- The Liv-ex Fine Wine 100 fell 1.3% in April; a 15% fall over the last year.
- The Liv-ex Fine Wine 1000 fell 0.7% last month, to close at 395.11.
- The Italy 100 index rose 0.7% in April.
The Liv-ex Fine Wine 100, the industry leading benchmark, fell 1.3% in April, reversing the 0.4% uplift the index saw in March.
Looking at the wider market, the Liv-ex Fine Wine 1000 (which tracks 1,000 wines from across the world) declined by 0.7%, a similar decline to that recorded in March (0.6%). Among its sub-indices, the Burgundy 150 recorded the most significant decline, dropping 1.1%, a steeper decline than the previous month. Meanwhile, the Italy 100 once again bucked the wider market trend, rising 0.7%. Year-to-date, the Italy 100 is the best performing Liv-ex index with just a 0.2% dip. The California 50 also rose 0.1% last March.
The Liv-ex Fine Wine 50 (which track the movement of the First Growths and is updated daily) fell 1.3%, sharper than the 0.6% decrease in March. The Bordeaux 500 (which tracks the 500 leading Bordeaux wines) fell 0.6%.
April saw a slight uptick in both the number of brands (LWIN7s) and individual wines (LWIN11s) traded on the secondary market compared to March. There was also a small rise in both traded value and volume as well as exposure (the value of live bids and offers on the exchange) compared to the previous month.
Italy 100 provides stability amid broader market decline
The Italy 100 has displayed continued stability amidst a broader market downturn, setting it apart from all other Liv-ex 1000 sub-indices. Year-to-date, it has recorded a marginal 0.2% decline, in contrast with steeper fall experienced by other sub-indices such as the Burgundy 150 (-7.0%), the Rhone 100 (-5.4%) and the Rest of the World 60 (-4.7%).
*made using the Liv-ex Charting Tool.
The Italy 100 outshone both its peers and its parent index in April, with a 0.7% month-on-month increase. It once again surpassed all other sub-indices of the Liv-ex Fine Wine 1000.
Of the 100 components in the Italy 100 index, 44 saw their prices rise this month, while 44 fell, and 15 remained flat.
* prices shown are Liv-ex Mid Prices; 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.
Bruno Giacosa, Barolo, Falletto Le Rocche del Falletto di Serralunga d’Alba Riserva 2000 was the top performer in April, up 20.5%. It lasted traded at £6,508 per 12×75.
Four Super Tuscans were among the top performers of the Italy 100 index. Masseto, Toscana 2017 and 2015, up 7.4% and 6.0% respectively, as well as Solaia 2015 (+6.9%) and Sassicaia 2017 (+6.1%).
Masseto 2015 trades on Liv-ex
The five-year view
Looking at the Liv-ex 1000 sub-indices across the five-year view, the Champagne 50 index is best performing, rising 45.5%. While the Rhone 100 is the worst-performing, down 5.0% over the last five years.
The Bordeaux Legends 40, which tracks the price performance of a selection of 40 Bordeaux wines from exceptional older vintages (from 1989), is only up 3.3% over five years.
*made using the Liv-ex Charting Tool.
The best performing component over the five-year period is Château Cheval Blanc 1998, up 51.3%. It last traded at £9,900 per 12×75, 10% above it current Market Price.
Driving the index down is Château Lafite Rothschild 2000and 1998, with declines of 17.1% and 15.7% respectively.
It is interesting to note that of 40 components making up the index, 13 of the worst performing 20 wines are First Growths. Whereas, only five of the 20 best performing components are First Growths. Chateau Haut-Brion Premier 1998 is the best performing of these, with a 19.2% increase over the last five years.
You can download the full component list for the Bordeaux Legends 40 here.
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 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.
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