Liv-Ex - The Fine Wine Market
The London International Vintners Exchange (Liv-Ex) has removed a number of the key risks of the fine wine market.
As a result we have found the fine wine investment market to be safer, more transparent and ultimately more profitable.
We have outlined what we believe to be some of the key benefits of using Liv-ex below.
One of the key benefits to Liv-ex is the unrivalled access it provides to world wide liquidity. There are now approximately 450 members in 35 different countries meaning that if you wanted to access this volume of buyers, you would have to;
1. Find the name and number of the correct person at each company.
2. Learn their language/ hire a translator.
3. Deal with the currency difference....
... the list goes on!
In short, there is no other one place to get access to this many buyers and sellers without even picking up the phone, meaning that buying and selling becomes that much easier.
Due to the far reaching scale of Liv-ex members, there is also a plethora of data to pick through and analyse.
By seeing the stock lists of many of the biggest and best fine wine traders in the world along with price and trade history, we are able to build a much clearer picture of the market. This enables our analysis team to scrutinise the data to come up with recommendations for either buying or selling.
This has created many more opportunities for profit making than were previously available.
Needless to say, at Veblen Wines we are big fans of anything that allows us and our clients the chance for more profit!
This I believe to be the jewel in the crown of this fine wine exchange.
When buying wine we need to have some sort of governance in place for quality control. So when buying on Liv-ex we buy to a contract called Standard in Bond (abbreviated to SIB) which means:
1: The wines are held in “bond” so there is no import duty or VAT to be paid
2: It covers the condition of the wines at the time of purchase.
In order to qualify for this contract and be given the SIB passport, the wine must satisfy certain criteria in a condition report.
1: “OWC” – It must be in its Original Wooden Case
2: The foil capsules on top of the bottle must be in perfect condition
3: The cork must be flush at the top of the bottle
4: The ullage (Liquid level of wine) must be no lower than the base of the neck
5: The label must be in perfect condition
With movement of wine and a worldwide counterfeit wine market into the billions of pounds it is increasingly important to be vigilant when it comes to provenance and quality control. Liv-ex does this for us so we can concentrate on the market!
In summary, since Liv-ex was founded in 1999 it has bought the fine wine market up to modern times and they continue to deal with many of the past headaches in this market.
Liv-Ex membership is not available to private collectors. By working with a company like us at Veblen Wines you can access all of the benefits through our service.
We would love to talk with you to discuss how we can help improve your fine experience or help you build and manage your portfolio.
Call and speak to one of our team 01622 672 314 or email email@example.com and we will be glad to help.
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