Fine wines, first half of 2024 in “deep red” for investment in collectible wines

The indices monitoring the fine wines collecting market, which is increasingly struggling after years of tumultuous growth, continue to plummet downward unabated. With no “territory” being an exception, from Bordeaux to Burgundy, from Champagne to Italy. Data on the first 6 months of 2024 recorded by the Liv-Ex see all indices falling sharply in the first half of the year. The Liv-Ex 100, the platform’s main indices (which include, for Italy, Bartolo Mascarello’s Barolo 2019, Bruno Giacosa’s Barolo Falletto Vigna le Rocche Riserva 2017, Gaja’s Barbaresco 2019, Giacomo Conterno’s Barolo Monfortino Riserva 2014 and 2015, Biondi-Santi’s Brunello di Montalcino Riserva 2016, Frescobaldi’s Massetto 2019 and 2020 and Ornellaia 2020, Tenuta San Guido’s Sassicaia 2018, 2019 and 2020, Antinori’s Solaia 2019 and Tignanello 2019 and 2020, and Tua Rita’s Redigaffi 2020, ed.), loses -3.4%.
Very few of the index’s wines are up, with a good number of Italian labels in the “top 15”, namely Masseto 2019 at +5.6%, Bruno Giacosa’s Barolo Falletto Vigna Le Rocche 2017 at +3.8%, Tignanello 2019 and 2020 at +3.1% and +3.8%, respectively, Masseto 2020 at +3%, as well as Tenuta San Guido’s Sassicaia 2018. It does even worse for the Liv-Ex 1000, the broader index of the “London wine exchange”, at -6.3% since the beginning of the year, trailed down by the performance of Burgundy 150 (-9.7%), Champagne 50 (-6.6%), Bordeaux 500 (-4.8%) and so on.
Continuing to do a little less worse than average is the Italy 100 - made up of Bartolo Mascarello’s Barolo, with all vintages from 2010 to 2019, Bruno Giacosa’s Barolo Falletto Le Rocche del Falletto Riserva (2000, 2001, 2004, 2007, 2008, 2011, 2012, 2014, 2016 and 2017), Pieve di Fontodi’s Flaccianello (vintages from 2011 to 2020), Gaja’s Barbaresco (vintages 2010 to 2019), Giacomo Conterno’s Barolo Monfortino Riserva (2001, 2022, 2004, 2005, 2006, 2008, 2010, 2013, 2014 and 2015), and again from all vintages from 2011 to 2010 of Masseto, Ornellaia, Sassicaia, Solaia and Tignanello - which stops its decline in 2024 at -2.1% in 6 months. With the top performers being Solaia 2013 (+15.6%), Masseto 2015 (+12.6%) and 2018 (+9.7%), Bruno Giacosa's Barolo Le Rocche del Falletto di Serralunga d’Alba Riserva 2004 at +9.6%, and again Solaia 2020 at +9.5%. But on the horizon, in general, there are no signs of a positive turnaround, at least in the short to medium term for those investing in fine wine.