The total value of bids and offers has reached a new high of £71million, while the number of active markets (wines with either a bid or an offer) has surpassed 14,000.
The current value represents a £20million increase since our last update in October 2018. The bid:offer ratio, an indication of the strength of the market, has also risen and now stands at 1.3. As we previously explained, a higher ratio tends to suggest price stability.
The ever-rising number of active markets does not only reflect this growing value. It is another sign of the fine wine market’s diversity – both in terms of regional trends and different wines trading.
A contributing factor to these record-breaking figures is automated trading, which has enabled members to increase their stock offering at no extra cost, and outside office hours.
For more information on how automation helps members grow their sales, join our upcoming free webinars, here.