by Wine Owners
Posted on 2015-03-05
You’ve got to laugh. A friend of mine contacted a company called Noble Rock, ostensibly on behalf of his father who had a fine wine collection. My friend’s name is Peter Bevan.
Having requested a valuation from Noble Rock, and offering to sell his wine through them, they called him back offering to sell carbon credits. As interesting a segue as I have ever come across...
Once the conversation was brought back to the question of his father’s wine, he was told that his wine collection had gone up in value substantially. This surprised Peter since he hasn’t yet provided details of the wines to them.
So how could they possibly know what his wines were worth? The Man from the Rock patiently explained to Peter that they knew because every time a wine was bought en primeur the details of the buyer and their wines were entered onto a Register – which they had looked up and that was why they knew about his wines!
Valuations that were subsequently discussed were sky-high, predicated on the well-practised advance fee fraud of paying a sum of money up-front to get the wine to Hong Kong, where it would be sold at auction at a massive premium to market. In this case the advance fee was justified on the basis of it being a VAT payment of 10%. Peter queried, if it was VAT, why it was only 10% of the value and not 20%; the answer being that only half of the VAT due was payable straight away. A novel concept that would interest HMRC I’m sure.
It was all so entertaining and extraordinary. But there is a serious side since people are being taken for a royal ride. Otherwise these people wouldn’t exist would they? The message is clear, do not take calls from people you don’t know selling by phone. And if anyone suggests there’s a way to sell wine at a market premium (check the market level price on www.wineowners.com), they are conning you. It simply doesn’t work that way.
Oh, and what happened to my friend Peter? Well, his name wasn’t really Peter; his real name is Mark. Mark Bevan, of Nexus Wine Collections. He runs one of the UK’s most successful specialist fine wine storage businesses, and had contacted Noble Rock because a number of his clients had been approached by phone spinning their yarns of criminal intent.
