Bordeaux prices have dropped in the past 24 months amid a wider fine wine market malaise, according to data in the Market Watch section of Decanter magazine’s newly published March 2025 issue.

Market Watch, which is also published on Decanter Premium, is sponsored by international merchant Bordeaux Index and its LiveTrade online trading platform.

‘Bordeaux currently occupies an unusual position in the fine wine market,’ said Bordeaux Index, giving its view on the region’s performance.

‘It remains the most significantly traded region – due to the overall quantities available and prominence – but at the same time it has perhaps the most subdued relative demand dynamics across the collector base.’

It noted that wine quality is remarkably high, especially in the last decade or so, but also that ‘there is an argument that collectors are looking elsewhere and are potentially jaded by successive muted en primeur campaigns’.

The merchant added, ‘Some believe that a resumption in overall fine wine market momentum might particularly benefit Bordeaux, while others tend to think that the region has to make some changes in its pricing and distribution to catalyse overall activity.

‘We potentially sit between these two positions, retaining great enthusiasm for the region and its significance but conscious that certain changes could drive outsized recovery of interest.’

Bordeaux Index is hosting a critical reappraisal of top Bordeaux 2015-vintage wines in February, and the resultant scores could be interesting to watch. LiveTrade data suggested mixed price performances on several high-profile wines since en primeur release.

Liv-ex, a global marketplace for the trade, recently noted a ‘significant stock overhang’ affecting younger Bordeaux vintages on the market, in particular. Its Bordeaux 500 index was down by around 4% in value in five years to the end of 2024.

This month’s Market Watch section also features survey data from consultancy group Wine Lister, which recently found that respondents were split on when the fine wine market might see more of a general recovery.

Resource: decanter.com