Beware: Looks Good at First, but There's No Way Out
Beware: Looks Good at First, but There's No Way Out At first glance, investing in wine through the Vindome app seems promising. The interface is smooth, and your initial investments appear to grow over time — at least on paper. The app shows increasing values in your investment tab, giving the impression that your wine is gaining value. However, when it comes to actually selling, the problems begin. Even when listing wine at the recommended market price suggested by Vindome, there’s absolutely no interest from buyers. I’ve even lowered my price significantly — well below market value — and still, there’s zero demand. I’ve been trying to sell my wine for over two years, and it just sits there, unsold, despite offering a 40% discount. Meanwhile, you’re expected to pay quarterly fees for storage and insurance, which keeps eating into your investment. The reality is: there’s only one way into this platform — and no realistic way out. Eventually, your money is locked in, and losses keep piling up. In the end, it seems that Vindome is the only one profiting — not the investors. Avoid this app and their services if you value your money.
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Delusione totale
Mercato virtualmente inesistente si può restare vincolati alle stesse bottiglie senza riuscire a rivenderle per anni. Servizio clienti brusco e poco educato.
Terrible scam, stay away
The app and the whole project is a complete scam. Their marketplace is terribly illiquid, which means once you buy wine, you won’t be able to sell it, sometimes not even at discount and at a loss. Your funds will be locked and basically lost.
Furthermore, once ive been able to sell a case (after a six month wait, and at fair price) i haven’t received my funds back. I had to write an email, and only after a few days, I received part of the money. Way less than what I was supposed to receive according to their report (10% less).
I think the idea of creating a marketplace to invest in wine is very interesting, but these people are amateurs and ruthless thieves. Stay away. I’ll keep trying to sell my investments and pull out all the money from this scam as soon as I can
Furthermore, once ive been able to sell a case (after a six month wait, and at fair price) i haven’t received my funds back. I had to write an email, and only after a few days, I received part of the money. Way less than what I was supposed to receive according to their report (10% less).
I think the idea of creating a marketplace to invest in wine is very interesting, but these people are amateurs and ruthless thieves. Stay away. I’ll keep trying to sell my investments and pull out all the money from this scam as soon as I can
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No market to sell
Please be careful there is no active market where you can sell your wine investments.
Be warned
Think very carefully before using this app. Look, it has a nice website and app and it is intuitive to use.
They show very appealing looking returns on wine investments, and you see your investments go up and up on beautiful looking graphs. Having made more than 40% I decide to cash some out, here is where the trouble begins. You can’t just sell your investments unless another customer has put in a request to buy that particular wine (which they rarely do), so you are left with the only option being to ‘offer’ your wines. So to sell them you put them up on the website but nobody will buy them for the current given value, so you lower the price. Not a problem until you realise that no one will buy them until you decrease your offer value to less than you paid for them, even then they are painfully hard to sell. Even though the posted value of my investment was in the excess of 6000 Euros (from an investment of 4000) I couldn’t even sell them for 3000. Oh and here is the best bit, for whatever highly reduced price you can sell your wines for, you then pay commission, and while your wines sit there unsold, wines that you have never seen of course, they will also charge you storage fees. The bottom line, I invested aprox 4000, ‘made’ 6000, and I am in the process of selling for probably less than half my original investment. Almost zero customer service as well, my emails going unanswered. I am tempted to say that it is a scam, which of course it is, but this is one of those outfits that stay just the right side of the law and sit back and rub their hands with your money. You have been warned!
They show very appealing looking returns on wine investments, and you see your investments go up and up on beautiful looking graphs. Having made more than 40% I decide to cash some out, here is where the trouble begins. You can’t just sell your investments unless another customer has put in a request to buy that particular wine (which they rarely do), so you are left with the only option being to ‘offer’ your wines. So to sell them you put them up on the website but nobody will buy them for the current given value, so you lower the price. Not a problem until you realise that no one will buy them until you decrease your offer value to less than you paid for them, even then they are painfully hard to sell. Even though the posted value of my investment was in the excess of 6000 Euros (from an investment of 4000) I couldn’t even sell them for 3000. Oh and here is the best bit, for whatever highly reduced price you can sell your wines for, you then pay commission, and while your wines sit there unsold, wines that you have never seen of course, they will also charge you storage fees. The bottom line, I invested aprox 4000, ‘made’ 6000, and I am in the process of selling for probably less than half my original investment. Almost zero customer service as well, my emails going unanswered. I am tempted to say that it is a scam, which of course it is, but this is one of those outfits that stay just the right side of the law and sit back and rub their hands with your money. You have been warned!
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