> For the complete documentation index, see [llms.txt](https://manifesto.winefi.co/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://manifesto.winefi.co/governance/fees.md).

# Fees

For both our fine wine syndicates and our private portfolios, WineFi charges a **12.5% administrative fee** on the purchase price of wines. This covers WineFi's costs, as well as the cost of storing and insuring the wines for five years.

If the wines are held for longer than five years, the additional cost of storage and insurance (£0.95 per bottle, per annum) is taken "at cost" from the eventual sales price of the wines. 

{% content-ref url="/pages/Ujmlx3mxmDVtxJxnxAZ5" %}
[Storage and Insurance](/governance/storage-and-insurance.md)
{% endcontent-ref %}

**Exit / Sale**\
When wines are sold, proceeds are distributed directly to Members in proportion to their beneficial ownership. WineFi does not charge an ongoing management or performance fee. Standard market transaction costs may apply at cost.

**No Hidden Fees**\
There are no ongoing management, subscription, or performance-linked charges. Members retain full direct ownership of their share of the wines at all times. If we do not perform, our investors will not re-invest. 


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