CROWN WINE CELLARS
Quarterly Newsletter
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CWC2 & CWC3 FULLY OPERATIONAL: CWC4 TO BE COMPLETED IN SEPTEMBER 2009
CWC has been inundated with hundreds of requests from wine owners to return their wine collections to Hong Kong. This has led to the accelerated opening of our new facilities.
CWC2 & CWC3 are already operational, while CWC4 will be completed in September 2009. These facilities, in combination with CWC1 are capable of satisfying all the expected demand for Fine Wine cellaring and storage until end 2010.
What makes CWC2, 3 & 4 stand out above all competitors is the attention to detail with no consideration of expense. Small concrete cells (NOT A WAREHOUSE) are created each with their own complex computerized climate control systems (NOT AIR-CONDITIONING), that are able to deliver superb, balanced temperature and humidity results which create the very best conditions available anywhere in the world.
Prices will start at HK$144 per year per case of 12 bottles (GBP11).
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BULLETIN BOARD
Crown Wine Cellars is pleased to announce the launch of a Bulletin Board on its website.
This notice board will be used to announce all upcoming events, specials as well as notices from our preferred partners such as auction houses and wine merchants.
Please make use of this service and take a regular look at: www.crownwinecellars.com.
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COMPREHENSIVE INSURANCE COVER
The Comprehensive Insurance Cover policy has been operating flawlessly for almost 1 year.
All wine held at any CWC facility is covered by this industry leading cover which guarantees replacement for loss or breakage at full current market value with no deductible charged.
Please find attached the current Terms and Conditions relating to wine kept with us, as well as details of our insurance policy.
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REGISTRATION BY THE BOTTLE AT CWC1
It would be appreciated however if Members would take note of the following standard operating procedures:
1. There is a minimum required period of 14 working days for incoming wine to be registered and uploaded onto client¨s personal online inventories. Each bottle registration and physical check takes an average of 2 minutes to complete making this an unavoidably labour intensive task.
2. While every effort is made to register incoming wine inside the specified minimum period, this is sometimes not possible due to multiple container arrivals. All wine registration is handled on a first come first served basis.
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ALL ACCOUNTS MUST UTILIZE AUTOPAY
To bring Crown Wine Cellars in line with all other Private Clubs in Hong Kong, only Autopay is accepted as the payment method for account holders.
There are still a few account holders who have not yet converted to an Autopay method of payment. These accounts are regrettably not be permitted to take on any new charges.
Detail of how to arrange for Autopay are available here.
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GENERAL ACCOUNTING RULES FOR MEMBERS
It would be appreciated if Members would take note of the following General Accounting Rules:
1. All unpaid accounts of 90 days or more will have access to their wine frozen until the outstanding balance is settled in full.
2. All unpaid accounts of 90 days or more will not be permitted to utilise the Club until the outstanding balance is settled in full.
3. All unpaid accounts of 180 days or more will regrettably have their wine claimed as lien by CWC in lieu of payment and face legal action to recuperate all outstanding charges.
4. CWC invoices are sent in arrears to Members in the third week of the following month.
5. CWC utilizes soft-copy invoices only.
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GENERAL OPERATING RULES & CHARGES FOR THE CELLARS
It would be appreciated if Members would take note of the following General Operating Rules for the Cellars:
1. Due to enhanced security, the Cellars only operate during Office Hours: Week-days 9am to 6pm and Saturdays 9am to midday.
2. Accompanied Cellar tours by account holders are welcome during Operating Hours. However, physical inspections of wines cost HK$50 per case if conducted at Clubhouse, and HK$300 per hour or part thereof if conducted in the Cellars.
3. A photo service is available at HK$10 per bottle with a minimum service charge of HK$60.
4. All requests for deliveries require a minimum 3 working days to assemble the orders. An emergency service is available with 1 working day notice but is charged at HK$300 per 5 cases requested.
5. Registration of wine by the bottle take a minimum of 14 working days following receipt of the wine. While every effort is made to maintain this time-line, this may be extended at times due to the simultaneous arrival of multiple containers.
Crown Wine Cellars is pleased to announce the appointment of Ms Priscilla Chow at CWC1 and Ms Maggie Ma at CWC2/3. It would be appreciated if all delivery requests will be copied to Ms Chow and Ms Ma at: pchow@crownwinecellars.com and mma@crownwinecellars.com. They will schedule the same and send the calendar to the Operations Team for action.
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PRICING STRUCTURE FOR WINE SHIPMENTS FROM FRANCE AND THE UK
Herewith please find the pricing structure for all shipments from France and the UK to Hong Kong as introduced on 1 May 2008.
Please note that:
1. CWC only utilizes reefer containers.
2. Our UK containers depart every few weeks and are dispatched as they are filled.
3. Orders are taken on a daily basis and are processed on a first come, first served basis.
Read what Jancis Robinson has to say about transporting your wine.
UK & France
1. Less than 48 bottles from any one location:
Full Club Members - HK$35 per bottle + Collection Charges (if applicable);
Non-Members HK$55 + Collection Charges (if applicable)
2. More than 48 bottles but Less than 360 bottles from any one location:
Full Club Members - HK$30 per bottle + Collection Charges (if applicable);
Non-Members HK$50 + Collection Charges (if applicable)
3. More than 360 bottles but Less than 1,200 bottles from any one location:
Full Club Members - HK$25 per bottle;
Non-Members HK$35
4. More than 1,200 bottles but Less than 3,600 bottles from any one location:
Full Club Members - HK$20 per bottle;
Non-Members HK$30
5. More than 3,600 bottles from any one location:
Full Club Members - HK$15 per bottle;
Non-Members HK$25
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KNOW THE INTERNATIONAL PRICES OF YOUR WINE
Liv-ex is the world¨s leading fine wine exchange. Its online Cellar Watch service enables an instant evaluation of your cellar, featuring up-to-date prices, a break-down of its contents by vintage and region and an analysis of its performance over time. Subscribing to Liv-ex also allows you to instantly search for the current prices of thousands of fine wines and gives you access to its industry-leading market analysis, including the Monthly Market Report and the Liv-ex 100 Index.
A number of subscription levels are available. You can sign up on-line at www.liv-ex.com.
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THE 5 QUESTIONS THAT EVERY WINE COLLECTOR SHOULD KNOW THE ANSWERS TO (& HAVE IN WRITING)
1. Where Exactly Is My Wine?
Many wine storage companies operate multiple facilities that may vary as to the storage conditions provided. It is every customer¨s right to know the exact location where your wine is being cellared or stored.
What should be done:
， Ask your storage company for the exact location of your wine, the full address, and contact details of those in charge of that particular facility.
， Ask if you can personally inspect your wines at that facility as well as inspect the facility.
， If you cannot physically inspect the facility, ask for detailed photos to be sent to you showing the general conditions, security, racking, cooling systems, etc.
2. What Are The Exact Conditions That My Wine Is Being Kept In?
Wine storage (above ground) and cellar (below ground) operations vary enormously regarding the physical conditions that they can offer.
It is imperative to protect your wine¨s provenance and thus the ultimate taste (wine is a living product after all) and resale value.
The fine wine world is evolving and the inferior (but currently accepted) storage conditions of today will not be acceptable to buyers of fine wine tomorrow. However, you will never be able to turn the clock back to change the storage history of your fine wines - ＾Once tainted, forever stained￣.
What should be done:
Ask your storage company the following:
， Is my wine being stored above ground or cellared below ground?
， If my wine is being stored above ground:
Þ Does the cellar or storage facility have climate control (Heaters, coolers, dehumidifiers and humidifiers all operating simultaneously 24 hours per day, 365 days per year);
Þ Or basic air-conditioning and heating (each system only switched on when needed to compensate for summer or winter conditions);
Þ Or basic air-conditioning only;
Þ Or no systems at all?
NOTE: A BASIC AIR-CONDITIONER UTILIZED IN ANY STORAGE BUILDING CANNOT MAINTAIN A PERFECT 13 DEGREE ENVIRONMENT - THIS IS SIMPLY NOT PHYSICALLY POSSIBLE AND SHOULD BE CHALLENGED IF CLAIMED.
NOTE: A BASIC AIR-CONDITIONER SWITCHES ON AND OFF CONTINUOUSLY BY VIRTUE OF ITS DESIGN THUS CAUSES CONSTANT RISES AND FALLS IN TEMPERATURE - THE ARCH ENEMY OF WINE.
Þ Is it in a large single open warehouse structure or in smaller, isolated and controlled structures?
Þ Does it utilize multiple professional climate control systems or one large industrial system?
NOTE: A SINGLE LARGE INDUSTRIAL AIR-CONDITIONER IS NOT ABLE TO ADAPT TO VARIATIONS IN TEMPERATURE FOUND IN LARGE FACILITIES. ITS TEMPERATURE DELIVERY IS BY ITS VERY NATURE, INDUSTRIAL (UNSOPHISTICATED AND ONE-DIMENSIONAL).
， If my wine is being cellared below ground:
Þ Does the cellar facility have climate control (Heaters, coolers dehumidifiers and humidifiers all operating simultaneously 24 hours per day, 365 days per year);
Þ Or basic air-conditioning and heating (each system only switched on when needed to compensate for heat and cold);
Þ Or basic air-conditioning only;
Þ Or no systems at all?
， Has my wine ever been moved from one facility to another?
， How was my wine transported to its current location - what kind of vehicle was utilized - was the vehicle¨s cargo area air-conditioned?
NOTE: ENCLOSED CARGO AREAS CAN BECOME VERY HOT WHEN EXPOSED TO DIRECT SUNLIGHT EVEN IN COOL CLIMATES.
， At what time of the year was my wine transported to its current location?
3. Do I Own My Wine?
Make sure that you are the only person with title to your wine.
What should be done:
， Ask your storage company outright whether you are the direct and sole owner of the wine, or is your wine part of a company account?
， Ask your storage company outright if they go out of business, will your wine be claimed by their receiver or will you be able to claim your wine?
， Ask your storage company if your name appears on every specific case that you own?
4. Is My Wine Covered For Theft, Loss or Damage Up To Its Current Market Value?
， Ask your storage company if you have 100% insurance on your wine at full current market replacement value?
， Ask your storage company how this insurance value will be calculated at the time of the claim?
， Ask your storage company or merchant whether the insurance covers the total value of all the wines held at that facility? I.E. In the event of a total catastrophe, are all the wines held at that facility covered to the combined value of all the wines held there.
5. How Good Is The Security Where My Wine Is Kept?
， Is there 24-hour physical security/guards on duty?
， Are all exits and entrances alarmed and are these alarms connected directly to the police and private security response units?
， How easy can an intruder/other members of the public gain entry to the facility?
， Can the facility be accessed at any time of the day or night by any account holder thus exposing your wine to a constant security threat.
， Could an intruder/other members of the public gain access to your wine over an extended period of time without you being alerted?