After a long stretch of weak demand, the fine wine market is showing signs of life.
Between January and September 2026, a small group of highly sought-after bottles pushed prices up on the secondary market. Italy, and the Langhe in particular, drove much of the gain, alongside Champagne. An analysis by WineNews of the Liv-Ex indices, the leading secondary-market platform, shows how far the rebound has gone and where it is concentrated.
The Liv-Ex 100: Italy Gains Ground
The Liv-Ex 100, the platform's benchmark index, rose 2.1% in the first nine months of 2026 and 4.4% over twelve months. Its Italian constituents include Bartolo Mascarello's Barolo 2019, Bruno Giacosa's Falletto Vigna Le Rocche Riserva 2016, Gaja's Barbaresco 2019 and Giacomo Conterno's Monfortino Riserva (2015 and 2019). They are joined by the great Tuscan names: Masseto, Ornellaia, Sassicaia, Solaia, Tignanello and Soldera's Case Basse Sangiovese.
Four Italian labels are among the index's ten best performers this year:
- Giacosa, Barolo Falletto Vigna Le Rocche Riserva 2016: +31.7%, the best result in the index
- Conterno, Barolo Monfortino Riserva 2019: +19.4%
- Soldera Case Basse, IGT Toscana 2020: +18.7%
- Antinori, Solaia 2021: +14.1%
Monfortino and Giacosa also appear in the top ten of the Liv-Ex 1000, the broadest index, which is up 1.3% this year and 2.2% over twelve months.
The Italy 100 Outpaces the Field
The Italy 100 is up 3.5% so far in 2026 and 4.9% over twelve months, making it the best-performing Liv-Ex index over that period. It covers a deep roster of benchmark producers and vintages:
- Bartolo Mascarello: Barolo, vintages 2012 to 2021
- Bruno Giacosa: multiple Falletto and Le Rocche Riserva releases
- Gaja: Barbaresco, 2013 to 2022
- Giacomo Conterno: Monfortino Riserva, from 2002 to 2019
- Super Tuscans: Sassicaia, Solaia, Tignanello, Ornellaia and Masseto, 2013 to 2022
- Soldera Case Basse: Sangiovese, 2011 to 2020
Within Italy, the Langhe dominates the leaderboard. Behind Giacosa's 2016, the Monfortino 2005 gained 30.4%, Gaja's 2015 Barbaresco 22.5% and Giacosa's 2020 Barolo 21.3%. Tuscany follows, led by Soldera's 2020, 2012 and 2011 vintages (+18.7%, +16.1% and +13.5%) and Frescobaldi's Masseto 2016 (+17.7%).
Other Regions Join the Recovery
Italy is not alone. The Champagne 50 is up 4.1% this year and 4.6% over twelve months. Burgundy 150 (+1.7%, +2.8%), Rhône 100 (+0.5%, +3.4%) and Rest of the World 60 (+2.2%, +0.6%) are also positive. Bordeaux 500 is the only index slightly in the red this year (-0.2%), though it is essentially flat and up 0.4% over twelve months.
A Narrow but Encouraging Signal
This recovery comes from a niche: a handful of rare, prestigious wines. The wine market as a whole is still shrinking and remains under pressure. Still, strong collector demand for these labels suggests renewed confidence at the top end, and a reminder that Italian icons now compete with the world's best in prestige and value.
Source: WineNews