Château Lafite
Vintage Wine Investors are generously offering to make investors a 50% profit in just three months on a purchase of a case of six bottles of 2010 Lafite. Buy a case now for £3000 and Vintage Wine Investors will give you 'a legally binding Wine Sale and Buy Back agreement that confirms that £4500 will be transferred to your account on 21st December 2012 for each case of 6 bottles that you purchase'. A maximium of 10 cases per client.
In response to the reasonable question 'How can we make such an offer' Vintage Wine Investors claim that 'This is from a very large buy from a liquidation sale. We are putting in half the money ourselves and allowing new clients to test the market and see the short term returns that are currently available.'
Sounds too good to be true? Before reaching for your cheque book consider the following:
a) The 2010 Lafite has yet to be bottled and shipped.
b) The lowest price for a case of six bottles of Lafite 2010 as shown on wine-searcher is £4150 from En Primeur Ltd. En Primeur Ltd were offering this for £4400 on 15th June 2012. This would suggest that the market is less buoyant than Vintage Wine Investors believe.
c) There is no indication on their website of the provenance of this company – no names of directors etc.. The company appears not to be a registered UK company – no records at Companies House.
d) Their address at 17 Ensign House, Admirals Way Canary Wharf London E14 9XQ appears to be a virtual office run by Flexy Office (UK) Ltd. Vintage Wine Investors could actually be based anywhere – Bromley or the Costa del Sol, for instance.
e) They also give 111 Buckingham Palace Road, London SW1W 0SR – another serviced office – as a further address.
e) They also give 111 Buckingham Palace Road, London SW1W 0SR – another serviced office – as a further address.
f) If Vintage Wine Investors 'legally binding Wine Sale and Buy Back agreement' proves to be worthless, it will be very difficult to trace VWI.
g) Their website is registered anonymously in Ontario, Canada.
I'll definitely pass on this offer and other offers that Vintage Wine Investors have recently made. Instead I'll consider maximising my savings in flying pigs – certainly a wasting asset!
22.9.12: I'll also pass on the similar offer made on 2010 Château Margaux – again a 50% profit between now and 23rd January.
22.9.12: I'll also pass on the similar offer made on 2010 Château Margaux – again a 50% profit between now and 23rd January.
