Fine wine prices may soon stabilize in the secondary market after a two-year decline. According to a recent survey conducted by Liv-ex, a global marketplace for fine wine, market participants are cautiously optimistic that prices are "close to bottoming out."
Despite this, there’s no immediate expectation for a significant rebound in 2025. Many respondents highlighted that the market lacks the momentum to increase prices, suggesting any recovery will likely be slow. The downward trend in fine wine prices has been observed over the past couple of years, following a booming period from 2020 to late 2022.
The survey revealed that the Liv-ex 100 index—a key indicator of secondary market performance—might drop by an average of 1.9% this year, following a 9.1% decline in 2024. Almost 27% of participants believe the index will remain stable in 2025, while the rest are divided between slight increases and further decreases.
Interestingly, EU-based merchants expressed less optimism compared to their counterparts elsewhere. However, recent data has shown that some blue-chip wines from regions like Burgundy and Champagne remain more expensive now compared to five years ago. One UK merchant indicated that buyers are recognizing “incredible value” at current price levels, despite ongoing concerns such as potential US tariffs, high interest rates, inflation, and general economic uncertainty.
Market experts indicate that while no significant gains are anticipated for this year, prospects for finding appealing investment opportunities in rare wines continue to exist. For instance, exceptional Bordeaux and larger format Champagnes may provide valuable investment options.
Demand for rare and vintage wines remains strong at auction houses, as evidenced by the successful sale of a five-bottle lot of 1962 Comte Georges de Vogüé Burgundy for £47,500, significantly exceeding pre-sale estimates. Meanwhile, Zachys, a US-based auction house, noted a steady improvement in market sentiment throughout 2024.