Yes. We charge a storage and insurance fee that covers insurance, storage, authentication, and active management of your portfolio. The amount of the fee varies based on your account tier:
- Standard Tier - 2.85%
- Plus Tier - 2.7%
- Premier Tier - 2.5%
- Grand Cru Tier - 2.25%
Fees are prorated across the year and only charged on the invested capital in your account. Leftover cash in your account will not be charged.
Late fees and penalties
Storage and insurance is an ongoing, necessary cost for physical assets such as wine and whiskey. As such, they must be paid within one month of their due date (the 1st of each month). If the payment is not made on time, Vinovest reserves the right to charge a 1.5% interest rate.
After 90 days of nonpayment, Vinovest may suspend your account.
After 180 days of nonpayment, Vinovest reserves the right to liquidate the wine and whiskey in the portfolio at a 15% discount to cover unpaid storage and insurance costs.
Late fees may be waived under certain circumstances. If you believe you’ve been charged a late fee in error or have a valid reason for the delay, please contact Vinovest customer support immediately.
Processing fees
Additionally, when paying with a credit card, our payment processors will charge the following fees:
- U.S. Credit Cards: 2.9% + 30¢ per transaction.
- International Credit Cards: An additional 1.5% on top of the domestic fee for international cards.
Please be aware that your bank or credit card issuer may also apply other charges such as overdraft fees, insufficient funds fees, or other related fees. If you encounter additional fees, they're likely from the sending bank, an intermediary bank, or due to FX fluctuations, and we recommend contacting your financial institution directly.
Listing fees
There is no lock-up period for your Vinovest account, and we do not charge a commission or fee when we sell your wine as part of your managed portfolio.
However, if you choose to manually list your wine before the ideal selling window, we assess a 1.5% listing fee upon completion of the sale. We will only assess this fee after your wine has sold. It is completely free to list a wine on the marketplace and we will not charge you if the wine is unsold.
To read about the fees associated with the self-directed Vinovest Marketplace, please click here.
Note: fine wine and whiskey are long-term, illiquid assets. Selling wine and whiskey outside of its ideal selling window may result in the rate of appreciation not covering costs and expenses, such as Vinovest transaction fees and third party costs to sell the wine or spirit. For more information, please read our Terms and Conditions.