At the end of September, the Liv-ex 1000 index – the broadest measure of the market, tracking price movements of wines from a wide range of regions – hit a new high for the second month in a row. Bordeaux still has some way to go. Despite climbing 17.7% so far this year, the Bordeaux 500 index remains 6.5% below its peak level in July 2011.
The First Growths and their second wines remain far from the eye-watering heights that they reached in 2011, down 24.5% and 18% respectively. The Sauternes 50 has yet to show significant signs of recovery.
However, several of the sub-indices have fared better. While the broader market fell from summer 2011, the Right Bank 100 climbed and has now reached new highs on four consecutive months this year. The components of this index include popular brands such as Pavie and Angelus which have seen continued demand over this period.
The Left Bank 200 and Right Bank 50 are very close to peak levels currently. With the index levels for October due to be released next week, the market could see more new highs shortly.