Fine Wine Market Showing Renewed Strength

October 2025 – The fine wine market is showing renewed strength, with Liv-ex data pointing to improved confidence across the secondary market.

Key indices posted their strongest gains since 2022, Liv-ex 100 bid:offer ratio reached the highest level in years, and European buyers increased their share of trade.

The October Market Intel report explores these trends and what they mean for the the secondary market. 

Liv-ex Indices Show Strongest Gains Since 2022

The fine wine market showed renewed strength in September, with major Liv-ex indices (Liv-ex Fine Wine 50, 100 and 1000),  posting their largest gains since September 2022. The Liv-ex 1000 rose for the first time since March 2023, with 589 of its components showing stability or price increases.  

Liv-ex’s 100 Bid:Offer Ratio Has Risen to 0.70

The Liv-ex 100’s bid:offer ratio climbed to 0.70, the highest since April 2023 when the ratio was still on its way down. This ratio is a key measure of market confidence. When it rises to a certain level, prices are very likely to follow.  A statistical model predicts only a minimal 0.6% decline over the next two months, reinforcing the view that the market may be turning a corner. 

European Buyers Drive Trade

European buyers took their highest share of Liv-ex trade since August 2022, accounting for 39.5% of activity & increasing their purchases by 36% MoM. This regional momentum helped trade value (+9.5%), count (+4.2%), & volume (+6.4%) return to pre-tariff levels.  

Romain Grudzinski, Head of European Markets, provides expert commentary: “The market is beginning to show signs of stabilisation following a period of sustained price correction,” says Grudzinski. “There is still destocking of recent vintages, and the weight of unsold en primeur stock is becoming a problem. Merchants are selling below their purchase prices, but Bordeaux indices are improving and bid-offer ratios are moving in the right direction. These shifts are reflected in the October data, which shows the strongest index gains since 2022.”