Although documents filed with UK Companies House shows that Intercontinental Wines Ltd has little or no track record, the company's website (copyright 2015) claims 'A Track Record to Rely On' with 'over 15 years experience around the world of fine wine'
'Welcome to the fine wine market
We are passionate and committed with over 15 years experience around the world of fine wine.'
From the Intercontinental Wines Ltd's website
I asked through Twitter about their 'over 15 years experience':
Intercontinental Wines Ltd has failed to realise that the boom in fine wine, especially Bordeaux, which was in part fuelled by demand from China came to a halt and that the last three years has been a bear market. For example wine-searcher shows that a case (12 bottles) of 2008 Lafite-Rothschild would have cost from £12,850 on 15th June 2008 and now can be bought for £5325 a case. Not a great investment!
You have to wonder how fitted Intercontinental Wines Ltd to give advice to visitors to the Southampton Boat Show, who see that Intercontinental are Platinum Partners to the show and seek wine investment advice from them.
Update: 25th August 2015
Following yesterday's post Intercontinental Wines Ltd's website has been amended removing the reference to 1855, which wrongly claimed that production limits were set then.
Intercontinental Wines Ltd continue to claim that profits on wine are free of capital gains tax. This is incorrect – HMRC state that certain long lived wines are subject to CGT.