- All major Liv-ex indices recorded declines during Q3 2023.
- So far this year, the Liv-ex 100 and the Liv-ex 1000 have declined by 10.3% and 10.4% respectively.
- Trading activity in Champagne bounced back, while Bordeaux still dominated in terms of buyer bids and search activity.
Fine Wine 50 vs equities
*made using the Liv-ex Charting Tool. Data taken on 05.10.2023.
In contrast to the fine wine market, the S&P 500 and the Dow Jones Industrial have recorded positive performances over the past year, increasing by 17.7% and 16.7% year-on-year respectively. The fine wine market (represented by the Liv-ex Fine Wine 50) experienced a decline of 12.1% in the same period. In the first quarter of 2023, the decline recorded in the index was only 0.9%, meaning the sell-off only took hold during the second and third quarter.
Among other financial indices, only one has performed worse than the Liv-ex Fine Wine 50 year-to-date: the Hang Seng, which has declined by 13.1%. The index entered bear-market territory in August after it dropped almost 21% from its high point reached in late January this year. This index has continued to slide after a bearish flag breakdown in early September, encountering resistance from a concurrent downtrend. The deterioration in its performance can be attributed to growing pessimism among investors regarding China’s post-pandemic recovery and concerns over the country’s debt levels and slumping property market.
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 620+ merchant members from across the globe. Together they represent the largest pool of liquidity in the world – currently £100m of bids and offers across 20,000 wines. Independent data, direct from the market.