The Liv-ex November Market Report has been published exclusively for members on our Silver package or above. The following is an extract.
After a downward acceleration in September, October saw a degree of stability return to the major Liv-ex indices.
The Liv-ex Fine Wine 100, the industry benchmark, recorded a modest rise (0.1%). This is the first time since March that the Liv-Ex 100 hasn’t fallen. Year-to-date the index is down 7.0%.
The wider market, represented by the Liv-ex Fine Wine 1000, fell 0.8%. The California 50 and Rest of the World 60 were the worst performing sub-indices, falling 2.5% and 2.8% respectively.
The Liv-ex Fine Wine 50, which tracks the 10 most recent physical vintages of the Left Bank First Growths, fell 0.7%. Latour fared best, with five vintages rising, three falling, and two flat.
While prices on the whole remain under pressure, October saw a notable increase in market participation with the highest number of unique wines (LWIN11s) traded on the exchange in a single month since January 2022 – a 20.5% increase on September. Traded litre volume in October was up 31.0% on September, and traded value by 24.4%. Total exposure also reached record levels (£150m).
The full report contains additional Liv-ex research and analysis
1. Finding value in Chablis
Chablis’ producers contend with a marginal climate to make some of Burgundy’s longest-lived white wines. Nevertheless, despite this longevity and widespread recognition of the Chablis brand among consumers, its prices tend to sit well below those of other Burgundy sub-regions.
2. A Technical Analysis of the Sassicaia Index
While Sassicaia has strengthened its foothold on the market, prices have fallen since peaking in September 2022. Despite the 13.8% decline from its all-time high, the long-term bullish trend remains intact.
3. Bordeaux En Primeur – who wins?
Reports out of Bordeaux on the 2024 vintage have not been resoundingly cheerful and tough growing seasons are expensive. Coupled with lower yields, châteaux will have to take a hit to their margins to release the 2024s at the right price – the price at which buying En Primeur is still profitable at each level of the supply chain.
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.
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.
