After a strong start to the year the Liv-ex 50 has started to drift – so far this month it has fallen 0.9%. Yet while Bordeaux struggles to inspire the market, other regions are thriving. As shown in the chart below (re-based to June 2007, which is the starting point of the Super Tuscan Index), prices for wines from Burgundy, Champagne and Italy continue to rise. All three indices have hit record highs, posting six year gains of 61% (Champagne), 93% (Super Tuscans) and 109% (DRC).

The headline Liv-ex indices – dominated by Bordeaux – have been telling us that the fine wine market is in the doldrums. This in fact is only true of Bordeaux. The region has been releasing wines at too high a price for too long, and is now paying the price. How long this scenario continues is anyone’s guess, but relative values look vastly different to the market’s peak two years ago. 

Indices_6 years