The performance of fine wines in 2025 confirms the negative trend that has characterized the sector in recent months. February also recorded a decline, in line with the closing of 2024, highlighting a decline in the main indices monitored by Liv-Ex, the reference platform for the secondary market of great collectible wines.
While some timid signs of recovery had emerged in January, the following month saw all indicators return to the red, including the Italy 100, which measures the performance of Italian wines. After a slight rise at the beginning of the year, the index contracted, canceling out previous gains.
The Liv-Ex 100 and Liv-Ex 1000 downhill
The market benchmark, the Liv-Ex 100, fell 0,8% on a monthly basis, bringing the overall loss for the last 12 months to -8,9%. Among the Italian labels included in its composition are prestigious names such as Bartolo Mascarello's 2019 Barolo, Gaja's 2019 Barbaresco and Tenuta San Guido's 2019, 2020 and 2021 Sassicaia, as well as wines from Antinori, Frescobaldi and Soldera.
In parallel, the Liv-Ex 1000 – the broadest index in numerical terms – suffered an even more marked decline, with a -1,1% in February and an annual loss that reached -10,4%.
The international picture and the trend of Italian wines
The French market was not spared from the decline either. The indices relating to the various French wine regions (Bordeaux, Champagne, Burgundy and the Rhone Valley) recorded generalized declines of around 1% on a monthly basis, with the exception of some segments that recovered slightly, such as the Bordeaux Legends 40 (+0,9%) and the Sauternes 50 (+0,8%).
As for Italian wines, the positive signal from January was not confirmed in February. The Italy 100 lost 1,3% on a monthly basis and 7% over the last year. Among the big names that make up the index are iconic labels such as Giacomo Conterno's Barolo Monfortino Riserva, Antinori's Tignanello and Frescobaldi's Masseto, with vintages ranging from 2001 to 2021.
A market in difficulty
Overall, the investment wine sector is going through a complex period, with performances in decline that, in some cases, exceed double digits on an annual basis. The decline, if compared with the data from two years ago, appears even more marked, a sign of a market waiting for new impulses to reverse the trend.
