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From a local merchant, AWI approached them to buy their wines, but the merchant reject it, because of the high cost, also that merchant do have linked in China, told me that the auction is unlikely to go through unless they had all the import papers and the wines lab report etc etc. Mind you this is not for once only, it’s for every wines label importing into China. Hence a lot of local merchant let the Hong Kong counter parts deal with all these. According to my knowledge, AWI had 200 over labels going to be auction off. Do your own calculation, you’ll know this is too much over time. Well I still think you better sell off here at a lost, in fact most of this who bought Grant Bruge Meschach which ever vintage overpaid for this wine.
Look at this local web you’ll know,
http://www.wineexchangeasia.com/pages/posts/grant-burge-meshach-at-half-price-…237.php
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yup, u r rite. Otherwise, how could they afford to pay for ins and storage after yr 3?
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This is completely Libelous and defamatory .
Our lawyers are urgently dealing with this matter and we will vigorously take action against the creator of this fictious libelous blog.
As stated any genuine investors with genuine concerns please contact me at; [email protected]
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I HAVE been trying to contact you for a few months now. Emailing you doesn’t seem to work. Emailing your other colleagues doesn’t seem to work.
Emails go un-answered. And when there is a response, it is always a one liner “I’ll check for you….” and no reply from then on.
Calling your office doesn’t seem to work since either the broker is on the phone with someone else and will not call me back even after leaving my number. Or the broker is on holiday, or the broker is away on business trip, or the broker has left the organization and everything that he communicated to me earlier on is no longer valid…..
Weird that my collection of wines which I paid 6-figure amount to AWI does not make me a genuine investor who deserves a proper response through email.
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You paid a six figure amount for australian wine and you didn’t even check the value of it before you handed over the money??? Are you for real?
ReplyYes, i am a really dumb person who actually believed all that crap that was fed to me 3 years ago.
Looking back, the 1st broker committed anything under the sun (verbally only) to get the sales.
I also love wine, and didn’t mind collecting them, especially if it meant being able to sell them 3 years later or even much earlier (according to the 1st broker who said this was possible).
Now, he has run away to Premium Liquid Assets along with the 2nd broker, who also ran away to the same place. One of the 2 brokers actually wrote the article “Wine – A Palatable Investment”
ReplyHi,
this is actually not correct. I am in Shanghai now and we are very soon going to sign a long term historic agreement that will benefit all investors.
There will be a public announcement very soon of all the good news.
In the meantime any investors with any questions; please email me on; [email protected]
Thanks
ReplyThe open question remains whether there was really an auction of AWI clients’ wines in Shanghai on March 25, 2011 as previously communicated by AWI representatives.
The wordings “we are very soon going to sign a long term historic agreement that will benefit all investors.” could mean a million things other than “AWI WILL be auctioning off the wines for its clients on a specific date.”
In this statement, there is no SPECIFIC confirmation that the agreement is to auction AWI clients wines.
I would suggest AWI come up and give some numbers like…”In Shanghai International Commodities Auction on March 25, 2011, 5000 out of 6000 bottles of wines owned by AWI clients were successfully auction off at an estimated value of RMB XXXXXXXXXX. The 2006 XXXXXXX (1.5L) fetched a record price of RMB XXXXXXXX”.
AWI looks forward to the next auction on the Shanghai International Commodities Auction on XX September 2011 which will include more fine wines owned by its clients.”
Why bother about announcing news that is going to be happening in the future when people are interested about the outcome of the auction that just happened? We are all looking for results, not empty promises worded in ambiguity.
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Just advised that the auction in Shanghai is running into difficulties. Wines must be physically in China in order to auction and they must adher to the local labelling requirements. Disappointing.
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Actually, yes…. as expected. The sad thing is …. many still clinging to this ‘hope’… and worst, some even pour more good money after bad. Really sorry for these pple.
Really hope these pple will wake up …
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We are looking to purchase Grant Burge Meshach 2002 and Elderton Command Shiraz (Any Vintage). Please contact [email protected]
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I guess If Edward can claim that he has helped stacks of client to sell away their wine there would be a lot of people who will call him a liar.
I am sure these AWI guys are very eloquent in the way they handle their business. However knowing our system I hope for them and family sake they better stop their act if not they would probably end up in Jail. No body can insult the SG system and order without getting burn. I have confident in our system as we need to maintain our reputation as a safe place to invest and live.
I would believe that in time to come the more popular australian wine would find takers and you probably dont need AWI to sell it, no point letting them earn the commission.
What they are doing is buy time till the price of wine catch up in order to sell.
Hope by now there is sufficient people who knows about this scam to stop new investment.
It would be good to share in advance any public talk that AWI has and we can gather to publicly question them.
Well there are enough public avenue to blow up this issue, its a matter of time.
ReplyDear oh dear. Typical singaporean expects the government to come and save them from their bad investments. No one put a gun to your head and forced you to buy vastly overpriced wine. Thats your fault. Why do you think AWI targeted Singapore in particular? Because they know that people here are stupid enough to fall for their crap. Singapore is a safe place to invest and live, its just full of idiots who are stupid enough to give their money away without doing any background checks or research of their own. This is typical of a place like singapore where everyone’s wealth s relatively new. Everyone needs to impress each other by flaunting this new money. Thats why you see so many women here with the same louis vuitton handbag. Its all about showing off this new money and boasting about having an investment wine portfolio is another. Thats why you guys are so easy to sell to. AWI just needs to sell you the image and you cant write cheques fast enough. No one is going to jail, just do your research in future before you start writing cheques.
ReplyI supposed for many who have waited for years, this ChinaAuction thingy will give them some renewed hopes…but pls do not be so naive or gullible to buy more wines in order to participate on the sale.. …and pls do read your china auction contract carefully before signing….
GongXiFaCai.
Wishing all a healthy, happy and prosperous Rabbit Year.
Warmest rgds,
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Btw spoken to some wine exporter yesterday, they told me it’ll not go through because exporting to China need a lot of cert before you can export to China, also the tax is too high for those who buy aussie from AWI, so he expect the auction to go through. As for HK he told me, HK people not so keen on Aussie wine. So I think those who hoping for this auction to happen better start looking for alternative, just in case this really does not happened.
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Sometime in auction it is about sentiments, no one can be sure if is possible or impossible. At least now there’s a alternative to trade off our wines.
Just have to make sure that our wine remain in the warehouse till we receive the $$. So even it didn’t work out, we still have our wines. Just hoping for the best …
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Has anyone noticed that all of AWI’s offices overseas are ServCorp virtual offices ? The membership costs are dirt cheap to have a virtual office (ca $200 p/m)
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Hi
From the forum, it seems investing in french wines is much worthy of one’s $$ & time.. Anyone here has a positive experience with french wines investing? Any idea the value of a bottle of Chateau Lafite Rothschild 2005, 750ml now?
Thanx!
ReplyAny Chateau Lafite will cost you about 2K + and -. Because the rich chinese are buying.
ReplyIn auction there’s such thing as reserve price, if below that, it’ll not be sold. But the thing is that so many of people who bought aussie wines from AWI at a price something like 20-30% above market price and up till now the price still not moving up. If the sales show u some chart about price appreciation, it’s completely bullshit. You can do your own market survey, there are several merchants locally that sell aussie wines, alternative you can check online in Australia for price. Just in case you don’t know, whenever you buy online from any merchants in Australia, you can get about 10-20% discount for tax and etc and most of the merchants in Australia provide free freight to Singapore once you cross certain amount, mind you, the amount is not that hard to reach.
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Edward
If all the clients wines are not sold or sold at a lost during the auctions, i am sure u know what will happened.
We will lodge a police report on the guarantee that you and your company had given to us.
ReplyDear EW Yeo
thanks , but the black and white has got no disclaimer. NO company stamps , no signature at all.
If one day Edward is going to fly off from singapore or the company , the company will push all the blame to him, saying he is the one who guarantee me. This has happenned to me before , they push all the blame to the brokers that left and say that company has got no knowledge , or the company sack the brokers cos the found out that they have mislead the clients.
I am so stupid.
ReplyBring any letter in and we will company stamp it and have it signed by company MD
No more posts on here from me either contact me directly and i will help in any way i can.
HP; 96428124
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Hi Mr.Davison,
I have some questions regarding the online-auction in April 2011.
If I signed the documents, does it mean my wines will be on-hold in the warehouse until a suitable buyer willing to buy my wines?
Do I have the flexibility to take out the wines from warehouse if my wines remain unsold online after 3 months?
Hope you hear from soon soon.
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Company MD Mr Andrew Bassett? He can’t even honor a simple promise to return phone calls, for YEARS, what good is his signature?
ReplyEdward, can you explain why you are giving black and white, the letter you gave out has got no AWI company stamp on it and signature signed by the boss?
Are you trying to black me and all the invvestors that you gave out black and white?
ReplyTY,
Imho, there’s no such thing as sure made certain percentage of earning. Especially if you are talking about aussie wines. In the wine circle, it’s more like production and reputation. Even if Edward gave you a black and white, I’m sure there will be some disclaimer clauses attached. If you guys been following the wine news, you should know that even the top french makers does not guarantee certain amount of earning. Not even in auction, even if you asked famous auctioneer, John Kapon, from sothesby.
In term of aussie wines price, so far the only wine prices with appreciation value is the Penfolds Grange, even that, the value is never in the level of great french chateaux.
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Fyi: buyer pays auction house commission not the seller and its all in the contract that all march auction participants will receive tomorrow. The wine stays in Singapore until you have sold it in bond if the new buyer wishes we can transfer to bond in shanghai. If buyer pays transport cost. All legal documents will be sent to clients or are available to view at our office.
ReplyTrue, but the current price of the wine to all who buy from AWI already so ex. I doubt the chinese will bid for those, eg during a auction by DTZ on the wine by the now liquidated, there were tons of aussie like wild duck creeks remain un-bid for up till recently I still see them on the list. The problem with it, the wines were much high than the wines if I buy them from open market. As I said before the chinese are rich now but they are not stupi. They are more of the brand suckers, imho, Lafite buy w/o hesitation. Even Carraudes the 2nd label of Lafite had been speculated to a region where the price is now simply mad.
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Hahaha..
I agree with David Chong of AWI.
After so many years of discussing on this thread, those su*ckers still refused to believe they are suc*ers and have not banded together to do any form of legal redress..
They deserved to be scammed imho.
Replywhy not you post the content of the black and white for all to see (masked off personal details) for pple to see if the so called black and white holds water….
if possible, best to seek legal advice on this black and white…. proceed only if you are very comfortable.
good luck!
ReplyBtw I think all those hoping for the auction in Shanghai to go through need to know that Auction fee by Auction house like sotheby and christie are like 20+% if i remember correctly.
ReplyAll auction contracts are being sent out to clients this week.
Im really at a loss to understand why you all allow yourselves to be scared by the writings on here.
Most are by rival companies and ex brokers FYI
We put things in black and white so you can actually have trust and faith
As i have said so many times any actual AWI investor with genuine and real concerns please contact me at;
or HP; 96428124
Here is an press release that was in the Straits Times in December for all those that missed it; It is also on the Australian Wine Index website.
All these internet forums are doing is scaring of future purchasers of youre wine when you have fantastic investment wine with the correct paperwork attached that you actually own and is actually in Menlo in youre name and the company that you own it with is the first company in history to be doing fine wine investment auctions in mainland China. If you will allow it 2011 is going to be a fantastic year for all involved at AWI.
For Immediate Release
Press Release Source: Australian Wine Index (Singapore) on Tuesday, 7 Dec 2010, 13:00
World Exclusive
Shanghai International Commodity Auction (GUOPAI) Signs Joint Agreement with Australian Wine Index (Singapore), as the pioneer to hold fine wine auctions in Mainland China.
Shanghai, China – Shanghai International Commodity Auction Co. Ltd. has signed an joint agreement with Australian Wine Index (Singapore) Pte. Ltd. to operate fine wine auctions together.
“AWI is proud to be the first in company in history to hold fine wine auctions in Mainland China” said Mr. Andrew Basset, Director of Australian Wine Index (Singapore). “This will provide fine wine collectors in China, the venue and opportunity to start, and profit from their wine collection”.
Mr. Edward Davidson (AWI) will be the appointed Fine Wine Expert, who will lead Australian Wine Index, together with Shanghai International Commodity Auction Co. Ltd, as the pioneers to auction fine wine collections in Shanghai.
A Fine pedigree
Shanghai International Commodity Auction Co, Ltd. was established two decades ago in Shanghai, by approval of Commerce Ministry of China and Shanghai Municipal Government. It is one of first two auction houses that emerged after the Reform and Opening policies were implemented in China.
Since its establishment, GUOPAI organizes many auction activities that draw famous reputation in China – In March 2003, it sold a naming right by auction for a maglev train, the first commercial one in China. November of 2009 witnessed its honor to be the official auction partner of Expo 2010 Shanghai.
After the financial crisis in 1998, it liquidated and sold the most nonperforming assets by public auction.
http://www.alltobid.com/guopai/shexpo2010/expospecial/
Wine Expertise
Australian Wine Index (AWI) was established in 2000 in Sydney, Australia; In 2003 AWI relocated their HQ and became the first fine wine brokerage company in Singapore, opening to respond to the increased demand for fine wine in the Asia Pacific region.
Due to the long standing relations with the leading wineries, and vineyards in Australia, AWI are able to source the rarest, and most valuable wines for our clientele.
Our services encompass all aspects of fine wine collection — from due diligence when purchasing wine, logistics & provenance, to providing capital growth advice to investors who desire to profit from their wine collection.
AWI has achieved ISO9001:2008 certification, ensuring that we meet high standards of quality that are respected throughout the world. http://www.australianwineindex.com
Press contact :
Australian Wine Index Pte. Ltd., Singapore
Mr. David Chong, (65) 6327 8975
[email protected]
So why is this edward giving black and white, is he doing illegally?
what can i do with this black and white?
Go to police?
Go to MAS ?
CASE ?
Who else has got the black and white here? please advice.
ReplyPls dun be so naive… if they can sell, they would have sold long time ago.. without anyone having to buy to build up their so called portfolio….
they can do a consolidated of the wine and auction, and there are pple to have sunk in 6digits amount and couldn’t have their wine sold…
i think it is time to wake up…. else, you will be throwing more good money after bad…
what is this black and white that you will be purchasing the wine 35% lower than market value…. who market value are they talking about??
Are you happy with just able to buy below 35% market value? What about selling?? profit in paper is useless unless you can sell your wine…. if they are so ‘big’ in this biz and they cannot really sell to the market….. can you?? so wat is they send you valuation reports that your wine has grown to 200%??
I have recvd valuation reports showing 20 -40% profit…when asked them to sell, they cannot sell …. even when i told them to sell even at 20% loss….
so you believe their valuations?? good luck to you.
ReplyYes , they will give me Black and white , saying that I have purchased the wine 35% lower then market value, which mean I make 35%.
You are right , if it is that good , why not they keep the wine for their own profit. OK James , thanks
ReplyDon’t believe in such thing lah…I been buying en primeur since 03, except for the few 1st growth, seldom the wines jump up 35% also this 35% jump what if you wanna take it out from bonding warehouse? what are the charges?
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black & white?? then get a lawyer advice –
35% guaranteed?? I’m sure if it is that good, you would not be the first to be contacted
I was being call up by the so call”christie fine wine graduate”, tell me my portfolio is not complete and if i want to go for auction , i have to buy some more wines so that they will then be able to send them for auction in shanghai.
He even told me that my purchase will be sitting at 35% guarantee returns and also willing to give me in black and white.
Can someone here please advice me on that , should i go ahead and buy from him ?
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Dropped a couple of emails to them to find out more about the Shanghai auction. But so far still no reply (as usual).
Not sure if it is possible for those of us who doesn’t has a “complete portfolio” to pool together for the coming auction?
Anyone here has so far been successful in “registering” for the coming auction?
Most of the cases in this thread have been incomplete portfolios and buy more….something to ponder…
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Did any of you visit AWI before investing? I work nearby and see these clowns outside smoking all the time and they look like scoundrels to me reminding me very much of the boiler rooms selling penny stocks to unwary customers….
A repeat of Profitable Plots perhaps???
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anyone got any idea????
Justirina on January 7th, 2011 at 10:52 am
http://www.martinlee.sg/uag-wine-buyback-gone-sour/
heard another company now doing the same thing here . Becareful
ReplyUAG closed down long ago, recently some of their wines got auctioned off by DTZ, I went. Lot of the Aussie remained unsold, if I remember correctly, Penfolds most of it gone, but lot of some others still on the list when the DTZ broker email me about a week later.
ReplySeriously I was looking at some the portfolios here, getting the wines out and drink is not a bad option but most of the wines after all the taxes and etc, it’s a lot more than local merchants, so don’t even think of selling to local merchants. One option I can tell you guys, look on the web for http://www.wineexchangeasia.com, look for robert rees, he got some connection in HK if u sell to HK but be prepared to make a lost, but because most of the wines are in bonding warehouses at least you don’t have to pay the taxes. Fyi, WEA also charges a 10% commission from the seller. Perhaps you can go talk to him.
Replyone way that is least hassle is to drink em all….
otherwise, sell them a discount to those wine shops… but you will have to pay tax + gst in the shops are singapore….
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There is an online wine trading/auction service available in Singapore too called Bid for Wine.
More information about selling wine on our online trading platform can be found here:
https://www.bidforwine.sg/help/site/selling
Do drop me an email at [email protected] if you need more information.
http://www.bidforwine.sg
http://www.bidforwine.co.uk
Not forgetting there are other cost involved, I need to pay another cut to the auction house for the sales of my wines too.
Mr Yeo , you are right , the chinese are rich but they are not stupid.
Is there any other way I can get ride of my wines?
ReplyIMHO, the auction in Shanghai will not work, as the Chinese are more into the French top labels like Lafite and Carruades de Lafite. Furthermore all these aussie labels, I feel most of the people here got it too expensive, something like 20% above mkt value, the chinese are rich but they are not stupid.
ReplyAWI auction will not work. who is crazy enough to pay so much money buying oz wine. Not forgetting taxes for your wines to china is 48%. MAD
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Hi all investors,
I’m also an investor since 2006, I am taking action towards Australian Wine Index and need to gather more information.
Those which wish to share your information with me, please kindly email me [email protected].
Do drop me a email first, i will arrange for all investors who want to take action to meet up. Forgive me if response is slow, I’m also a very busy workerholic.
Although I have lost hope of recovery my 80K. I would want action to be taken.
ReplyAnyone receive confirmation on the coming March 2011 Shanghai Auction? Is the Auction really taking place? Anyone got any inside secret info from AWI?
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alvin lim is in prison for drug possession…call the singapore prison department..
this new guy edward is guaranteeing 100% return on investment from an auction in shanghai in march 2011?…hahahaha…what was the name of the wine investment company in SG that guaranteed a buy out in 2009?…then closed their doors and left with all the investors $$$ in 2010
AWI will 100% be shutting its doors in march 2011 and running away with all that $$$ if edward is guaranteeing 100% return…
how can he guarantee 100% return to clients that haven’t been able to get a negative 50% on wines they bought 7 years ago?
Christie’s, Sotheby, Llyods have NEVER heard of AWI…never will because AWI will never sell ANY wine for ANY client…why u ask – AWI DOES NOT MAKE ANY PROFIT WHEN A CLIENT SELLS…and that is why NO CLIENT has, or ever will sell!!
Sure, some clients have been told their wine was “sold” and received some money back, but their wine was not sold…awi just bought the wine back and sold it to other clients!
in sept of this year, andrew basset hired an american who studied accounting in university…within two weeks of starting at the company, andrew basset showed this new hire the awi accounting books and asked him to “fix” the numbers to make awi look better…
I cannot wait until this company is SHUT DOWN!!!!!!!!!
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all pls pay tax and bring home your wine. you be surprise that they might not even have your wine in physical stock
i m an investor in AWM and though my wine is in the warehouse, i cant pay tax and bring the wine home to drink coz AWM closed shop. the owner just turn off the HP is enough for all to lose all your $$$$$$$$
good luck to all
ReplyDon’t invest in Aussie wines lah.
1) AWI sell them too high to begin with.
2) Australia wine production so high, so not much speculation.
Anyway I know 3 friends who invested in AWI, up till now not a single bottle of their wines are sold.
One of them tried calling them up, asking them to sell, the broker told him some crap story about because he does not owned a vertical series of the wines hence cannot sell. Then he decide to sell him some other wines from another winery. He called this vertical, apparently either the broker know nuts about wines or he’s trying to cheat my friend to buy more again.
Anyway I already told my friend pay for the GST and tax. Ask AWI to deliver the wines. If they cannot delivered, SUE them.
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How many investors actually have portfolios that are “up to mark” and ready for auction without being asked to invest in more wines? I wonder…
(Delayed, patronized, ignored by AWI, since 2007)
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I guess I am just adding to the long list of disgruntled investors with AWI. I have recently requested for liquidation of some of my holdings and was told that my portfolio was not upto the mark and would require further investment to make the grade in an auction in Shanghai in March. I have asked for more info on the auction but was just told the date and that it would happen right after a polo match.
Anyway, can all of us pool up and manage our own affairs as one ? Maybe some of us have the experience to get this up into auctions ourselves. Just an idea.
ReplyPlease stop trying to scare people
The auctions are happening all contracts and paperwork are in the office for all to see and many many clients have already seen them.
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And who is paying for the export and import duty transfering these wines to China? Who is paying for the shipping of all this wine and the storage when it reaches China? Is this what AWI has been saving their vast inflated profits to cover out their own pocket? And who is going to buy wine that have been sold at twice the price its available for online at an even higher profit? We all know Singaporeans are a bit stupid. Do you really expect the Chinese to be even stupider?
Replymany client have already seen them? Even more could see that AWI could not sell their wines for yrs… and that lousy excuse that ‘oh, you need to buy more to build your portfolio so that we can put your wine out at the auction… “, wtf, there are pple with > 1000 bottles stuck with wine for yrs… is that small?
if it is small, then make it clear out front… tell pple, your wine will only be in auction if you buy more than 10000 bottles…. if that put across and pple still buy, i am sure no one will complain…
Sooner or later, justice will catch up on these pple…. let’s see.
ReplyDear Edward,
u mean you and company only working hard this weekend? I have requested to sell the wine since 2008!! And know of many recently that have requested since 2006!!
If you have forgotten or did not register in your head, all of the investors worked hard for the money invested in the Wine too. Many many weekends burnt too. NOT just this weekend. IF you are working hard, you SHOULD NOT BE POSTING in this forum.
“But i will and i am doing everything i can to sell AWI clients portfolios on a daily basis .” – this is so familar, i think i heard it from one of your colleague some time back. Is this a SOP for all AWIs??
hmm… “AWI now has more people working to sell youre wine than to sell you wine FYI” – You mean when AWI sold us wine, there is not enough pple selling our wine when we want too?? No exit strategies?? Where have all those wine brokers gone to??
I have spoken to many investors whose wine were stuck since 2004!! we are not talking about the last 3 yrs… And you yourself should stop blaming the economy for AWI not able to sell any wine… Dow has gone back to pre-crash… ARE YOU SAYING WINE IS A BAD INVESTMENT NOW??!!
ReplyI think most investors would agree that our confidence in AWI has been greatly shaken by years of poor customer service and lack of responsiveness from the top management of AWI. Everyone knows that there are risks and uncertainties in investment and everyone knows that we have been in recession.
But what has repeatedly undermined AWI’s credibility has nothing to do with market forces, but how the the company has patronized, or outrightly ignored angry and anxious investors. Coupled with that are valuation reports that absolutely do not reflect the real values of the wines in the market.
To Edward and Andrew (who has conveniently remained silent), this is not about pep talks to get investors to be positive, it’s about you guys working as hard as you need to earn your credibility. And frankly, thanks for working weekends but using that to prove that the company is trustworthy, is unprofessional and again, patronizing.
The investors are disgruntled. It sucks that you work weekend. The burden of proof, unfortunately, is on you.
ReplyThey’re not working weekends you complete moron. They’re spending your money on weekend trips to Thailand and Bali.
Has anyone who received this mass email replied to all warning everyone else that you are not getting your money back? Use this tool that AWI gave you to warn as many others that you are not getting your money back.
I have just replied to everyone else on the list telling them not to give AWI another cent of their hard earned cash. This is a dud investment. Time for you all to start admitting it to yourselves.
ReplyI drank up my wine.
Just eating my popcorn and watching the drama unfold.
And yes, some email action is already happening.
Hi,
Look its Sunday afternoon and my team and I are in the AWI office working hard , we were here until 11 last night as well.
I agree talk is cheap so i will keep this short
If you want youre wines sold and are actual AWI investors please email me youre client number to : [email protected]
Im not prepared to do business on a forum such as this
But i will and i am doing everything i can to sell AWI clients portfolios on a daily basis .
AWI is going nowhere and will be in Asia for many years to come..the wine is investment wine ( a lot of the value is in how it has been transported, stored, provenance etc ) against same wines you may find at lesser price..its here in Singapore in the clients name, it belongs to the clients they can withdraw it at any time and storage and insurance is all paid.
I know for some the investment cycle has been longer than expected and apologies but you cant blame everything thats happened in the world in the last three years on AWI.
Now is the best time to sell this wine,China wine market is booming and AWI have signed contracts that they are first company to hold fine wine investment auctions in main land China. The first will be March 25th next year and you will be able to view auction online also from early february.
AWI now has more people working to sell youre wine than to sell you wine FYI
So lets all be positive and lets sell the wine and complete the cycle…………then none of us will need to work weekends !!!!!!
Best
Edward
[email protected]
96428124
I have heard the portfolio is not complete sh@t before. Do NOT put any $ in. If mr edward is that good (so what it is Christie, Lehman collapse and charged for fraud…. Big name no longer works). Sell our wines and we will post the proof.
ReplyFor those organizing actions, I invested in 2003. Please contact me [email protected]
ReplyTo Mr E. Davison
I guess some of us were outraged by the recent mass email mistakenly addressed to all by your staff – subject “Good News” which most would find NOT good at all!
I need actions to sell my wines proving they can be sold at a profit! I doubt it can even sell it at breakeven!
I will post sales invoices and cheque scans here to prove so if you can do so to dispel all the negative postings here!
So far most of us have words from AWI BUT NO ACTIONS!
I think AWI can run this far and to convince others this is viable investment, AWI need to prove it. There are very selected few would benefitted and generate “good news” like Mr Curtis from WallStraits.com
I invested in 2003 and have only managed to sell 1 case of 12 bottles for almost breakeven! Yes, I was naive back then. Reassurance by words is meaningless after 7 years.
You can start by helping to call your earliest clients and show us what you can do to help them! Some have their substantial life savings in it (I guess it does not bother AWI management just like wall street bankers)
I’ll really like to find hope in you, Edward. Honestly. But I not find much faith in people since the financial crisis and AWI experience. I hope you can help all of us and of course we understand it takes time, even a few months.
Thanks for coming onto this forum, it is a good start! We will like to hear about your plans!
If you find it RIDICULOUS, I had find it 10 times more RIDICULOUS for been in this for 7 YEARS.
Surprisingly it is very easy to google and find this forum.
– the despaired one
Hi Everyone look this is obviously total rubbish AWI is not a listed company etc our lawyers are looking into it Gateway Law Corporation
We will be posting a warning on our website about this
If anyone is called up asking to buy shares DO NOT
My HP; 96428124
If anyone needs reassurance
Best
Edward
[email protected]
Who would pay two times the value for a company that has been selling wine at two times its value? Just a ridiculous ploy to get scared investors to sign a non disclosure agreement to shut them up.
ReplyWhat is the meaning of this?
Is it a good news for wine investors in Singapore?
There is no good news for wine investors in Singapore. You have all purchased wine at an inflated price which is going to be difficult to sell at a reduced price as so much has flooded such a small market.
Either sell it at a loss or take it home and drink it. You are not EVER going to make your money back so stop deluding yourselves.
You have been sold wine at a ridiculous price by sad little people who can only make a living in this world by lying to honest hard working people. The best thing you can do is distance yourself from this scum and tell everyone you know to do the same.
ReplyHi all investors,
I’m also an investor since 2006, I am taking action towards Australian Wine Index and need to gather more information.
Those which wish to share your information with me, please kindly email me [email protected].
Do drop me a email first, i will arrange for all investors who want to take action to meet up. Forgive me if response is slow, I’m also a very busy workerholic.
Although I have lost hope of recovery my 80K. I would want action to be taken.
Reply
Edward, you should email every single one of AWI clients your so call “paper work” and “contract”for the auction rather then asking us to go to AWI office to see them. The next time I would ever steps into AWI office will be collecting my money.
Reply
Dear all
My advice to all owners is to
1st TRY to get all your wine out before it’s all gone……
Then TRY ways to dispose it at minimal loss…..
Rather then TRY sitting in front of your computer/laptop EVERYDAY TRYING to get answer in this blog…
Just my 2 cents worth…
ReplyIf anyone wishes to contact me seriously email ; [email protected]
Or come in the office the first auction is march 25th you’re welcome to come in and see contracts , paper work etc
ReplyHi Edward,
A businessman should keep his promise. I’ll send you the client # via email. Please send the paper work or contract to me. I’ll sign it and send it back to you.
I believe you could settle the paper work in DEC 2010 and all the investors will look forward to the Auction March 2011 with an open heart. Early preparation is better than last minute preparation. Good time management is essential for success in business. Do you agree?
I believe you are very busy with your work. Hence, I suggest you get a dedicated personnel to handle all these paper works or contracts. The investor just need to email or call this person regarding the Auction Mar 2011. I believe this paper work is very straight forwards. It just for us to read and sign and for your side to keep. The terms and conditions should be universal for all the investors since all of them are putting their wines on the same auction table.
I hope I get email reply from you this time. 🙂
ReplyDear All
DO NOT pour in more money. You guys should learn your lesson well enough. I have learned mine. They tried calling me to top up more money into wines, saying my portfolio will not be complete and will not be able to sell in “auction”, guys this is not the first time they do this.Edward is just using Christie’s name to make himself look good.
I have trusted AWI with all my money, my wife is going crazy soon as more then 3 years, not even a bottle of wines were sold.
Andrew is just trying to disappeared and pushing from 1 trading manager to the next one. I have infact gone through andrew, david and now this Edward trying to be smart ass.
Edward can you please apologised to everyone here about your comments, is this the way you were trained in so call auction house graduate?
It is a shame on you Edward to made that remarks.
Reply
Edward,
Until you can prove some success in your so called “Shanghai Auction”, please refrain from being loud mouth calling names and making rude remarks.
Against the millions of dollars invested here, how much interest have you got vested here! If you failed in Feb/Mar, you are just an air ticket away and you will probably disappeared overnight in thin air without a trace. So at this point of time, what right have you got to call investors “rude paranoid people”? I hope you re not getting neurotic too soon, as you have given too much “hope” to all the AWI investor here. We are waiting patiently to see your result.
Can you also answer to Tay on the need to top up another 100 bottles of wine at 33KSGD, against the market price of $200 per bottle. I give you a chance to explain to everyone here, else you will loose your credibility.
Christie is a reputable auction house and it doesn’t mean that Edward in AWI will be as reputable or as effective as Christie. Edward, we would like to trust you and see you succeed with your auction plan. It means that all investors will get to unload their investment. But please, all these action of topping wine and throwing good money into already a bad investment to date really make us ponder on what you have up your sleeve.
ReplyYet again I am appalled by what you rude paranoid people are writing on here. I am in the office, I have a letter from Christies stating my career with them, contact them directly if you so wish. I’m working with a huge amount of clients on a daily basis. Some portfolios need work , some are correct and are just being put straight in the auction. I have to advise both seller and buyer correctly. The auctions are happening its a done deal. AWI will be around having great success for many many years to come.
There have been problems yes but we are working 7 days a week around the clock to solve these .
I will say it again if you have a problem or a question contact me direct at: [email protected]
Date, name and address, contact details of auction house will be made public next week FYI the only reason I have not so far is because of ridiculous stuff like this.
ReplyYes, I’m appalled too. Andrew Bassett didn’t respond to my request to sell for 3 fricking years. I have never seen him on this forum telling us how appalled he is.
ReplyHi Edward,
Could you or your trading manager send us email update on the shanghai Auction? If you don’t like to use email, you may use facebook group.
I sent numerous emails to your trading manager and you, but no reply. I would like to know the reserve price of my wines on the auction table. I would like to know if there is any webpage on the auction.
I just need some update and hope on unloading the wines. Please understand.
Reply
I write a blog on the wine scene and wines available in Singapore.
I am also extremely disappointed with the “wine investment” scene in Singapore…
Read my comments at….
http://winedragon.blogspot.com/2010/07/wine-news-asset-wine-management-fiasco.html
http://winedragon.blogspot.com/2009/08/wine-news-wine-investors-worried-after.html
A friend that I knew finally got back his $ after 5-6 years…at a loss…
“If it seems too good to be true, it probably is.” Warren Buffett
Reply“The two investment companies are being investigated by police after their clients complained to CASE about allegedly suspicious practices.”
I’ll file a complaint to CASE.
ReplySo now you are saying they are investment companies. Yesterday you said it was a consumer issue. Make your mind up!
ReplyHi,
CAD will be another choice as UAG, another wine investment co. running a similar operation in Singapore, is in liquidation already due to compliant to CAD.
Doulos
Reply
but can anyone verify which auction house they using ? can someone verify if anyone has given the auction house a call ?
ReplyLets give Edward of AWI a chance to carry out the auction in Shanghai and see if it is going to be a success.
As I have already waited for more than 4 years, I will wait for a few more months to see if this is for real.
Meanwhile, I will never commit any more money given the uncertainty.
Cheers!
ReplyHi,
So are you going for the auction in Feb 2011 as indicated by AWI? And did Edward propose to you a top up to complete your portfolio? Thanks.
Regards,
Caleb
So, the next big thing is Shanghai Auction Feb2011.
Anyone would like to share something about it?
How to put your wines on the auction table? What is the process?
Were u not invited by AWI to go for the auction? Email me then at [email protected], I would like to meet up all frustrated AWI investor like myself. Thanks.
Reply
I met with Edward Davidson on Nov 23rd morning on auctioning my wine. He claimed to be a Fine Wine Expert and Cataloguer for AWI and not a wine broker. Claimed he was trained in Christie Auction House on Fine Wines and has worked for a few reputable auction houses before joining AWI. He claimed he had done due diligent check on AWI and find them of excellent character and reputation before joining them in their Asia operations. He reassured me that I am in fine hands with AWI.
He browsed through my portfolio and complimented I have a good portfolio but my portfolio is not complete without a 2005 vintage. As such my portfolio is not auctionable however excellent the portfolio is. Something which I still don’t understand!!! He said auction gives the best return and is confident based on his experience I shall get at least 100% return from the auction in Shanghai in Mar 2011. But I need at least min. 1 lot (100 bottles) of 2005 to complete. When asked why my broker did not make the recommendation earlier when it is so important and asked to see my broker, Alvin. He could not explained and said Alvin is out-stationed and will only return Mar 2011. I find the whole thing fishy when he said I was lucky Menlo warehouse made a mistake and order 100 bottles of a 2005 vintage a few months back. I can have it at a big discount of S$33K to complete my portfolio for auction. He even give me a written guarantee that I will get my money back if the auction did niot happen or my wines could not sell at the auction. Now, he sounded more like a regular aales guy.
I suspect they may close Singapore operation Mar/Apr 2011 with all the negative publicity. Btw, the 2005 wine current price in market is about S$200/bte and their big discount is at S$330/bte! I hope we can all do someting to put this company out of business.
ReplyLet’s put it this way, ANYONE who can claim that AWI is of excellent character and reputation, is either in denial, lying, or has been lied to. ED must not have read this forum before he joined AWI Asia Operation.
Menlo is a WAREHOUSE! What in the world is a WAREHOUSE doing ordering 100 bottles of wine? No. Investors buy wines, drinkers buy wines, WAREHOUSES do NOT buy wines.
I took my wines out of Menlo and popped the bottles myself – easiest and quickest way to put an end to my misery.
ReplyHi Kurious,
I want to know when you took out of your wines, did you pay any charges? GST?
Hi Ann
Yes, GST and alcohol duty. I think I paid roughly $14 per bottle. The warehouse also provides delivery service with a fee. Do store the wines properly after taking them out of the cellar. 🙂
Good luck.
Hi Tay,
so you don’t have any 2005 collection? I have one 2005 collection but Edward told me is not enough to complete my portfolio. He offered me the same wine at $330 and told me I need top up 60 bottles. So that means only 1 of us will “qualify” for the auction since there’s only 100 bottles for so many clients.
This only add up to only 1 conclusion. Yes, we need to do something but lets keep in contact 1st. My email is [email protected]. You may also want to visit the forum setup by Angry Mr Tan had previous at http://www.facebook.com/pages/why-wont-Australian-Wine-Index-Singapore-try-to-sell-my-wines/111957718835318?ref=ts and also the group by Sci at http://www.facebook.com/group.php?gid=123388134340463
Replyalvin lim is in prison for drug possession…call the singapore prison department..
this new guy edward is guaranteeing 100% return on investment from an auction in shanghai in march 2011?…hahahaha…what was the name of the wine investment company in SG that guaranteed a buy out in 2009?…then closed their doors and left with all the investors $$$ in 2010
AWI will 100% be shutting its doors in march 2011 and running away with all that $$$ if edward is guaranteeing 100% return…
how can he guarantee 100% return to clients that haven’t been able to get a negative 50% on wines they bought 7 years ago?
Christie’s, Sotheby, Llyods have NEVER heard of AWI…never will because AWI will never sell ANY wine for ANY client…why u ask – AWI DOES NOT MAKE ANY PROFIT WHEN A CLIENT SELLS…and that is why NO CLIENT has, or ever will sell!!
Sure, some clients have been told their wine was “sold” and received some money back, but their wine was not sold…awi just bought the wine back and sold it to other clients!
in sept of this year, andrew basset hired an american who studied accounting in university…within two weeks of starting at the company, andrew basset showed this new hire the awi accounting books and asked him to “fix” the numbers to make awi look better…
I cannot wait until this company is SHUT DOWN!!!!!!!!!
Reply
If we could, everyone would have done it.
CASE does not handle:-
Speculation in shares, stocks, commodities, investments
* If you are an investor and have dealings in shares, stocks etc. These are not consumer issues.
ReplyThe point here is AWI uses the name of investment to sell consumer items.
I believe many AWI customers end up consuming the wine themselves. No doubt the item bought are consumer item.
There is no investment involved. This is definitely consumer issue.
ReplyYou’re just kidding yourself. You were all buying wine as an investment. It just so happens this is an investment you can physically consume. Anyway, if it is a consumer issue, whats the actual issue? AWI offered to sell you wine at a specific price. It delivered on that promise. Its not their fault you didn’t check the value of the product before handing over your money!
Whether you let it sit in a warehouse till it goes bad or choose to drink it is your choice. CASE dont care what you do with the product you were sold at the price you agreed to pay for it.
Stop blaming others for your own stupidity.
I would like to ask if anyone file a complaint with CASE (singapore).
http://www.case.org.sg/online_complaint.html
If yes, please share the outcome.
Replyask for the telephone number.
Which auction house they using?
Call the auction house to verify.This will be the way to proof if it is another crap.
Not for me. A guy called David Boulton emailed me and claim there will be some acution in 2011 1Q but no exact timeframe.
Reply
Did he say your wines are in the auction?
If yes, who will pay for the freight charge to the auction house?
I heard that Edward is sending out proposal to investors for liquidating in Shanghai auction. Has anyone received it?
Reply
Do you receive it?
I kept sending them email asking for liquidation, but no reply.
i am so surprised why AWI is still active in the open publicity??First i saw them was on a big investment conference held in Citihall convention center. That is why i trust them at first due to this big event….I really do not know why they are out in the open since the Company is a scam….
Reply
Hey, anyone meet AWI guys? Appreciate for some feedback to share as I am not based in Singapore.
Ken
Reply
So, all the tough talk and no one ever goes to see them at these functions do they? Conventions, expos, wine tastings, etc. They’re out in the open! Mr. Davison offer open invite, and no one goes and says a word? If anyone did, please share. Not the excuse for why you couldn’t make it. Stop talk tough and take action, or go to menlo and start drinking!
Reply
Hi,
Anybody went to meet Edward of AWI yesterday? Please share the outcome. thks.
ReplyNo matter what , I want my money > Its been 4 years since I ask for liquidation.
ReplyI am outstation and will be back on Tuesday. Please share the action but don’t get yourself committed into more wines.
Cheers!
ReplyHi Sci, Tom and Absolutely Wrong Investement,
Please share with the rest of the AWI investors on the outcome of tomorrow’s meeting with Edward. thks a lot.
ReplySo Tom and Absolutely Wrong Investement are going to see Edward Davison on this coming Monday evening?
Anyone else going? Dave, Sci, Micheal, Caleb ???
ReplyWe may look silly to “throw” our hard earned $$ into such a scam. However, it’s not helpful either to sit behind the laptop.. If our initial objective is to make life better, we should persist & not leave things to fate now!
It’s certainly an opportunity for us to meet up & work our way out i.e either with AWI or among ourselves. The choice is with AWI to cut the crap tomorrow & make a reasonable offer to us. So, hope to see you all there.
To Edward Davison of AWI
We’re all educated grown-ups & don’t try wasting our time anymore to sweet talk us. Make it short tomorrow as all WE WANT is ACTION!!
Sci
ReplyMy advice to you all is this. Firstly, stop buying wine form AWI unless you want to boast to your friends you have an investment wine portfolio and enjoy throwing away money.
Secondly check the retail price online for the wines you have purchased in your portfolio. Make sure you check the price for a case not individual bottles of you will selling it off for years.
This will give you a approximate estimation to the REAL value of your wine.
Then you have two choices. Either you can pull it out of storage and drink it, or you can find someone to sell it for you. If you do this do not take it out of storage first or it will lose value as you cannot prove the conditions it is stored in or the cellaring history.
I myself am not involved int he wine industry although I will speak to a colleague of mine who may be able to provide more details on how to minimize any loss.
ReplyYou said :”you can find someone to sell it for you.”
Please provide us the contact. I’m ever ready to sell.
hi dave,
I might have interest in your wines. You can reach me at [email protected].
Reply
Sunshine Empire;
Wine at jacked-up prices;
Green belt land in Land banking;
All the legitimate ZERO SUM schemes where :
WINNERS + AGENTS = LOSERS
QE2;
This is a dangerous world with shrinking world currencies and likelihood of high inflation.
Find a shelter, look for something permanent.
Are Andrew Bassett and Alvin Lin really in prison?
Are they jailed because of this AWI bullshit?
Can anyone verify this?
Now, how do we get AWI to buy back all our wines?
Guess I must go meet this new MD next Monday evening to minimize loss.
How can someone get jailed for selling wine? If anyone should be jailed it should be the people who bought wine over the phone for twice its actual value without doing any investigating of their own first!
No one is going to jail over this. No one is going to compensate you for the vastly overpriced wine you have all bought. Cut your losses and move on with your lives.
Hi Octopus,
Could you advise us how to cut losses?
Where to get buyers? Do you have any contact?
Dave
My company has been helping many people to sell their wines. You can reach me at [email protected]
ReplyDo you really think AWI will buy back your wines?
As far as I know, they are wine broker, not wine merchant.
I’m not free Monday night. Hope you could update us on wines buying back. Thanks!
Hector,
Suggest you focus on your studies. Try to solve it when you are back.
Good Luck
Reply
i have apparently emailed my new broker, and he would so-called ‘revert’ back to me by early next week(examinations). I would cross my fingers whether would he be so helpful in doing so? if i can get it off, i would praise the gods, if not then i would be relying on wineechangeasia to offload for me; albeit, at a greater loss i’d reckoned. i would seriously need to liquidate my monies as some exigencies cropped up during my studies, and i would need some funds to tide over. leaving me with no choice to hound AWI to close off my positions with them. Hope everything goes well!
ReplyHector,
don’t hope too much. My experience, they will either come back with excuses or take more than 3 months to trade off one and if lucky 2 of your wine. Never expect them to trade off all as there’re too many client stucked with them. Is best you go down to speak with them face to face.
All the best …
ReplyThen i would practically be stuck with them perpetually then… i cannot meet them face-to-face as i would be not making my trip back home this summer. It’s going to be a long road ahead i’d reckoned. Any other advice/solution for my predicament then?
ReplyAfter trying wine investment, then I know is not so liquid as advertise or shown on TV and investment programme. This is a waiting game, you just have to hold and wait. It had been 5 yrs for me.
Reply
It had been 5 yrs.
Who pay for the storage after 3 years?
Do you continue to pay for insurance?
Are you in the process of finding buyers?
In my opinion, if there is no buyers, there will be no return.
Not only that but after a certain period of time (5 years or so) some of those wines will be past their best and decrease further in value.
ReplyHi Hector,
Buying wines from AWI is no difference from buying wines from cold storage or 7-eleven.
Do you see any terms and conditions in your receipt?
ReplyI have the receipt with me and it mentions the amount paid for this consignment of goods. So it should be duly bought under my name. It was issued with the company letterhead and broker-in-charge. So i am sure that this batches of wine are under my name. The question now would be to ask AWI to trade off my position or rely on a third party seller like wineexchangeasia to do it for me? any words of advice? or like what the rest of the people in this forum would do, confront the edward davidson the new MD to buy back all our portfolio. The difficulty i would face, if i were to trade off my wine. would there be any requirement to sign off anything documents? As i am presently in australia studying, the workflow would seemed to be more hassled than -less. Hope that you guys could shed some light on this matter thank you.
ReplyYes it is. You pay less money for the same wine at cold storage!
ReplyGuys, i have invested a $20k portfolio with AWI since March 2010, promising lucrative returns. After looking at this blog this late in stage; i feel that all hope is lost for my hard-earned monies. Would there be anything left to salvage/damage control?
ReplyHector,
Did they give their promised return in writing? If so, it could be useful evident of any misrepresentation later on.
My suggestion:
1. Since the 3 yrs of storage is already paid for, just hold on to it and look for opportunity to sell it off. Try pestering AWI to liquidate if you have time and patience to spare. But note that there is always a risk of them convincing you to invest more.
2. Remember, do not throw anymore good money to build up the portfolio else the regret will deepen – my view.
3. Make sure that the title of the wine is transferred to you – I have seen some of these wine brokers disappearing and the agony of the investors trying to proof their ownership.
4. Don’t think there is more you can do but you may want to warn your friends about the pitfalls in this type of investment and the difficulty of liquidating your investment. As least they will be grateful to you.
Personally, I am glad that I have saved at least a dozen friends from such pitfalls. I hope many more potential targets of this wine investment broker will be saved and be safe.
Good luck!
Replymartin, as for the promised returns, it was verbally quoted to me by my broker. Which seemed to have vanished from thin air altogether. Since the day i have brought the wine from him, his superior alvin lim informed me he had a tussle with his superiors and was asked to momentarily get a break. Soon after when i wanted to get back to him. My broker was reassigned to another – guessing Caucasian(charlie seddon). Abrupt maybe… but after looking at the post in this forum, expected the unexpected! I woul try to liquidate my position asap with minimal losses i’d hoped. The title of the wine, may i know what is it? i have only got my menlo logistics storage certificate and insurance for the wine. No other pertaining documents. I have gotten into contact with robert from wineexchangeasia to seek some form of salvaging. out of $20k, i am not sure of how much would i lose from it? Even though AWI is one of the display booth in SMART expo, their background is still conspicuous how amazing… alas, what can be done now is to follow what you guys recommend. Don’t allow others to fall prey… Any other sound advice to pass?
ReplyAnyone going down to meet Edward Davison?
Btw, anyone knows whether Alvin Lim and Andrew Bassett are still with AWI?
ok i really do have better things to do than deal with a lot of bloggers who are happy to write mainly rubbish on this site but actually when it comes to contacting me by phone or email dont.
This is last time i will post on here my email and phone number are there if you have a genuine problem regarding AWI PLEASE contact me and i will do whatrever i can to resolve it. Using my experience I learnt working at Christies and doing there Fine Wine Course !!!
But in a gesture of goodwill i would like to invite all and any unhappy or happy persons on this site to a glass (or more) of wine and some nibbles paid for by me this Monday the 8 the Nov at 6.30 pm at Ricciotti -3 Pickering Street #01-36, Nankin Row
China Square Central
Singapore
We can then discuss all and any problems in an adult and civil manner instead of hiding behind words on a blog.
I really am working very hard and to the best of my abilities to resolve all and any portfolio / selling problems and am extremely confoident this will happen soon
No more words from me on here see you Monday or Email or phone me. Thanks
ReplyEdward,
Please be more civilized in using your words. How can you called us former investors of AWI as “bloggers who are happy to write mainly rubbish. After talking to you did not come back as promised! Most of the investors here are sharing their experience and certainly not writing rubbish!
I challenge to provide you with all evidents to prove that generally it is factual and in return, you commit to buy back all my wines with the AWI promised return of 12%! I will give you a discount here, just 6% would do.
Also be ready to accept all AWI investors who are prepared to take up this challenge with you.
We will appoint an arbitrator from Singapore International Arbitration Centre and his cost will be shared equally by you and the investors.
Since you continue to be extremely optimistic and all my 20+ batch of wine are bought more than 3 years ago, it meets all your criteria to liquidate. So you should have no doubt in my portfolio.
Do you accept this challenge?
Thanks to response.
ReplyDear Edward
Please removed your title as you indicated in your email ” Christie Fine Wine Course Graduate”, it means nothing, dont try to use this to lie.
ReplyEdward of AWI,
Care to comment on this from Grahamon?
“grahamon 29 Oct 2010 at 8:08 pm
Hi, I’ve invested with AWI since 2004 and haven’t been able to sell my fairly substantial wine portfolio. I have the same bad experience as the rest of you. Actually, I have not heard from the AWI people for a long while until recently.
A broker and a new director (Edward Davidson) have been calling me few times a day.
They promised to sell my entire wine portfolio at an auction in China next year on the condition that I purchase MORE wine from them
– anamorphosis rated RPJ 99 at SGD$330 per bottle. I searched the internet and saw that this wine was sold online at only USD$129. Much as I wish to have my wines sold at the auction, I don’t know if I should trust them again… Any advice or similar experience??
ReplyEdward of AWI,
Care to comment on this from Grahamon?
grahamon 29 Oct 2010 at 8:08 pm
Hi, I’ve invested with AWI since 2004 and haven’t been able to sell my fairly substantial wine portfolio. I have the same bad experience as the rest of you. Actually, I have not heard from the AWI people for a long while until recently. A broker and a new director (Edward Davidson) have been calling me few times a day. They promised to sell my entire wine portfolio at an auction in China next year on the condition that I purchase MORE wine from them – anamorphosis rated RPJ 99 at SGD$330 per bottle. I searched the internet and saw that this wine was sold online at only USD$129. Much as I wish to have my wines sold at the auction, I don’t know if I should trust them again… Any advice or similar experience??
I am actually here and dealing with real clients with real complaints rather than wasting my time on a forum with very few actual AWI customers on it but a load of disgruntled ex brokers trying to slander AWI.
I will repeat its very exciting times at AWI and lots of good news for owners very soon any one that is a genuine cusomer or has a genuine complaint please contact me on ; (65) 6327 8975 or email [email protected]
Thankyou
E Davison,
If you think its only “a few actual AWI customers”, I challenge you to invite all your AWI investors into this forum and see what is their reaction. Nevertheless, as the awareness of this forum grows, I think the truth will surface – slowly but surely.
By the way, why is there a need to change your mobile and now broadcast your office number where calls are screened? That’s not very helpful.
What exactly do you mean by real clients? Do you consider people who has invested with AWI and has stopped buying from you as real clients? If so, there is a whole group here awaiting your help. Lets discuss about the original cost and the price you could help to dilute their investment openly here. Its free publicity for AWI if indeed you has lots of good news for us, AWI investors.
As a start, some of us AWI Investors bought Astralis for above $400 per bottle, say 2003 vintage, what is the price that you can liquidate for your investors now?
NB:Just a reminder for those who want to invest further, do it with a clear mind! Don’t throw good money into a bad investment.
ReplyE. Davison,
As above-mentioned, Lets discuss about the original cost and the price you could help to dilute their investment openly here. Its free publicity for AWI if indeed you has lots of good news for us, AWI investors.
Pls do not always say” i can help”. Do the real action!!!
Mike,
There are people in the forum trying to do fire sales. If you want to try him, don’t be shocked if you have to take a loss of 60%.
Where is E Davison? Thought he was going to give big cheques to AWI investors. Disappeared overnight?
Hope he will help as promised here. But bear in mind, never never throw any more good money into this sort of bad investment! Just in case he tries to sweet talk to you, you need to be mentally strong.
Here is my strategy. I bite the bullet and cut loss. Then I put the money into Gold, Genting, SGX, etc. I will see if I can recover over the next couple of years. At least the exit is easy, anytime!
Good luck!
Reply
Hi Mike,
I think the best exit strategy is to drink it up yourself and life goes on.
ReplyTo all long-term investors,
Care to share your exit strategy? Are you writing off the investment? And are you paying any fees for the insurances and storage?
Thanks,
mike
We are looking to purchase Cullen Diana Madeleine and Elderton Command. Please email [email protected]
Reply
Hi, I’ve invested with AWI since 2004 and haven’t been able to sell my fairly substantial wine portfolio. I have the same bad experience as the rest of you. Actually, I have not heard from the AWI people for a long while until recently. A broker and a new director (Edward Davidson) have been calling me few times a day. They promised to sell my entire wine portfolio at an auction in China next year on the condition that I purchase MORE wine from them – anamorphosis rated RPJ 99 at SGD$330 per bottle. I searched the internet and saw that this wine was sold online at only USD$129. Much as I wish to have my wines sold at the auction, I don’t know if I should trust them again… Any advice or similar experience??
ReplyA company is trying to sell you wine at 196% of the value you can buy it for online and you are still asking yourself and others if you should trust them?? WAKE UP!!!
If only you had all done some research of your own in the first place!!! You have all been conned, yet nothing illegal has taken place. You were offered wine at an inflated price and you all bought it without doing any research of your own.
If you buy a packet of cigarettes for $100 and find out the shop next door is selling them for $10 has the first shop done anything illegal? NO, you chose to buy the cigarettes for $100.
You are all guilty of blindly giving your money away over a so called investment none of you did any background checks for. I feel sorry for you as many of you have invested a lot of money. However, there is nothing you can do as nothing illegal has taken place.
You all need to stop giving them your money for overpriced wine NOW and find a way to try and get back some of your money. However if you can buy these wines on line for 50% of the value you bought them for and the seller needs to make their own mark up the most any of you can expect to get back is around 30-40% of the amount you ‘invested’.
You have all learnt a valuable lesson here hopefully. Dont give your money to salesmen without doing any research of your own.
Personally I cant believe so much stupidity has taken place on such a grand scale. Their business model should never had gotten off the ground. For that you are all to blame.
Cut your losses, stop complaining and get on with your lives.
ReplyWOW!
Well said on all accounts.
AWI is to blame for bringing the beast, but not alone in feeding it.
STOP buying wine from people over the phone!!! You don’t know ANYTHING about wine, and neither does AWI.
There are NO auctions for Australian Table wines, in China or anywhere for that matter. It’s as simple as that.
ReplyYes, i have learnt a valuable course. It is more important to do a research before investing. You know why i am so confident when i invest with AWI? It is because i trust Singapore government and i tought any investment institution in Singapore should be supervised by MAS, or other government entities. But the truth is the Company is not under any organization supervision…
ReplyDon’t go blaming the government. You are all adults. If you want to be treated like adults then you cant expect the government to do everything for you otherwise you may as well give up your rights and let them tell you what to do like little children. Then you can go crying to them when you feel someone has done something bad to you.
Investing is a risky business at best and you need to use good judgement and background research to ensure you make smart investments.
It’s not the governments place to decide which investments are risky or not and it s not practical to have an army of government personnel check every single company operating in Singapore. If this company has broken the law then use the police and the courts to fight your case. If you have paid too much for wine then you really are on your own here.
None of you are going to make a positive return on this investment. Stop giving any money to AWI now. They do not care where your money comes from. Whether it comes from your children’s education fund or your retirement fund. They just dont care. All they care about is selling you wine at an inflated price so they can spend the difference on cheesy rolex watches and trips to Koh Samui on the weekend until everyone wakes up and realises that they are completely unethical sad little people.
ReplyA few words of encouragement:
“Hi all. It’s a war room in here! We just had a consignment this morning and everyone is fighting to get their hands on this. I have managed to allocate 2 lots for you at a special price, and the price of this will double or even have a return of 400%! Robert Parker Junior rates this at 99, and we all know that when he does that, the price would rocket! I can only hold it for you for an hour, and you have to make the decision then. Don’t let this one-in-a-century opportunity slips past!”
What I really want to say is: you are not alone. We are in the same ship/shit, so let’s band together!
ReplyTo all investors and potential investors,
This is my 2 cents’ worth:
1) Let’s start to think about what we have been told so far. If our wine are indeed so valuable, why are we not able to sell them till there’s an auction. If we can only sell them during an auction, then why are the brokers calling us to sell us during ad-hoc times. How come they can sell outside auctions and we can’t? If our investments is worth double now, how come no one wants to buy at half price??!! Obviously this is a case of money in and no money out situation. Agree with one of the posters about let’s not throw good money down the drain.
2) With regards to Mr Davison, pls update your mobile number, so that we can all stop calling the poor chap with number 92386844. I hope this is an honest mistake, and not yet another delay tactics. Btw, i heard from another investor that Mr Davison is out of the country, and his ‘real’ mobile number is uncontactable. I hope he’s coming back….
3) With regards to Mr Robert, thanks for offering to help. I’m surprised that the price that you are quoting us are way below our original costs, contrary to what AWI told us. Of cus the majority of the doubts lie with AWI’s integrity, but I hope we can have more opinion about the valuation of the wines, and not make another poor-informed decision. (Anone who wishes to share about experiences with Robert, pls kindly share). We are in a situation whereby lack of information / misinformed is a great disadvantage to us.
4) I have decided to lodge a police report and with CASE. Even if the police report doesn’t do anything, I believe if enough of us lodge a police report, the least we can do for society is to prevent more people falling into the same situations like us. The fact that articles and talks are still being held openly means that this is still a very profitable business (obviously the ones profiting are obviously not us..)
ReplyHi please contact me on mobile or office 9238 6844
I am happy to help in any way i can
There is very exciting news for all owners with AWI regarding exit strategies coming very soon. I am working as hard as i can to resolve any unhappy owners problems and portfolios and get you to exit. I would ask you to show patience as you all only been dealing with me for a short period of time and I will show you results in return
Best
Mr Davison
ReplyRobert,
What level of prices are you selling? From your past transaction, what % of loss for the investors to bear? 10%, 30%, 50% or more?
Mr. E. Davison,
Are you still around to help the AWI investors?
Hi
Allow me to summarize my 4-week encounter with AWI this year for the benefit of those indecisive but potential wine investors..
I tried with both Andrew Bassett, AWI Trading Director & Alvin Lim, AWI Sales Director to liquidate my portfolio (way surpass the pre-requisite of the minimum 3 wines for auction as claimed by 1 AWI victim above), even at a loss. Alvin Lim ignored me totally while Andrew Bassett played delay tactics – 1st, informed no offer for my wines then mentioned he needed to leave the country to open up new markets so that AWI investors could sell off their wines. I ended up like a baton passed on to 2 other trading managers!!!!
I strongly believe that with numbers, we can pull down AWI together (chopsticks theory). Unless you still hoping AWI could help you generate wealth, otherwise, let us gather at http://www.facebook.com/group.php?gid=123388134340463 to plan for a way out..
Sci
Reply1 of AWI broker just rang me , pushing me to invest more or they will not be able to help me sell my previous investment, what kind of crap is this? I have decide to go to case and also make a police report. My wines has not been able to liquidate since 4 years ago. Enough is enough. I would suggest all real investors to make report with case or police , let them have some pressure so that they can do something about it.
ReplyGive Davison a call on his mobile – I guess its another AWI guy doing damage control here.
He claimed to give out large cheque but can he confirmed that he meets the 12% return that AWI has been targeting for the investors? I would be happy to get back my original investment or even with a 20% loss!
Lets be realistic, the current demand in the market doesn’t support the kind of price or strategy that AWI was selling. I do not know what are they committing to the new investors. It would be interesting if anyone have the answer.
For new investors, my advice is don’t invest but if you want to, then get written committment from AWI. Also check the paid-up capital of the company – just to understand how committed they are.
ReplyHi,
Are you able to get your orginal investment back from Davision? I do not believe he can do sth for us.
Hi,
Anybody know who is this E. Davison? He seems wanting to help we AWI investors.
ReplyI spoke to E. Davison multiple times before. Think he is another Saeed. Another delay tactics? To wait until Asian auction markets which are coming VERY SOON (next year)…
yet another disappointed investor..
Reply
All – I have been with AWI since 2004, and have not been able to sell either despite constant chasing and meetings with their management.
I have been out to Menlo to look at my wine (organised this with them and not through AWI) and was reassured by them that only I can move my wine. They also showed me the exact cases that I own (with the unique reference number).
Please let me know if you plan to take action, or if you find alternative ways to sell your wine.
Reply
Dear Friend,
i recently was being fooled again to purchase the last order to make up the “vertical collection”, then they promise to give the auction form to participate the coming Shanghai Auction.
When they help to unload are actually selling to one or another of us.
There are many from Malaysia also in your same situation.
Be prepare to take legal action.
Thank You For Your Attention.
Reply