Physical Storage of Wine Holdings
The UK is one of the largest hubs of fine wine in the world with an estimated £1.5 billion worth stored here in bonded warehouses. These are custom built warehouses that provide the perfect temperature, humidity and security allowing collectors to store wine ‘in bond’, meaning they do not need to pay duty or VAT on purchase or if they choose to resell.
The advantage of the bonded system is that the wines’ provenance can be guaranteed and as wine often goes up in value and is viewed as an investment, any sale of goods will be expeditious. Moreover, collectors can age their wine in perfect conditions with full confidence of the wines’ safekeeping. Its average temperature is maintained at 13 degrees Celsius (55.4 degrees Fahrenheit) and a humidity level of 60-65% which creates the optimal condition for storing fine wine.
All wines bought and stored with the City A.M. Wine Club are insured at market value. Each case of wine has its own “passport”, with provenance and ownership verified upon arrival at the warehouse. Storage and insurance is charged at £10 per case per year pro rata.
In regards to storage we offer clients two options for storing wine:
The City A.M. Wine Club can open each member an account, whereby each case is stored in the client’s own subaccount. We have a team at the private reserve area of London City Bond that assigns a unique ID code to each case; clients are therefore guaranteed to retain exactly the same case until they come to sell or have the case delivered. Mindful of investors’ concerns for the physical safety of their wine holdings, the City A.M. Wine Club ensures complete division in the storage of company stock and that of investors.
Alternatively, we offer clients assistance in setting up their own bonded warehouse account, there are a number of different warehouses that are suitable around the UK. A private account means that only the named account holder can authorise any transfer or delivery and if wine is purchased through us we generally have the case/s sent within a few days (depending on the warehouse location). If a member already has their own bonded account the wines can be transferred there.
Delivery and Shipping
Members can depend on delivery to their home or office as part of the efficient and straight- forward service. Whenever a collector wishes to take delivery of a wine we can arrange VAT and duty to be paid and the case can be released within 48 hours in the UK. Worldwide delivery is also available using experienced and efficient wine carriers. When requested by clients, wine can be shipped to the warehouse from domestic or international locations.