VinovestReviews of vinovest.co

Scam at best. I haven’t been able to recoup any of the investment for years. I don’t know how they are allowed to operate. Just thankful I didn’t invest more!

The platform operated satisfactorily; however, customer support was often slow to respond. Taken as a whole, my experience with Ten of Ten was satisfactory, although the assistance provided did not fully meet my expectations.

This company and it's services are borderline scams. They make it almost impossible to get your wine or your money once you have invested. - Charge you a ridiculous amount of money if you want to liquidate your investments to send you your wine/whiskey. The amount they charge you to ship your bottles can end up being the cost of your entire investment. - Trying to sell your stock in the marketplace is a joke. Pretty much have to list your price at a huge loss and on top of that, they charge you money for early liquidation PLUS a selling fee. - They send you through hoops upon hoops to try to withdraw any cash you have in your account. 5 different MFAs, ID scan, more MFAs. Then the kicker - takes 2-3 weeks to send your money. WHAT? I still have lots of bottles still sitting out in the marketplace unsold. For all I know, the company probably never bought that inventory so now they have to go find it and sell it. Very fishy and super scammy. There should be some sort of regulatory oversight on this. Right now they can do whatever the heck they want and if they fold on Ch. 11, there goes all your bottles of wine and whiskey. That is, if they ever bought it for you. I mean, if I truly do own those bottles, I should not be charged hundreds of dollars to ship just 6 bottles at a time. Heck, if you have it in a warehouse somewhere, happy to come pick it up. Sure, charge me $50 for any administrative fee but this is just highway robbery. Here's a breakdown of costs for 6 bottles of wine that is now valued at $550 (purchased at $750): Base shipping rate (8.3 kg): $89 Service fee $25 Consolidation fee $83 Total: $197 - 35% of the value There's also a customs fee but okay, granted, that is out of their control. Would not surprise me that these guys turned out to be some sort of Ponzi scheme.

I wish I could give negative stars. I've had my entire portfolio listed for sale for over a year - no activity and no assistance from Support to even attempt to help me liquidate. My last resort was to get the wine shipped to me but don't even try that as it costs over $200 per case to ship it. I had high hopes for this alternative asset class only to be wildly disappointed with how poorly this platform is run.

Feels like a scam. Impossible to sell your wines or liquidate your portfolio when you need to, value of wines are misrepresented, absurd fees are being charged when you want to ship your wines. Withdrawal also takes ridiculously long in this era where money transfer can be instant. Heed the lessons of many others who have left negative reviews - they are there for a reason.

I'm still waiting for my money. I cashed out 33 days ago. The money left my account, but it still hasn't made it to my bank account which I have linked to their system. Edit: After 35 days, I finally received my funds.

Investor since 02/2021 — down ~28%, and proceeds from recent sales have been withheld for 6 weeks and counting. Beyond poor performance, I’ve experienced serious operational problems: 1. Double-billing: Vinovest offered a prepaid annual fee plan (storage, insurance, etc.) at a 15% discount. I paid it in full — yet they continued withdrawing monthly fees from my bank account anyway. 2. Withheld funds: I requested full liquidation of my account over 3 months ago. Vinovest has sold only a portion of my bottles (all at a loss). Worse, the sale proceeds were withdrawn from my Vinovest account 6 weeks ago — but have never been deposited into my bank account. Their own confirmation email promised deposit within 1–2 weeks; when I followed up, support claimed the timeline was actually 2–3 weeks, which matches their published withdrawal policy. Either way, that deadline passed weeks ago. The money has left my Vinovest balance and simply not arrived. 3. Unreachable support: Emails to Vinovest support and my assigned portfolio manager go unanswered. The phone number listed on my portfolio manager’s own emails has been changed. 4. Questionable valuations: The wine valuations and purchase prices are opaque and, in my experience, misleading. Whether this reflects bad faith or a company in financial distress, I can’t say. What I can say is this: your investment will be illiquid, the advertised returns did not remotely match my experience, and when I liquidated, Vinovest took the proceeds out of my account and did not pay me — in violation of their own written withdrawal policy. I would not recommend investing with this company, and if you already have, I would begin the exit process now.

I finally sold one of my wines after many months of being for sale, now I want to withdraw my funds and it just keeps the error message: "International withdrawals to your country aren't supported yet..." I am really losing faith for this company, just want to withdraw that one and keep selling the other ones.