Italian Wines Reach 19.4% of Liv-ex Trade as Fine Wine Market Posts Second Consecutive Monthly Gain

The fine wine market showed renewed strength in October and November 2025, with key indices on the Liv-ex exchange posting gains and signaling a shift in global buying patterns. The Liv-ex 100 Index, which tracks the price movement of the most sought-after wines, rose by 0.9% last month. This marks the second consecutive monthly increase for several major indices, including the Liv-ex 50, 100, and 1000. Notably, the Bordeaux 500 Index, which monitors 500 leading Bordeaux wines, recorded its first gain since March 2023.

Italian wines stood out as a major force in October trading. Italy accounted for 19.4% of all trade on Liv-ex, its highest share since August 2020 and the largest trade value since April 2022. The Italy 100 sub-index led all regional indices with a 1.3% rise, driven by strong demand for producers such as San Guido and Giacomo Conterno. Sassicaia and Soldera were among the top-performing brands, reflecting a growing international appetite for Italian fine wines.

UK buyers continue to play a significant role in the secondary wine market, maintaining about a 30% share of traded volume on Liv-ex. This is a marked decline from their dominance in 2005, when they accounted for nearly three-quarters of all purchases. However, UK buyers have diversified their interests beyond Bordeaux to include Burgundy, California, and Piedmont. This broader focus has made their purchasing more influential across different regions.

Sophia Gilmour, a market analyst at Liv-ex, noted that while UK buyers no longer dominate the market as they once did, their influence remains strong due to this diversification. She explained that European buyers are also becoming more active on the secondary market, seeking opportunities beyond direct purchases from producers. Regions like Burgundy, Champagne, Tuscany, and California have worked to build their international reputations over the past decade and are now seeing increased market share as a result.

October’s trading activity reached its highest levels of value, volume, and count since US tariffs were introduced several years ago. Of the Liv-ex 1000’s components—the broadest measure of the fine wine market—462 wines increased in value during October, while only 397 fell and 141 remained flat. All sub-indices except for the Rhone 100 posted gains; Rhone declined by 1%. The Italy 100 was the top performer among sub-indices.

The list of top-traded wines by value in October included Giacomo Conterno’s Barolo Monfortino Riserva 2019 and Domaine Leroy’s Musigny Grand Cru 2009. Sassicaia’s Bolgheri from both the 2022 and 2017 vintages also featured prominently. Other notable entries were Opus One from Napa Valley and Dom Perignon Rose from Champagne.

By volume, more accessible labels such as Chateau Poitevin Medoc 2016 and Argiano Brunello di Montalcino 2018 led trading activity. Sassicaia’s Bolgheri again appeared among the most traded by volume alongside Gosset Grande Reserve Brut and Produttori del Barbaresco’s Barbaresco 2021.

The evolving role of UK buyers is evident in their changing preferences. In previous decades, Bordeaux dominated UK purchasing habits—comprising over half of annual purchases until about seven years ago. Since then, Bordeaux’s share has dropped to around 30%, now roughly equal to Burgundy’s share among UK buyers. The current list of top-traded wines among UK buyers includes Petrus and Chateau Lafite Rothschild but also features Screaming Eagle from California and Cristal Champagne. Sassicaia from Italy and Domaine de la Romanée-Conti from Burgundy are also high on the list.

This shift reflects broader trends in the global fine wine market: buyers are seeking value across more regions rather than focusing solely on traditional powerhouses like Bordeaux. As prices fluctuate and new regions gain prestige through consistent quality and marketing efforts, collectors and investors are diversifying their portfolios.

The secondary fine wine market’s momentum in late 2025 suggests that international demand is robust despite economic uncertainties elsewhere. With Italian wines gaining ground and UK buyers spreading their influence across multiple regions, the landscape continues to evolve toward greater diversity in both taste and investment strategy.