- Most major indices rose in September, with the Liv-ex 100 up 1.1%. Advances were backed by strong momentum, trade value and volume approaching pre-tariff levels.
- The Bordeaux Legends 40, Burgundy 150 and Rest of the World 60 were the best performing Liv-ex 1000 sub-indices.
- The Sauternes 50 was the worst performing index, down 2.1%. month-on-month.
N.B. The Fine Wine 50 is calculated daily. As of 30/09, its month-on-month performance sat at +0.7%.
Trade levels
Trade on Liv-ex in September marked an approach back to pre-tariff levels, with trade value (+9.5%), count (+4.2%), and volume (+6.4%) all up on the Q3 average.
The Fine Wine 100
The Liv-ex 100 rose 1.1% in September, its strongest performance since the turn of the market. The index closed at 312.7, flat on its 2019 peak. 61 components saw their prices increase, one remained flat and 38 saw declines. This performance follows a strong improvement in its bid:offer ratio, up from 0.41 in July to 0.70 currently. Read more on the interaction between bid:offer raios and prices here.
The Fine Wine 1000’s sub-indices
The Fine Wine 1000 rose 0.4% in September, its strongest performance since March 2023.
Bordeaux’s top wines stabilise
The Bordeaux Legends 40 was the best-performing sub-index of the Liv-ex 1000, rising 1.8% in September. Mature Right Banks were the top performers, with Petrus 1990, Le Pin 2009 and Petrus 1989 claiming the top positions. Each wine’s Market Price has now returned to its 2020 lows.
Market Prices of Petrus 1989 and 1990 and Le Pin 2009
As we covered in a Market Update last week, the Fine Wine 50, which tracks the prices of the 10 most recent vintages of each of the First Growths, saw its first rise in three years. More than half of its components Mid Prices’ rose month-on-month, with Mouton Rothschild 2021and Margaux 2015 in the top positions.
The Burgundy 150 also had a strong month, up 0.8%. The index has bounced upward from its 2018 peak around the 600 mark. More frequently traded individual components, however, are approaching or resting at their 2020 lows, indicating that the index as a whole may yet have further to fall.
Liv-ex trades of Clos des Lambrays 2015
Liv-ex trades of Clos de Tart 2015
Rest of the World 60 up 0.6%, led by Opus One
Opus One, with every component vintage seeing its price increase month-on-month, was the best performer of the Rest of the World 60. These increases were backed up with substantial trade, validating the view that the Opus One index may now be finding support on its long-term trendline.
This pattern – prices finding support above 2020 lows — is mirrored in individual vintages such as the 2013 (top-traded on the exchange in September).
Liv-ex trades of Opus One 2013
Sauternes prices fall, trade volumes rise
The Sauternes 50 was the worst performer, down 2.1% month-on-month. Still, September saw the highest volume of component wines trade since April 2024. Though Sauternes’ prices have suffered at the hands of changing consumer preferences, these lower prices may now be presenting value to buyers.
Italy 100 and Champagne 50 down slightly
The Italy 100 and Champagne 50, which have performed well in recent months, both saw mild month-on-month declines. While down slightly, the former remains flat over the past three months, and the Champagne 50 is up 1.0% — September has not offset recent gains. Within the Italy 100, Ornellaia performed well, with only the 2021 vintage declining (down 0.3%). Performances within the champagne 50 varied within brands and vintages, but Jacques Selosse’s Millesime, the Champagne worst affected by the market downturn, saw a notable improvement in trade volumes.
Trade on Liv-ex in September marked an approach back to pre-tariff levels, with trade value (+9.5%), count (+4.2%), and volume (+6.4%) all up on the Q3 average.
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.
