Vinovest is absolutely terrible
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.
Reply from Vinovest
Hello,
Thank you for your feedback. We're sorry to hear about your frustration and want to take this opportunity to clarify a few important details regarding your account.
All of your wines have now been successfully sold, and 100% of the proceeds were returned to you as of the end of June. While we understand the experience may not have met your expectations, we want to confirm that no funds have been withheld and your account has been fully settled.
We also want to clarify that Vinovest does not charge advisory or performance fees. The fees deducted from your sale proceeds were related to storage and insurance, which are clearly disclosed and continue to apply while your wines are stored—whether they are held, listed, or awaiting sale. These fees ensure that your wines are professionally preserved until the moment of transfer or delivery.
We understand that the fine wine market operates differently from more liquid asset classes. Sales can take time, and values can fluctuate depending on market demand and maturity. That said, we’re always available to provide guidance and transparency throughout the liquidation process.
Thank you again for your feedback.