Frequently Asked Questions

How do I know I'm going to get paid for my wine using your brokerage services?

All our brokerage instructions are supported by binding contracts. The contract note, when signed, merely gives us the right to market and close sales of your stock on your behalf. We never take possession or ownership of your stock. We will only ever release the stock against cleared funds from prospective buyers. Funds, less our agreed fees (and any third party costs which you have approved, eg. warehousing movements and warehouse charges and arrears), are passed on the same or the next banking day. Buyers may (but will not invariably) require an inspection of the stock. In the ordinary course, bonded warehouses effectively act as trusted intermediaries: buyers know the stock is being held securely against a reliable stock report, and sellers know stock will not be released out of bond (because of duty implications).

Can we meet as I've had a bad experience in the past?

Absolutely, we encourage prospective clients to come to meet us, we can also complete payments and paperwork on the same day during our meeting together. For investment grade wines and services we will, in any case, be required to undertake regulatory checks on the identity of our clients.

Do you store bonded wine?

We do not store wine, whether you buy from our own stocks or whether we have arranged your purchase through our brokerage services but we can introduce and guide you through the process of storing your wine with London City Bond (LCB). Wines in bond with LCB will be looked after in a temperature and humidity controlled warehouse and allowed to mature. You may of course have existing relationships with other bonded warehouses, with whom we will happily work.

What does bonded wine mean?

Alcoholic beverage sales in the UK are subject to duty, vat and other taxes, which vary depending on the type and strength of beverage, and the prevailing rates applicable. Imported beverages are typically held in HMRC approved warehouses which provide bonds to HMRC as a guarantee of payment of duties, until the goods clear customs (hence "bonded warehouse"). Goods are immediately subject to duties and tax on leaving bonded facilities unless being transferred to another bonded facility or exported, or unless being legally sold "duty free" (all of which are carefully controlled).

When buying fine wines from us for investment from our stock you do not need to pay Duty and VAT on them as long as they are stored in a bonded warehouse. You will, however, become liable for all taxes at the then prevailing rate if you take them out of bond. Notice that you will not pay those taxes if you sell them on in-bond to another buyer but any made profit (or "capital gain" if your investment is treated as capital) may be liable to tax according to your circumstances.

Similarly, goods consigned to us by you under our brokerage services will not attract duty whilst in bond; however, our fee for any services will be subject to VAT at the prevailing rate.

Do you manage portfolios? How do you make money?

Yes we manage portfolios, our brokerage services are our mainstay. We make a front end margin on any brokerage transactions for instructions to sell. For instructions to buy, we will agree a margin with you on your approved offer price. Because of our buying strategies and real-time knowledge of market pricing, we can set our margins at exceptionally keen points.

Spot sales/purchases are negotiated individually. Every bottle that we buy and sell can be price checked against all the major merchants within the UK. As a client you don't need to buy from us, in fact, we are equally happy to buy your investment grade wines at a fair trade price. All prices offered are subject to wine reports and inspections by our bonded facility.

In either case, there is a total transparency of the price you pay, in the market in which the deal is done.

Call us on +44 20 8432 4680 to discuss your investment.