Vinovest Reviews 254

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 thought it would be a sensible place to put a bit of my savings, but it's turned into a real headache I can't seem to escape.. They were all helpfuI when I was putting money in, but now that I want to take it out, nothing happens. They keep charging fees while wait, endlessly. stopped playing guessing games with my money and moved to century100. They have been steady, fair, and always on time with my withdrawals. That's real trust right there.

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!

Buyer beware. I'm an experienced investor across different asset classes and let me just say that Vinovest is one you want to avoid. I'm 4 years into the 10 year time horizon I opted in for, and I'm currently down 9% unrealized gains. Oh yea, if you've read some of the other reviews on here you've probably heard something about fees. They are very real on this platform and borderline criminal. As I am attempting to sell my entire portfolio now, I'm down another 10% in paid monthly fews. So let's summarize: 19% loss in 4 years. I told the rep I spoke to about closing my account down that I would have to have my current wine collection appreciate 25-30% over the remaining 6 years just to breakeven (off-setting future fees) and they had nothing to say. They are probably numb to "investors" on their platform waking-up and finding better, more transparent options to park their money. I just started the process of listing my wines for sale today. Based off the other poor reviews, I'm not holding my breath on a successful outcome.

Should be illegal.

Storage fees, monthly late fees, months to sell your wine manually through their trading platform.

Logged in to invest more money and my wine and my money had been zero out. Would like to know who stole it as I received no wine and no money somebody has both. Would not recommend to anyone until they find my wine or my money. Never happened to in 50 years

This is not an investment, it's a trap for your money wrapped in a good looking interface. I just happen to need to liquidate what I have in vinovest and can't wait until maturity for another 5-10 years.

I've listed the wines in my portfolio well below their estimated value and added flexible pricing. But more than 1 month later, nothing. I doubt they have a marketplace. But of course they keep charging me holding fees and asking me to add funds to my account.

Ridiculous. And to think I almost referred some friends. I'm very happy my friends were not interested when I told them I had found vinovest.

EDIT: As they mentioned in their reply, indeed my wines have been finally sold, albeit maybe because I significantly reduced their price to make sure they are sold.

Vinovest is terrible. They made it sound like an investment platform, and that I could buy and sell wine freely. Lies. When I wanted to liquidate my wines they told me to fill out more paperwork, and held my money for over a year and I still do not the proceeds from having my wine sold.

The best part is, because they are ridiculous and terrible at their jobs, they took fees from my sale price to cover their “storage fee’s” and took hundreds of dollars off the price of my wine over the last 12+ months.

I emailed their customer service the other day and they said oh yeah it “sold yesterday”. I had not emailed them in 7 months, but coincidentally it sold the day before I emailed them. Give me a break!

I literally LOST 25% of the value of my portfolio investing with Vinovest - do NOT invest with them, they will keep your money and make interest, and return to you whenever they feel like it. Total scam.