The Liv-ex 1000 index – the broadest measure of the fine wine market – closed October on 356.62, down 1.2% on the previous month, marking the biggest monthly fall for the index so far this year.
Last month, the USA announced that there would be a 25% import tariff on wines from the EU. However, wines from Champagne and Italy (among others) were not included in the new tariffs.
Interestingly, the Champagne 50 was the only sub-index within the Liv-ex 1000’s seven sub-indices to improve this month. It was up 1.9%, while all the others fell. (Italy remained steady, down just 0.1%)
The biggest faller, however, was the Burgundy 150 (-2.2%). It has also been the worst-performing sub-index so far this year, down 4.5%. By comparison, the Champagne 50 and Italy 100 are up 4.4% and 5.1% in 2019 respectively.
Are we beginning to witness the impact of US tariffs on the market?
Stay tuned, in December we will be publishing a report on the performance of the fine wine market in 2019. To reserve your copy, fill in this form.