An exchange is a formal meeting place where like-minded parties gather to find out what’s going on in their market, exchange data and to identify opportunities for profit.
Buyers and sellers come together to trade with confidence and security, bound by common rules and contracts.
Liv-ex (The London International Vintners Exchange) is the global exchange for the fine wine trade.
Liv-ex was founded in 2000 to make it more transparent, efficient and safe for businesses to trade fine wine on the secondary market.
”Liv-ex (The London International Vintners Exchange) is no different from any other exchange. It provides an independent meeting place where its members - bound by a common profession - can come together to find what is happening in theory market and identify opportunities for profit.
James MilesLiv-ex Chairman and CEO
The secondary market is the resale market only for wines with the potential to improve and appreciate in value over time; wines with sufficient market demand.
If the original owner decides to sell a wine, it’s likely to realise a financial gain, or to free up capital. They’ll likely offer it back to the merchant from whom they purchased it, who might then offer it to another merchant or customer.
Companies use Liv-ex to price, buy and sell wine in smarter ways:
Members of Liv-ex include wine merchants, wholesalers, importers, wine funds, wine investment businesses, producers, auction houses and logistics businesses.
Private collectors cannot join Liv-ex nor trade directly on the global exchange for the wine trade.
Reputable wine businesses whose membership applications are accepted can buy and sell with ease and confidence on Liv-ex. Trade thousands of wines with thousands of other traders worldwide, but deal with only one counterparty; Liv-ex.
Once a bid and an offer are matched, the trade is confirmed. The seller is instructed to promptly deliver the wine to one of our warehouse locations. An alternative option is our collection service.
Liv-ex checks and verifies the wine before paying the seller – typically within 2 weeks. The buyer is invoiced, and the wine is made available to them. The vast majority of Standard In-Bond trades are settled in under 35 days.
Prices on the global fine wine exchange are set when the highest bid from a buyer matches the lowest offer from a seller.
As all exchanges should, Liv-ex remains fiercely independent; not setting prices, not holding stock, not participating in the market, and not competing with its members.
As a result, Liv-ex pricing data is independent and free from bias. It reflects the trading activity of the largest pool of reputable wine businesses in the world.
By integrating your website and system with Liv-ex, you can share the buying and selling opportunities with your customers (with your commission added). Offer them a bigger choice to buy and a faster route to sell.
