The Liv-ex July Market Report 2025 explores whether the Bordeaux 2021 vintage has reached its bottom. Initially released at relatively high prices despite modest critic scores, the 2021s quickly lost traction and saw sharp declines across the board. However, in the past two months, trade prices for several 2021s have begun to stabilize and even rise — with some now trading above their Market Prices. This shift is often seen as a leading indicator of recovery: where trades move first, Market Prices tend to follow.
The topics covered in the Liv-ex July Market Report 2025:
- The Champagne 50 and Right Bank 100 were the only indices not to fall in June.
- The Italy 100, dragged down particularly by Barolos, was the worst performing sub-index of the Liv-ex 1000.
- US buying continues to fall, taking a 10.8% share in June.
- Asian buyer share continues to rise, up every month from December last year, and taking an 18.7% share in June.
- The weakening USD has led to Liv-ex indices rising in value for US buyers—the only currency in which indices have been appreciating.
- Sentiment remains weak, with the bid:offer ratio sitting at 0.15.
- The percentage of trades triggered by sellers rises again, hitting 46% in June, the highest it’s been since 2020
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Liv-ex members represent the largest pool of professional fine wine traders in the world and are estimated to account for 90% of fine wine turnover globally. There are currently over 600 Liv-ex members across 47 countries, that range from start-ups to centuries-old established merchants.
