How can you tell whether or not to trust a wine investment company...?
Wine investment uncertainty – Ask Decanter
Sarah, by email, asks: I have been contacted by a wine investment company and have been trying to find out more about them, but can see very little online other than review sites, which I am aware can be manipulated.
Their address also appears to be the same as that of another company with a previous bad history. Is there such a thing as a list of reputable wine investment companies?
Jim Budd replies: There is no official list. However, my Investdrinks site does list investment companies that I would not use.
The internet offers considerable research options. UK Companies House offers a free Beta service giving access to accounts, directors’ details, and so on. Look for any compulsory strike-off notices, usually due to failure to file accounts or confirmation statements on time.
Also look at the company’s own website – are there any details of the directors or sales force? Or is the site just full of waffle? Is the company’s address real or just an accommodation address?
Your question contains a big clue about the company, as it sounds as though you have been cold-called. No legitimate investment firm cold-calls. Who called me? is a useful site, which lists details of cold-calling companies.
Jim Budd is the DWWA regional chair for the Loire, a wine writer and publishes Investdrinks. This question first appeared in the February 2019 issue of Decanter magazine.