Horrible fees, horrible liquidity, horrible user interface
Impossible to turn a profit unless you pick that 1 in 1000 wine that goes parabolic due to the ridiculous fees, and don’t think about getting them shipped unless you own a full case so if theres no liquidity for the wine you buy you have no option but to sell super low.
Complete scam, money trap
Do not bother with this app or “asset class”. All of your investment will be trapped indefinitely. You cannot sell your wine, even at a significant discount. You cannot realistically ship wines to yourself - they charge you $800+ for a few cases. Unbelievable scam.
Zero customer support or liquidity.
They make the selling process impossible so you keep paying their stupid fee (on top of the transaction fee they charge you) I have never called support and been connectef with an agent. I have been wanting my money out of this scam for a year and I still haven’t.
On the way out
I think Vinovest days are numbered. The app has not seen any meaningful updates in a long time and is borderline unusable. Everything about Vinovest is about as bad as it gets for investing in wine.
They’re kinda thieves
They do anything they can to keep your money, and when you try to sell and close your account, they’ll price it to where it drags on so they can keep taking your monthly fee. Lost $2k just trying this out to see how it goes. I’d highly recommend avoiding. Even if you did do long term (say 15 years), the money they’d make off your monthly fee basically erases your profit
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