- Fine wine stayed steady in Q3 as equities and commodities fell into bear markets.
- The Champagne 50 was the best-performing index of the Liv-ex Fine Wine 1000.
- Two vintages of Louis Roederer Cristal were the most-traded wines in Q3.
- Sterling weakness continued to bring both opportunity and risk for buyers.
There was much to distract the market from the persistent narrative of economic gloom in the third quarter. But behind the solemnity of the state funeral of the late Queen Elizabeth II, Europe’s scorching summer heatwaves and Bordeaux’s autumn releases the dreaded drum of recession and downturn has continued to beat a steady rhythm.
Global equities rallied in July and August but ended September firmly in bear market territory, with rising energy prices, further interest rate hikes from central banks and geopolitical uncertainty playing on market fears.
Quarter-on-quarter the Liv-ex Fine Wine 50 only rose 1.3% but even this modest performance was enough to see it out-perform global equities and commodities.
