The fine wine market has started to show early signs of recovery after two years of correction, said Wine Cap in its latest report, drawing on Liv-ex indices.

In the Q3 2025 Fine Wine Report, the analysis company explained that after two years of consistent decline, several regional indices have turned positive over the last quarter. 

Five of the Liv-ex regional indices rose in August and September, and for the first time in three years, the Liv-ex 50, which tracks the Bordeaux First Growths, also experienced a monthly uptick. 

The Liv-ex 100 likewise rose 1.1% in September, which suggests buyers are re-entering the market, likely drawn by renewed confidence following a prolonged correction period. 

Regional performance 

Turning to specific regions, the Liv-ex data showed that Champagne held its ground, maintaining near-flat performance over the quarter. 

The region benefited from increased demand in Asia and the US and continued to hold its reputation as a resilient category. 

Elsewhere, the Rhone 100 improved modestly, ending Q3 just above its Q2 levels. 

Bordeaux and Burgundy, on the other hand, dipped, with the Bordeaux 500 declining 1.7%. However, three of the six Bordeaux sub-indices did go up in September. As for Burgundy, prices softened slightly, dipping 0.2%. 

Other trends 

Later in the report, Wine Cap highlighted a selection of fine wine trends. Within this, it said ‘off-vintage’ Bordeaux is back in style, with wines from cooler or once-overlooked vintages leading. 

The Rhône wines also continue to see impressive gains, driven by limited production, critical endorsement and comparatively attractive pricing. 

Finally, the analysis provider said that scarcity continues to remain the strongest currency, demonstrated by producers like Domaine de la Romanée-Conti and Screaming Eagle.