The Liv-ex 1000 Index – the broadest measure of the fine wine market – closed October 2016 at another new high of 293.58. This is an increase of 2.9% on September’s close of 285.30. It has now reached record highs for three consecutive months.
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 increase buying from Euro and Dollar-based merchants.
Amongst the Liv-ex 1000 sub-indices, Bordeaux has been leading the charge. The Bordeaux Legends 50 (+22.7%) and the Liv-ex Bordeaux 500 (+21.4%) have increased the most this year. However, the Italy 100 (+5.1%) and the Champagne 50 (3.7%) made the strongest gains this month as buyers broadened their focus.