March 2025

The last two years have seen slow but steady falls in the fine wine market, as measured by the Liv-Ex Fine Wines Indices.  In this update, we attempt to give a very basic summary of the context for the current fine wine market and its prospects in 2025.  

Liv-ex (London International Vintners Exchange) is a global marketplace for fine wine. It operates as an electronic trading platform where wine merchants, investors, and professionals can buy and sell fine wines. Established in 2000, Liv-ex provides price indices, data, and insights to help market participants track trends, assess valuations, and make informed trading decisions.

In their report on The Fine Market in 2024, Liv-Ex shared this graph, showing a steady decline in fine wine indices, even as financial indices have climbed:

Other alternative and 'luxury' investment categories also fell in 2024.  Knight Frank's 2024 Wealth Report comments:

LUXURY COLLECTIBLES ON PAUSE:
"Despite record-breaking individual sales in 2023, a surge in financial market returns contributed to a shift in allocations impacting on luxury asset value. The Knight Frank Luxury Investment Index fell 1% over the year, pulled down by falling values in rare whisky (-9%), classic cars (-6%), handbags (-4%) and furniture (-2%). While art (+11%), jewellery (+8%) and watches (+5%) helped offset some of these falls, our assessment reveals a need for an ever more discerning approach from investors, with significant volatility by sub-market."