October 2023 Market Snapshot
- Prices continue to fall across all major indices.
- Despite price declines, trade by value increased for a 4th consecutive month.
- Rest Of World 60 index rose by 0.20%, marking it's second monthly rise in 13 months.
- Of the 100 wines that make up the Fine Wine 100 Index, 24 rose in value, 10 stayed flat and 64 fell in price.
- Pol Roger, Sir Winston Churchill, 2013 experienced the largest price increase (6.99%).
Market Indices
One year on from the start of the downturn in the market, fine wine prices are yet to stabilise. After experiencing miniscule declines in September, nearly all major indices fell by +1.5% in October, with some components falling by +8%.
One rising statistic was trade by value, October is the fourth consecutive month that trade has increased on the secondary market. This tells us that even whilst prices are falling, buyers with perhaps a slightly longer outlook are beginning to take advantage of cheap offers. Wines within the Fine Wine 100 index (which tracks the 100 most popular wines on the secondary market) traded on average, 3.1% below their market price.
The Liv-ex Fine Wine 1000, which is comprised of 7 sub-indices (see the above table), fell by 1.40%. The best performing component was the Rest Of World 60 which posted a gain of 0.20%, it’s 2nd positive month since September 2022.
All other sub-indices experienced declines, the worst coming from the Champagne 50 (-2.50%). Having said that, it’s worth noting that the top performing wine of the month is a component of the Champagne 50.
Risers and Fallers
Throughout October out of the 100 wines that make up the Liv-ex Fine Wine 100 index, 24 rose in price, 10 stayed flat, and 64 experienced price decreases.
The number of fallers compared to last months figures increased for across regions.
The ‘Others’ category which contains seven wines across California, Spain and Australia achieved the highest average monthly growth (+0.23%) of all regions within the Fine Wine 100 index.
The biggest riser within this category was Penfolds, Grange, South Australia, 2017, up 1.7%. This follows last months 18.35% gain when it was ranked number 1 within the Fine Wine 100.
Top Risers
The table above shows the best-performing wines in the Liv-ex 100 index in September. Pol Roger, Sir Winston Churchill, 2013 recorded the largest price increase (6.99%), followed by Bordeaux First Growth, Chateau Haut-Brion, 2010 up by 6.83%.
The extended list, which shows the top 10 risers, features more wines from Piedmont, Burgundy and Bordeaux. All of the top 10 risers saw increases of at least 5%.
Share Of Trade
