Liv-ex, the month of April confirms a structural slowdown of fine wines: bad Burgundy and Champagne

After a long period of growth, the slowdown in the Liv-ex indices, a point of reference for anyone investing in the world of fine wines, can now be considered structural. The trend is still negative at the end of April, and thus with a third of 2023 on file. According to WineNews analysis, the Liv-ex 100, or index of the most traded labels, fell 0.5% in April and 1.3% since the beginning of the year. The Liv-ex 1000, which includes the most traded wines from around the world, is down 1% in April and -2.5% year to date. The Bordeaux 500, the best-performing sub-index, fell 0.4% in April and 0.7% year to date. The Burgundy 150 does much worse, losing 1.5% in April and -3% since the beginning of the year after gaining 83.5% in the previous five years. The trend of the Champagne 50 is practically identical, which comes from +83.2% in the last five years, and which, however, lost -1.4% in April and even -7.1% since the beginning of the year. Finally, the Italy 100, which, like all the other indices, experienced a golden period between 2021 and 2022, slowing down to -0.9% in April and -1.5% since the beginning of 2023.
Clearly, there are labels capable of significant performances even within a context that is anything but positive. Among the wines listed on the Liv-ex 1000, since the beginning of 2023, there are the Hermitage 2019 by Domaine Jean Louis Chave (+67.3%), Le Pavillon 2011 by M. Chapoutier (+61.1%), Flaccianello delle Pieve 2011 from Fontodi (+39%), Chateau Pape Clement 2017 (+38.5%) and Chateau Palmer 2013 (+28.7%). Inverting the ranking, the worst figures in the first four months of the year were those of Chateauneuf-du-Pape 2005 by Chateau Rayas (-32.4%), Domaine Georges Roumier 2014 (-30%), Chateau d’Ampuis 2019 by E. Guigal (-29.1%), Chateauneuf-du-Pape 2004 by Chateau Rayas (-26.3%) and Romanee-Saint-Vivant Grand Cru 2013 by Domaine de la Romanee-Conti (-25.1%).
On the Italy 100, which collects the last 10 vintages available on the market of Barolo Bartolo Mascarello, Barbaresco Gaja, Barolo Monfortino Riserva Giacomo Conterno, Masseto and Ornellaia of Frescobaldi, Sassicaia Tenuta San Guido, Solaia and Tignanello of Antinori, Barolo Falletto Vigna Le Rocche Riserva Bruno Giacosa and Flaccianello delle Pieve Fontodi, the best performances since the beginning of 2023 were those of Flaccianello delle Pieve 2011 from Fontodi (+39%), Gaja’s Barbaresco 2015 (+16.7%), Barolo Monfortino Riserva 2001 by Giacomo Conterno (+14.1%), Barolo Falletto Le Rocche del Falletto di Serralunga d’Alba Riserva 2000 by Bruno Giacosa (+10.2%) and Barolo Monfortino Riserva 2006 by Giacomo Conterno (+9.7%).
Limiting the analysis to April 2023 only, instead, on the Liv-ex 1000 stand out the numbers of Bonnes Mares Grand Cru 2015 by Domaine Georges Roumier (+18.8%) and Barolo 2011 by Bartolo Mascarello (+17.7%), of the Chateauneuf-du-Pape 2011 by Chateau Rayas (+17.6%), of the Chateau Climens 2007 (+17.5%) and of the Hermitage 2018 of Domaine Jean Louis Chave (+17.3%). On the Italy 100, lastly, in April stand out Barolo Mascarello’s Barolo 2011 (+17.7%), Giacomo Conterno’s Barolo Monfortino Riserva 2010 (+15.5%), and Barolo Falletto Vigna Le Rocche Riserva 2014, 2012 and 2000 by Bruno Giacosa (+15.4% and +14.7% and +14.2%).