Keeping wine in optimum conditions and being able to prove where it has been stored is paramount to ensuring your success as a wine collector.
By storing your wine collection 'under bond', without duty applied in a HMRC government bonded warehouse, your collection will not be subject to VAT or Excise Duty until such time as it is removed from bonded storage. At Veblen Wines, we arrange storage for our clients at Vine International, a wholly owned subsidiary of Liv-ex.
Storage at Vine International ensures that the wines are all kept in perfect condition. It also ensures the added bonus of being integrated with Liv-ex. This means that your wines can be traded immediately on the market when the price is right so you can take full advantage of any market movements.
The most important fact when dealing with wine storage is to ensure that you have proof of purchase and ownership. Any reputable company will be happy to provide this. You can then feel safe in the knowledge that, not only is your collection being looked after by experts, it is also under lock and key in your name.
Liv-ex have developed an initiative to avoid buying wine in sub-standard condition called a
SIB (standard in bond) passport. The SIB passport is an electronic certificate issued by Vine. As condition and provenance of a case of wine have a significant impact on its sale price, the passport certifies that it meets quality standards. It enables wines to be processed quickly when they are bought and sold, and allows for immediate trades on Liv-ex.
Vine's highly skilled and experienced staff produce these passports including high resolution photography and detailed condition reports for all wines. The warehouses offer optimal storage conditions, including bi-hourly humidity and temperature monitoring. All wines stored at Vine come with full insurance and proof of ownership using UIDs (unique identification number).
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