Vinovest
Managed wine and whiskey investment platform providing portfolio construction, authentication, climate-controlled storage, and insurance for investment-grade bottles and casks, with 2.25-2.85% annual all-inclusive fees and 5-15 year recommended hold periods for illiquid tangible collectibles.
Platform Overview
Managed investment platform for fine wine and whiskey collectibles. Vinovest constructs diversified portfolios using AI-driven algorithms and sommelier expertise, sources investment-grade bottles and casks from wineries and global exchanges, and provides end-to-end servicing including authentication, bonded warehouse storage, insurance, portfolio rebalancing, and liquidation coordination. Investors own physical assets outright with 2.25-2.85% annual all-inclusive fees covering storage, insurance, authentication, and active management. Recommended 5-15 year hold periods for wine and 4-8 years for whiskey casks.
The platform targets 5-15 year hold periods for wine and 4-8 years for whiskey, positioning collectibles as low-correlation portfolio diversifiers with historical double-digit returns. Investors own bottles outright and can request delivery, but 2.25-2.85% annual fees, structural illiquidity, 28% collectibles tax treatment, and currency exposure create material headwinds to net returns.
Minimum Investment
$1,000 for wine portfolios, $1,750 for whiskey casks; $100 weekly or $500 monthly recurring deposit minimums.
Fee Structure
2.85% annually (Starter tier, $1K-$10K), 2.70% (Plus, $10K-$50K), 2.50% (Premium, $50K-$250K), 2.25% (Grand Cru, $250K+); covers storage, insurance, authentication, portfolio management.
Additional Fees
2.9% + $0.30 credit card transaction fee; 1.5% early exit fee if selling before 5-year maturity (wine) or 3-year (whiskey); 1.5% monthly late payment interest; 2.5% marketplace purchase fee.
Asset Types
Investment-grade wines (Bordeaux, Burgundy, Champagne, Italian, RhĂ´ne, Napa), American bourbon casks, Scotch whiskey casks.
Ownership Structure
Direct ownership of physical bottles/casks, not fractional shares or fund interests; can request delivery for consumption.
Hold Period
Recommended 5-15 years for wine (optimal 7-10 years), 4-8 years for whiskey; no mandatory lock-up but early selling typically results in lower returns.
Liquidity
Illiquid; typical sale timeline 2-4 weeks through platform coordination or marketplace peer-to-peer trading; no guaranteed exit mechanism.
Storage & Insurance
Climate-controlled bonded warehouses (UK, France, Singapore, US); full market value third-party insurance with annual appraisals.
Historical Performance
Fine wine: 13.6% annualized returns (15-year Liv-ex); whiskey: 418% cumulative (2011-2022); Vinovest portfolio averages 5.59% (Q1 2022), 6% (full year 2022); 0.12 correlation to S&P 500.
Tax Treatment
Collectibles taxed at maximum 28% federal rate on gains (higher than 15-20% long-term capital gains for equities); cost basis includes cumulative fees paid.
Platform Track Record
Founded 2019; $140M+ invested, 200K+ clients, 1.7M+ bottles under management; $27.5M+ capital returned to investors.
Investor Requirements
Age 21+ (18 outside US); no accredited investor certification required.
🔄Structural Considerations for Wine Collectibles Investing
- Net-of-fee returns after 2.25-2.85% annual charges and 28% tax rate on gains create high hurdle for positive investor outcomes—wine must appreciate materially to compensate for fee drag.
- Currency exposure to British pound introduces volatility layer independent of wine fundamental value, as US investors experience returns in USD while wine priced in GBP on Liv-ex.
- Maturity window timing materially impacts realized returns—selling too early sacrifices appreciation; holding too long risks wine passing peak and declining in value or condition.
- Small portfolios lack diversification—$1,000 may purchase only 5-10 bottles, creating concentration in specific vintages and regions subject to idiosyncratic quality and reputational risks.
Key Gaps & Non-Disclosures
- Platform financial sustainability and servicing backup arrangements for long-duration assets.
- Granular fee component breakdown and cost allocation methodology.
- Detailed sourcing margins and sell-side facilitation economics.
- Standardized total cost of ownership across full holding period scenarios.
Investment Structures
Managed Wine Portfolios
AI-algorithm and sommelier-curated portfolios diversified across Bordeaux, Burgundy, Champagne, Italian, RhĂ´ne, and California regions based on investor risk tolerance (conservative/moderate/aggressive) and timeline. Platform handles sourcing, authentication, storage, insurance, rebalancing, and liquidation coordination.
Whiskey Cask Investing
Direct ownership of American bourbon or Scotch whiskey casks ($1,750 minimum). 4-8 year hold periods with annual samples, distillery visit opportunities, and bottling options at maturity. Platform manages storage, insurance, and buyer coordination at liquidation.
Marketplace Self-Directed
Browse and purchase individual bottles from hundreds of investment-grade wines with historical price data, critic scores, and bid/ask transparency. 2.5% purchase fee includes 3 months storage. Peer-to-peer trading enabled but liquidity not guaranteed.
Wine Futures (En Primeur)
Pre-purchase wine 2-3 years before bottling and release at below-market pricing. Access to allocated Bordeaux and Burgundy vintages typically reserved for trade insiders. Premium tier ($50K+) feature.
Risk Structure
Illiquidity
No guaranteed exit mechanism; typical 2-4 week sale timeline for blue-chip vintages in normal market conditions, but buyers may not exist for niche or poorly-rated bottles, particularly outside optimal maturity windows or during market stress.
Fee drag
2.25-2.85% annual fees compound to 20-28% total cost over decade, creating high hurdle rate for positive net returns.
Currency exposure
Wine primarily priced in British pounds on Liv-ex exchanges; GBP/USD fluctuations create volatility independent of wine intrinsic value for US-based investors.
Platform dependency
Realization depends on platform servicing continuity for storage, insurance, and liquidation coordination over 5-15 year hold periods.
Physical asset risks
Cork failure, premature oxidation (premox), ullage, smoke taint, condition deterioration despite professional storage and insurance.
Concentration risk
Small portfolios ($1,000-$10,000) provide limited diversification across vintages and regions.
Illiquidity and capital lock-up
Risk Summary
Wine and whiskey are illiquid tangible assets requiring multi-year hold periods with no guaranteed exit mechanism. Typical 2-4 week sale timeline applies to blue-chip vintages in normal market conditions.
Why It Matters
Investors cannot access capital on demand; forced early liquidation may result in losses or below-market sales, particularly for non-blue-chip or poorly-timed vintages.
Mitigation / Verification
Only invest patient capital with 7-15 year horizon; size allocation conservatively (2-5% of investable assets); establish liquidity reserves elsewhere in portfolio.
Fee drag and hurdle rate
Risk Summary
2.25-2.85% annual fees compound to 20-28% total cost over decade, requiring substantial appreciation to generate positive net returns.
Why It Matters
Headline vintage appreciation may not translate to investor profitability after fees and taxes.
Mitigation / Verification
Model net-of-fee scenarios assuming flat or modest appreciation; compare to passive index returns with lower fee structures; calculate break-even appreciation required.
Currency volatility (GBP/USD)
Risk Summary
Wine primarily priced in British pounds; US investors experience GBP/USD exchange rate volatility layered on top of wine intrinsic value changes.
Why It Matters
Wine may appreciate in GBP terms but investor sees loss in USD due to pound weakness; historical 27% USD strengthening vs GBP compressed returns.
Mitigation / Verification
Understand that returns shown in USD include both wine performance and currency effects; diversify across asset classes to mitigate currency concentration.
Collectibles tax treatment
Risk Summary
Wine and whiskey gains taxed at 28% federal collectibles rate, higher than 15-20% long-term capital gains for equities.
Why It Matters
After-tax returns materially lower than pre-tax vintage appreciation suggests; tax drag compounds fee drag.
Mitigation / Verification
Model after-tax net returns; consider tax-advantaged account suitability with CPA; compare to tax-efficient equity index funds.
Platform longevity and servicing continuity
Risk Summary
Vinovest founded 2019 with 6-year track record; servicing continuity over full 7-15 year wine maturation cycles unproven.
Why It Matters
Platform failure, restructuring, or servicing discontinuation could complicate ownership verification and asset realization despite direct bottle ownership.
Mitigation / Verification
Review platform financial health disclosures if available; understand custodial arrangements and backup servicing protocols; diversify across multiple platforms if building substantial wine allocation.
Maturity window timing risk
Risk Summary
Wine has optimal drinking/selling windows; mistiming liquidation (too early or too late) materially impacts returns.
Why It Matters
Selling before maturity sacrifices appreciation potential and incurs 1.5% early exit fee; holding past peak risks declining value and condition deterioration.
Mitigation / Verification
Rely on platform maturity guidance but understand timing imperfect; accept some variance in realized returns based on liquidation timing; avoid forced early exits.
Physical asset condition and fraud
Risk Summary
Cork failure, premature oxidation, ullage, smoke taint, counterfeit bottles despite authentication and insurance.
Why It Matters
Older wines particularly susceptible to condition issues; insurance may not cover subjective quality deterioration; counterfeits persist in fine wine market.
Mitigation / Verification
Leverage platform authentication and provenance tracking; understand insurance coverage limitations; recognize some condition risk inherent to physical assets.
Market volatility and subjective valuation
Risk Summary
Wine values fluctuate based on critic scores, vintage quality reports, regional reputation changes, collector preferences, and demand shifts.
Why It Matters
Burgundy and Champagne have appreciated strongly recently but preferences can shift; poor harvest quality reports tank vintage values.
Mitigation / Verification
Diversify across regions and vintages; understand returns non-linear and vintage-specific; accept valuation subjectivity inherent to collectibles.
Concentration and under-diversification
Risk Summary
Entry-level portfolios ($1,000-$10,000) provide limited diversification—may hold only 5-15 bottles concentrated in few regions.
Why It Matters
Small portfolios amplify idiosyncratic risks (poor vintage, regional reputation decline, condition issues).
Mitigation / Verification
Recognize diversification limitations at lower account sizes; consider wine as satellite allocation within broader alternative assets allocation; scale allocation size to achieve meaningful diversification.
Regulatory & Legal Posture
Security Status
Not regulated as securities—physical tangible assets
Investors purchase and own physical bottles and casks directly, not shares or fund interests. Transactions not subject to SEC oversight but platform may engage broker-dealers for certain services.
Disclosure Quality
Platform provides fee disclosures, performance reporting, and risk acknowledgments but no SEC-mandated prospectus or offering circular.
Custody Model
Direct ownership with platform-coordinated storage, insurance, and servicing
Consumer protection through contractual terms and third-party insurance rather than regulatory custody requirements.
Tax Treatment
Reporting
Form 1099 for sales exceeding $20,000 annually
Annual issuance for reportable transactions; investors responsible for all sales reporting on Schedule D and Form 8949.
Income Character
Collectibles capital gains taxed at maximum 28% federal rate
Wine and whiskey sold at profit taxed under IRC Section 408(m) collectibles treatment, higher than 15-20% long-term capital gains rate for equities. Short-term gains (<1 year) taxed as ordinary income. Cost basis includes purchase price plus cumulative storage and insurance fees.
28% collectibles rate materially reduces after-tax returns versus equities; fee drag compounds tax drag. State tax treatment varies. Multi-jurisdiction storage may trigger VAT or duty obligations if bottles shipped across borders.
Account Suitability
Taxable
Operationally simplest; capital gains deferral until sale.
Roth IRA
Potentially attractive for tax-free growth if custodian permits collectibles and liquidity needs aligned with account rules.
Traditional IRA
Generally unsuitable due to illiquidity and RMD conflicts.
HSA
Unsuitable—not qualified medical expense.
Investor Fit
Alternative asset diversifiers with 7-15 year patient capital
Wine's 0.12 correlation to S&P 500 and historical performance support niche satellite allocation (2-5% of portfolio) for diversification-minded investors comfortable with long hold periods and structural illiquidity.
High-net-worth individuals seeking tangible assets
Professional storage, insurance, and authentication remove logistical barriers; utility value (can consume bottles) provides downside mitigation; $50K+ balances access lower fees (2.5%) and premium features (wine futures, advisors).
Wine enthusiasts and collectors
Domain knowledge aids vintage analysis but doesn't eliminate structural risks (fees, illiquidity, currency); consumption temptation may conflict with investment discipline.
Retirement account holders (Roth IRA) with long horizons
Tax-free growth attractive for 10-15 year compounding but illiquidity conflicts with Roth contribution recovery rules and requires specialized self-directed IRA custodian.
Mass-market retail investors and beginners
$1,000 minimum accessible but insufficient for diversification; 2.85% fees high versus passive index funds; complexity and illiquidity unsuitable for core portfolio allocation.
Liquidity-dependent investors
2-4 week minimum sale timeline with no guaranteed exit; emergency liquidation may result in losses; unsuitable for short-term goals or emergency funds.
Tax-sensitive high earners
28% collectibles tax rate higher than 15-20% equity long-term capital gains; after-tax returns materially lower; tax drag compounds fee drag.
Income-seeking retirees
No ongoing distributions; returns only realized at sale; illiquidity conflicts with retiree income needs and distribution requirements.
Key Tradeoffs
Accessibility vs diversification
$1,000 minimum enables participation but provides limited portfolio diversification—may purchase only 5-10 bottles concentrated in few regions, amplifying vintage and regional risks.
All-inclusive servicing vs fee transparency and drag
2.25-2.85% annual fee bundles storage, insurance, authentication, and management for convenience but creates material drag (20-28% over decade) and obscures individual cost components.
Physical ownership rights vs operational dependency
Direct bottle ownership provides legal clarity and consumption optionality but realization depends on platform servicing continuity, liquidation facilitation, and marketplace liquidity over 5-15 years.
AI curation accessibility vs expert control
Algorithmic portfolio construction lowers barrier to entry for non-experts but surrenders vintage selection, timing, and liquidation discretion to platform.
Low-correlation diversification vs collectibles tax treatment
Wine's 0.12 correlation to equities supports diversification thesis but 28% collectibles tax rate materially higher than 15-20% long-term capital gains for stocks.
Historical performance vs short track record
Wine asset class has 15+ year performance history but Vinovest platform founded 2019 with only 6 years operations—servicing continuity through full maturation cycles unproven.
Who This Is Not For
Emergency fund builders or liquidity-dependent investors
Capital locked up 5-15 years with no guaranteed exit; 2-4 week sale timeline assumes willing buyers; unsuitable for emergency reserves or short-term goals.
Income-seeking retirees
No ongoing distributions; returns only realized at sale; illiquidity conflicts with retiree cash flow needs and RMD requirements.
Fee-sensitive investors
2.25-2.85% annual fees create 20-28% drag over decade, requiring substantial appreciation for positive net returns; passive equity index funds charge <0.10%.
Tax-sensitive high earners
28% collectibles tax rate significantly higher than 15-20% long-term capital gains on equities; after-tax returns materially compressed.
Short-term traders or speculators
Wine requires 5-15 year hold periods for optimal returns; no intraday liquidity or price discovery; early exit incurs 1.5% fee.
Beginners unfamiliar with alternative assets
Complex risk profile (illiquidity, currency, condition, subjective valuation); requires understanding of collectibles investing mechanics; unsuitable as first alternative asset exposure.
AltStreet Perspective
Verdict
Legitimate access to historically strong-performing asset class with material structural headwinds
Positioning
Vinovest removes logistical barriers to investment-grade wine collecting through comprehensive servicing, but 2.25-2.85% annual fees, structural illiquidity, 28% collectibles tax treatment, currency exposure, and six-year platform track record create significant headwinds to net investor outcomes. The platform's value proposition rests on (1) wine's historical 13.6% annualized returns and low equity correlation continuing, (2) AI curation and sommelier expertise consistently selecting appreciating vintages, and (3) servicing continuity over 7-15 year hold periods. Conservative allocation sizing (2-5% of investable assets) appropriate for diversification-minded investors with patient capital and high-hurdle expectations.
"Professional wine investing infrastructure for patient capital, but fees, taxes, illiquidity, and currency create high net return hurdle."
Next Steps
Model net-of-fee after-tax returns assuming conservative appreciation scenarios (3-5% annually) to understand required vintage performance for positive investor outcomes after 2.25-2.85% annual fees and 28% collectibles tax rate.
Review Vinovest quarterly performance reports and Liv-ex wine indices to assess historical return patterns, volatility, and correlation characteristics across regions and vintage years.
Determine allocation size treating wine as illiquid satellite exposure (typically 2-5% of investable assets) within broader alternatives allocation including real estate, private credit, and other low-correlation assets.
Compare Vinovest's all-inclusive fee structure against alternatives: Vint's fractional shares (no annual fees but 0.5-20% transaction fees), direct wine merchant relationships, or Cult Wine Investment (UK-based, lower fees but higher minimums).
Consult tax professional regarding collectibles tax treatment, cost basis calculation including cumulative fees, state tax implications, and suitability of self-directed IRA structures before funding account.
If proceeding, start with minimum investment ($1,000) to assess platform user experience, reporting quality, portfolio construction approach, and liquidation facilitation capabilities before scaling allocation.
Establish personal consumption policy—decide upfront whether underperforming bottles will be sold or consumed to avoid undermining investment discipline.
Related Resources
Explore Asset Class
Luxury Collectibles - Wine & Spirits🔍Review Evidence
Scrape Date
2026-01-13
Methodology
Analysis based on review of Vinovest platform materials (vinovest.co), fee disclosure pages, quarterly performance reports, SEC search for regulatory filings, third-party wine market research (Liv-ex indices, Knight Frank Luxury Investment Index), and comparative evaluation against Vint, Cult Wine Investment, and direct merchant channels. Focus on structural design, fee mechanics, historical performance data, liquidity characteristics, tax treatment, and investor suitability rather than projected returns.
Scope
Platform mechanics, product offerings, fee structures, storage and insurance arrangements, AI algorithm approach, sommelier expertise, historical performance (Vinovest exits and Liv-ex indices), liquidity profile, currency exposure, tax treatment, regulatory status, operational continuity, and comparative positioning within wine investing landscape.
Key Findings
- •Platform charges 2.25-2.85% annual all-inclusive fees covering storage, insurance, authentication, and portfolio management.
- •Historical Vinovest exits include: High-Rye Bourbon Cask 30.7% return (7 months), Dom Pérignon 2010 30.7% annualized, Domaine Anne-Françoise Gros 2017 43.1% annualized, Gagnard Delagrange 2018 164.79% annualized.
- •Fine wine (Liv-ex indices): 13.6% annualized over 15 years, 0.12 correlation to S&P 500.
- •Recommended hold periods: 5-15 years for wine (optimal 7-10 years), 4-8 years for whiskey casks.
- •No guaranteed secondary market; typical sale timeline 2-4 weeks; marketplace trading available but liquidity limited.
- •Wine gains taxed as collectibles at maximum 28% federal rate, higher than 15-20% long-term capital gains on equities.
- •Platform founded 2019; $140M+ invested, 200K+ clients, 1.7M+ bottles under management, $27.5M+ returned to investors.
Primary Source Pages
- vinovest.co
- vinovest.co/how-it-works
- vinovest.co/pricing
- vinovest.co/track-record
- vinovest.co/help (FAQ)
- vinovest.co/help/does-vinovest-charge-fees
- vinovest.co/terms-conditions
- Vinovest Quarterly Reports (Q1 2022, Q3 2022, Q4 2022)
- Liv-ex Fine Wine indices
Frequently Asked Questions
What is the minimum investment for Vinovest?
$1,000 for wine portfolios, $1,750 for whiskey casks. Recurring deposits require $100 weekly or $500 monthly minimums. No accredited investor requirement.
What fees does Vinovest charge?
Annual fees: 2.85% (Starter, $1K-$10K), 2.70% (Plus, $10K-$50K), 2.50% (Premium, $50K-$250K), 2.25% (Grand Cru, $250K+). Additional: 2.9% + $0.30 credit card fee, 1.5% early exit fee before 5 years, 2.5% marketplace purchase fee.
Do I actually own the wine bottles?
Yes, 100% direct ownership of physical bottles and casks. You can request delivery for personal consumption at any time, which removes them from investment portfolio.
How liquid are wine investments?
Illiquid. Typical sale timeline 2-4 weeks to find buyers. Marketplace provides peer-to-peer trading but no guaranteed exit. Early liquidation before 5-year maturity incurs 1.5% fee.
What returns can I expect?
Historical: Fine wine 13.6% annualized (15 years, Liv-ex). Vinovest exits range from 30.7% to 193%. However, 2.25-2.85% annual fees and 28% collectibles tax create high hurdle. Past performance doesn't guarantee future results.
How long do I need to hold wine investments?
Recommended 5-15 years for wine (optimal 7-10 years), 4-8 years for whiskey. No mandatory lock-up but early selling typically yields lower returns and incurs 1.5% fee.
How is wine investment income taxed?
Collectibles capital gains taxed at maximum 28% federal rate (higher than 15-20% long-term capital gains on stocks). Cost basis includes purchase price plus cumulative storage/insurance fees. Form 1099 issued for sales >$20K annually.
What are the main risks?
Illiquidity (5-15 year holds), fee drag (2.25-2.85% annually compounds to 20-28% over decade), currency risk (GBP/USD), 28% tax rate, physical asset risks (cork failure, condition deterioration), platform longevity (founded 2019).
How does Vinovest compare to Vint?
Vinovest: Direct bottle ownership, $1K minimum, 2.25-2.85% annual fees, can consume wine. Vint: Fractional shares, $25 minimum, no annual fees but 0.5-20% transaction fees, cannot consume. Vinovest offers more control and consumption optionality.
Is Vinovest legitimate?
Yes. Founded 2019, $140M+ invested, 200K+ clients. Bottles stored in bonded warehouses with third-party insurance. However, only 6-year track record—servicing continuity through full 7-15 year wine maturation cycles not yet proven.