161: Investing in Fine Wine - Cult Wines CEO Tom Gearing
Tom Gearing is CEO and co-founder of Cult Wines Ltd, the world’s leading fine wine investment company with assets under management of £130 million. Founded in 2007 and headquartered in London, the company has offices in Hong Kong, Shanghai, Singapore and New York (late 2020). Cult Wines provides physical fine wine portfolio management services to private individuals and clients of family offices, wealth managers and private banks globally. Tom has overseen the growth of the business receiving a number of awards including appearing on the Sunday Times Fast Track 100 in 2015 and 2017, as well as receiving a Queens Award for International Trade. Tom regularly features as a market commentator appearing on media outlets such as Bloomberg, CNBC Europe, CITYAM and more. Tom is a former runner-up on the BBC’s Apprentice in 2012. Listen to ILAB 161 on iTunes here or subscribe on your favorite podcast app. Where we are: Johnny FD – Sri Lanka / IG @johnnyfdk Sam Marks – North Carolina / IG @imsammarks Derek Spartz - Los Angeles / IG @DerekRadio Sponsor: MasterworksAt signup, go to Masterworks.io, select Podcast and use code BOSS to skip the 70,000 person wait list. Support Invest Like a Boss: Join our Patreon Discussed: Cult Wines Ltd Like these investments? Try them with these special ILAB links: ArtofFX – Start with just a $10,000 account (reduced from $25,000) Fundrise – Start with only $1,000 into their REIT funds (non-accredited investors OK) Betterment – Get up to 1 year managed free Wealthfront – Get your first $15,000 managed free PeerStreet – Get a 1% yield bump on your first loan *Johnny and Sam use all of the above services personally. Time Stamps: 07:40 – How did you get started in Wines? 12:09 – What is a “fraud” wine? 15:44 – Is there a lot of money in owning and operating a vineyard? 19:28 – Which country sells the most wine by volume ? 22:00 – What is driving the price of wine? 25:56 – What happens when the bottle “goes bad”? 30:30 – Do wines differ with food pairing and ageing? 34:24 – How does Cult Wines Ltd engage with different investors? 42:16 – What are the range of portfolios with your investors? 44:04 – Are all your investors financial investors? 46:30 – Where do you have operational centers throughout the world? 47:27 – Are there any restrictions on who can invest? 48:15 – Could you see yourself doing anything different? 51:29 – Sam & Johnny Recap If you enjoyed this episode, do us a favor and share it! Also if you haven’t already, please take a minute to leave us a 5-star review on iTunes and claim your bonus here! Copyright 2020. All rights reserved. Read our disclaimer here.