The Liv-ex Fine Wine 100 index has seen its biggest monthly increase in more than three years, indicating that the secondary market has come to life ahead of the Bordeaux 2015 en primeur campaign.

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The fine wine market is showing signs of bursting into life after the Liv-ex Fine Wine 100 Index rose by nearly 2.7% in March – its biggest monthly increase in more than three years.

The 2.69% increase in the index – considered a benchmark, including 100 of the most sought-after fine wines on the secondary market – is the largest monthly increase since February 2013, when it rose 3.05%.

Since then, the Fine Wine 100 Index experienced a rapid descent from about 280 to well below 240 in mid-2014, since when it has remained fairly static – but March’s increase to 250.25 was its fourth consecutive monthly rise.

Liv-ex said the weakness of sterling against the euro and the dollar since November last year had stimulated trade, but added that prices continued to rise in March, when sterling was relatively stable.

‘With just days until the release of Bordeaux 2015 – considered to be a good to very good vintage – the market is braced for price rises,’ said Liv-ex director Justin Gibbs, speaking late last week.

‘Having seen prices fall for five consecutive years, buyers would therefore seem to be making the most of physical stock available.’

More than 80% of the wines listed on the Fine Wine 100 Index experienced gains in March, with losses described as ‘mostly minimal’ – although Mouton Rothschild 2000 saw its price fall by 4.5%.

The Liv-ex Fine Wine 50 Index – which charts trade in the last 10 physical vintages (currently 2003-2012) of the five Bordeaux First Growths – rose 3.3% in March, its biggest monthly increase since January 2013.