The Liv-ex 1000 Index – the broadest measure of the fine wine market – closed August 2016 at record high of 281.62. This is an increase of 3.04% on the July’s close.
The index previously reached a high of 279.69 in July 2011 at the peak of the China-led bull market. It then fell 13.3% before hitting a low of 242.6 in August 2014.
The fine wine market has been rising since December 2015. It has seen a boost since the UK announced its decision to leave the EU at the end of June. With a weaker Sterling, the secondary market has seen increased buying from Euro and Dollar-based merchants.
Bordeaux and Burgundy have been leading the charge. The Bordeaux 500 Index – which tracks the price movements of the ten most recent physical vintages of 50 top Bordeaux Chateaux – has gained 16.2% so far in 2016.
These were also the regions that showed the strongest performances in August: the Bordeaux 500 and Burgundy 150 both increased by 3%.