- Except for the Champagne 50 and Right Bank 100 (up 0.8% and 0.3% respectively), all major indices declined in June.
- The Italy 100, dragged down particularly by Barolos, was the worst performing sub-index of the Liv-ex 1000.
The market downturn continued in June, with harsher declines across most indices than in May. While traded volumes were down on May (not unusual as we move into the summer months), they remained 5.9% higher than in June 2024.
Fine Wine 100
The Liv-ex Fine Wine 100, the industry benchmark, fell 0.8% in June, to close at, 311.6, down 4.9% year-to-date. Having now firmly broken below its 2018 high (314.5), the index’s next support lies at its 2020 low (296.3). Domaine Francois Raveneau, Montee de Tonnerre 2021 and Domaine Leflaive, Les Pucelles 2020 were the index’s top performers, while Domaine Trapet Pere et Fils, Chambertin 2020 and Coche-Dury, Meursault 2020 were the worst.
The Liv-ex Fine Wine 1000’s sub-indices
The Liv-ex Fine Wine 1000, the broadest measure of the market, fell 1.0% in June, a harsher decline than its 0.4% fall in May.
The Champagne 50, amongst the worst affected by tariff wars over the past three months, saw some respite in June. Up 0.8% month-on-month, it was the best performing index, and one of only two to record positive price performance. Still, given that Champagne’s trade levels have remained low, this uptick should be taken with caution – there is little momentum behind it. Cristal 2014 was the index’s best performer, up 11.2%. It has traded stably around £1,700 since July 2024 but tested a lower price point (£1,500-£1,600) in May. June marked a return to the c.£1,700 mark.
Liv-ex trades of Cristal 2014
The Burgundy 150 fell 1.1% in June and is now resting at its 2018 peak. With volatility decreasing and the index holding space above the Lower Bollinger Band, there is some hope that prices will settle in this zone. Its next support (2020 low) lies another 13.6% below its current level. Read more on the index’s possible future price movements here.
Technical analysis of the Burgundy 150
The Italy 100 came in as June’s worst performing index. Piedmontese components in particular took a strong hit, with three vintages of Giacomo Conterno’s Monfortino Riserva amongst the five worst performers. There remain strong performers; amongst them, Masseto 2019 recording a 7.8% Mid Price increase and trading above its Market Price.
Liv-ex trades of Masseto 2019
Bordeaux 500’s sub-indices
The Right Bank 100 was the only Bordeaux 500 sub-index to rise month-on-month. The Fine Wine 50 and Right Bank 50 – the representative indices of the highest value wines from either side of the Garonne – saw sharper price appreciation than their lower value counterparts from 2021 to 2023, but have, in turn, fallen faster.
The Left Bank 200 has been a stronger performer than the Right Bank 100, the components of which are priced a good clip higher. This is especially true of recent vintages – the non-allocation Right Banks have fallen victim to unrealistic release pricing and poor price performance. Older and ‘off’ Right Bank 100 vintages, however, have been relatively stable. The index’s top five performers this month comprise two 2012s, one 2013, one 2017 and one 2021.
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 £140m of bids and offers across 20,000 wines.