Liv-ex: the fine wine world’s Wall Street

In 2000 two young men - Justin Gibbs & James Miles - gave up their day jobs and started Liv-ex, an internet-based fine wine exchange that has since revolutionised the market in fine wine.

In 2000 the volume of fine wine traded globally was around £1bn per annum - today that figure is closer to £3bn. Much of that growth is down to Liv-ex.

Liv-ex has 250-plus trade members around the world who can buy and sell fine wine on the exchange in the same way that other commodities are traded. They also provide an

independent valuation service for wine funds and collectors around the world.

They have an enormous database on all fine wines so if you want to find out what Chateau Lafite 2000 is worth now - and its trading history over the last 5 years, Liv-ex is the place to go.

It is this transparency in pricing present and past that has revolutionised the fine wine market - Liv-ex is independent and does not buy or sell wine from the general public so they do not have the conflict of interest that perhaps much of the trade does as it is trying to sell to you its stock. They are purely an exchange.

Liv-ex also runs the '100' fine wine index which operates much the same as the FT index for stocks and shares. The index is now on Bloomberg and the