Failed wine investment

Vic Bro · Post by **Vic Bro** » Mon Mar 21, 2005 11:59 am

I am very new to this forum, but am seeking advice on a wine investment of mine.

Over the last few years I have bought wine through a specialist wine trader. Recently however, I have been informed that the company has gone into liquidation.

My wine is currently, locked down so no one can touch it. But soon, I will have to deal with the problem myself.

I bought the wine wiuth the view to trade it in the US about now.

Does anyone have any advice on this matter? Should I get legal advice? Is anyone else in the same sitation?

Guest · Post by **Guest** » Mon Mar 21, 2005 12:34 pm

Commiserations Vic, I suspect you will be lucky to get more than a fraction of your money back.

You should have heard from the Liquidator by now, they control what happens to the assets of the failed company and deal with creditors in an order determined by law. If not you should contact them, Ngan and Co I think, for both Wine Orb and Heritage.

There is probably not much use getting legal advice, would just be wasting more money.

Guest · Post by **Guest** » Mon Mar 21, 2005 2:53 pm

We'll keep our fingers crossed for you that you at least get a fair proportion of what you've paid for.

The problem now is the wine itself. Hopefully you've bought some of the better ones that Orb & Heritage were moving but if you're not wine savvy then you may have been sold pedestrian wine at an inflated price.

The US market is quite depressed at present and difficult to get wine into anyway. You've probably got to look at disposing of it locally but guess what, all the other investors will be trying to do the same thing with the same wines!

As both of these are complete collapses and the main players behind them are dodguy to say the least there's no point in wasting money on legals.

Maybe wait until you see what wine you've been left with after the liquidation and chat to us again.

707

Craig(NZ). · Post by **Craig(NZ).** » Mon Mar 21, 2005 7:41 pm

maybe try Amway next time

Guest · Post by **Guest** » Mon Mar 21, 2005 8:08 pm

Im not naive as some here that say you cant make money out of wine so look elsewhere but i will say the best way is to buy a heap yourself of good long term stuff and wait ages for the bennifits. DONT TRUST OTHERS. Must buy variety and at good price.

Good luck next time.MONEY MAKES WORLD GO ROUND

bacchaebabe · Post by **bacchaebabe** » Tue Mar 22, 2005 8:26 pm

I don't think anyone here thinks you can't make money out of wine. Of more concern are the flippers on hard to get on mailing lists that buy the wine that we would like to carefully nuture and drink and sell it on, just to make a quick profit.

It's very annoying to true wine lovers. Wine is a commodity these days but it doesn't make it any less annoying to someone who can't get on a wine list and has to pay very inflated secondary market prices, just to try something.

Guest · Post by **Guest** » Wed Mar 23, 2005 6:17 am

chris

I agree with your idealist view of what wine should be but realsitically wine is has been and will always be a commodity, just look at the english auction market over the last few decades

where there are winners there are losers thats life and capitalism for you

NN