Fine wine portfolio management
Fine wine, professionally held. In your name, not ours.
Every case registered to you at LCB Eton Park, an HMRC-approved bonded warehouse. No annual management fee, no retainer, no acquisition mark-up. We charge 2% commission on sale, and nothing before that. Capital at risk.
- Liv-ex member
- Held in your own name in bond
- 2% on sale only
Capital at risk. The value of fine wine can fall as well as rise and you may get back less than you invest. Past performance is not a guide to future performance. Fine wine is a physical asset and investment in it is not regulated by the Financial Conduct Authority. You will not have access to the Financial Services Compensation Scheme or the Financial Ombudsman Service. Fine wine is illiquid and may take time to sell. Cellar Advisor does not provide financial, investment or tax advice. Please seek independent advice before making any investment decision.
Would rather talk than type? +44 20 3576 5592, Monday to Friday, 9am to 6pm. No switchboard, no script.
Speak to a portfolio manager
A straight answer on whether fine wine suits your circumstances. We come back within one business day.
- Liv-ex member
- Knightsbridge and Dubai
- Wine held in your own name at LCB Eton Park
- No annual management fee
- Named portfolio manager
The checks a careful person runs
Five questions to ask any fine wine firm. Here are our answers.
01
Who holds the wine?
You do. Every case is registered in your own name at LCB Eton Park. We never hold title and we are not your custodian. You can visit by appointment, and request photographs and condition reports at any time.
02
What happens if the firm ceases trading?
Nothing happens to your wine. It is in your name at the warehouse, and you can instruct any other merchant or broker to act for you.
03
What does it cost, in full?
Storage and insurance, passed through at cost and billed to you directly by the warehouse, and 2% commission on confirmed sale proceeds. No annual management fee, no retainer, no acquisition mark-up, no custody fee, no setup fee.
04
Is it regulated?
No. Fine wine is a physical asset and is not a regulated investment. There is no FSCS or Ombudsman cover. We say so here because a firm that does not is not being straight with you.
05
Where are the trades done?
On the Liv-ex market, where we are a member, and through direct producer relationships including Bordeaux allocations. Purchases are documented at trade level, and you see the invoice.
What you actually own
Your wine. Independent of us.
Because your wine is registered in your name at LCB Eton Park, you are not dependent on Cellar Advisor to access, manage or realise it.
It is not a fund, not a pooled vehicle and not a certificate of entitlement. Title and custody sit with you and the warehouse. We sit alongside, not in between.
You
Legal owner of every case
LCB Eton Park
Your named account, HMRC-approved bond
Cellar Advisor
Advises and executes. Never holds title.
Title and custody sit with you and the warehouse. We sit alongside, not in between.
The fee model
What a management fee costs, and why we do not charge one.
Many advisory firms charge an annual management fee of 1% to 2% of the portfolio's value regardless of what the portfolio does, and it is charged every year. We charge no annual fee at all.
Typical advisory firm
£7,500
Management fee of 1.5% of value each year on £100,000, held five years, no growth assumed
Charged whether or not the wine has moved.
Cellar Advisor
£2,000
2% commission on a £100,000 realisation, no growth assumed
Charged once, when a sale settles. Nothing is charged if no sale takes place.
This illustrates fees only. It assumes no change in value and is not a projection. Storage at LCB Eton Park is passed through at cost with no custody mark-up and billed to you directly by the warehouse. Insurance to current Liv-ex market value is included in the storage charge.
Charges
What we charge for, and what we do not.
We do not charge
- No annual management fee
- No retainer
- No acquisition mark-up
- No custody fee
- No setup fee
What you do pay
Storage and insurance, passed through at cost
Billed to you directly by LCB Eton Park, with no custody mark-up. Insurance to current Liv-ex market value is included in the storage charge.
2% commission on confirmed sale proceeds
Charged once, when a sale settles, and deducted from proceeds. Nothing is charged before then, or if no sale takes place.
Wine transferred in from another firm and realised to exit carries 7% commission on confirmed proceeds.
How it works
Five steps, and a named person throughout.
01
Discovery conversation
Objectives, time horizon and appetite for risk, before any wine is discussed. If fine wine does not suit you, we say so.
02
Written proposal
Regions, producers and vintages with the reasoning for each, and the total cost of storage and insurance stated.
03
Sourcing at trade level
Through our Liv-ex membership and direct producer relationships, including Bordeaux allocations, with no mark-up added. Portfolios are built across Bordeaux, Burgundy and Champagne, sourced through our Liv-ex membership and négociant network.
04
Storage in your name
Every case registered to you at LCB Eton Park in bond, climate controlled and insured.
05
Ongoing management
Annual reviews at Liv-ex mid-prices, monthly market reports, and a portfolio manager you can call. Realise or reinvest. The decision stays with you.
Who it suits and who it does not
Fine wine is not for everyone.
It may suit you if
- You can hold for five years or more
- You can leave the money untouched
- You already have a diversified position elsewhere
- You want a physical asset you own outright and can see
It is unlikely to suit you if
- You need liquidity
- You are looking for income
- You want a guaranteed outcome
- You would be relying on this as your main investment
A named portfolio manager will tell you either way in the first conversation.
The risks, plainly
What can go wrong.
Values fall
Fine wine prices move with demand from collectors and the trade and can fall for extended periods.
It is illiquid
Realising a case takes time and depends on a buyer being found at the price. Liv-ex improves this but does not remove it.
It is unregulated
No FSCS, no Ombudsman.
Counterfeits and condition
Every case is sourced through documented trade channels and stored in bond to reduce this risk, not to eliminate it.
Costs
Storage and insurance are charged every year whether values rise or fall.
A note on tax
Wine and tax, briefly.
HMRC generally treats wine as a wasting asset, so a gain on most wine may generally fall outside capital gains tax, with exceptions for some fortified and long-lived wines and for anyone HMRC regards as trading. This applies to UK taxpayers. If you live outside the UK, the treatment depends on your country of residence. Wine held in bond has duty and VAT suspended while it stays there. This is not tax advice; our plain-English note on wine and capital gains tax sets out the exceptions and links to HMRC's guidance, and your own adviser should confirm your position.
A straight conversation, no minimum.
Request a consultationor call +44 20 3576 5592, Monday to Friday, 9am to 6pm.
Risk warning
Capital at risk. The value of fine wine can fall as well as rise and you may get back less than you invest. Past performance is not a guide to future performance. Fine wine is a physical asset and investment in it is not regulated by the Financial Conduct Authority. You will not have access to the Financial Services Compensation Scheme or the Financial Ombudsman Service. Fine wine is illiquid and may take time to sell. Cellar Advisor does not provide financial, investment or tax advice. Please seek independent advice before making any investment decision.
Would rather talk than type?
Speak to a portfolio manager directly. No switchboard, no script.
+44 20 3576 5592Monday to Friday, 9am to 6pm
Common questions.
- What is the minimum?
- There is no minimum to begin a conversation. Portfolios are built at every level.
- How long should I expect to hold?
- Five years or more. There is no lock-in, but a short horizon rarely suits the asset.
- How do I realise the value later?
- You instruct us; we list on Liv-ex and execute against live bids. Net proceeds within five to ten business days of settlement, with a statement.
- Can I visit and see my wine?
- Yes, by appointment at LCB Eton Park.
- Is fine wine investment regulated?
- No, and we say so on every page. Fine wine is not a regulated investment, and Cellar Advisor is not authorised or regulated by the Financial Conduct Authority. You do not have access to the Financial Ombudsman Service or the Financial Services Compensation Scheme.
Before you decide.
Three things worth reading, none of which ask anything of you.
Speak to a portfolio manager
A straight answer on whether fine wine suits your circumstances. We come back within one business day.