- The Liv-ex Fine Wine 100 fell by 1.0% in August, a similar decline to July.
- The Liv-ex Fine Wine 1000 fell by 0.1%, a milder decline than in July.
- The Rest of the World 60 was the best-performing index, rising 0.8%.
The Liv-ex Fine Wine 100, the industry leading benchmark, has fallen for the fifth month in a row. It fell by 1.0%, similar to last month’s decline of 1.1%. The index has recorded only one slight month-on-month rise over the past year (March 2024 0.4%). Year-to-date, it is down 5.4%, but remains up 9.1% over a five year period.
Looking at the wider market, the Liv-ex Fine Wine 1000 (which tracks 1,000 wines from across the world) fell by 0.1% to close at 384.9. The Rest of the World 60, Rhone 100, Burgundy 150 and Champagne 50 rose, while all other sub-indices fell. Of these sub-indices, the Bordeaux 500 and Bordeaux Legends 40 recorded the sharpest declines (1.0% and 0.5% respectively).
The Liv-ex Fine Wine Investables fell more sharply than any other index in August, recording a 1.8% decline. The index’s component wines are now, on average, flat on prices five years ago.
August saw a small month-on-month increase in traded value (3.1%), and a larger increase in traded volume (11.1%). Though prices are declining, market participants are increasingly active on the exchange.
The Rest of the World 60 rises
Rising by 0.8% over the course of the month, the Rest of the World 60 was the best-performing index. Of the 60 component wines, 29 rose, 10 remained flat, and the remaining 21 fell.
Dominus 2014 topped the leaderboard, recording a price increase of 22.4%. Vega Sicilia’s Unico featured the most heavily amongst the best-performers, with five of the 10 vintages recording rises and two remaining flat. The Mid Price of the 2010 vintage increased by 13.1% in August, and is now up 29.4% year-to-date. While the wine’s price dipped briefly in December 2023, it appears to have been largely resilient to the broader market’s downward momentum.
Liv-ex trades of Vega Sicilia, Unico 2010
Bordeaux 500, Liv-ex Fine Wine 50 and Investables Index decline
Bordeaux has taken the largest hit over the past month. The Investables Index is down by 1.8% — now flat over a five-year period. The Bordeaux 500 and Liv-ex Fine Wine 50 fell by 1.0% and 0.6% respectively. As shown below, all three indices are close to reaching (or have already reached) their 2021 lows.
Many Bordeaux wines, particular those from the 2019 vintage, have fallen to their ex-London or ex-negociant release prices. This threshold carries some weight – merchants will be reluctant to sell at lower prices than they initially paid.
Liv-ex trades of Mouton Rothschild 2019
What are Liv-ex indices?
The Liv-ex Fine Wine 100 Index is the industry leading benchmark. It represents the price movement of 100 of the most sought-after fine wines on the world’s most active and liquid marketplace from France, Italy, USA, Australia and Spain. Stretching back over 20 years, the Liv-ex 100 is quoted on Bloomberg and Reuters screens.
The Liv-ex Fine Wine 1000 Index is the broadest measure of the market. It represents the price movement of 1,000 of the most sought-after fine wines on the world’s most active and liquid marketplace. Stretching back over 20 years, the Liv-ex 1000 is comprised of seven sub-indices from across the world: the Bordeaux 500, the Bordeaux Legends 40, the Burgundy 150, the Champagne 50, the Rhône 100, the Italy 100 and the Rest of the World 60.
All Liv-ex indices are calculated using our Mid Price; the mid-point between the highest live bid and lowest live offer on the market. These are the firm commitments to buy and sell at that price; transactional data rather than list prices. It represents the actual trading activity of 620+ of the world’s leading fine wine merchants. Because Liv-ex doesn’t itself trade, this data is truly independent and reliable.
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 620+ merchant members from across the globe. Together they represent the largest pool of liquidity in the world – currently £100m of bids and offers across 20,000 wines.
