The Liv-ex Fine Wine 100 rose 0.4% in March, the first rise in 12 months.
The Liv-ex Fine Wine 1000 fell 0.6%, softer than the February decline, to close at 397.75.
The Rhone 100 index rose 0.4% in March, the first monthly rise in movement since March 2023.
The Liv-ex Fine Wine 100 rose 0.4% in March, closing at 356.72. The benchmark index last recorded positive movement in March 2023 when it also rose by 0.4%.
Looking at the wider market, the Liv-ex Fine Wine 1000 (which tracks 1,000 wines from across the world) declined by 0.6%, a much milder decline compared to that recorded in February (1.3%). Among its sub-indices, the Champagne 50 recorded the most significant decline, dropping 2.2%, a reversal from its positive movement the previous month. Meanwhile, the Rhone 100 bucked the trend, rising for the first time in a year.
The Liv-ex Fine Wine 50 (which tracks the movement of the First Growths and is updated daily) dipped 0.6% in March, slightly down from its 0.2% fall in February. The Bordeaux 500 (which tracks 500 leading Bordeaux wines) fell 0.8% – remaining flat on the previous month.
March saw a slight decrease in both the number of brands (LWIN7s) and individual wines (LWIN11s) traded on the secondary market compared to February. There was also a small dip in both traded value and volume, however, March saw an uptick in exposure (the value of live bids and offers on the exchange) compared to the previous month.
The Liv-ex 100 rises for the first time in 12 months
* prices shown are Liv-ex Mid Prices; the mid-point between the highest live bid and lowest live offer on the market. These are the firm commitments to buy and sell at that price; transactional data, rather than list prices. It represents the actual trading activity of 620+ of the world’s leading fine wine merchants. Because Liv-ex doesn’t itself trade, this data is truly independent and reliable.
Of the 100 components in the Liv-ex 100 index, 44 saw their prices rise this month, while 41 fell, and 15 remained flat.
Two Napa Valley wines were among the top performers of the Liv-ex 100 index. Promontory, Napa Valley 2018 (+15.9%) and Dominus, Napa Valley 29 (+5.6%). This was reflected in the California 50 index which only had a modest dip of 0.1% in March.
Both the 2018 and the 2019 vintages of Sassicaia featured among the top risers, following on from the 2020 featuring amongst the top performers last month as well.
Clos des Papes, Chateauneuf-du-Pape, Rouge 2020 was one of the top performers of the Liv-ex 100 index for the second month in a row. This was reflected in the Rhone 100 which saw its first monthly rise in a year.
The Rhone 100 rises for the first time 12 months
Among the Liv-ex 1000 sub-indices, only the Rhone 100 rose month-on-month.
The Champagne 50 index fell the most severely in March dropping 2.2%, largely driven by big brands trading below their release prices. Despite plentiful trade of Taittinger, Comtes de Champagne Blanc de Blancs 2013, the wine fell 7.2% in March. The Bordeaux 500 was the second worst performer, with a March decline of 0.8%.
Over the last year the Rhone 100 index has pulled back 19.2%. Since the peak of the market in October 2022, it has declined 26.6%. Notably, the Rhone 100 is the only sub index of the Liv-ex 1000 to record at negative decline over a five-year period (-2.5%). However, last month it rose 0.4%.
Paul Jaboulet Aine, Hermitage, La Chapelle Rouge 2017 and Chateau Rayas, Chateauneuf-du-Pape 2011 were the top March price performers in the Rhone 100, recording 12.9% and 12.1% rises respectively.
Looking at the components of the Rhone 100, Rayas 2011 and 2010 were the top traded by value in March, while Clos des Papes, Chateauneuf-du-Pape, Rouge 2022 was the top traded by volume.
What are Liv-ex indices?
The Liv-ex Fine Wine 100 Index is the industry leading benchmark. It represents the price movement of 100 of the most sought-after fine wines on the world’s most active and liquid marketplace from France, Italy, USA, Australia and Spain. Stretching back over 20 years, the Liv-ex 100 is quoted on Bloomberg and Reuters screens.
The Liv-ex Fine Wine 1000 Index is broadest measure of the market. It represents the price movement of 1,000 of the most sought-after fine wines on the world’s most active and liquid marketplace. Stretching back over 20 years, the Liv-ex 1000 is comprised of seven sub-indices from across the world: the Bordeaux 500, the Bordeaux Legends 40, the Burgundy 150, the Champagne 50, the Rhône 100, the Italy 100 and the Rest of the World 60.
All Liv-ex indices are calculated using our Mid Price; the mid-point between the highest live bid and lowest live offer on the market. These are the firm commitments to buy and sell at that price; transactional data rather than list prices. It represents the actual trading activity of 620+ of the world’s leading fine wine merchants. Because Liv-ex doesn’t itself trade, this data is truly independent and reliable.
Source: Liv-ex