The market for fine wines is giving timid but interesting signals: it is not yet time to shout about a turning point - between economic uncertainties and geopolitical tensions it would be imprudent - however, at least on the secondary market of fine wines traced by Liv-Ex, the niche of wines most sought after by collectors seems to be showing some confidence. According to the updates and analyses reported by WineNews, after the first positive signs that emerged towards the end of 2025, 2026 also started with slight increases on the main indices.
Since the beginning of the year, the main benchmark, the Liv-Ex 100, has recorded a +0,6%. Among the Italian labels present in the index are historic names such as Bruno Giacosa, Giacomo Conterno, Frescobaldi, Antinori, Soldera Low Houses e Gaja, in addition to the great Supertuscans and the Piedmontese classics. In the first two months, four Italian labels appear among the top ten for price increases: the best result is for the Promontory Napa Valley 2018 (+15,2%), closely followed by the Barolo Falletto Vigna Le Rocche Riserva 2016 by Bruno Giacosa (+14,3%). Further down, growing by 12% is the 100% Sangiovese IGT Toscana 2020 of Soldera Low Houses, while the Masseto 2022 advances by 7,8% and the Solaia 2021 by 6,3%.
Growth, however, is widespread and limited: the Liv-Ex 1000, which represents a broader basket, has recorded a +0,4% since the start of the year. Among the sub-fields, the Champagne 50 shows a +1,4%; the Liv-Ex Bordeaux 500 and the Bordeaux Legends 40 (+0,5% each) and the Burgundy 150 (+0,2%) also recorded small gains, with the only decline being in the Rhone 100 (-0,2%). The Italy 100, an index dedicated to the best Italian wines, is doing slightly better than the Liv-Ex 1000 with a +0,7% since the start of the year: the basket includes historic vintages of Bartolo Mascarello's Barolo, various references of Giacomo Conterno and Bruno Giacosa, the Barbaresco of Gaja, and all the most important vintages of Supertuscans such as Sassicaia, Solaia, Tignanello, Ornellaia and Masseto — with the best performance, to date, being that of the Barolo Monfortino Riserva 2005 by Giacomo Conterno, up 21% in two months.
It should be remembered that these signals concern a very limited segment of the market: the wine sector has faced and continues to face structural obstacles—slowing demand, more cautious consumer attitudes, and geopolitical uncertainties—so small increases should be interpreted with caution and without excessive optimism. That said, they are nevertheless positive signs worth monitoring.
About the big picture, Tom Burchfield, Head of Market Intelligence at Liv-Ex, observed that already at the end of January the outlook for the beginning of 2026 was looking rosier: demand in Europe is strengthening, sentiment in Asia has improved and, despite still cautious buying in the United Kingdom and the United States, the market appears to be moving towards a recovery phase – always taking into account that macroeconomic scenarios and geopolitical developments can change rapidly.
