Friday, 25 February 2011
Voluntary code for wine investment
Readers of Jancis Robinson's site will have seen yesterday a request in her 'Free for all' section for a graphic designer to design a logo for a voluntary code for wine investment. Jancis' request produced a number of promising responses.
A voluntary code for wine investment is currently being developed with a number of companies who either offer wine investment or who sells 'investment grade' wine. This code is intended reflect existing good practice. It is hoped that agreement can be reached in time for the code to be launched before the 2010 en primeur campaign starts.
Although it is too early to publish the draft code or to list those companies that have indicated support in principle, any company who would like to see the draft can email me. A number of journalists/writers are supporters of the code in principle pending the agreed text.
Thanks for your two comments below about CB Vintners. Following your mention of lovemoney.com here is a piece by Tony Levene on a phone call from a wine scammer. The page also has a video with Tony explaining why he has a blog about scams and why he is called 'The Scam Magnet'.
NB (28th February 2011)
Guaranteed returnsCompanies selling investments that are regulated by the FSA are not allowed to make claims of guaranteed returns. If wine investment was regulated the sort of claims claims made by CB Vintners below would not be allowed.