News - another wine investment co goes bust

707 · Post by **707** » Fri Mar 04, 2005 5:26 pm

Hot on the heels of Wine Orbs demise last week, this week Heritage Fine Wines has also gone into receivership a couple of days ago.

The status of peoples investments is unclear at this stage but I hope those that put in their money at least get the wine they paid for, albeit without the profit they were expecting.

If anyone who has investments with them hasn't yet heard this news, I'd suggest they contact the receivers asap. The HFW website refers you to them.

Serge Birbrair · Post by **Serge Birbrair** » Fri Mar 04, 2005 5:41 pm

Wine as a collection item is a sacrelige. Wine is meant to be quaffed, not collected. It brought tears on my eyes the post I read on some other wine board where the guy is happy that his wine collection would go to Christie Auction after his departure.
I'd be very sad if my last thought alive be:
So much wine left I could have enjoyed while living"

I personally preffer the collection items one can enjoy looking at every day without worrying about their values in time space continuum.

Just put those on the wall yesterday:
Face

Bovinity A

Bovinity B

Broken Wing

smithy · Post by **smithy** » Fri Mar 04, 2005 5:45 pm

707,

Every time I hear of such things it gets me really quite upset.
Perhaps it just goes to show that the best thing you can do is have your own cellar ( OR ) a really good reputatable cellar where you can store your wines.

There has been way too many schemes getting a living on the edge of the wine industry without putting too much in.

The little reputable wineries that supplied these resellers may well have also lost their money.

Its a lose lose lose situation. Hopefully those investors will be a bit wiser down the track, and but their own wine from wineries direct.

cheers
Smithy

Brucer · Post by **Brucer** » Sat Mar 05, 2005 12:36 pm

I remember contacting Heritage Fine wines after I saw an ad for 99 d'Arenberg Dead Arm, which was about to be released, and I wanted to buy half a doz.
They told me that the minimum I could buy was a pallet, and the price worked out to be around $95 a bottle, when it would have been around $50 from retailers.
When I questioned the prices, they said it included storage, and their knowledge in selling it in a few years in the USA for lots of money.
They then gave me all these press clippings about the 98 Dead Arm, and how much it sold for in the states. (Which was probably a very small amount at one auction)
I said, "Thanks, but no thanks".

TORB · Post by **TORB** » Sat Mar 05, 2005 2:25 pm

Bruce,

Whats your problem! :roll:

With the amount of wine you buy, 1/2 a pallate of one wine should have not been a problem.

You would just have to have drunk after

or asked Red Bigot round for a quiet little drink.

Guest · Post by **Guest** » Sat Mar 05, 2005 3:28 pm

Ric,
Looking at Red Bigots list of wines bought last year, and so far this year, I think he has got a bigger buying problem than me! :shock:

Cheers
Bruce

Red Bigot · Post by **Red Bigot** » Sat Mar 05, 2005 3:53 pm

Anonymous wrote:Ric,
Looking at Red Bigots list of wines bought last year, and so far this year, I think he has got a bigger buying problem than me!
Cheers
Bruce

Yeah, last year was my biggest buying year since 2000 when the 98 reds were mostly on release. Believe it or not, with tastings, wine-group dinners where I provide most of the wine, auctions and mixing 6-packs and dozens for friends and newbies getting into wine as well as two of us drinking, my stock now is almost exactly the same as this time last year.

In bad news for retailers, despite the promising start, I expect to buy less this year, although when I retire next month I'm thinking of offering a 'best price' buying service and/or red sample-packs, that might keep up the points on my credit cards if anyone is interested.