2012 may not have been an easy year for the fine wine market, but the two charts here certainly provide reason to be cheerful. Liv-ex now has 430 merchant members in 35 countries, and their level of engagement continues to grow. The number of active markets and the number of spreads on the exchange hit a new high last month.
There are currently more than 3,500 bids and offers on Liv-ex, reflecting a broadening market. Exchange turnover reached a yearly high in March, while the total exposure (shown below) has been rising since August 2012 and now stands at over £21.5million.
These are positive signs, but while the closing level of the Liv-ex 100 Index in March showed another monthly rise, it remains 23% below its peak of June 2011. All eyes now turn to Bordeaux 2012. If they price it right – and this is by no means guaranteed – the market will continue to broaden and deepen to the benefit of all.