Data from Liv-ex, the fine wine trading platform, reveals that with the expectation of their Italy 100 index, all of the platform’s major indices have seen price falls compared to December.
This decline is the continuation of a three-year down-market for fine wine prices on the platform from their highs of late 2022. The flagship Liv-ex 100 index, which collates the price performance of the top 100 fine wines on the platform, indicates this, with prices down –9.2% and –21.2% compared to 1 year ago and 2 years ago respectively.
Amidst this overall decline, of the fine wines which make up the Liv-ex 1000, 410 saw their mid prices increase for January, the highest number for this figure over the Live-ex 1000 index's past year. The Liv-ex mid price is a proprietary Liv-ex figure which calculates the midpoint between the current highest bid price and lowest offer price for a given wine on the platform.
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The drop in prices led to an increase in trading, however, with the total trade count, trade volume and trade value all increasing by 12.3%, 37% and 13.4% respectively. This indicates that buyers are finding value at these lower prices and so increasing their trading activity.
The only index to see a price rise was the Italy 100, which was up 0.6% compared to December. According to Liv-ex, Super Tuscans are often among the week’s top traded on the Liv-ex website at present, but the performance of Northern Italian wines were the standouts on the list of the best month-on-month performers for the index.