Vinovest: Bottle your wealth

I was really excited about the prospect of being able to invest in wine with vinovest, but my experience has been a total nightmare. They make it extremely easy for you to deposit money and buy wine. They wines they picked for me have not only been losing money, but I also am having trouble selling them. I started the selling process 3 months ago, and 1 case has sold. Customer service has been terrible. They charge exorbitant fees, and when you try to sell your wine the bid ask spread is enormous. Wouldn’t tell my worst enemy to invest with vinovest. Seems like a Ponzi scheme to be honest.

Do not invest in wine with Vinovest unless you want to lose your money. I have had my wine for over 3 years and my dashboard shows a 20% return so far. As soon as I listed my wine for sale the return dropped to -30%…. Do not invest with this company/app unless you are looking to donate a monthly storage fee to them. They charge you a storage fee based on the “value” of your wine and then tank the value as soon as you go to sell. This means you are paying inflated fees for your wine while it is realistically worth way less!!! Such a scummy company… I can’t wait to sell my wine and take the loss and be done with them!!!! Do not make the same mistake I made!!!

Stay away from this terrible product and platform. You will never come across a worse investment platform.

As mentioned by other users, it’s difficult to get your investment back. The bid ask spreads are huge so no one is paying their theoretical market prices. Their buying power isn’t that strong resulting in mediocre purchasing price per bottle. If you want your wine they charge insane shipping fees since the storage is in the UK, for me the US it was $400+ to ship 6 bottles. No point in buying my own inventory at that point. The customer service is terrible, good luck trying to speak with a representative.

Awful experience. From the get go, app does not work well, logs you out every time. Fees are so high that any gains you see are used to cover them. I finally listed my wine for sale. Wine was put in pending sale status in February. Two and a half months later no update, no money. Customer service can’t give any timeline, just a copy and paste response. Customer service has no telephone number. TAKE YOUR INVESTMENTS ELSEWHERE.

I understand wine is long term and values fluctuate. However closing the account seems impossible. They charge fees originally from a cash balance and then charge an overdraft fee without warning that you need to add to the cash before charging it. No way to pause while you sell. Predatory way of charging and do not have customer in mind. Good way to lose a few thousand.

I started investing in high-end wines using VinoVest and so far my return is a lot better than my 401K. I like that I don’t have to store the wine myself and risk bottle shock (or bottle consumption).

I ask to close account nothing in they took 160 dollars I’m glad it was just a small amount and you cannot get ahold of anyone

Hello. I just downloaded the Vinovest app (version 1.37.0) on an iPhone running iOS 17.4. The app is crashing 100% of the time after I select the “Transactions” option under wine. I posted this using my @RandomiOSBugs Twitter account. Please investigate if you can, makes it very hard for new users to browse the app.

Save yourself a headache and don’t use them. You will absolutely loose your money. Wines are inherently a long-term bet, and I’m not sure Vinovest will be around for that long (judging by the public reviews here and elsewhere, things aren’t going great for them). Even if you do manage to invest in a winner, their marketplace has poor liquidity. Nothing ever sells at the “market” price. You have to accept a lowball offer if you want to sell anything at all.