Recently Alys Key, a journalist for City AM published and article about a wine scam in which Millions were spent on wine which didn’t exists. You can read the article here.
Before you consider investing within the Fine Wine Market, it is important you understand the “rules” on how to safely trade this commodity.
Wine Storage: Essential
UK Agora advises clients to always store their wines within their own private accounts. This ensures that the ownership has been fully transferred. Although this may seem obvious, many companies hold the wines “in trust”. Although this doesn’t mean the company in question is fraudulent, by having complete control you enable an extra layer of security. Your investment is not dependent on a company’s success.
UK Agora recommends the use of the London City Bond.
“From London’s oldest bonded warehouse to the UK’s leading tax warehousing company LCB has an impeccable reputation with renowned drinks trade customers. Fine wine merchants and global investors entrust us with their storage in the ideal conditions of Vinothèque and Dinton.”