- The number of wine labels traded year-to-date is 2.4% higher than 2021’s record level.
- Wines from nine new regions changed hands on Liv-ex for the first time.
- The number of active market participants (buyers and sellers) is also higher than ever.
The secondary market continues to broaden
An LWIN (Liv-ex Wine Identification Number) is 7-, 11-, 16 or 18-digit numbers, depending on the level of detail. The 7-digit code refers to the wine itself (i.e. the producer and brand, grape or vineyard). The longer codes include information about the vintage, bottle and pack size.
The secondary market for fine wine has continued to broaden in 2022, with more wine labels trading than ever before. Year-to-date, 4,692 wine labels (LWIN7s) have changed hands on Liv-ex, 2.4% more than in 2021.
Burgundy has been the biggest contributor to this market broadening, accounting for 40.6% of the wine labels traded so far this year.
Italy has been the second largest, accounting for 16.2% of labels traded. They have been followed by Bordeaux (8.4%), Champagne (7.8%), the Rhône (5.8%) and the USA (4.2%).
On the other hand, at an LWIN11 level – wines identified by a vintage – the figure remains 4.3% below last year’s record.
First time entrants
Wines from nine different regions were traded for the first time this year, including icewine from Ontario in Canada and a Pinot Noir from Nelson in New Zealand.
Countries such as France and Italy also broadened further, with wines from Côtes Catalanes (in Languedoc-Roussillon), Lazio and Valle d’Osta trading for the first time. Spain’s secondary market also expanded with wines from Aragon and Tenerife in demand.
A Greek wine traded on Liv-ex for the first time too – Gaia Assyrtiko Wild Ferment 2020 from Santorini.
A contributing factor to this diversity has been the broadening pool of buyers and sellers. The number of market participants, who have driven trade so far this year, is 1.7% higher than 2021.
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Liv-ex analysis is drawn from the world’s most comprehensive database of fine wine prices. The data reflects the real time activity of Liv-ex’s 600 merchant members from across the globe. Together they represent the largest pool of liquidity in the world – currently £80m of bids and offers across 16,000 wines.