Fine wines and Liv-Ex: Italy attempted a rebound in July, but the overall picture is negative

Negative signs have dominated the scene for months and months, and are continuing to dominate. So, it is really too early to show any enthusiasm. 2025 is a challenging year for the fine wines market, however Italy is showing a small reversal of the trend. At least, according to the results on Italy 100, the Liv-Ex index’s reference platform for the segment dedicated to Italian wines, which grew +0.6% month on month, in July 2025, compared to June. It is just a drop in a glass of water, or rather, a glass of wine, for the index after the last update including Bartolo Mascarell’s Barolo, all vintages from 2011 to 2020, as well as Gaja's Barbaresco, Giacomo Conterno’s Barolo Monfortino Riserva, vintages 2001, 2002, 2004, 2005, 2006, 2008, 2010, 2013, 2014 and 2015, Bruno Giacosa's Barolo Le Rocche del Falletto Riserva 2000, 2001, 2004, 2007, 2008, 2011, 2012, 2014, 2016 and 2017, in addition to all the vintages from 2012 to 2021 of Sassicaia of Tenuta San Guido, Solaia and Tignanello of Marchesi Antinori, and Ornellaia and Masseto of the Frescobaldi Group, as well as the 100% Sangiovese Toscana TGI of Soldera Case Basse the 2009 to 2019 vintages (except for 2010).
It is just a small exception, in a year that is definitely negative and moreover is showing the performances of all the other indices, essentially French, getting worse over the first 7 months of 2025. Italy 100 has been down -2.8% from the beginning of the year compared to the same period in 2024, while Liv-Ex 100, the reference index of the platform, is still losing a few decimal points in July, and registered -5.2% since the beginning of the year which includes for Italy, following the latest update, Barolo 2019 by Bartolo Mascarello, Barolo Falletto Vigna Le Rocche Riserva 2017 by Bruno Giacosa, Barolo Monfortino Riserva 2014 and 2015 by Giacomo Conterno, Brunello di Montalcino Riserva 2016 by Biondi-Santi, Barbaresco 2019 by Gaia, Sassicaia 2019, 2020 and 2021 of Tenuta San Guido, 2021 Solaia and 2020 and 2021 Tignanello by Marchesi Antinori, and 2021 Ornellaia and 2020 and 2021 Masseto of the Frescobaldi Group, plus the “new entry”, 100% Sangiovese Toscana TGI 2019 by Soldera Case Basse. The Liv-Ex 1000, the broadest index, has declined further, losing -5.4%, pulled down by Bordeaux 500, which has decreased -6.6% since the beginning of the year, as well as Burgundy 150 down -5.8%, and Champagne 50, down -5.1%, to name just the most important indices. We are waiting for a reversal of the trend to take place, which so far is little more than a mirage, at least in the short term.