There are a few things to watch out for to avoid these less than reputable wine dealers. The advice is fairly straightforward, but bear in mind that these wine brokers are trained con artists so things may not always be as they seem. However, with a few simple checks you can ensure that your money and investment is safe.
First and foremost, look for “Wine Investment Association” membership. This is indicated by a distinctive kite mark on any of their literature – and remember that you are more than within your rights to ask for this so any honest seller will be glad to show you the logo.
To be a member of this association, companies have to go through a rigorous checklist and a large part of this requires security checks which ensure they are who they say they are.
It is very difficult for companies to get credit card or debit card access if they are fraudsters, so if you are looking for an added failsafe to guarantee you are dealing with a proper investor, simply insist that they pay by credit card and check that this is affiliated with a reputable company. You can always check their details on the Company House website to see just how established they are and if they have any debts that could be of concern – it really comes down to good old fashioned due diligence.
Remember that credit card service providers will only provide facilities to credit worthy companies, so any excuse as to why they want to pay via an alternative method or even delay payment should definitely be ringing some alarm bells.