FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Echevarria Maria I. 		2. Issuer Name and Ticker or Trading Symbol

Gaucho Group Holdings, Inc. [ VINO ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
CFO
(Last)          (First)          (Middle)

135 FIFTH AVENUE, FLOOR 10 		3. Date of Earliest Transaction (MM/DD/YYYY)

7/8/2019
(Street)

NEW YORK,, NY 10010
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Shares                  7484   I   See Footnote   (1)

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option   $2.20   7/8/2019     D         150000      (2) 6/8/2020   Common Stock   150000   $0   0   D    
Stock Option   $0.385   7/8/2019     A      150000         (3) 7/8/2024   Common Stock   150000   $0   150000   D    
Stock Option   $0.385                      (4) 1/31/2024   Common Stock   75000     75000   D    
Stock Option   $0.539                      (5) 9/20/2023   Common Stock   30000     30000   D    
Stock Option   $0.77                      (6) 2/14/2023   Common Stock   25000     25000   D    
Stock Option   $1.10                      (7) 12/6/2022   Common Stock   50000     50000   D    

Explanation of Responses:
(1)  Held in Ms. Echevarria's 401(k) account. Ms. Echevarria was granted 4,286 in connection with the Company's profit sharing plan for the December 31, 2018 year end.
(2)  Options granted pursuant to AWLD's 2008 Equity Incentive Plan; options to acquire 37,500 shares vested on June 8, 2016; thereafter options to acquire 9,375 vest every three months. Options cancelled with no value received.
(3)  Options granted pursuant to AWLD's 2018 Equity Incentive Plan; options to acquire 38,750 shares vest on 7/8/20; options to acquire 9,693 vest on 10/8/20; thereafter options to acquire 9,687 shares vest every three months.
(4)  Options granted pursuant to AWLD's 2018 Equity Incentive Plan; options to acquire 18,750 shares vest on 1/31/20; options to acquire 4,693 vest on 4/30/20; thereafter options to acquire 4,687 shares vest every three months.
(5)  Options granted pursuant to AWLD's 2018 Equity Incentive Plan; options to acquire 7,500 shares vest on 9/20/19; thereafter options to acquire 1,875 shares vest every three months.
(6)  Options granted pursuant to AWLD's 2016 Equity Incentive Plan; options to acquire 6,256 shares vest on 2/14/19; thereafter options to acquire 1,562 shares vest every three months.
(7)  Options granted pursuant to AWLD's 2016 Equity Incentive Plan; options to acquire 12,500 shares vest on 12/17/18; thereafter options to acquire 3,125 shares vest every three months.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Echevarria Maria I.
135 FIFTH AVENUE, FLOOR 10
NEW YORK,, NY 10010

CFO

Signatures
/s/ Maria I. Echevarria 7/18/2019
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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