Fine wine market faces deepest downturn in years

The fine wine market is in the midst of its toughest spell for over a decade, with the Liv-ex Fine Wine 100 Index down 4.9% this year and 26.6% below its 2022 peak. Prices have slipped beneath 2018 levels, prompting fears of a prolonged reset.

The slowdown mirrors the downturn after 2011, when Chinese buyers withdrew. This time, it is US demand that has waned, with tariffs and economic concerns discouraging collectors.

Wine merchants remain cautious, holding off on restocking until clear signs of recovery emerge, as shown by Liv-ex’s low bid-to-offer ratio of 0.15, similar to 2008 crisis levels.