Wine as an investment does have some concerns, including the fact that (unlike dividend-paying stocks and bonds) stored wine produces no return for the investor until it is sold, and insurance and storage costs will mean the investor is losing money while waiting for the wine's value to appreciate. There is low liquidity in US wine inventory, as most US states will only allow private wine sales through auctions, which themselves may take a commission of 15% to 25%.[15] Investment in fine wine has attracted fraudsters both in the UK[16] and US,[17] who prey on their victims' ignorance of this sector of the wine market.[18] Losses by investors to rogue wine investment firms can be significant, made more acute by the fraudsters willing to re-offend.