EF Wines - anyone had any dealings?
Discussion
coetzeeh said:
I have had a few calls from EF Wines wanting mne to invest in their product.
I'm not the type to invest in anything that I know nothing about (except the drinking part) but I am intrigued.
Anyone here had any dealings or experience of EF Wines or the sector
They called me and bugged me for ages!I'm not the type to invest in anything that I know nothing about (except the drinking part) but I am intrigued.
Anyone here had any dealings or experience of EF Wines or the sector
I think you will find it's the classic boiler room sales tactics.
So I would say avoid at all costs!
Never heard of EF, but have a read of this site: http://www.investdrinks.org/
Wine investment is unregulated and, unless you know what you're doing, more than a little risky.
Bear in mind that the 2013 vintage in Bordeaux has been a market flop. If anyone is drawing comparisons between this and, say 2000 or 2005 in terms of potential for price increase, then run away.
ETA: in fact, my advice would be to run away anyway!
Wine investment is unregulated and, unless you know what you're doing, more than a little risky.
Bear in mind that the 2013 vintage in Bordeaux has been a market flop. If anyone is drawing comparisons between this and, say 2000 or 2005 in terms of potential for price increase, then run away.
ETA: in fact, my advice would be to run away anyway!
Edited by LooneyTunes on Wednesday 30th April 06:53
TIGA84 said:
Google Dan Snelling.
Should tell you all you need to know.
I used to work with him.
Are you Simon Dempsey?!Should tell you all you need to know.
I used to work with him.
I know nothing about EF wines - they may be legit. You could always ask wine investment cold callers whether the wines were stored in the boiler room as you've been told that that's where the fattest profits come from.
When I was on the Rio Tinto share register I'd be called up by people telling me that they were calling "on behalf of Rio Tinto" and offering me the opportunity to invest in another, far smaller mining company I'd not heard of because they had some special ahead-of-market info on a find made by that venture which was about to hit the big time. I'd listen politely for a little while, explain how little I knew about shares and suchlike, but that I was keen to get in on the action and ask them, (since they were clearly experts in investments and shares) what a "boiler room" was.. but they always put the phone down and never explained it to me. Sad, I know, but the time they spent on me was time they couldn't spend trying to scam some 75 year old worried about funding a care home place.
I worked very briefly at a Fine Wine "investment" house, and even though I really needed an income I quickly left as the term unethical doesn't even come close. Data sharing between companies, bullying (both clients and staff), shell addresses, all the way through to deliberate malpractice- you name it, it was going on. Steer well clear, I can't emphasise that enough. I have many stories from that brief time.
If anyone is already involved in fine wine, or just wants a point of reference- at least the thread title mentioned and another company, who sounds a lot like non-starter- they all use http://www.frw.co.uk as a pricier, when buying they subtract 15-30% and selling well add a lot and then probably double it.
That site is totally legitimate to my knowledge, and is trade prices along with historical data.
If anyone is already involved in fine wine, or just wants a point of reference- at least the thread title mentioned and another company, who sounds a lot like non-starter- they all use http://www.frw.co.uk as a pricier, when buying they subtract 15-30% and selling well add a lot and then probably double it.
That site is totally legitimate to my knowledge, and is trade prices along with historical data.
No offence to anyone involved in the fine wine market but it is incredibly unscrupulous.....people claiming they have bargain prices/reductions/offers when they clearly aren't and also only using third party reviews when it suits them and writing their own less than impartial reviews to sell wine they have in stock.
If in my old job as an investment banker I had behaved as badly as some wine merchants I'd have been struck off years ago. As an example you are specifically forbidden as an investment bank from publishing research that supports any positions you have...something that wine brokers do all the time!
If in my old job as an investment banker I had behaved as badly as some wine merchants I'd have been struck off years ago. As an example you are specifically forbidden as an investment bank from publishing research that supports any positions you have...something that wine brokers do all the time!
Cheib said:
No offence to anyone involved in the fine wine market but it is incredibly unscrupulous.....people claiming they have bargain prices/reductions/offers when they clearly aren't and also only using third party reviews when it suits them and writing their own less than impartial reviews to sell wine they have in stock.
If in my old job as an investment banker I had behaved as badly as some wine merchants I'd have been struck off years ago. As an example you are specifically forbidden as an investment bank from publishing research that supports any positions you have...something that wine brokers do all the time!
Having been both sides of the fence I completely agree. The link I posted earlier can give a real value of anything that people here may own- a real one at thatIf in my old job as an investment banker I had behaved as badly as some wine merchants I'd have been struck off years ago. As an example you are specifically forbidden as an investment bank from publishing research that supports any positions you have...something that wine brokers do all the time!
LooneyTunes said:
Wine-searcher.com is usually more comprehensive than FRW for pricing (broader range of reference points). There's an app too if you're very sad... 
Good to know, thanks! Like I say, no affiliation with me I just know that EF and at least one other use that for the underlying...mug81 said:
LooneyTunes said:
Wine-searcher.com is usually more comprehensive than FRW for pricing (broader range of reference points). There's an app too if you're very sad...
Good to know, thanks! Like I say, no affiliation with me I just know that EF and at least one other use that for the underlying...Gassing Station | Finance | Top of Page | What's New | My Stuff