Having Someone to Manage your Wine Portfolio Storage
Bordeaux Market Prices
There were a lot of fine wine companies especially in the UK that went bankrupt last year with the Bordeaux market prices dropping the way they did.
Where to Store Your Wines?
Are you one of the many wine investors out there who are a bit lost and not sure where to put their wines? Or is there even a company willing to take on your wines and store them? Perhaps you have been passed over to a company who bought out the client base of another bankrupt company and their service is not to your expectations?
One of the reasons companies are skeptical to take on a new customer who already has wine in a portfolio is because the revenue from this customer is not likely to be very high. Customers who come from a previously bankrupt company may be concerned about who to trust and the likelihood of a wine investor who has had this experience to want to start ploughing money back into the wine market is very unlikely. Another reason is because fees related to wine storage are (Or should) be very low so the company taking on a possible headache doesn’t stand to make much money anyway.
Moving Your Portfolio
We are one of the companies who are willing to look after an existing wine investors portfolio regardless of where they have been storing their wines. Why? Because we do a full check of the inventory of the wine when we take it on board. There is a small charge for this and It is not a profitable exercise for us but when we have gotten a proper condition of the wine they want us to store then we know what we are selling back to the market later if they want us to sell it for them. We charge 0.5% per annum on managing the storage of a fine wine portfolio and it is not a huge sum of money but it pays the bills.
We keep a small team of staff dedicated to managing the portfolios of all our existing clients and we manage 20 million pounds worth of fine wine currently without any problems. We pass on discounts from the warehouses to existing clients so that they make savings over and above those if they were storing on their own in private warehouse accounts. All this peace of mind for our customer/investors with the hope that they will of course want to rebuild at some point in the future a wine portfolio again.
We don’t hammer you to death with wine offers, in fact we have only 1-2 wine recommendations per month so don’t be surprised if you don’t hear from us for a few weeks. We are probably too busy looking after your wine!