“It was a market that was struggling to go anywhere and was feeling a bit tense,” said Justin Gibbs, co-founder of Liv-ex, the London-based online exchange for wines, and a former banker at BNP Paribas. In the first two months of 2020, coronavirus-induced lockdowns sharply lowered demand for fine wine at bars, restaurants and hotels but caused private sales to soar, Gibbs said. “Now we’re in April and the market’s reasonably steady.”
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