Liv-ex Newsletter – May 2017

Welcome to the May 2017 Liv-ex newsletter
Bordeaux might be dominating the headlines at the moment, but in April trade for the region dipped. The Liv-ex 100 Index drifted for the first time in nearly a year and a half, and it was Bordeaux pulling it down. The pricing levels of the new releases – a key concern expressed by members in our En Primeur survey – will likely help to inform the market’s future direction.

Results: Liv-ex En Primeur Survey 2016
Thank you to everyone that completed this year’s Liv-ex members En Primeur survey. The results are now available, offering you a unique insight into the views of the trade on the vintage. This year, Lafite Rothschild was crowned ‘wine of the vintage’, and, once again, Grand Puy Lacoste was the top value pick. To view the full results, click here.

For a reminder of how to sell En Primeur stock on Liv-ex, please click here.

Interview with Jane Anson
Liv-ex recently caught up with Decanter Bordeaux reviewer, Jane Anson, who has recently published her verdict on the 2016 vintage. In an interview published on Liv-ex Insights, Jane shares her thoughts on the vintage, wine criticism and her career. Read it here.

Coming soon: Wine Matcher
If you spend time working with fine wine lists, Wine Matcher can help you to operate more efficiently. Wine Matcher can standardise lists and add pricing data from Liv-ex at a speed of 10,000 lines per minute. This allows you to process or compare lists – and identify trading opportunities – quickly and accurately. To find out more, contact Liv-ex Head of Data, Neil Taylor.

In focus: Exchange Integration
Exchange Integration enables you to offer wine from Liv-ex directly to your customers, or showcase your stock to a global audience by offering it on the Exchange – without any manual processes. It does this by enabling your system to communicate with Liv-ex in real time. This means that stock on both systems stays in sync automatically. Find out more at Liv-ex Developers.

Liv-ex in the news
In an interview with Bloomberg, Antonio Galloni discussed Bordeaux 2016 and the fine wine market, quoting Liv-ex Indices. The FT (subscribers only) examined the drop in the Liv-ex 100 in the context of uncertainty ahead of En Primeur and the French elections, while Decanter asked whether Cos d’Estournel set the tone with fine wine pricing. It was released at the same level as its 2015.

Thank you for reading
We hope that you’ve found this edition useful. As always, you can keep up to date with developments as they happen by visiting the Liv-ex noticeboard. If you have any feedback or questions on this newsletter, please email salesteam@liv-ex.com or call +44 (0)20 7062 8788.

By | 2017-05-11T10:31:39+00:00 May 11th, 2017|Data, Exchange, Press, Technology|Comments Off on Liv-ex Newsletter – May 2017

Liv-ex Newsletter – April 2017

Welcome to the April 2017 Liv-ex newsletter
The Liv-ex Fine Wine 50 Index reached a new five-year high this month and appears to be at a turning point. Historically, it has either risen or fallen quite rapidly after reaching its current level. Could Bordeaux 2016 represent a catalyst?

Bordeaux 2016 – your views
“The wine world can debate whether the 2016 vintage is better than 2015, but the bottom line is that both years are excellent.” – James Suckling

Last week, we circulated the 15th annual Liv-ex members En Primeur survey. In it, we ask for your thoughts on the quality of the vintage, how it compares to other recent years, and which wines you liked the most (and least…). The results will be fascinating. Participants also have the chance to win a double magnum of Figeac 2012. To have your say, please click here.

How to sell En Primeur on Liv-ex – reminder
If you plan to sell En Primeur on Liv-ex, you can find all the information that you need here. This includes details on required bank guarantees or insurance bonds, delivery requirements and payment.

Liv-ex Insights launches
Liv-ex Insights launched in March, providing a new home for the blog and a host of other research-focused content. Throughout the Bordeaux 2016 campaign, we’ll be posting analysis on all of the key releases as usual. You can also compare critic scores, view key prices and follow the #bdx16 conversation.

Market View: Your interactive dashboard for En Primeur
The annual Price Guide For Members has moved online – to Liv-ex Insights. The significant advantage of this is that prices are updated in near real-time. As key 2016s are released, they will be added to Market View, enabling you to compare them to other vintages available in the market. Please contact your Account Manager to gain access.

2016: A new dawn for En Primeur?
In March, Liv-ex released its special report: Bordeaux 2016: A new dawn for En Primeur? In it, we explore how the secondary market might inform pricing and help to restore confidence in the EP system. Available to Liv-ex members, you can download it here.

Liv-ex team
Edward Jackson has joined Liv-ex as a Research Analyst, tasked with contributing towards Liv-ex’s fine wine market research and insight. Ed’s previous experience includes business development analysis. He holds a BA in History from Durham University and is a keen rugby player.

Liv-ex in the news
In March, the FT (subs only) looked at the common link between Fine Wine and copper: China. Bloomberg kept its eye on global affairs, looking at how Brexit is affecting Champagne sales, while the Drinks Business reported on merchants’ (mixed) reaction to the ex-Chateau Latour releases.

On En Primeur, Decanter wrote on what merchants and traders are saying about price; the Drinks Business covered Liv-ex’s ‘call for the end to pricing opacity’ and ‘fair value’ methodology.

Thank you for reading
We hope that you’ve found this edition useful. As always, you can keep up to date with developments as they happen by visiting the Liv-ex noticeboard. If you have any feedback or questions on this newsletter, please email salesteam@liv-ex.com or call +44 (0)20 7062 8788.

By | 2017-04-19T11:11:55+00:00 April 19th, 2017|Exchange, Press|Comments Off on Liv-ex Newsletter – April 2017

How to sell En Primeur on Liv-ex

As the 2016 En Primeur campaign begins, we are offering a reminder of the process of selling En Primeur (EP) on Liv-ex.

For the 2016 campaign we will be setting the EP selling limit based on a bank guarantee or insurance bond. This should be provided up front at your expense.

Delivery
All EP sold on the exchange must be delivered “..as soon as the wine is available, and at the very latest by the end of May two years following the initial En Primeur offering.”

Bank guarantee
The guarantee must run until the end of June, two years following the initial release for sale (i.e. for selling EP 2016, the guarantee will need to run until the end of June 2019; for EP 2015, until June 2018).

If you wish to sell wine that has in the past been subject to a late release, we may require a longer term on the guarantee.

If you wish to provide a guarantee only at the end of the campaign, due to uncertainty over how much you might sell, we will require a letter from your bank confirming the amount of guarantee they are prepared to offer. In this case we may also require a margin deposit to cover our market risk.

Payment
Where a bank guarantee is in place, payment will be made according to normal terms: Friday after the sale, plus seven days. Otherwise payment will either be made according to normal terms or upon receipt of the bank guarantee, whichever is later.

If you would like to discuss selling EP, or require some draft wording for a bank guarantee, please email Liv-ex Head of Finance Simon Cottee (simon@liv-ex.com) or speak to your Exchange Manager who will also be able to help.

By | 2017-04-12T13:40:56+00:00 April 12th, 2017|Exchange|Comments Off on How to sell En Primeur on Liv-ex

AWRS: Registration numbers needed

New HMRC regulations
From 1st April 2017, UK merchants will need to have registered their URN numbers with Liv-ex before selling Duty-Paid stock on the Exchange. This change is being made to comply with new regulations from HMRC.

Liv-ex’s URN number is XXAW00000100721. To submit your URN number to Liv-ex, please contact simon@liv-ex.com.

You will not be able to sell Duty-Paid stock on the Exchange until we have verified your URN number.

What is the scheme?
The scheme, which comes into force in one month’s time, makes it compulsory for all wholesalers to be registered and fully compliant with HMRC regulations.

As part of the Alcohol Wholesaler Registration Scheme (AWRS), retailers will be responsible for checking they are buying from a registered source. This can be done by checking a wholesaler’s Unique Registration Number (URN) on hmrc.gov.uk and following the link to the AWRS look-up service.

If the wholesaler doesn’t have a registration number, or the number they give doesn’t show their company details on the approved list, retailers will be breaking the law if they buy alcohol from that company.

To read the full government document on the Alcohol Wholesaler Registration Scheme, click here.

Thank you for reading
We hope that you found this information useful. To find out more on the Alcohol Wholesaler Registration Scheme, please contact Simon Cottee at simon@liv-ex.com or call +44 (0)20 7062 8788.

By | 2017-03-21T13:00:45+00:00 March 17th, 2017|Exchange, Finance|Comments Off on AWRS: Registration numbers needed

Liv-ex Newsletter – March 2017

Welcome to the March 2017 Liv-ex newsletter
February provided an opportunity to look back at a number of the last decade’s Bordeaux vintages, before 2016 begins to take the spotlight. Liv-ex looked at 2007 ten years on, identifying how prices for the wines have moved since release. We also explored price gaps between the great 2009 and 2010 vintages, and compared recent critic scores for the 2014s in bottle. Other updates from the month are below.

Survey – thank you
Thank you to everyone that filled out the 2017 Liv-ex members survey, providing us with valuable feedback on our products and services. The final question asked you to predict the closing level of the Liv-ex 100 this year. The results of this are now in: on average, you foresee an 8% rise. Read more on this here.

Pre-advice API
This new API enables you to automate the process of sending pre-advices, saving you time and reducing the risk of error. You can find out more about API services, and how they make automation possible, at the Liv-ex Developers website.

Liv-ex team
Andrew Coulter has joined Liv-ex as a Logistics Administrator, responsible for ensuring that buyers receive their wines on time, as well as verifying condition reports and SIB Passports for wines received into Vine’s warehouse. Before Liv-ex, Andrew worked in legal recruitment. He has an MSc in Business Management and recently passed WSET 2.

Stefanos Xinaris will be working in the Liv-ex data team for six months on list matching and creating new LWINs. Stefanos joins us from Plumpton College, where he studied Wine Business. He also holds a WSET Diploma and is currently studying towards an MBA.

Important: UK based sellers of Duty-Paid stock
From April 1st, UK merchants will need to have registered their AWRS numbers with Liv-ex before selling Duty-Paid stock on the Exchange. This change is being made to comply with new regulations from HMRC. You can find out more about AWRS – the Alcohol Wholesaler Registration Scheme – here.

Liv-ex’s AWRS number is XXAW00000100721. To submit your AWRS number to Liv-ex, please contact simon@liv-ex.com.

Liv-ex in the news
507183a5-2c5b-4016-881d-f6e09290f7ddIn February, Bloomberg looked at rising fine wine prices with both a focus on the influence of China and on wine as a store of value in uncertain times. Writing for Decanter, Jane Anson looked at how the Bordeaux 2007s are getting on in terms development and price. Decanter also reported on your predictions for the Liv-ex 100. Meanwhile, The Drinks Business wrote on price gaps between 2009 and 2010 Bordeaux, and on the region’s bumper 2016 harvest.

Thank you for reading
We hope that you’ve found this edition useful. As always, you can keep up to date with developments as they happen by visiting the Liv-ex noticeboard. If you have any feedback or questions on this newsletter, please email salesteam@liv-ex.com or call +44 (0)20 7062 8788.

By | 2017-03-13T10:09:05+00:00 March 13th, 2017|Data, Technology|Comments Off on Liv-ex Newsletter – March 2017

Send pre-advices automatically

New pre-advice API

From today, you can take advantage of a new Liv-ex  API which automates the process of uploading pre-advices, saving you both time and money.

What is an APIHow it helps you
By automating, the API will help you to:

  • Sync the pre-advice directly from your stock control system
  • Remove human error
  • Process pre-advices faster

How it works
The API has been built to help you send pre-advices from your own system directly into Vine, automating the upload process and saving you time and money.

The current system requires you to manually fill out an Excel template and email it to Vine, who then input it into the system. This is time consuming for both parties and has the potential for human error.

The pre-advice API is available for users of ERP systems such as Navision, Magento, SAP, Vision and Netsuite.

This service is now available to all members of Liv-ex.

You can download technical information here.

Thank you for reading
We hope that you found this information useful. Full information and technical documents can be found on the Liv-ex Developers website. To find out more on integrating these APIs into your systems, please contact the Liv-ex data team at data@liv-ex.com or call +44 (0)20 7062 8788.

By | 2017-03-06T09:41:05+00:00 March 3rd, 2017|Data, Technology, Vine|Comments Off on Send pre-advices automatically

Liv-ex Newsletter – February 2017

Welcome to the February 2017 Liv-ex newsletter
It might not come as a surprise that the fine wine market has been getting broader. 4,396 different individual wines traded on Liv-ex last year, an increase of 167% on 2010 when a narrow group of Bordeaux dominated. What is interesting is that these numbers have been boosted by buyers diversifying within the traditional fine wine regions. Two Liv-ex blog posts point this out here and here (charts included, of course). Market aside, you can find the key updates from Liv-ex in January below.wine

Penny for your thoughts?
Or how about a bottle of 100-point (RP) Marcassin Chardonnay 2001, this year’s members survey prize? For 2017 we have changed the style of the survey. Rather than asking about your company’s sales performance, we’d like to hear your views on Liv-ex. If you have two minutes to spare, you can take part here.

Bordeaux 2014 report
downloadLast week, we published a special report on Bordeaux 2014. By applying ‘fair value’ analysis, we looked at which wines from the vintage might offer relative value now. Available exclusively as part of your Liv-ex membership, you can download the report here.

AWRS numbers needed
From April 1st, UK merchants will need to have registered their AWRS numbers with Liv-ex before selling Duty-Paid stock on the Exchange. This change is being made to comply with new regulations from HMRC. You can find out more about AWRS – the Alcohol Wholesaler Registration Scheme – here.

Liv-ex’s AWRS number is XXAW00000100721. To submit your AWRS number to Liv-ex, please contact simon@liv-ex.com.

New Liv-ex logistics services and price listvine
Everything you need to know about Vine’s award-winning logistics and settlement services can now be found in one document. It includes updates to Liv-ex Prime, such as price changes, and details on how you can integrate your stock management system with Vine to automate your processes. Download the full document here.

Liv-ex team
Harriet Parker (harriet@liv-ex.com) joined the Sales team in January, becoming part of a team of six Account Managers who are available to help you in any way they can; whether it is navigating the site, learning more about data feeds and Vine, or simply to talk about the market. Harriet joins us after returning from Hong Kong where she spent three years working in on-trade sales. Before that, she studied History at Durham University. She holds a WSET level 3, and her hobbies include travel, tennis and sailing.

Liv-ex in the news
Writing for Decanter, Jane Anson assessed the claims that ‘Bordeaux is back’, and looked at what this might mean ahead of 2016 En Primeur. Both Forbes India and Luxury London magazines published features on starting a wine cellar, while The Drinks Business published its full coverage of the Liv-ex Power 100 online.

Thank you for reading
We hope that you’ve found this edition useful. As always, you can keep up to date with developments as they happen by visiting the Liv-ex noticeboard. If you have any feedback or questions on this newsletter, please email salesteam@liv-ex.com or call +44 (0)20 7062 8788.

By | 2017-02-09T10:29:33+00:00 February 9th, 2017|Press, Vine|Comments Off on Liv-ex Newsletter – February 2017

New Liv-ex logistics services and price list

Important Vine updates
Everything you need to know about Vine’s award-winning logistics and settlement services can now be found in one document. Containing key updates on Vine services and prices, a full copy of the document can be found below:

Download_Guide

Key changes:
1. Prime services are now available to all members, and are no longer restricted to sellers based in Prime regions.
2. Vine has updated the prices for Liv-ex Prime and some warehouse services.
3. The document now includes details on how you can integrate your stock management system with Vine to automate your processes.

Independent stock audit
Venners colourIn November, Vine invited Venners – a specialist independent stock taking company – to conduct an
audit of the
Tilbury warehouse. The results of the audit concluded that “it is obvious that much pride is taken in the cleanliness and layout of the warehouse as all areas were extremely well organised. The temperature of the warehouse appeared to be a stable 13/14 degrees centigrade, ideal for storage conditions”.
In summary, according to Venners:

“All in all the standard of warehousing and storage is high and it appears that Vine is still setting the bar for which others may aim” – Venners

Vine awards
SIB_Passport_logo_transparentEarlier this year, Liv-ex received the supply chain initiative of the year award by the drinks business for its SIB (Standard in Bond) Passport and Instant Transfer services. Both initiatives enable stock to be traded without being physically moved, which reduces costs as well as the risk of damage.

The SIB Passport is an electronic certificate issued by Vine to confirm that a case of wine meets industry standards.

The Instant Transfer is for customers that use Vine’s online stock management system, and is available to all Liv-ex members.For more information on SIB Passports and Instant Transfer, click here.

Thank you for reading
We hope that you found this information useful. For more information please contact your Vine Manager, email vine@vineinternational.com or call +44 (0)20 7062 8788.
By | 2017-01-23T17:27:11+00:00 January 23rd, 2017|Vine|Comments Off on New Liv-ex logistics services and price list

Liv-ex Newsletter – January 2017

Welcome to the January 2017 Liv-ex newsletter
The fine wine market ended 2016 on a high. The Liv-ex 100 Index gained 24.8% – significantly higher than the 5.4% increase that Liv-ex members predicted, on average, at the beginning of the year. In the next few weeks, we will ask you to to predict where the market will go over the next 12 months in our annual Members’ Survey. Until then, you can find key Liv-ex updates from the last month below.

New Pricing API launched
The new Liv-ex Pricing API is available to help you view current market data when making pricing decisions. It enables you to receive information on any wine in the Liv-ex database into your own system or website – on demand. A wide range of price points are available and can be received in multiple currencies. Further information and technical documents can be found on the Liv-ex Developer website.

Introducing Liv-ex List
e76d683c-e1c9-4402-8349-0bafd3f8643eYou can now request a fine wine list from Liv-ex. Just like merchant lists, it shows you all of our best offers. By default, the most recent offers appear at the top – and we only show you those available below Market Price. This helps you to find opportunities among the £12.6m of current live offers on the Exchange. Prices are shown in GBP, EUR/bt, HKD and USD.To view the latest list, please click here. You can also contact your Account Manager to find out about receiving future lists from Liv-ex.

Interview with Giovanni Geddes da Filicaja
IIn December, Liv-ex published a two part interview with Giovanni Geddes da Filicaja of Masseto and Ornellaia. In the inverview, Giovanni discusses business strategy, and shares his insights on the development of the Masseto brand. You can read the first part of the interview here, and the second part here.

 

Vine sees millionth case
074cefef-788e-4b01-9a13-a8e9a2837e9cVine has handled its millionth case since 2009. This was when the system of unique case identifiers (UIDs) was introduced. UIDs give every case stored in one of Vine’s facilities – London, Bordeaux and Hong Kong – a unique numerical code, allowing ownership and identity to be validated easily.The wine that took this landmark trade was Meo Camuzet, Vosne Romanee Cros Parantoux 2014 – quite appropriate, in Burgundy week.

 

Liv-ex in the news
In December, the annual Liv-ex Power 100 was published in the the drinks business magazine. This year, the First Growths bounced back, taking all of the top five spots. You can also view the full results on the blog here.Earlier this month, the Wall Street Journal (subscribers) suggested that it’s a good time to restock your wine cellar – if you’re buying in Dollars. Bloomberg took a similar currency-focused approach, while the Telegraph wrote that this might represent a “Toast to Brexit“…The FT’s fine wine supplement was also published this month, containing market analysis.

Thank you for reading
We hope that you’ve found this edition useful. As always, you can keep up to date with developments as they happen by visiting the Liv-ex noticeboard. If you have any feedback or questions on this newsletter, please email salesteam@liv-ex.com or call +44 (0)20 7062 8788.
By | 2017-01-13T12:10:54+00:00 January 13th, 2017|Data, Exchange, Technology, Vine|Comments Off on Liv-ex Newsletter – January 2017

New Pricing API

pricepoints2_

From today, you can take advantage of the new Liv-ex Pricing API. The API has been built to help you view current and historic market data when making pricing decisions. With it, you can easily receive information on any wine in the Liv-ex database into your own system or website – on demand.

How it works

Unlike many of our existing APIs, you are not limited to viewing data on a pre-defined list of wines. With this new API, you can receive relevant information from the full Liv-ex database – containing 60 millions lines of current and historic data points – at the click of a button.

With this data readily available, you can compare and adjust your list prices according to market movements, instantly value client stock lists and view historic price information on your own product pages.

This service is now available to all Liv-ex members.

Price points

You can access data for a wide range of price points with just one click:

  • Market Price
  • Best bid
  • Best offer
  • Mid price
  • Auction price
  • Trade price
  • Offex
  • Average list price
  • Listed quantity
  • Your last list price
  • Your last Offex

Currency

The data will be returned to the pack or bottle size requested and can be displayed in several key currencies: GBP, EUR, USD, HKD, JPY, CHF, SGD.

Thank you for reading

We hope that you found this information useful. Full information and technical documents can be found on the Liv-ex Developers website. To find out more on integrating these APIs into your systems, please contact the Liv-ex data team at data@liv-ex.com or call +44 (0)20 7062 8788.

By | 2017-01-12T10:18:10+00:00 January 12th, 2017|Data, Technology|Comments Off on New Pricing API
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