Fine Wine Prices Are Falling — What’s Going On?
If you’ve ever dreamed of owning a bottle of Château Margaux or sipping on a vintage Burgundy without selling a kidney… now might be your moment.
Over the past two years, prices in the fine wine world have dropped — and not just a little. According to Liv-ex (the London International Vintners Exchange), the Fine Wine 100 Index — tracking the crème de la crème of collectible bottles — is down 21% in sterling terms since mid-2023. And other parts of the market have fared even worse: Bordeaux’s top 500 wines are down 23%, while Burgundy's benchmark wines have lost 27% of their value.
So, what’s going on in the cellars of the rich and refined?
From Boom to Gloom
The fine wine market was flying high not long ago. Warm growing seasons, top vintages, and stuck-at-home collectors with money to burn during COVID created a frenzy. Bottles from France, Italy, and California were snatched up as both luxury indulgences and investment assets.
But like many pandemic-era booms, this one didn’t last.
Fast-forward to 2025, and the mood is… corked. Rising interest rates, global uncertainty, and high inflation have drained the appetite for long-term luxury investments. Even the wine world isn’t immune to economic hangovers.
The current market is considered one of the weakest in a very long time. Buyers are in control but, ultimately, no one needs to buy wine.
The New Buyer Mindset: Drink, Don’t Store
One of the biggest shifts? People aren’t buying to stash in a cellar for 10+ years anymore. They’re buying to drink — now.
Today’s wealthy wine buyers are more interested in enjoying the experience than treating wine purely as an investment.
In other words, collectors are increasingly popping open fine wines with friends now, rather than waiting for decades to resell.
What Happened to En Primeur?
The en primeur system — where collectors buy Bordeaux before it’s bottled — used to be a staple of wine investing. But recently, the appeal has diminished.
The 2024 vintage in Bordeaux and Burgundy has been underwhelming. Adding to the problem, some châteaux have priced new wines higher than older, ready-to-drink vintages on the market, discouraging buyers.
Why pay more for a wine you won’t drink for a decade when you can get a well-aged bottle for less?
Are There Bargains Right Now?
Actually, yes.
This moment is seen as a great opportunity for buyers, especially for Bordeaux wines. Prices are currently 30% to 50% off their 2022 peaks.
Retailers are noticing a slight increase in orders, especially from buyers looking to enjoy mature wines rather than speculate.
A Global Shift in Taste
In the U.S., buyers are playing it safe — focusing on wines that are already imported, stocked, and ready to drink, avoiding concerns around tariffs or delivery delays.
Meanwhile, in Hong Kong — once the epicenter of Bordeaux mania — tastes are shifting toward white Burgundy. Demand is strong for Premier Crus and Grand Crus from places like Puligny-Montrachet and Chassagne-Montrachet, especially from producers like Coche-Dury and Colin-Morey.
