From today (Thursday 31st May), it will be easier than ever to source wine on Liv-ex. This is because you will be able to bid against list prices where there are no live offers for a wine.
Bidding on a list price
Previously, in the absence of an offer, a blank space would have been displayed in the offer column on your screen. Now, the lowest list price is shown. List prices are displayed in yellow to differentiate them from firm offers, which are shown in blue.
In the example below, there are no live offers of Smith Haut Lafitte 2015 in twelve pack, but there is a list price (£855). If you are interested in buying the wine, you can place a bid by clicking on the box. The seller will instantly receive a notification of your commitment to buy. If the seller offers the wine on Liv-ex at your bid price, the trade will match and the transaction will be settled efficiently through our distribution network.
In addition to the £20m of live offers already on the platform, you will be able to bid on £164m of listed wines.
This brings the total number of individual wines (LWIN 11s) available to over 60,000.
Selling from your list
If, like the majority of members, you share your wine list with Liv-ex, you may start to receive notifications about firm commitments to buy. An example notification email is shown below.
In this example, the recipient of the email is listing Beychevelle 2015 at £550 per 6×75. A Liv-ex member has committed to buying a case at this price. To sell the wine, the email recipient simply clicks ‘Make offer’ and puts the wine live at £550.
This makes it easier than ever to find selling opportunities on Liv-ex. If you do not currently share you list with us but would like to receive notifications like this, please speak to your Account Manager.
This feature will be available for you to use on Liv-ex’s new beta platform. To access it, select try beta on our sign in button or click here.