However, the Encarta Fine Wines' website explains that its origins were earlier than this:
However, the company would appear to trade from the Bromley as this just ad indicates:
'Encarta fine wines (London/South East) Full Time Tuesday, January 5th, 2010
We currently have full time investment broking vacancies in our team on the trade floor, this is available for driven, money motivated individuals with a passion for sales. Those with experience in stock broking, wine broking or land broking are ideal – although if you have a strong sales background and are sharp on the phone, we want to hear from you! with a basic salary and a strong ongoing commission structure, this is the perfect role for those looking to develop their sales career in an exciting, fast paced broking environment
This is not a job for those afraid of hard work, the job involves speaking to investors across the UK and IRELAND, no matter how wealthy! The hours are long, the job is tough & demanding, BUT the rewards can be tremendous!
Telecommuting is ok.
135 high st
Bromley - BR1 1JF
'Encarta Fine Wines Ltd was registered with companies house in 2009, however has been sole trading since 2006 on very a small scale basis, but must also highlight a mistake* you have which is I am not the sole director, our prices are generally around 25% above the prices shown from some of the larger Merchants for example Farr Vintners, but within this increased price we include storage for up to 5 years**, and of course advice on purchasing.
We can resell to existing clients & potential new clients, portfolios of existing clients thus offering only a 5% selling commission. So I agree we may be more initially to purchase, but also offer investment advice for this service, but are less expensive to sell the portfolio.
* Correct Dean Doughty is also a director
** Five years storage at LCB's Private Reserves is £71.91 inc vat.
From the Encarta website:
'At Encarta we take great pride in helping our clients build the perfect investment portfolio of fine wine.'
Encarta's price for six bottles of 2009 Carruades is £2200 (equivalent to £4400 for a case of 12).A quick look at wine-searcher.com shows that a number of companies are offering a full case (12 bottles) of Carruades at prices ranging from £2400 (Albany Vintners) to £2800 (Farr Vintners are at £2700). In this instance Encarta are a whopping 83% more expensive than the cheapest established fine wine merchant. Encarta: 'the wines that represent good value'!!
I emailed Matthew Hart asking about both the pricing and the choice of Carruades de Lafite as a starter wine for a portfolio.
Matthew Hart's response (15.7.10):
What about the 2007 Lafite Rothschild that we are selling at present for £6000 are you willing to say that this is not competitive??
It seems to me that you have nothing better to do that contact us and keep checking up on our pricing structure!
I suggest you try and track down the scam companies out there that are not actually purchasing wines!!
I am sure one call to LCB and they will confirm that we have a constant stream of wine going into accounts held there.
I will not reply to any further emails that you send to us.'
Your price for 2007 Lafite is certainly more competitive than that quoted for 2009 Carruades. However, it is more expensive than any other companies currently quoted on wine-searcher.
It is also more competitive than than the example of growth sent out by Paul Stapleton on Tuesday, June 22, 2010 featuring 2007 Leoville Las Cases, 2005 Lynch-Bages and 2006 Pichon Lalande. All, particularly the Léoville las Cases and 2005 Lynch Bages well over market price.***
Although I could phone LCB and they might confirm that Encarta have an account with them, they are not going to tell me what is in the account nor what comes in and out, nor whether cases enter at a trickle or a flood. Incidentally when did Encarta open the account at LCB?
Naturally it is entirely up to you whether you respond to my questions. It remains proper that I give you the opportunity to respond.
*** I will be commenting on the example of growth sent out by Paul Stapleton in a separate post. See part 2 here.
Although they may have done a small amount before the company was founded in in July 2009, Encarta Fine Wines Ltd has no track record, particularly in relation to buying en primeur. I wouldn't advise buying en primeur from Encarta until they have established a track and trading record. Nor would I advise buying bottled wine from them until they become more competitive and cease trying to sell investments through cold calls.