Trends and Strategy for Fine Wine Investments in 2025
After a challenging past year, when wine prices continued to decline following the sharp drop in 2023, we now see reasons to feel hopeful about the year ahead. Over the last three months, prices have remained relatively stable—marking a clear contrast to the steeper declines seen in 2023 and the slower, but ongoing, downturn in 2024.
Here’s what to watch:
1. Signs of stabilization in “overheated” regions
Regions that led the decade-long bull run—particularly Burgundy, Champagne, and Piedmont—experienced some of the steepest pullbacks in 2024, with declines ranging from 9% to 14%. Yet these corrections may be laying the groundwork for recovery. As prices return closer to long-term averages, collector and investor interest tends to re-emerge. Top Burgundian Grand Crus and prestige Champagnes are beginning to represent once-in-a-generation value opportunities, and early indicators suggest buyers are starting to return in anticipation of a more balanced supply-demand dynamic.
2. Bordeaux’s unique 2024 harvest and price adjustments
A particularly weak 2024 vintage in Bordeaux added another twist. Several leading châteaux made significant price cuts—reportedly up to 40%—on their 2024 releases. These steep reductions, reminiscent of post-2008 pricing, may attract attention from both enthusiasts and investors looking for value. However, we've already seen that the overall quality of the vintage is below average, so demand has remained lower than it was last year, when quality was high and pricing more attractive.
3. Portfolio choices
Maintain a broad base of high-quality holdings - We continue to hold a balanced mix of top wines from Europe’s major regions—Burgundy, Champagne, Bordeaux, Tuscany, and Piedmont—to ensure that no single market movement significantly impacts overall performance.
Leaning into Italy’s resilience - Italy’s fine wine segment held up relatively well in 2024, with a modest decline of around 6%. We plan to expand purchases in Tuscany and Piedmont, where younger vintages and emerging producers offer both quality and potential upside.
4. Regional outlook for 2025
Burgundy
After a 14% correction, Grand Cru and Premier Cru villages like Vosne-Romanée and Chambolle-Musigny are prime candidates for recovery as collectors return to secure undervalued wines.
Champagne
With prices down 9–10%, prestige houses (e.g., Krug, Dom Pérignon) and grower-producer cuvées alike offer attractive buying opportunities, especially as global travel and on-premise demand begin to rebound.
Tuscany
Super-Tuscans from Bolgheri and iconic Brunello di Montalcino wines remain portfolio cornerstones, while Chianti Classico “Gran Selezione” is benefitting from improved quality and lower yields.
Piedmont
Leading crus in Barolo and Barbaresco are showing tighter bid-ask spreads. Newly released Nebbiolo-based wines offer strong cellaring potential for long-term investors.
United States
Cult Napa Cabernets and Oregon Pinots continue to enjoy strong domestic support. We expect steady demand for benchmark labels (e.g., Screaming Eagle, Harlan), even as secondary market volumes normalize.
Looking ahead with confidence
While 2024’s downturn challenged market sentiment, it also created a broader set of opportunities for patient investors. By combining disciplined valuation thresholds with geographic diversification and a close watch on supply-side developments, we believe 2025 could mark the beginning of the next sustainable up-cycle in fine wine.
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