After several years of decline, the industry benchmark – the Liv-ex Fine Wine 100 index – has been holding steady since July 2014, the market’s low point. Since then the index, which is calculated in Sterling, has gained 3.3%. But how does it look when viewed in other currencies?

When viewed in Japanese Yen, the market reached its low in July 2012 and has been climbing since. It is now just 9.7% off peak (in Yen, this was in April 2011). The market has also made significant gains in Euros: it is up 11% since its low point in June 2014.

In other currencies, as with Sterling, signs of recovery are less pronounced. When viewed in US Dollars, which also affects buyers in Asia, the index is furthest from its peak: it is down 39% since April 2011 – and has gained just 2% since its low in March 2015. For buyers in this group of regions – who represent the majority of fine wine purchasers worldwide – the market continues to look relatively accessible.