A new report from Liv-ex, the leading platform for fine wine trading, points to Château Mouton Rothschild 2015 and several non-vintage Champagnes as the standout performers behind a recent improvement in secondary-market prices.
According to the platform, these are concentrated pockets of activity within a market that has not yet shown signs of a broad-based recovery.
Mouton 2015 Nears Its 2020 Price Levels
Liv-ex data shows that much of Mouton Rothschild 2015's price gain took place in the final months of 2025. That rally has brought the label close to the trading prices it commanded in 2020 — a benchmark the platform regularly uses to measure how much ground other wines have recovered following the market declines of recent years.
Lafite Rothschild 2015 shows a similar pattern: Liv-ex reports the wine is now trading at levels equivalent to those seen five years ago. The firm notes that its narrow bid-offer spread, combined with a steady upward trajectory, suggests there could still be room for further gains, though it frames that reading within a recovery that remains partial and has not spread across the fine wine market as a whole.
Bordeaux Concentrates the Activity, but Champagne Gains Ground Too
The report identifies Bordeaux as the region where most of the recent movement is concentrated, something Liv-ex attributes to selective buying behavior rather than a broader shift in market sentiment. Bordeaux isn't the only story, though: non-vintage Champagnes rank among the best-performing wines of the past year, gaining prominence on the list of labels showing clear signs of renewed demand.
Among the examples most frequently cited in the analysis, alongside Mouton 2015 and Lafite 2015, are Pol Roger Réserve Brut and Jacques Selosse Initial — two non-vintage Champagnes that Liv-ex identifies as representative examples of this sustained gain in transaction prices.
A Selective Recovery, Not a Broad One
Liv-ex is cautious about how these figures should be read: it does not describe a full recovery of the fine wine market, but rather specific pockets where buyers are stepping back in with more conviction. That nuanced take matters for investors and collectors, since it suggests that revaluation opportunities aren't spread evenly across the market but are instead concentrated in particular labels and categories — leading Bordeaux names with a clear upward trend, and non-vintage Champagnes with growing demand — within a market that otherwise remains uneven.
Ultimately, the report reinforces the idea that, after a period of price corrections, the fine wine secondary market is beginning to show selective signs of recovery, with Bordeaux and select Champagnes leading the way.
Source: Vinetur