Liv-ex celebrating twenty years in the fine wine market
2020 is a special year for Liv-ex. It marks their 20th birthday - twenty years of the web based, real time fine wine market.
Their mission has not changed since the start: to help merchants grow by making the wine market “transparent, efficient and safe”. But plenty has. Membership has grown from ten UK merchants to almost 500 merchants globally, and staff to over 50 – with expertise in various areas including data, technology, logistics, sales and marketing.
Justin Gibbs and James Miles in 2005
The first trade on Liv-ex took place in June 2000 when a case of Gruaud Larose 1982 sold for £964. In the twenty years since, Liv-ex have handled hundreds of thousands of transactions between members across 44 countries worldwide.
Liv-ex's indices have tracked the prices of the most traded fine wines on the market since 2004, with the Liv-ex 50 and Liv-ex 100 used as benchmarks by Bloomberg and Reuters. The London warehouse has been streamlining the settlement of trades since 2007, and operations have expanded across Europe, US and Asia too.
Read the full article at: https://www.liv-ex.com/2020/02/lxisxx-celebrating-twenty-years-fine-wine-market/