The Liv-ex Fine Wine Investables Index tracks the most "investable" wines in the market — around 200 wines from 24 top Bordeaux chateaux. In essence, it aims to mirror the performance of a typical wine investment portfolio. The index data starts in 1988, further back than any other Liv-ex index.
Liv-ex Fine Wine Investables component wines and vintages
The Liv-ex Fine Wine Investables Index is designed to track the wines commonly found in a wine investment portfolio. The index consists of Bordeaux red wines from 24 leading chateaux. The component wines date back to the 1982 vintage and are chosen on the basis of their score from Robert Parker. The wines are priced using the Liv-ex Mid Price with various scarcity weightings applied to account for older vintages and wines produced in smaller quantities.
The index dates back to January 1988 and was rebased at 100 in January 2004. Liv-ex has been calculating Mid Prices for selected wines from 2001 onwards. Component prices prior to that date are the result of an extensive collection of historical price data from leading fine wine merchants.
- In order to qualify for the index, wines must have scored 95-points or above from a leading critic. The top eight 'brands' of Bordeaux – the five First Growths, Ausone, Cheval Blanc and Petrus – are included on the basis of a score of 93 or above.
- Any wine produced in the last fifteen vintages can be included in the index – prior to that only wines from strong vintages qualify, with the oldest being 1986. They must also be physically available in the UK market, so recent vintages that are only trading on an En Primeur basis are ineligible.
- The index is calculated using the Liv-ex Mid Price for each component wine. The Mid Price is the most robust measure for pricing wines available in the market and is calculated by finding the mid point between the current highest bid price and lowest offer price on the Liv-ex trading platform. If there has been a transaction on Liv-ex within the last 30-days and the transaction price sits within the bid-offer spread, then it is used as the Mid Price. Each price is then verified by our valuation committee to ensure that the number is robust after taking into account all data at our disposal. Download the Liv-ex Mid Price logic .
- The index is price weighted. A scarcity weighting is applied to vintages older than 15 years, with the weightings of Petrus and Ausone also reduced to account for their low average production levels.