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The market for fine wine continued to decline in May, according to data from the Liv-ex and Cult Wine trading platforms. According to Cult Wine, the "uncertain economic environment" is causing prices for rare and expensive wines to fall, although an increase was still expected for 2023 in February. The traders speak of a "temporary correction".
According to the Liv-ex monthly report, all important indices fell in May, with the Liv-ex Fine Wine 1000, which tracks the prices of the 1,000 best wines, falling the most with a minus of 2.4 percent. The Liv-ex Fine Wine 100 and the Liv-ex Fine Wine 50, which tracks the Bordeaux Premier Crus, also recorded a decline of 2 and 1.2 per cent respectively. Liv-ex also classifies the current Bordeaux En Primeur campaign as disappointing, as the rising prices led to buying restraint.
Cult Wine reports that the Burgundy index showed a slight decline, sales of US wines fell the most and Champagne only increased slightly, especially the house of Egly-Ouriet *****. Italy was the only country to record a price increase of 0.46 per cent, driven mainly by two wines from the house of Gaja*****: Ca'Marcanda ***** Bolgheri 2015 (+17.7 per cent), and Gaia & Rey Langhe Chardonnay 2012 (+13.7 per cent). According to Cult Wine, there is demand for fine wine, but buyers are much more price-sensitive than they were a few months ago.
(al / Source: drinksbusiness/Liv-ex)