Today the ratio of bids:offers on Liv-ex is at its lowest since August 2012, at 0.30 (a ratio of 0.50 and above typically indicates a healthy market). While active markets (the number of wines with either a bid or offer against them on the exchange) are at record levels, it is entirely due to an increase in offers. Bids are dropping away.
Below we have charted the Liv-ex 50 against the bid:offer ratio. Correlation between the two would suggest that a change of direction in the bid:offer ratio results in a change of direction for the Liv-ex 50 (with a lag of 2-8 weeks). While imprecise, it would seem that fine wine prices may struggle to rise with the current ratio.