Fine Wine Market Commentary – March 2026.
- 1 day ago
- 3 min read
By Daniel Ward, Co-Founder & Managing Director.
The Liv-ex Fine Wine 100 index has now risen for six consecutive months, most recently increasing 0.5% month on month, signalling clear stabilisation following the broader market correction.
After a significant reset across the fine wine market between 2022 and 2025, a number of key indicators are now affirming that the market has entered the early stages of recovery. Valuations at the top end have reset materially, excess inventory has largely cleared, and trading activity is returning to the market.
In cycle terms, periods where pricing resets and liquidity begins to rebuild have historically delivered some of the strongest long term entry points for disciplined capital.
Having monitored market conditions closely throughout the past eighteen months, I believe the alignment of valuation, scarcity and improving liquidity across Bordeaux, Burgundy and Champagne will make the next five year cycle one of the most attractive we have seen in over a decade.
In my 17 years in the industry, I do not recall seeing such a clear alignment of value, selectivity and timing. Encouragingly, we are beginning to see the first signs of this reflected in client portfolios, with a number of holdings moving into positive territory year to date as market conditions improve and trading activity returns.
This is particularly evident within the most liquid segment of the market, where leading Bordeaux estates are beginning to see renewed bid activity following the pricing reset that occurred during the 2022–2025 correction.
Key Market Indicators
Source: Liv-ex Market Reports, March 2026.
Six consecutive months of gains
The Liv-ex Fine Wine 100 index has now risen for six consecutive months, most recently increasing 0.5% month on month, signalling stabilisation following the broader market correction.
Global demand returning
US buyers’ share of global fine wine trade value has increased to 27%, strengthening their position as the second largest buyer group globally behind European buyers.
Champagne leading early recovery
The Champagne 50 index rose 0.6% month on month, making it the best performing Liv-ex sub-index in the latest report. Iconic wines such as Krug 2004 rose 10.7% month on month, while Dom Pérignon 2015 increased 2.2% over the same period, supported by strong live bid activity.
Bordeaux stabilising at reset levels
The Bordeaux 500 index rose 0.2% month on month, with key vintages including 2016 and 2022 rising 1.9% and 1.5% respectively, indicating selective demand returning to the most recognised estates.
Scarcity continuing to support Burgundy
Demand remains strongest for the most limited wines. DRC La Tâche 2020 has recently traded approximately 10% higher month on month, highlighting continued global demand for the rarest Burgundy labels.
Strong technical support forming
The Liv-ex 100 index is now trading close to both its 20 month moving average and its previous 2018 peak, levels which historically act as strong technical support during recovery phases.
Market Outlook
Fine wine recoveries rarely move in a straight line. However, historically the most attractive periods to build positions have followed precisely the type of recalibration we have seen over the past two years.
With valuations reset, liquidity improving and global demand returning, we remain confident that the next five year cycle across Bordeaux, Burgundy and Champagne will be one of the strongest on record for patient investors.
Comments