Italian Fine Wines Lifted Liv-ex Back Into Positive Territory in the First Half of 2026

Italian fine wines led the strongest gains on Liv-ex in the first half of 2026, helping push the secondary market for collectible wine back into positive territory after a long stretch of declines.

According to data reviewed by WineNews from Liv-ex, the London-based marketplace and benchmark for the global fine wine resale market, the Italy 100 index rose 1.9% from the start of the year through the end of June. That made it the best-performing major Liv-ex sub-index in the period, ahead of Burgundy 150, which gained 1.1%, Champagne 50 at 0.7%, California 50 at 1.1% and Rest of the World at 0.7%.

The broader recovery remained modest. The Liv-ex 100, the platform’s flagship index, ended the semester up just 0.1%, after giving back almost all of the gains built in the first four months of the year. The wider Liv-ex 1000 index did slightly better, rising 0.4%, with Italian wines providing much of that support.

The performance points to renewed demand for a narrow group of top labels rather than a broad rebound across the market. Bordeaux continued to lag, with the Bordeaux 500 flat and the Bordeaux Legends 30 down 0.8%. WineNews said that another en primeur campaign appears, so far, not to have delivered the hoped-for results, adding pressure to that segment.

Italy’s advance was driven by some of its most traded and prestigious bottles. Within the Liv-ex 100, one of the strongest performers was Bruno Giacosa’s Barolo Falletto Vigna Le Rocche Riserva 2016, up 19.2% in 2026. Other Italian wines in the top tier included Soldera Case Basse’s 100% Sangiovese IGT Toscana 2020, up 18.4%, Masseto 2022, up 14.2%, and Bartolo Mascarello’s Barolo 2019, up 13.8%.

The Italy 100 index is currently made up of vintages from several of the country’s most sought-after estates and appellations. It includes Bartolo Mascarello Barolo from the 2012 through 2021 vintages; selected Bruno Giacosa Barolos including Barolo Falletto Le Rocche del Falletto Riserva and Barolo Falletto Vigna Le Rocche Riserva; Gaja Barbaresco from 2013 through 2022; Giacomo Conterno’s Barolo Monfortino Riserva across multiple vintages from 2002 to 2019; leading Super Tuscans from Sassicaia, Solaia, Tignanello, Ornellaia and Masseto from 2013 through 2022; and Soldera Case Basse’s 100% Sangiovese IGT Toscana from 2011 through 2020.

The biggest gain inside that index came from Giacomo Conterno’s Barolo Monfortino Riserva 2005, which climbed 26% in six months. It was followed by a cluster of wines posting gains between 19.2% and 10.4%, including Bruno Giacosa’s Barolo Falletto Vigna Le Rocche Riserva 2016; Soldera Case Basse vintages from 2011, 2013 and 2018; Masseto vintages from 2022, 2020 and 2016; Bartolo Mascarello Barolo 2019; and Gaja Barbaresco vintages from 2022, 2015 and 2017.

The Liv-ex 100 currently includes several Italian wines that have become central to international trading in recent years: Bartolo Mascarello Barolo 2019; Bruno Giacosa’s Barolo Falletto Vigna Le Rocche Riserva 2016; Gaja Barbaresco 2019; Giacomo Conterno’s Barolo Monfortino Riserva from 2015 and 2019; Masseto from 2021 and 2022; Ornellaia 2021; Sassicaia from 2016, 2021 and 2022; Solaia 2021; Tignanello from 2021 and 2022; and Soldera Case Basse’s Toscana IGT Sangiovese 2020.

For producers, merchants and auction houses, the move matters because Liv-ex is closely watched as a pricing signal for high-end wine inventories and future release strategies. A stronger showing by Italian labels can support confidence in premium wine trading more broadly, especially at a time when parts of the market remain uneven and buyers are still selective.

Even so, the first-half figures suggest a fragile recovery rather than a decisive turn. WineNews described the rebound as weak and exposed to increasingly rapid market swings. For now, however, Italy’s most established names appear to be attracting buyers more consistently than many rivals in the fine wine market.