- The Liv-ex Fine Wine 1000 fell 0.8% in February, marking the fourth month in a row the index has fallen.
- The Italy 100 was the only sub-index to rise, up 1.1%.
- The Burgundy 150 was the worst performer, down 2.1%.
*made using the Liv-ex Charting Tool.
The broadest measure of the secondary market, the Liv-ex Fine Wine 1000 index, dipped 0.8% in February, closing the month at 472.49.
This is a fourth month in a row that the index has fallen, making a total loss of 2.6% since October. As mentioned in previous analysis, while fine wine outperformed mainstream equities in 2022, the major indices finished the year with declines, reflecting the impact of the wider economic storm.
The trade has also voiced concerns over the broader macro-economic picture, stock shortages and rising prices. Over 50% of the respondents to our annual members survey shared a pessimistic or neutral outlook for fine wine in 2023.
However, one of the Liv-ex 1000 sub-indices managed to rise in February.
The Italy 100 is the only index to rise in February
*made using the Liv-ex Charting Tool.
The Italy 100 was the only sub-index to rise this month, up 1.1%. Several wines from Barolo and Barbaresco helped drive the index, including Gaja Barbaresco 2015 (+17.4%) and 2011 (+13.2%), along with Bartolo Mascarello Barolo 2010 (+13.6%) and Giacomo Conterno Barolo Monfortino Riserva 2010 (+11.7%).
All the other Liv-ex 1000 sub-indices fell. The Burgundy 150 was the worst-performer, down 2.1%. Our recent report looks at the region in more depth and considers the future of Burgundy’s secondary market and if its exponential price rises can be sustained.
The Rhone 100 index experienced the second biggest decline and was down 1.8%.
Meanwhile, the Champagne 50, which had been the biggest faller for the third month in a row, only fell 0.5% this month.
It was supported by strong price rises for Bollinger La Grande Annee 2014 (+11.1%), which was the best-performing wine in the Liv-ex 100 index this month. Jacques Selosse Millesime 2009 (+10.1%), Louis Roederer Cristal Rosé 2008 (6.9%) and Dom Perignon 2005 (+6.8%) also saw price rises this month.
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 1000 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 600 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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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 600 merchant members from across the globe. Together they represent the largest pool of liquidity in the world – currently £80m of bids and offers across 16,000 wines. Independent data, direct from the market.
