Global Market Overview in H1 2025 - The global fine wine market is experiencing a recovery phase, with a 6.3% increase in monthly transaction volume compared to the previous year, averaging 2,234 transactions per month [3] - Despite a decline in prices, the volume of wine sold has increased, indicating a shift in buyer behavior towards value-oriented purchases [3] Buyer Preferences - Buyers are favoring older vintages of high-quality wines over newer ones, which face greater pressure due to high sales volumes in the secondary market [6] - Value is becoming paramount, with buyers increasingly opting for wines that offer high quality at reasonable prices, rather than just well-known brands [6] - Notably, the trading volume of prestigious estates like First Growths and top Burgundy and Champagne producers has increased, suggesting that buyers see long-term value in these wines despite falling prices [6] Bordeaux Market Recovery - The Bordeaux wine market is showing signs of recovery, with a 9.3% increase in monthly transaction volume in 2025 compared to 2024 [9] - By mid-2025, 1,015 different Bordeaux wines have been traded, representing 88% of the total volume traded in 2024 [10] - However, Bordeaux wines are under significant price pressure, with an average price drop of 7.15% for wines that have been repurchased [10] Burgundy Market Trends - The Burgundy wine market is also in a recovery phase, with a slight decrease in transaction volume but stable monthly trading activity [16] - The average price of Burgundy wines has decreased by 5.9%, indicating a cautious market attitude [18] - Despite the price decline, 32.7% of Burgundy wines have seen price increases, suggesting a selective buyer interest in high-quality vintages [18] Champagne Market Stability - The Champagne market has shown resilience, with price declines significantly lower than those in Bordeaux and Burgundy [21] - The average price of Champagne has only slightly decreased from £1,996 to £1,948, while trading volumes remain stable [21] - Future supply constraints could lead to price increases, enhancing the market's growth potential [21] Italian Wine Market Dynamics - The Italian wine market is undergoing consolidation, with older vintages (pre-2002) seeing a 36% increase in trading prices, outperforming the regional average [23] - Despite a 7.2% average price drop across 338 Italian wines, 30% of these wines have seen price increases compared to the previous year [25] - The top ten Italian producers account for 64% of total trading volume, indicating a preference for well-known brands among collectors and investors [27] U.S. Market Challenges - The U.S. wine market is facing significant challenges, with over 80% of wines experiencing price declines [29] - Despite this, transaction volumes remain stable, with total trading volume in 2025 expected to slightly exceed that of 2024 [29] - Notable U.S. brands are under pressure due to reduced demand from the Chinese market, impacting their pricing and market position [29] Other Global Market Changes - The global fine wine market outside the major regions is showing resilience, with a projected 15.3% increase in trading volume compared to 2024 [31] - Factors driving this growth include strong performances from South American and Spanish wines, as well as a resurgence of Australian wines in the Chinese market [31][33] Market Outlook and Summary - The fine wine market remains in an adjustment phase, but signs of recovery are evident in several regions, with buyers becoming more discerning about value and quality [35] - Key regions like Burgundy and Bordeaux are stabilizing, while Italian top estates are consolidating their market positions [35] - The next six months will be crucial for shaping market sentiment for 2026, influenced by macroeconomic factors and currency fluctuations [35]