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BoardGameGeek» Forums » Everything Else » Religion, Sex, and Politics

Subject: Wine scam unveiled rss

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Chengkai Yang
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https://www.bloomberg.com/features/2016-premier-cru-john-fox...

Apparently a $45M ponzi scheme involving vintage wines, was an interesting read. Sounds a lot like some KS horror stories, buy now and delivery years later.
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Walking on eggshells is not my style
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This is a good post for chit chat.

RSP needs good pot and crack scam to get up in arms.
 
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Me nah play no 'ide and seek
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Meh, I've seen Chit-Chattier threads in here, and I enjoyed the article.
 
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Mutton Chops
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draxx01 wrote:
https://www.bloomberg.com/features/2016-premier-cru-john-fox...

Apparently a $45M ponzi scheme involving vintage wines, was an interesting read. Sounds a lot like some KS horror stories, buy now and delivery years later.


Well, the French producers have been selling wine en primeur for many years (in Bordeaux, for centuries) - en primeur is where a quantity of wine still in the barrel is purchased before it's bottled, but that's only a lead-time of 12-18 months. Even so, it's best to purchase it directly from the producer, rather than going through any sort of broker or middle-man.

It seems odd to me that anyone would be daft enough to purchase something years in advance of the expected delivery, but I suppose if one's got more money than one knows what to do with, it might not seem so important.

I have to say though, that I have no sympathy at all with anyone who got burned by this scam who was purely speculating, and had no intentions of drinking the wines they were buying. I find wine speculation a deeply repellent activity - wines are for drinking.
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Boaty McBoatface
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I always thought wine "consersorism" was a scam.
 
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