- All major Liv-ex indices recorded declines during H1 2024
- While trade value is down, trade volumes remain steady
- The downturn has come with a shift to safe havens, with older Bordeaux representing a pocket of relative stability
- While confidence levels have continued to fall, there are signs that they might be finding their floor
As we reflect on the first half of 2024, a period marked by significant geopolitical upheavals and increased volatility in global financial markets, it’s clear that many of the challenges of 2023 have run over to this year.
Sustained tight monetary policy has left consumers short on cash while businesses continue to hold back on investment. With political uncertainty and global conflict dominating the headlines, investors are spending more carefully than ever.
The fine wine market has not been immune to the uncertainty marking the wider economic landscape. 2024 has so far been marked by falls across all the major Liv-ex indices, with buyers and sellers still wondering where the bottom might lie. However, there have been upticks, if only temporary, across some pockets of the market, suggesting it may be looking for a turning point.
In contrast to the fine wine market, all other major indices recorded increases in H1, of between 3.8% and 18.3%. The fine wine market (represented by the Liv-ex Fine Wine 100) fell by 3.4%, continuing the downward trend that started towards the end of 2022. It ended H1 down 17.9% from its September 2022 peak.
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