The fine wine market is showing signs of improvement after a prolonged period of falling prices. For private collectors, this brings a welcome combination: confidence is returning, while many wines remain considerably more affordable than they were at the market’s peak.

The latest Liv-ex report points to particular interest in mature Bordeaux. For those building a cellar to enjoy, the opportunity is straightforward: well-aged wines may now offer a compelling alternative to buying young bottles and waiting years to open them.

All major Liv-ex indices rose in August. The Liv-ex 100, which tracks 100 leading fine wines, gained 0.7%, while the broader Liv-ex 1000 rose 0.5%. They stood 4.4% and 2.0% above their respective levels a year earlier.

These are encouraging developments, although the recovery remains uneven. Individual producers and vintages can behave very differently from the market as a whole.

Despite recent gains, prices remain well below their previous highs. The report places the broad market around its 2020 lows, or roughly 2015 levels after allowing for inflation.  That does not mean every bottle is available at a decade-old price. It does mean collectors may find their budget goes further than it did a few years ago, particularly when looking beyond new releases.  For those who bought near the peak, the improvement is welcome, but it will not necessarily have restored earlier purchase values.

The report’s strongest theme is renewed demand for older Bordeaux, particularly the leading estates’ vintages from 2000 to 2010.  Many of these wines are approaching or already within their drinking windows, depending on the château, vintage and storage history. They offer the pleasure of bottle age without the same wait—and years of additional storage costs—that come with younger purchases.

Liv-ex reports a healthier balance of buying interest and available stock for older First Growths than for vintages from 2020 onwards. Recent releases still face more competition from wine available for sale.

There are striking differences even among famous names. The report places Latour, Margaux and Haut-Brion 2000 at or around their 2015 price lows, while Mouton Rothschild 2000 remains above those levels. Comparing individual wines matters more than relying on a vintage’s reputation alone.

September’s picture is more encouraging, with firmer demand and modest price gains. For private collectors, the most tangible opportunity is the chance to add well-chosen wines with useful bottle age—and enjoy them sooner.