Top-traded fine wines on Liv-ex in ‘challenging’ 2023

Prices for many fine wines have fallen to varying degrees on the secondary market, said the new Liv-ex 2023 report. 

Its key Liv-ex 100 and Liv-ex 1000 indices both dropped by around 13% in value in 11 months to 30 November, although were still higher than five years ago.

Justin Gibbs, Liv-ex deputy chairman and exchange director, said, ‘The year has been marked by a sustained decline in the headline indices, initially led by profit taking but more latterly by a creeping risk aversion.’

Performance of Liv-ex 1000 regional sub-indices in 2023

How the Liv-ex 1000 regional sub-indices have performed in 2023, to 30 November. Credit: Liv-ex.

Prestige Champagnes saw some of the biggest price ‘corrections’, having risen particularly steeply in a bullish market during 2021 and much of 2022.

Liv-ex’s Champagne 50 index dropped 17.2% in the first 11 months of 2023, although it was still up by 53% in five years.

Champagne leads top-traded wines

Champagnes dominated a ranking of the most-traded wines on Liv-ex this year so far. Louis Roederer’s Cristal 2015 was the top-traded wine by value, narrowly ahead of Dom Pérignon 2013. 

Both were released earlier in 2023 and have seen their Liv-ex market price fall during the year. Dom Pérignon 2013 was £1,646 (12x75cl in bond) in December, versus £1,830 in January, Liv-ex said.

Other top-traded wines by value were:

Opus One 2019 Cristal 2014 Screaming Eagle 2020 Sassicaia 2019