Tuesday, 19 August 2014
Twelve-By-Seventy-Five Ltd: not for me thanks!
This is yet another recently formed wine investment company: Twelve-By-Seventy-Five Ltd was set up on 24th January 2014. Its two present directors – 27-year-old Sultan Mahmood Rashid and 29-year-old Riccardo Tullio De'nardis – were appointed on 8th April 2014.
'We are experienced wine merchants & brokers'
'We have firmly established contacts with French négociants'
For a company formed in January 2014 they have gained experience and contacts with remarkable speed...
'Fine wine is an excellent alternative investments.
'The fine wine is booming picking the right wines
gives significant opportunities for incredible tax-free returns.'
Fine wine, especially Bordeaux, is not booming as prices have been dropping since 2011.
Incorrect claims of fine wine investment is free from capital gains tax.
No mention of inheritance tax
'Its official Classification (Appellation d'Controlee)
dates back to 1855 at Napoleon 3rd's request.'
Twelve-By-Seventy-Five Ltd confuse Appellation Contrôlée (started in 1936) with the 1855 classification.
'We store our wine in London City Bond's (LCB)
bonded warehouse: Vinothèque in Barking'
Rather alarming – LCB's Vinothèque is in Burton-on-Trent around 150 miles north-west of Barking!
How much are the storage charges? Our strong relationship
with London City Bond (LCB) gives us
highly competitive storage rates with two options:
'highly competitive rates'!
Sultan Mahmood Rashid and Riccardo Tullio De'nardis claim a 'strong relationship with London City Bond' but Twelve-By-Seventy-Five Ltd has no company account at LCB. The 'highly competitive storage rates' claimed by Twelve-By-Seventy-Five are LCB's standard rates from private customers:
LCB's standard charges for private account holders
The last thing the fine wine trade needs is another 'wine investment' company making false claims. I'll certainly avoid Sultan Mahmood Rashid and Riccardo Tullio De'nardis new Twelve-By-Seventy-Five Ltd, which I hope will be both short-lived and unsuccessful.
There is now an fairly extensive thread of comments below on this post, which you are recommended to read.