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WSTA launches new wine investment guide


The WSTA has launched a guide to help the growing number of consumers who are investing in fine wine, either as collectors or as part of an investment portfolio. The guide aims to help wine buyers make the right checks before they part with their money.

Recent years have seen a growth in fine wine purchase but the potentially attractive returns have also sadly attracted some fraudsters, particularly in relation to en primeur - wines available for purchase prior to bottling and release onto the market.

The WSTA guide, available online at http://www.investinginfinewines.co.uk/, provides tips to help consumers ensure they don't become victims of fraud.  They include:

  • " Choose a reputable wine merchant, checking their trading history, track record and address
  • " Verify your order by comparing prices, checking provenance, condition of storage, packaging and delivery. Remember, reliable en primeur traders don't sell before producers have announced their prices
  • " Look after your investment, ensuring wine is securely stored in the right conditions and fully covered by insurance
  • " Understand the small print, including tax on investment, commission and handling fees and the paperwork you'll receive covering your purchase

The WSTA cautions consumers to be wary of any businesses using hard-sell tactics such as offering guaranteed profits or fast returns. Fine wine should be seen as a medium to long term investment and as with all investments the value can go down as well as up.

Anyone who thinks they may have been a victim of fraud when buying fine wine should contact the WSTA Fraud Prevention Unit [email protected] or report it to Action Fraud http://www.actionfraud.org.uk/report_fraud.

WSTA Chief Executive Jeremy Beadles said:

"Buying fine wine is a pleasure and can be a profitable one but as with any type of investment it makes sense to take some precautions before you part with your cash.

"Our website guide provides some simple tips to follow to ensure you don't get caught out. Making some basic checks about the company you're dealing with and its track record is a good place to start."


Ends


Notes to editors

WSTA
The WSTA is the UK organisation for the wine and spirit industry representing over 340 companies producing, importing, transporting and selling wines and spirits.
We campaign to promote the industry's interests with governments at home and abroad.
We work with our members to promote the responsible production, marketing and sale of alcohol.

For more information please contact Gavin Partington:
Tel:  +44 (0) 20 7089 3876
Mob:  +44 (0) 7966 014058
Email: [email protected]

 


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