The London Wine Shop
DJ's enquiry:
'I have been contacted by The London Wine Shop offering to sell me a case of Chateau Latour 2004 for £4,800. Do you know anything about this company and in your considered opinion is it a sound investment? They cold called me.'
My response:
DJ's enquiry:
'I have been contacted by The London Wine Shop offering to sell me a case of Chateau Latour 2004 for £4,800. Do you know anything about this company and in your considered opinion is it a sound investment? They cold called me.'
My response:
No buying at this price is not a sound investment as wine-searcher shows that you can buy the same wine for £3445 from Bordeaux Wine Investments and for £3500 from Wilkinson Vintners.
I wouldn't buy wine from The London Wine Shop.
I wouldn't buy wine from Encarta Fine Wines Ltd either because of their lack of a track record and the price for the Latour is hardly competitive.
I wouldn't buy wine from The London Wine Shop.
DJ has also been contacted by Encarta Fine Wines Ltd, which was founded on 9th July 2009. Its registered office is in Heddon Street, Mayfair, London. Encarta trades from Bromley. They quoted £4,950 including transportation, 5 years storage and insurance for the 2004 Latour.
I wouldn't buy wine from Encarta Fine Wines Ltd either because of their lack of a track record and the price for the Latour is hardly competitive.
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Bordeaux Fine Wines Ltd
TM's enquiry:
'I have been rung by Bordeaux Fine Wines Ltd" asking if I wish to invest. It sounds an attractive proposition, with their 10% commission on any profits sounding good. is this company bona fide do you know? They are asking me to buy Chateau Pavie 2008 at £1,750 a case en primeur. I have queried the price with them [by phone to the salesman] who tells me when I come to sell, the price will be based on the average increase in price for the wine sold in the market over the time I have held the wine. The Bordeaux Fine Wines Ltd do look after you by ringing every month to let you know how the wine is doing, and the recommend good buys etc, at least that's what they say [no doubt also opportunities for a hard sell too!]. '
TM's enquiry:
'I have been rung by Bordeaux Fine Wines Ltd" asking if I wish to invest. It sounds an attractive proposition, with their 10% commission on any profits sounding good. is this company bona fide do you know? They are asking me to buy Chateau Pavie 2008 at £1,750 a case en primeur. I have queried the price with them [by phone to the salesman] who tells me when I come to sell, the price will be based on the average increase in price for the wine sold in the market over the time I have held the wine. The Bordeaux Fine Wines Ltd do look after you by ringing every month to let you know how the wine is doing, and the recommend good buys etc, at least that's what they say [no doubt also opportunities for a hard sell too!]. '
My response:
If you look at www.wine-searcher.com you will see that you can buy 2008 Pavie for £1165 a case from Justerini & Brooks, part of Diageo, the world's largest wine and spirit company.
I can see no reason for paying well over the odds from Bordeaux Fine Wines that was only founded on 18th September 2009, especially as you are buying this en primeur and BFW has no track record in supplying wines en primeur.
You will find a list of merchants I would consider buying investment wines from on my investdrinks blog. Bordeaux Fine Wines isn't one of these.
