European Buyers Drive Fine Wine Market Stabilization as Liv-ex Index Posts Gains

The fine wine market showed signs of stabilization in December, with major indices holding steady and buyer activity shifting toward lower-priced wines. The Liv-ex Fine Wine 100 index rose 0.4% for the month, while the broader Fine Wine 1000 index remained flat compared to November. Only 37.9% of the Fine Wine 1000’s components fell in price, marking the lowest proportion of monthly declines since September 2022. This data points to a market that is finding its footing after a period of volatility.

Trade volumes increased as buyers focused on more affordable wines, a trend reflected in the average cost per case traded, which dropped by 12.3% over the year. Despite this shift, the Fine Wine 1000 ended 2025 down 4.5%. The Rhone 100 sub-index led performance among regional indices with a 1.6% gain in December and was the only major index to post positive returns for the year. In contrast, the Second Wine 50, Right Bank 100, and Right Bank 50 were the worst performers, falling by 9.4%, 8.2%, and 7.3% respectively.

Market activity remains in recovery mode. Trade volume in the fourth quarter of 2025 was down 7.2% compared to the same period in 2024, while trade value declined by 9.2%. However, there was a notable increase in the diversity of wines traded on Liv-ex during the year, with more than 5,000 unique labels and over 12,000 unique label-and-vintage combinations changing hands—a record for the platform.

European buyers played a significant role in supporting the market’s stability. Purchase value from Europe surged by 48.2% year-on-year in 2025, a trend that appears set to continue into early 2026. This uptick helped offset more cautious buying from the UK and US markets, where participants remain wary due to ongoing tariffs and economic uncertainty.

Tom Burchfield, Head of Market Intelligence at Liv-ex, noted that sentiment is improving as the market enters 2026. “The outlook at the start of 2026 is decidedly more positive,” Burchfield said. “The Liv-ex Fine Wine 100 has now posted four consecutive months of gains. European demand is strengthening, sentiment in Asia has improved, and although UK and US buying remains cautious, the market overall looks to be entering a recovery phase.”

The January Market Report from Liv-ex highlighted these shifts in global demand patterns and pointed to rising optimism among traders and collectors. While prices have stabilized and activity is broadening across more labels—especially at lower price points—the market’s full recovery will depend on continued improvement in global economic conditions and resolution of trade barriers affecting key regions.

As fine wine trading heads into early 2026, industry observers are watching closely to see if recent gains can be sustained and if broader participation from all major markets will return. For now, increased European buying and growing interest in lower-priced wines are providing some much-needed support for an industry that has weathered significant challenges over the past year.