In its August market report, the Liv-ex Fine Wine 100 – a benchmark index which tracks the price performance of the 100 most sought-after fine wines on the secondary market – dipped 0.3%, the first time it has fallen since June 2020. Until then, it had enjoyed a 24-month run of rises, rising 36.1% during that period.
The monthly report also noted a similar trend in the Liv-ex 50, which tracks Bordeaux First Growths, down 0.9% in that time with the Rhone 100 also falling 1.1% and the rest of the world 60 down 0.8%.
Despite noting that this happened amid the quieter summer months, the report warned that “the pressure of the wider global economic outlook are starting to weigh on fine wine to an extent.”
“…rising inflation and fears of recession are undoubtedly setting the scene for a testing autumn and winter period,” Liv-ex said, although it added that “firm directional shifts” were difficult to divine in the traditionally quieter summer months.
Despite this warning, however, it noted more promising signs, with Champagne and Burgundy showing no signs of falling in demand – the Champagne 50 rose 3.1%, while the Burgundy 100 also rose 1.2%, while the wider Bordeaux 500 and Italy 100 were steady at 0.1% and 0.3% respectively.
Meanwhile the Liv-ex 1000 – the broadest indices of the secondary market – rose 0.4%, taking its year to date growth to 11.6%, or 49.5% over the last five years, which Liv-ex reported noted was a marker of the “greater resilience of the secondary market when faced with external pressures”.
Furthermore, all seven indices have seen positive growth in the year-to-date, although there is no doubt that Bordeaux wines have been more subdued and losing market share, as other regions gain in importance.
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