- The Liv-ex 1000 fell by 1.0% in September, an increased rate than August but still slower than the declines experienced in June and July.
- Year-to-date, all of its sub-indices are down.
- It’s not all negative, though: in September, the Italy 100 and Rest of the World 60 increased month-on-month, while the Champagne 50 ran flat.
Liv-ex members on Bronze packages and above now have access to Technical Analysis of the Liv-ex 1000. If you are a member, you can click here to read the full article.
*made using the Liv-ex Charting Tool.
In August, the Liv-ex Fine Wine 1000, the broadest measure of the secondary market, continued its decline. It fell by 1.0%, more than the previous month’s 0.8% but lower than the 2.1% drops observed in both June and July. Year-to-date, the index has fallen by 10.4%.
Both the Liv-ex Fine Wine 100 (the industry benchmark) and the Liv-ex Fine Wine 50 (which tracks the movement of First Growths) continued to fall in September. However, they followed the previous month’s trend of slowing declines, both falling by 0.1% in September compared to their respective 1.3% and 1.5% drops in August.
Off the back of the downturn this summer which increasingly pointed towards a buyers’ market, September saw increased trading activity, with trade by both value and volume showing an uptick. Market breadth also expanded, with 2,202 individual labels (LWIN 11s) trading on Liv-ex last month.
The Italy 100 rises by 0.6% in September
*made using the Liv-ex Charting Tool.
August marked the first positive movement after three consecutive months of negative or stagnant performance across all Liv-ex Fine Wine 1000 sub-indices.
In September, while the Fine Wine 1000 declined at a faster pace than the previous month, several of its sub-indices showed signs of positivity. The Italy 100 increased by 0.6%, the Rest of the World 60 by 0.2% and the Champagne 50, after its steep decline of 3.0% last month, showed stability and ran flat. The Bordeaux 500, on the other hand, experienced a 0.8% decline, same as the movement it recorded last month.
The top-performing wine in the Liv-ex 1000 this month was Fontodi, Flaccianello delle Pieve, Colli della Toscana Centrale 2017, with a 21.0% increase in its Mid Price*. Other strong performers included Sassicaia, Tenuta San Guido, Bolgheri 2014 (+9.3%) and Solaia, Toscana 2018 (+6.4%). In all, Tuscany had 40 wines experience a positive or flat movement in September, with only eight wines declining.
Likewise, Piedmont also demonstrated a strong performance in September, with 35 wines experiencing positive or stable movements, and only five wines showing downward trends. Notably, Bruno Giacosa’s Barolo, Falletto Vigna Le Rocche Riserva 2016 ranked among the top five performers of the Liv-ex Fine Wine 1000, achieving an increase of 13.7% in its Mid Price.
In an interesting turn of events, the Bordeaux Legends 40, after its positive result in August, was down 1.4% in September. Even steeper declines were recorded by the Burgundy 150 index (-2.1%) and the Rhône 100 index (-1.3%).
What is the Liv-ex 1000 index?
The Liv-ex Fine Wine 1000 Index is 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 Rhone 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 members on Bronze packages and above now have access to Technical Analysis of the Liv-ex 1000. If you are a member, you can click here to read the full article.
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