September 2023 Market Snapshot

  • Fine Wine 50 & 100 indices experience smallest declines in 6 months.
  • Trade by both value and volume increased for a 3rd consecutive month.
  • Italy 100 and Rest Of World 60 indices gain in value. September is the first positive month for the Rest Of World 60 since September 2022.
  • Piedmont was the top performing region, with average gains of 5.06%.
  • Penfolds, Grange, South Australia, 2017 recorded the largest price increase (18.40%).

Market Indices

Source: BX-trade | Liv-ex

Across the board fine wine prices are still falling, however, monthly trade by value and volume increased again. This makes September the 3rd consecutive month where trade has grown by both value and volume. 


The Liv-ex Fine Wine 50, which tracks the 10 most recent vintages of the Bordeaux First Growths, finished September down 0.64%. Whilst it is negative, it may be worth noting that this is smallest monthly drop in 6 months. The Liv-ex Fine Wine 100 follows a similar story, with a drop of 0.10%, September is the indices 3rd best performing month out of the last 12.


Source: BX-trade | Liv-ex

The Liv-ex Fine Wine 1000, which is comprised of 7 sub-indices (see the above table), fell by 1.00%. The best performing component was the Italy 100 which posted a gain of 0.60%, with the top 10 performing wines (within the Italy 100) all increasing by +5%.


The other positive index was the Rest Of World 60, which experienced it’s 1st monthly gain since September 2022.

Risers and Fallers

Source: Liv-ex. *Prices used are the Mid-price – the midpoint between the highest live bid to buy and the lowest live offer to sell on the market.

Throughout September out of the 100 wines that make up the Liv-ex Fine Wine 100 index, 47 rose in price, 7 stayed flat, and 44 experienced price decreases.


All five of the wines from piedmont within the index saw price increases, of which, two were amongst the top 5 risers of the 100 index. More details below…


Source: Liv-ex. *Prices used are the Mid-price – the midpoint between the highest live bid to buy and the lowest live offer to sell on the market.

Piedmont achieved the highest average monthly growth (+5.06%) of all regions within the Fine Wine 100 index. Followed by the ‘Others’ category (+2.30%) which covers seven wines across California, Spain and Australia. 


Contrary to it’s year-to-date performance, where it places 1st (+3.58%), Rhone recorded the largest monthly drop (-2.18%). The bulk of the drop was due to 

Domaine Jean Louis Chave, Hermitage, Rouge, 2019 falling by -8.70%, the other 5 Rhone wines were relatively stable.

Top Risers

Source: Liv-ex. *Prices used are the Mid-price – the midpoint between the highest live bid to buy and the lowest live offer to sell on the market.

The table above shows the best-performing wines in the Liv-ex 100 index in September. Penfolds, Grange, South Australia, 2017 recorded the largest price increase (18.40%), followed by Piedmont’s Bruno Giacosa, Barolo, Falletto Vigna Le Rocche Riserva, 2016, up by 13.70%. 


The extended list, which shows the top 10 risers, features wines from California and Burgundy.

Share Of Trade

Source: BX-trade | Liv-ex

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