UK Wine Show 148 Liv-ex with James Miles
This show was published 20 March 2009
Liv-ex is the leading Fine Wine Exchange through which fine wines are traded between merchants as commodities. James Miles, founder and director, explains how the exchange works in the first of three interviews.
James, previously a stockbroker, started Liv-ex in 2000 with the aim of building a marketplace for fine wine. The idea was to trade wine as a commodity through an exchange which matched up buyers with sellers. Liv-ex members are merchants or middlemen rather than private collectors. Liv-ex take a commission on wines traded, normally 2-3% commission is charged to both the buyer and seller. They currently trade £1 million a week and have around 99,000 commodities listed of which 90% is Bordeaux. Last year 50% of trades were in the five first growths. The remaining 10% is Burgundy, Champagne, Italy and a small amount from Spain, Australia & California.
The UK Wine Show is sponsored by ThirtyFifty. Our team of wine tasters are busy entertaining and educating UK consumers to help them get the most out of wine.
The music used for the UK Wine Show is Griffes de Jingle 1 by Marcel de la Jartèle and Silence by Etoile Noire.