Market Analysis

For the first time since 2022, Burgundy has overtaken Bordeaux in trading activity, Champagne is leading price performance, and mature wines are attracting growing interest.

Here is a quick overview of the current state of the fine wine market.

The Fine Wine Market: Renewed Activity Calls For Greater Selectivity

Following an extended period of falling prices and cautious buying behaviour, the fine wine market is showing signs of renewed activity. In the third quarter of 2026, the Liv-ex Fine Wine 100 rose by 2.01%, while the broader Fine Wine 1000 index gained 0.89%. The development is positive, but beneath the headline figures lie significant differences between regions, producers and vintages.

Three trends are particularly interesting from RareWine's perspective: growing interest in mature wines, Burgundy's return as the most traded region, and Champagne's relatively strong price performance.

Together, they paint a picture of a market where demand is increasingly concentrated around wines with distinctive qualities and attractive market positioning, while rising trading activity provides encouraging signs.

Maturity And Scarcity Are Becoming Increasingly Important

One of the most interesting developments can be found in Bordeaux, where demand for mature vintages differs significantly from interest in younger wines.

According to Liv-ex, the bid-to-ask ratio for Bordeaux First Growths from the 2000–2005 vintages exceeded 2.0 during the summer of 2026. For vintages after 2020, the ratio was just 0.7.

This highlights a significant difference in buying interest. While younger vintages still require many years of ageing, mature wines offer a level of quality and a drinking experience that can already be enjoyed today.

At the same time, one of the fundamental mechanisms of the fine wine market comes into play: Once a wine is consumed, it disappears permanently from the market. The available supply of any given vintage therefore gradually diminishes, while no additional bottles can ever be produced.

However, it is important to distinguish between increased interest and rising prices. For example, according to Liv-ex, Château Lafite Rothschild 2000 is trading at its lowest price level in 18 years. Interest in mature Bordeaux wines should therefore not necessarily be interpreted as a signal of imminent price increases, as Bordeaux's great pricing paradox continues to play a role.

Instead, this development is particularly interesting as an indication of how drinking maturity and declining availability can influence demand across the fine wine market, especially in Burgundy.

Burgundy Overtakes Bordeaux – But Not All Producers Are Benefiting

In the third quarter of 2026, Burgundy overtook Bordeaux as the most traded wine region on Liv-ex by value. This marks the first time since 2022 and represents a notable shift in a market historically dominated by Bordeaux.

Burgundy's share of trading activity remained around 20% during 2023–2025 but is now approaching 30%.

However, the increase in trading activity has not yet translated into similarly broad price increases. The Liv-ex Burgundy 150 index rose by just 0.67% in the third quarter.

Part of the explanation lies in how demand is distributed. According to market analyses from Liv-ex interest is increasingly concentrated around specific domaines rather than Burgundy as a whole.

This highlights a crucial point when investing in Burgundy wine: The region cannot be regarded as a single, uniform investment opportunity.

Differences between producers, vineyards, vintages and actual availability can be substantial. Increased interest in the most sought-after producers does not necessarily mean that the rest of the region will follow the same trajectory.

For investors, this reinforces the importance of a highly selective approach, where a producer's market position and the investment potential of an individual wine carry greater weight than the region's overall performance.

At RareWine Invest, you benefit from RareWine Trading's daily presence and activity in this market. Domaine de la Romanée-Conti, for example, is unsurprisingly one of the driving forces behind positive growth and market activity at present.

Champagne Delivers Stronger Regional Price Performance

While Burgundy has attracted the greatest trading interest, Champagne has delivered the strongest price performance among Liv-ex's regional indices in the third quarter of this year.

The Champagne 50 index rose by 3.38%, significantly outperforming Burgundy's 0.67% and the broader Fine Wine 1000 index's 0.89%.

This difference illustrates that trading activity and price performance do not necessarily move in tandem.

While Burgundy's performance is largely characterised by demand for specific producers, Champagne is demonstrating clearer positive momentum at the regional index level.

This does not mean that all Champagnes are increasing in value. However, it does show that Champagne, as an investment category, has enjoyed a relatively strong period compared with the other leading wine regions.

RareWine Invest's Opinion

The latest market figures provide grounds for cautious optimism, but they also underline that a general recovery in the fine wine market will not necessarily lift all wines at the same pace.

Interest in mature wines illustrates the importance of scarcity and consumption. Burgundy demonstrates how demand can become concentrated around a limited number of producers, while Champagne shows that price performance can be stronger across a broader regional index.

What these developments have in common is that understanding the factors driving demand for individual wines is becoming increasingly important.

For investors, it is therefore not simply a matter of gaining exposure to the right regions, but equally of owning the right wines within them.