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Liv-ex 1000 decline slows to just 0.8% in August 

By September 7, 2023Bordeaux, Fine Wine Market, Indices
  • The Liv-ex 1000 index fell by 0.8% in August, marking a slower rate of decline compared to July. 
  • Year-to-date, all of its sub-indices have recorded declines. 
  • The Bordeaux Legends 40 sub-index stood out with a 0.3% increase in August. 

Liv-ex members 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   

Image shows the Liv-ex Fine Wine 1000.

*made using the Liv-ex Charting Tool.  

In August, Liv-ex Fine Wine 1000 index, the broadest measure of the secondary market, continued its decline at a slower pace of 0.8%, in contrast to the 2.1% drops observed in both July and June. This stabilisation could be attributed to sellers adjusting their prices and increased buyer participation. Nevertheless, the year-to-date performance of the index still reveals a 9.5% decrease. 

Both the Liv-ex Fine Wine 100 (the industry benchmark) and the Liv-ex Fine Wine 50 (which tracks the movement of First Growths) also fell in August. However, they followed the broader trend of slowing declines, with decreases of 1.3% and 1.5%, respectively, compared to the previous month’s 3.1% and 3.7% drops. 

Off the back of the downturn in July, August experienced increased trading activity, with trade by both value and volume showing an uptick. Market breadth also expanded, with 2,035 individual labels (LWIN 11s) trading on Liv-ex over the past month. 

Bordeaux Legends 40 grows 0.3% in August

Image shows the Liv-ex Fine Wine 1000 sub-indices.

*made using the Liv-ex Charting Tool.  

The Bordeaux Legends 40 index, which tracks the price performance of 40 Bordeaux wines from exceptional older vintages, rose by 0.3% in August, a contrast to the three consecutive months of negative or flat movements in all the LX1000’s sub-indices.  

Among the top performers in the index, Le Pin 1998 saw its price increase the most in August, climbing by 11.0%. It was followed by Château Haut-Brion 1990, which saw an 8.7% rise, and Château Margaux 1990, with a 7.3% increase. The renewed interest in these established labels and well-regarded vintages suggests that buyers are seeking security amid the current uncertainty in the market. 

The Champagne 50 has gone from the best-performing sub-index of the Liv-ex Fine Wine 1000 last month, falling by just 0.2%, to the worst performer in August, with a substantial decline of 3.0%. This shift is somewhat unexpected, given the increased activity surrounding Champagne this month.  

Year-to-date, August recorded the second-highest number of individual Champagne labels (LWIN 11s) trading and the highest level of trade by value and volume for wines from the region. This suggests that despite the clear interest and demand for Champagne, the ongoing price correction is a stronger driving force for the index.  

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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