Jim Budd on the sharks in wine investing
This show was published 19 October 2012
Blogger Jim Budd holds a firm view that there is a pandemic of fraudulent wine investment companies and scams at the present time and warns us to stay clear of a substantial number of companies (around 60-70) that are trading currently. On his investdrinks blog Jim has links to companies he would recommend and he advises us of how to avoid the scam companies. One of his main points is to steer clear of any wine investment company that cold calls you and he points out that while cold calling is not allowed for generating business for mortgage lending for example, there is no regulation for the selling of wine investments. If you are cold called and want to look into company further then make sure you look at the company details held by Companies House to find out when they began trading and who the directors are. Also compare their website with well-respected players in wine investing such as Berry Bros & Rudd or Corney & Barrow. Jim recommends winesearcher.com as a good site for comparing prices for older and rarer vintages. Be careful when it comes to buying wine En Primeur as its even more difficult to trace transactions and a scam company has two years between the transaction and physically supplying the wine once it has been bottled. For more tips Jim's blog can be found at http://investdrinks-blog.blogspot.co.uk
A guide to wine investing by the WSTA is also available at http://www.investinginfinewines.co.uk
The UK Wine Show is sponsored by ThirtyFifty. Our team of wine tasters are busy entertaining and educating UK consumers to help them get the most out of wine.
The music used for the UK Wine Show is Griffes de Jingle 1 by Marcel de la Jartèle and Silence by Etoile Noire.