The Liv-ex October Market Report has been published exclusively for members on our Silver package or above. The following is an extract.
Liv-ex members on our Silver package or above can access the full report here. To upgrade your package, click here or speak to your Account Manager.
September saw the fine wine market’s downturn pick up pace. The Liv-ex Fine Wine 100, the industry leading benchmark, fell by 1.7%, its sharpest month-on-month decline since October 2023. It is now back at the level it was in May 2021, 21.0% below its peak in September 2022, but still 13.1% above where it was before the 2020-2022 bull run.
The Liv-ex Fine wine 50, which tracks the performance of the 10 most recent physical vintages of the Left Bank First Growths, fell 2.1% during September, and is now below its 2020 levels.
Meanwhile, the Liv-ex Fine Wine 1000 (which tracks 1,000 wines from across the world and is the broadest representation of the market), fell 1.9%.
After the northern hemisphere summer lull, market participation increased in September. The number of trades increased 12.9% compared to August. With the number of buyers also reaching its highest level in seven months towards the end of September, it appears that the accelerated price decreases might be enticing bids.
It is no secret that the fine wine market has been bearish since October 2022. With an acceleration in the downturn across all major Liv-ex indices this month, it would seem that there is still a way to go before the market turns the corner. And yet, we continue to see high release pricing out of Bordeaux and list prices remain head and shoulders above the market. There appears to be a disconnect at each level. To gain an understanding of the behavioral interactions between the primary and secondary market, we have conducted an analysis of the varying difference between Market Prices and Average List Prices of the Bordeaux First Growths over time.
The full analysis is available in the Market Report for Silver+ members. An excerpt was recently published in a Market Update and can be read here.
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.
