects of their wine investment, including the timeline for holding your investment and when it is time to sell. Please reach out to our team and they will be happy to give you an update on your account and request.
Thank you again for your feedback.
Shady business
Truly disappointed. I have been using their services since 2020, and have never had an issue because I never had a need to liquidate my investments with them. They are really good and responsive when it comes to taking your money, but I am encountered with nothing but silence and half answers when it comes to get my money back. The valuations placed in my listings for bidding are way lower than the market ones for the bottles listed. Customer service informed me that they only check their emails once a week, and there is no way to get anyone on the phone. Truly horrific and shady business practice. I wouldn’t recommend anyone to put a cent in this company, you will have to go to hoops for months to even get your bottles listed.
23 februari 2023
Review zonder uitnodiging
Antwoord van Vinovest
Hi Jeremy,
Thank you for your feedback. I am so sorry to hear your experience with Vinovest did not match your expectations.. This is never the client experience we want our investors to have.
Our team is available to answer your questions Monday - Friday and emails are checked and answered each day. We apologize if there has been any delay in you receiving a response. We are always working to improve all aspects of the customer experience.
We strive to be transparent with our investors surrounding all aspects of their wine investment. Your feedback is very important to us as we continue to grow. Please reach out to our team and they will be happy to provide an update on your account for you and answer any questions you may have.
Thank you again for your feedback.
Passively investing in wine interests…
Passively investing in wine interests me greatly. I am not very knowledgeable about wine and which wines to buy. Vinovest has allowed me to build a small portfolio of wines. I will say that the fees do add up, especially if your portfolio is below a certain amount. For someone with a longer investing horizon having and buying wines into a portfolio is a good way to protect capital and grow it.
20 februari 2023
Review zonder uitnodiging
Antwoord van Vinovest
Hi Barek,
Thank you so much for your feedback. We are absolutely thrilled that you have been enjoying your experience with Vinovest so far and have been able to build a small portfolio in something you are interested in.
Thank you again for your feedback!
Very hard to liquidate and terrible performance
I was an early adopter (June 2020) and supporter of Vinovest for many reasons:
- It's a great way to diversify investments
- It's (supposedly) not correlated with how the markets are doing in general
- It's (supposedly) fairly liquid
- They were advertising a ~11-12% APY
In October 2022, I've requested a liquidation, which took almost 4 months to complete (vs 3-4 weeks advertised when I signed up).
I had multiple portfolio managers during these 2-3 years that were not so great. It's only recently that they appointed someone more reliable/knowledgeable (Laura).
Now, the most disappointing: the performance. Over 2 years and a half, the overall performance was about 1.5% APY. I actually probably paid more in Vinovest fees than I made money.
So why is the performance so far from 11-12% APY?
The main reason: Vinovest is, indeed, correlated to markets and more specifically to currencies/forex. They did not disclose this to me initially but even though you invest in USD, the wine market is based on GBP. So when GBP/USD is down, your portfolio value will shrink.
The second reason: even though my liquidation took 4 months, my proceeds were lower than the value displayed on my Vinovest Dasboard. The "Fair Market Value" shown on your Dashboard is not necessarily realistic, and they might not find a buyer willing to pay this price.
TL;DR Great concept but poor execution and very low performance.
13 februari 2023
Review zonder uitnodiging
Antwoord van Vinovest
Hi Bruno,
Thank you for your feedback. I am so sorry to hear your experience with Vinovest did not match your expectations.. 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 wine investment, including what can affect the pricing both in the short and long term and how long a liquidation can take. Wine as an asset is quite unique and the liquidation can take time to be completed. Your feedback is very important to us as we continue to grow. Please feel free to reach out to our team at any time and we will answer any questions you may have.
Thank you again for your feedback.
Response time is great when sending an…
Response time is great when sending an email.
I would like to be able to transfer funds netween portfolio and Trading account directly on line rather than using support services
2 februari 2023
Review zonder uitnodiging
Antwoord van Vinovest
Hi Phil,
Thank you so much for your feedback. We are absolutely thrilled that you have been enjoying your experience with Vinovest so far! Transferring funds between managed and trading portfolios is certainly a feature we will look into adding to the website for all of our customers. Our team is always happy to transfer the funds for you in the meantime.
Thank you again for your feedback!
Vinovest is a good location to trade in Wine and Whiskey
Vinovest is a good location to trade in fine wine and whisky. The platform is very good at that and the staff are very friendly and very responsive. They will help you decide on your plan and will then purchase bottles for you. All you need to do is talk to them, fund your account, and then let them do the magic!
31 januari 2023
Review zonder uitnodiging
Antwoord van Vinovest
Hi
Thank you so much for your feedback. We are absolutely thrilled that you have been enjoying your experience with Vinovest so far! We love sharing our magic with our customers!
If there is anything we can do to help to continue to give you the best overall experience please do not hesitate to reach out and let us know.
thanks again. Cheers!
Great customer service when I had issue…
Great customer service when I had issue with my order
26 januari 2023
Review zonder uitnodiging
Antwoord van Vinovest
Hi Jenna,
Thank you so much for your feedback. We are absolutely thrilled that you have been enjoying your experience with Vinovest so far! Love to hear you had such great service!
If there is anything we can do to help to continue to give you the best overall experience please do not hesitate to reach out and let us know. We are always happy to help!
Cheers!
No transparency on when you get your money back
After trying to reach out to customer support 3 times, I have heard no response after requesting a liquidation 2 months ago.
8 januari 2023
Review zonder uitnodiging
Antwoord van Vinovest
Hi Scott,
Thank you for your feedback. I am so sorry to hear your experience with Vinovest did not match your expectations.. This is never the client experience we want our investors to have.
We are sorry to hear you have not received an update on your liquidation status. We will be sure to follow up with you to get provide the update. Your feedback is very important to us as we continue to grow.
Thank you again for your feedback.
Your user friendly app is really…
Your user friendly app is really awesome. Fund transfer is easy and promptly acknowledged too. I wish Vinovest will continue to play an active role in enhancing small time investors like me.I take this opportunity to wish Mr Anthony Zhang and his team a very HAPPY NEW YEAR.
30 december 2022
Review zonder uitnodiging
Antwoord van Vinovest
Hi Seetharaman,,
Thank you so much for your feedback and the well wishes. We are absolutely thrilled that you have been enjoying your experience with Vinovest so far!
If there is anything we can do to help to continue to give you the best overall experience please do not hesitate to reach out and let us know.
Chees,
Make it almost impossible to cash out.
Make it almost impossible to cash out.
Come up with extra fees. Start cash out procedure a month after you say you want to cash out. Do not return emails most times. The worst company. In all honest feels like ftx of the wine world.
I have sent 30 emails to try to cash out
19 december 2022
Review zonder uitnodiging
Antwoord van Vinovest
Hi Clayton,
Thank you for your feedback. I am so sorry to hear your experience with Vinovest did not match your expectations.. 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 wine investment. We would love the opportunity to speak with you more to be sure the cash out of your account is completed as soon as possible.
Thank you again for your feedback as we continue to grow and make improvements.
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