New high for bids on Liv-ex
The value of confirmed bids and offers on the Liv-ex Exchange reached a new high last week of nearly £30 million.
Referred to by Liv-ex as “exposure”, the total value of bids and offers last week on the platform was £29.2m. The rise has been boosted by an increase in bids since June 2014 and has been growing since 2007 when the exposure was just £3.3m.
The news is a follow-on from January when the bid:offer ratio on Liv-ex rose above 100% for the first time since 2010 – a sign which pointed to greater stability for fine wine prices.
In turn this plays into the wider narrative of a strong start to the year for fine wine following 1.1% rises for both the Fine Wine 100 and Fine Wine 1000.
Liv-ex pointed out that purchasing power has been boosted by recent currency upheavals, with a weaker sterling making euro and dollar buyers more active.
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The trade-off is always the warning that in recent years the fine wine market has rallied in January only to irresistibly decline – usually following a disappointing Bordeaux en primeur campaign.
Liv-ex, however, also pointed out that the first growth tracker, the Fine Wine 50, is up 2% on the year to date.
Will this be sustained? It asks.
