Fine wine declines further in November

The Liv-ex Fine Wine 100 index continued its downward spiral in November, declining 1.3% as various global events continued to bite.

Over the course of November the sterling strengthened somewhat against the euro and while it weakened against the dollar, the tariffs imposed in October really took hold and with on-going instability in Hong Kong, “buyers became increasingly cautious reducing their commitment to the market,” said Liv-ex.

Although not in absolute freefall, this is the third month of decline and the biggest monthly downturn since December 2017.

The Fine Wine 100 is undoubtedly going to end the year in the red having largely been under-performing all year bar a few months this summer.

Nonetheless, the wider performance of the index aside, brands went up and down as usual.

Domaine Leflaive’s 2015 Puligny Montrachet Clavoillon was the month’s best mover, up 7.3%.Bartolo Mascarello’s 2014 Barolo and Giacomo Conterno’s 2010 Barolo Riserva Monfortino – up 5.1% and 3.5% respectively – and the 2006 Dom Pérignon, perhaps as a result of their (current) lack of US tariffs were all moving up too.

A mixed bag of Bordeaux and Burgundy labels were heading down however, including Domaine de la Romanée-Conti’s 2015 La Tâche, the 2009 Haut Bailly, 2000 Mouton Rothschild and Armand Rousseau’s 2016 Chambertin Clos de Bèze.

The month’s biggest faller was Raveneau’s 2016 Chablis Montée Tonnerre, down 9.8%.