Although the final ten days of June saw First Growth prices begin to stabilise, the falls in the first three weeks left the Liv-ex 50 down 3.2%: its largest month-on-month drop in two years. The Liv-ex Fine Wine 100 fell 2.9% to close the month on 236.02, taking it back to its level of October 2009.
As shown in the Liv-ex 100 movers’ table, below, price falls were heavy for a variety of First Growth vintages, although Margaux managed to see some rises for its older (and hence scarcer) wines. Only a quarter of wines in the index managed to hold steady or climb in price.
The Liv-ex Fine Wine 1000 index – the broadest measure of the market – performed slightly better, falling just 0.9%; the Bordeaux 500, with a drop of 1.8%, was its weakest sub-index. The market continued to find inspiration in regions beyond Bordeaux, with a rise of 0.7% for the Rhone 100 and 0.4% for the Burgundy 150 and Rest of the World 50.
Full index levels can be seen here.