Tag: best wines to invest in 2025

Categories
News

The best-performing Bordeaux, Burgundy and Champagne wines of 2025

Chateau Yquem vineyard
  • Even as Bordeaux, Burgundy and Champagne declined in 2025, select wines delivered double-digit gains.
  • Value, scarcity and specificity proved decisive as investors became more selective.
  • Early signs of market broadening suggest the correction phase may be nearing its end.

In our annual Fine Wine Report, published last week, we revealed the top-performing wines of 2025 – a diverse group spanning the Rhône, Burgundy, Tuscany and Sauternes. Some of these standout performers posted gains of over 65% in a year defined by prolonged market weakness, subdued sentiment and cautious capital allocation. But beyond these headline risers lies a subtler story.

In this final article of the year, we focus on the three most important fine wine regions globally by demand and liquidity: Bordeaux, Burgundy and Champagne. These regions were among the hardest hit during the downturn. Year-to-date, Bordeaux remains down 6.6%, Burgundy – 4.4%, and Champagne – 4.3%.

Yet within each of these regions, distinct pockets of resilience and growth have emerged. Individual wines not only stabilised but delivered meaningful appreciation, offering a clear view into how capital behaves at the tail end of a correction.

What follows is a closer look at the best-performing individual wine indices in Bordeaux, Burgundy and Champagne in 2025, and what they might reveal about the next phase of the fine wine market.

Key points

  • Regional averages mask significant dispersion at the individual wine level
  • Market downturns tend to reward selectivity rather than broad exposure
  • Outliers often signal early shifts in investor behaviour

Bordeaux investment: Value at the bottom of the cycle

Bordeaux, the most important region in fine wine by traded volume and global recognition, was also among the weakest performers in 2025. A muted En Primeur campaign, coupled with high stock levels and investor fatigue following several years of overpricing, placed sustained downward pressure on prices.

However, Bordeaux’s top performers tell a more nuanced story.

By mid-year, prices across the region appeared to find a floor. As the year progressed, demand selectively returned – first to wines offering clear value relative to quality, and later to brands that had fallen hardest during the correction.

Bordeaux top performing wines 2025

The top performing Bordeaux this year has been Château Gracia, rising 11.7%. The wine has an average price per case of just £881, underscoring the importance of value. The second best performer was Château Smith Haut Lafitte Blanc, up 9.6%. It was followed by Grand Puy Lacoste (9.0%), another relatively undervalued classically styled Pauillac, which saw an uptick in the last quarter. The wine has an average price per case of £589, and has enjoyed a 64% rise in the last decade.

In a market saturated with stock, prices only rise where quality is evident and upside remains. In 2025, investors increasingly favoured estates offering an avenue for growth. 

Key points

  • Lower entry prices improve downside protection in uncertain markets
  • Classic styles and strong track records continue to attract long-term capital
  • White Bordeaux is gaining relevance within diversified wine portfolios

Burgundy’s biggest risers: after the fall

Burgundy remains Bordeaux’s closest rival in market share terms, and one of the most volatile regions of the past decade. After dramatic price appreciation between 2019 and 2022, Burgundy was among the steepest fallers during the downturn, alongside Champagne.

In 2025, Burgundy declined 4.4% on average, but the performance dispersion within the region widened sharply.

Burgundy top performing wines 2025

Dujac’s Puligny-Montrachet Les Folatières has been the best performing Burgundy this year, up 25.3%, closely followed by Comte Liger Belair, Nuits Saint Georges Lavieres, up 24.6%. The rest of the pack recorded more modest gains in comparison, between 5% and 11%.

After years of capital concentrating narrowly on the most famous Grand Crus, 2025 marked the beginning of a more discriminating phase for Burgundy investment.

Key points

  • Burgundy’s volatility reflects its scarcity-driven pricing structureCorrections tend to be sharper after periods of rapid appreciation
  • Relative value within elite producer ranges is increasingly important

Champagne: From tariff shock to broadening demand

Champagne’s trajectory in 2025 was shaped by external macro forces. The US tariff threat in March hit the region particularly hard, triggering a sharp dip in prices. However, clarity emerged by July, and with it a steady return of demand.

Year-to-date, Champagne has finished down 4.3%, but the region’s top performers tell a story of structural strength and evolving investor preferences.

Champagne top performing wines 2025

The top performing wine from the region has been a grower Champagne; Egly-Ouriet has increased 15.9% so far this year. Scarcity, authenticity and critical acclaim have elevated top growers into an investment category once dominated exclusively by Grandes Marques.

Meanwhile, Larmandier-Bernier’s Terre de Vertus in second place, with a 12.0% rise, illustrates the appeal of singular wines: 100% Chardonnay, single terroir, single vintage, and priced well below prestige cuvées. Meanwhile, Moët’s Grand Vintage, up 11.7%, highlights that recognisable brands at accessible price points still command deep global demand.

Collectively, these performers reflect Champagne’s unique strength: a balance of brand familiarity, approachability and increasing diversity.

Key points

  • Brand recognition underpins long-term liquidity
  • Grower Champagne continues to gain institutional recognition
  • Accessible pricing supports both liquidity and diversification

Looking ahead: From narrowing to broadening

One of the defining themes in our annual report – and a key signal for 2026 – is the return of market broadening.

During periods of stress, demand narrows. Capital clusters around the safest names and most mature vintages, while secondary and emerging opportunities are overlooked. The past three years exemplified this dynamic.

The performance patterns seen in Bordeaux, Burgundy and Champagne in 2025 suggest that this phase is beginning to reverse. As volatility subsides and confidence returns, investors are once again willing to look beyond the obvious. The fog is lifting, and with it comes a clearer view of where the next opportunities may lie.

In fine wine, as in all long-term markets, recovery rarely announces itself loudly. It begins quietly – in the outliers.

WineCap’s independent market analysis showcases the value of portfolio diversification and the stability offered by investing in wine. Speak to one of our wine investment experts and start building your portfolio. Schedule your free consultation today.

Categories
Learn

A year in review: 2025’s top wine investment trends

DRC fine wine bottle

In our final summary of the year, we look back at 2025’s top wine investment stories, from the impact of US tariffs on regional demand to market stabilisation and improvement in the second half of the year.  

Key themes:

WineCap’s round-up of 2025’s top stories presents a picture of a fine wine market that is showing signs of renewal following three years of downturn. Annual UK and US wealth reports reaffirmed fine wine’s growing position in diversified portfolios, despite tariff threats, restrained En Primeur activity, and uneven regional performance influencing sentiment. Early indicators of stabilisation in key regions and vibrant critic endorsement point to a transitioning market, laying foundations for fresh momentum.

UK and US wealth reports predict third-year rise in wine investing 

For the third year running, the year-start WineCap wealth outlook was positive. Predictions of rising demand for fine wine gradually bore out over an uncertain year. 

A combined 95% of wealth managers in the UK and the US said that fine wine would remain a top-performing collectible despite political uncertainty and shifting interest rates. Across both countries, fine wine was seen as one of the best alternative investments, outperforming other luxury assets such as art, watches, whiskey, and handbags.

In the UK, the trend was driven by investors seeking tax efficiency, stability, and diversification benefits, with wine increasingly appearing in higher-risk portfolios and retirement planning.

Factors increasing demand for fine wine investment table

Meanwhile, in the US, the trajectory was similar, with protection from currency volatility an additional attraction of fine wine investment.

 

Benefits of fine wine investment pie chart

Wealth managers from both sides of the Atlantic noted that the proportion of younger, data-driven investors entering the market continues to rise, and an overall shift in fine wine evolving into a broader wealth-building strategy rather than a niche passion.

Key points

  • At the start of the year, 95% of UK and US wealth managers felt positive about fine wine investment.
  • Fine wine is appearing in higher-risk portfolios.
  • Fine wine is moving from specialist investment interest to mainstream strategy.

Trump tariffs bring uncertainty to fine wine market 

With Donald Trump’s return to the White House at the beginning of 2025, the new administration posited fresh economic policies, including the threat of 200% tariffs on alcohol from the EU. The announcement sent a chill through the fine wine market: buyers paused, demand slipped, and prices softened as investors temporarily redirected capital toward equities, property, and currency.

Yet alternative assets held firmer than expected. WineCap’s UK and US Wealth Reports showed that 58% and 74% of respondents respectively continued to view assets such as fine wine as attractive stores of value.

Stability returned in July 2025, when the US and EU agreed to a far more measured 15% tariff on European exports. With clarity restored, buyers re-entered the market – particularly in regions initially hit hardest, such as Champagne and Spain, which were among the first to rebound.

Key points

  • Trump’s EU alcohol tariff threat initially dampened market activity.
  • WineCap wealth reports indicate fine wine remains attractive regardless of the political climate.
  • Tariff consolidation in July saw US buying demand return, especially in the most impacted regions like Champagne and Spain.

Subdued Bordeaux 2024 En Primeur campaign

The annual Bordeaux En Primeur 2024 campaign launched towards the end of April against the background of a cautious market, triggering 20-30% price cuts in the leading French wine region in an attempt to increase demand. With Bordeaux’s global market share losing ground and a general correction in fine wine prices, discounting was a key driver of sales, over vintage (regarded as uneven) and brand. This approach increased access to rare-value opportunities in Bordeaux wine, most notably for First Growth estates, Lafite Rothschild and Mouton Rothschild. The 2024 vintage proved a strong year for white wines, with Haut-Brion and Domaine de Chevalier among the standouts.

Chateau Mouton Rothschild wine performance bar graph

Key points

  • Critics noted that Bordeaux 2024 was the perfect vintage for a reset. 
  • En Primeur demand was soft and price cuts were necessary.
  • First Growths Lafite and Mouton Rothschild were among the campaign’s biggest successes.

Early signs of stabilisation in Champagne and Italy

After two years of consistent declines, the fine wine market hinted at an early reversal in the second half of 2025, with Champagne being the first region to indicate a small upturn, in its first month-on-month gain in a year in June. With the majority of leading vintages of Champagne brands like Dom Pérignon, Cristal, Salon, Krug, and Taittinger flatlining for at least six months, a welcome phase of consolidation was indicated. 

Champagne’s strong recognisability, cellaring capacity, and relatively accessible entry points have positioned it well for a return to growth. Indeed, the region showing resilience throughout the second half of 2025. The Rhône also saw stronger demand, while “off” vintages in Bordeaux trended in a region that, alongside wine from Burgundy, showed signs of finding its bottom.

Momentum characterised the Italian fine wine market too, with the Tuscan region gaining traction as investors looked to Brunello and Super Tuscans like Sassicaia, Ornellaia, and Masseto. Performance for key Piedmont wines, however, remained softer. This was due to owing to investor preference for regions with wider international recognition and greater liquidity in the current economic climate. In California, global demand and strong branding fuelled rising interest for labels such as Opus One and Screaming Eagle.

Key points

  • Fine wine reversal indicated after two years of decline.
  • Champagne and Tuscany were the first to turn positive. 
  • Bordeaux “off” vintages stood out, while strong branding drove demand for Champagne and California’s cult wines.

La Place: strong global reach meets soft sentiment

In September, the 2025 La Place campaign continued its steady expansion beyond French Bordeaux wines with more than 130 labels also representing emblematic estates from Tuscany, California, Chile, Argentina, and Australia, released through the prestigious distribution network. This year’s campaign unfolded against a backdrop of economic ambiguity and a softer fine wine market environment. This naturally led to strategic price cuts. Overall, La Place 2025 underperformed, but this signalled a cautious stance in the market rather than decline.

Key points

  • La Place continued to reflect global quality.
  • Strategic price cuts were a key feature of this campaign.
  • Campaign lagged, but the reason was mostly tied to general market mood and macroeconomic factors. 

Record fine wine auctions in 2025

Against a backdrop of renewed regional stability in the fine wine market in the second half of the year, several record auctions hit the headlines. While multimillion-dollar sales from the likes of William I. Koch ($28.8mln) and Jacqueline (de Rothschild) Piatigorsky ($11.16 mln) displayed appetite for provenance and iconic vintages, they did not reflect the core secondary market. However, analytical investors could detect long-term demand for blue-chip wines and micro-trends in these auction results.

More reliable signals came from the 2025 Hospices de Beaune auction, which achieved €18.75 million, the third-highest total in its 166-year history. Robust bidding for top cuvées – notably the Bâtard-Montrachet Grand Cru “Cuvée Dames de Flandres” at €400,000 per barrel and the Pommard Premier Cru Les Rugiens President’s Barrel, also at €400,000 – confirmed the market’s persistent confidence in Burgundy terroir and mature premium whites. These results paralleled broader trends seen throughout the year with a decisive pivot towards established producers and investment-grade appellations.

Nevertheless, headline auctions hint at fine wine market sentiment at the very top end like DRC and Petrus. They do not reflect the reality of the investment market as a whole. Auction headlines offer pointers to appetite for particular fine wine segments, but data-driven portfolios continue to cultivate the potential for sustainable returns.

Key points

  • Several record-setting fine wine auctions took place in 2025, including a landmark Hospices de Beaune sale.
  • Strong results confirmed appetite for established estates and iconic vintages, but did not reflect the broader market dynamics.
  • A diversified investment portfolio goes beyond the headline-grabbing names to good value alternatives with strong growth potential.

First positive gain for the fine wine market in Q3

The fine wine market started to stabilise in Q3 as global economic sentiment improved and the anticipation of steady rate cuts supported alternative assets. Regions that led this early-stage market equilibrium were Champagne, the Rhône, notably with Domaine du Vieux Télégraphe, Tuscany, famous Napa wineries in California, and First Growth Bordeaux.

In the final months of the year, these regions continued to show resilience. Scarcity, selectivity, and estate reputation drove returns. This phase is signalling a market that is bottoming out and poised for gradual recovery, offering attractive entry points for medium- to long-term investors.

Key points

  • Fine wine market stabilised in H2 2025.
  • Champagne, the Rhône, Tuscany, California, and Bordeaux showed resilience.
  • This laid the ground for positive market movement.

Bordeaux 2022 dominates critics’ top wine choices

The year neared its end with the 2025 global critic rankings highlighting the fine wine market’s increased diversity. Top choices spanned with Bordeaux, California, Italy, South Africa, Etna, Central Otago, and Beaujolais. Bordeaux 2022 was the star region and vintage as Château Giscours, Château Beau-Séjour Bécot, and Château d’Issan earned top positions from Wine Spectator, Vinous, and James Suckling. The selection bolstered Bordeaux’s market significance despite the challenges the region has been facing. Alongside Bordeaux’s success, Italy and New World regions shone (particularly Californian cult labels and South African wine brands), pointing to a rise in quality across the wine world.

Wine Spectator's top 5 wines 2025

Key points

  • Annual critic ratings featured fine wine regional diversity.
  • Bordeaux 2022 was a leading choice across rankings.
  • Quality in New World wines indicated by the rising number of listings.

2025’s top-performing wines

The strongest performers of 2025 were concentrated in a few key regions. The Rhône dominated with 50% of the top movers, followed by Burgundy (30%), Tuscany (10%), and Sauternes (10%). Château Rayas led the rankings, with two vintages taking the year’s top spots. Rayas prices have been particularly volatile following the passing of Emmanuel Reynaud in November. A similar market reaction occurred after the sudden death of Jacques Reynaud in 1997, whose tenure from 1978 cemented Rayas’ reputation as one of the Rhône’s modern icons.

Momentum extended across the Rhône more broadly. E. Guigal’s Cote Rotie Chateau d’Ampuis  2019 climbed 40%, while Paul Jaboulet Aîné’s Hermitage La Chapelle Rouge 2014 gained 35%.

In Burgundy, DRC La Tache 2018 emerged as the region’s standout, up nearly 37% over the year. Tuscany’s top performer was Soldera Casse Basse, which rose 36% and continues its long-term outperformance. Over the past decade, Soldera prices have risen an exceptional 224% – well ahead of the Super Tuscans.

2025 top-performing wines table

Key points

  • The Rhône dominates the list of 2025’s top-performing wines.
  • Château Rayas prices are rising sharply following the death of Emmanuel Reynaud.
  • Soldera Case Basse is Italy’s top performer of 2025 and continues to outperform the Super Tuscans over the long term.

Q4 2025: recovery precedes diversification 

By the final quarter of 2025, the fine wine market had begun to emerge from its most prolonged downturn in over a decade. The recovery remains uneven and cannot yet be described as a full rebound. However, underlying indicators suggest that the foundations for 2026 are firmer than at any point since the correction began.

Prices have stabilised, liquidity has improved, and several leading brands have now posted consistent monthly gains. Importantly, the early recovery has been measured rather than speculative, encouraging renewed participation from both private collectors and wealth managers.

Brand-level movements in late 2025 reinforced this early momentum. Many of the world’s most recognisable estates – across Bordeaux, Champagne, and the Rhône – posted modest but steady price increases, while over half of the most traded wines globally, finished November in the positive territory. A handful of standout performers, including top Bordeaux châteaux, iconic Rhône bottlings, and prestige cuvée Champagnes, delivered some of the strongest month-on-month rises seen all year. Not every segment moved uniformly: a number of cult California and Piedmont labels continued to ease back, underlining that different regions and vintages are still finding their floors at different times. The picture is stabilising, but it remains nuanced.

This complexity will define the transition into 2026. Investors should expect a market composed of multiple micro-cycles, where pricing floors and recovery curves vary by region, style, and vintage. 

Key points

  • Q4 2025 saw stabilising prices and improved liquidity after the longest downturn in over a decade.
  • Over half of the most actively traded wines posted gains in November 2025.
  • Recovery remains uneven, with different regions and vintages finding pricing floors at different times.

Looking ahead to 2026

Looking ahead, diversity is likely to shape the next stage of recovery. As fine wine continued to evolve from into a mainstream portfolio tool, investors will broaden their focus beyond the blue-chips. This shift is supported by the industry’s accelerated modernisation. Expanded global distribution networks, higher transparency, sustainability initiatives, and improved data access are making fine wine more accessible. The sector still faces an image challenge, but meaningful innovation is helping to reshape perceptions.

While a sharp, v-shaped upturn remains unlikely, the groundwork for a slow, sustainable and more widely distributed recovery is now in place. For medium- to long-term investors, 2026 is expected to offer clearer opportunities, improved sentiment, and a more diversified set of growth pathways than the volatile years immediately preceding it.

Key points

  • Broader diversification, stronger branding, and industry modernisation will shape 2026.
  • A steady, sustainable recovery is more likely than a rapid rebound, offering attractive entry points for investors.

FAQs

What were the biggest fine wine investment trends of 2025?
The major themes of 2025 included tariff-driven market volatility, followed by stabilisation in H2. 

Did the fine wine market recover in 2025?
The market began to show early recovery in Q2 and delivered its first positive quarter since 2022 in Q3. Stabilisation strengthened in the second half of the year, although the recovery remains uneven across regions.

Why was 2025 a turning point for the fine wine market?
2025 marked a shift from a three-year downturn to early signs of renewal. Prices stabilised, liquidity improved, younger investors increased their participation, and strong critic support helped reinforce confidence in key regions.

Are US tariffs likely to continue impacting fine wine prices in 2026?
Tariffs remain a key factor to watch, but the market proved resilient in 2025. Wealth managers in both the UK and US still view fine wine as a strong inflation-resistant and diversification asset.

Which wines performed best in 2025?
The Rhône led performance, accounting for around 50% of the year’s top movers, followed by Burgundy, Tuscany and Sauternes. 

Why did Château Rayas prices surge in 2025?
Prices were highly reactive to the passing of Emmanuel Reynaud in November. This echoed the sharp price movements seen after Jacques Reynaud’s sudden death in 1997.

Which regions are expected to lead the 2026 recovery?
Champagne, Tuscany, Napa Valley, the Rhône and top-tier Bordeaux appear to be the clearest candidates for early momentum.

WineCap’s independent market analysis showcases the value of portfolio diversification and the stability offered by investing in wine. Speak to one of our wine investment experts and start building your portfolio. Schedule your free consultation today.

Categories
Learn

Fine wine investment returns: if you’d put £1,000 in 10 years ago

Piemonte Italy wine region

Fine wine has long been celebrated as both a pleasure to own and a source of steady, inflation-beating returns. But how much difference can the choice of region, producer, and timing make over the long term?

Using Wine Track data, we’ve taken a decade-long view – from 2015 to 2025 – to see exactly how a £1,000 investment in some of the world’s most sought-after wines would have performed. The results reveal disparities between regions and labels, driven by factors such as scarcity, critical acclaim, brand momentum, and the fluctuations of global demand.

In some cases, your £1,000 would have barely kept pace with inflation. In others, it could have doubled, tripled, or even more – often in places you might not expect. What’s more, because fine wine is a cyclical market, today’s leaders aren’t always tomorrow’s winners, and periods of market correction can present some of the best opportunities for future growth.

This analysis explores several key regions, showing not just the percentage returns but also what your £1,000 investment would be worth today, and what you could have bought then compared with now.

Bordeaux: a decade of divergence

In 2015, a £1,000 investment in a top Bordeaux could have taken very different paths over the following decade. If you had chosen Château Figeac, your £1,000 would now be worth £2,310 – more than doubling your money thanks to a +131% average return over the past decade. This performance has been fuelled by Figeac’s promotion to Premier Grand Cru Classé A and consistently high-scoring vintages.

Château Les Carmes Haut-Brion in Pessac-Léognan has been another star performer, climbing 163% over the past ten years. This is a rare combination of strong brand momentum, critical acclaim, and relative scarcity, making it one of the most compelling growth stories in the Bordeaux market.

By contrast, the First Growths have had a more subdued performance. Looking at the current average market prices for the several blue-chip Pauillac labels and their second wines, the past decade has been anything but uniform:

  • Château Lafite Rothschild sits today at around £5,106 per case, up just 6% over the last decade. This reflects both its lofty 2015 starting point and the cooling of the top-tier Bordeaux segment in recent years. However, some vintages have outperformed the overall brand.
  • Château Latour is similar, with a 10-year rise of 4%, now averaging £4,960 per case.
  • Château Mouton Rothschild fared better, with a 22% decade-long gain to £4,496 per case, thanks partly to strong demand for key vintages in the late 2010s.

The best relative value in the First Growth orbit has often been found in their second wines:

This ‘second wine premium’ over the decade illustrates a key point for investors: sometimes the best relative value comes not from the pinnacle labels, but from their immediate tier below. These wines benefit from the halo effect of the grand vin’s reputation while offering lower starting prices.

However, the current context matters. The performance of the Liv-ex 50 (First Growths) and Bordeaux 500 (broader region) shows how the 2022 peak has given way to a sharp correction, with prices now trending towards 2015 levels. This is classic market cyclicality: those who bought during the previous trough and held through the rally have realised strong gains; those entering now may be positioning themselves at the start of the next upswing.

Burgundy: the market reset

If Bordeaux’s decade has been a story of cyclical swings and selective outperformance, Burgundy’s has been one of explosive gains followed by a sharp correction. The Liv-ex Burgundy 150 index more than quadrupled between 2015 and its 2022 peak, fuelled by surging global demand for small-production, high-prestige domaines. Since then, prices have retraced significantly, but remain far above their 2015 levels, underscoring the long-term wealth-generating power of the region’s top wines.

At the very top sits Domaine de la Romanée-Conti, Romanée-Conti Grand Cru, whose sky-high starting point means it was always going to operate in a different financial stratosphere to most wines. Over the past decade, prices have risen by 147%, elevating the wine’s average price per case to £213,303.

Among the biggest long-term winners is Domaine René Engel, Vosne-Romanée Premier Cru Aux Brûlées, which has climbed 1,482% in the past decade. That’s enough to turn £1,000 into a staggering £15,820 today. Engel’s cult status has only intensified since the sudden passing of Philippe Engel in 2005, leaving the estate without a clear successor, and its eventual sale to François Pinault, who renamed it Domaine d’Eugénie.

Meanwhile, Domaine Leroy Richebourg Grand Cru has appreciated by 507% over the same period, due to a combination of biodynamic viticulture, minuscule yields, and demand consistently outstripping supply.

The sheer magnitude of these returns reflects Burgundy’s unique market dynamics:

  • Scarcity at every level – often just a handful of barrels per cru.
  • Global demand from Asia to the Americas.
  • Producer-led brand power that eclipses even vintage variation in driving prices.

Yet the post-2022 decline in Burgundy shows that even this hallowed region is not immune to market cycles. For investors, today’s lower prices could represent a rare opportunity to enter or rebalance Burgundy holdings – though the barriers to entry at the very top remain as formidable as ever.

Champagne: the market fizzes with potential

Champagne has traditionally been viewed as a steady, blue-chip corner of the fine wine market: less volatile than Burgundy and Bordeaux, yet capable of delivering strong long-term growth. Over the past decade, the Champagne 50 index has shown a clear upward trajectory, punctuated by a sharp rally between 2019 and 2022 before a mild correction. 

The most eye-catching long-term gains have come not only from the established houses but also from small-production grower-producers like Egly-Ouriet, Brut Millésime Grand Cru, which has surged 633% in the last decade. That growth has been fuelled by a wave of sommelier-driven interest in terroir-driven Champagne and limited allocations reaching the market.

Prestige cuvées from major houses have also rewarded patient investors. Salon Le Mesnil-sur-Oger Grand Cru has delivered a 298% return, while Billecart-Salmon Le Clos Saint-Hilaire climbed 203%.

A particularly notable outlier is Cédric Bouchard, Rosé de Saignée Le Creux d’Enfer, with an extraordinary 418% return – turning £1,000 into £5,180 – reflecting the explosive demand for rare, artisanal Champagne in recent years.

Champagne’s appeal lies in its dual identity: both a luxury good for immediate enjoyment and a serious investment asset. With the market cooling slightly from 2022 highs, current conditions may offer attractive entry points for those looking to secure allocations before the next phase of appreciation.

Italy: quiet consistency and standout performers

Italy’s fine wine market has been a story of steady, broad-based growth over the past decade, delivering consistent returns and avoiding some of the more extreme volatility seen in Burgundy or Champagne. 

At the very top of the performance table sits G.B. Burlotto Barolo Monvigliero, with a remarkable 1,162% return over the last ten years. In Tuscany, Soldera Casse Basse, Brunello di Montalcino Riserva has been a powerhouse, rising 280% over the decade. The modern Tuscan icon Masseto has also posted a healthy 79%, taking £1,000 to £1,790.

Italy’s appeal lies in its combination of relative affordability, quality across multiple regions, and improving international distribution. While Piedmont’s and Tuscany’s top names have led the charge, there’s also significant breadth in the country from Abruzzo, Veneto, and beyond, giving investors multiple entry points into a market with both stability and pockets of spectacular growth.

Lessons from a decade of fine wine investing

Looking back from 2025, one reality stands out: fine wine is not a single market, but a patchwork of micro-markets, each with its own rhythm, risks, and rewards. 

For investors, three lessons are clear:

  1. Selection is everything – Even within a single region, the difference between a modest gain and a market-beating return can be measured in multiples.
  2. Cycles create opportunity – Market peaks and troughs are inevitable; buying quality during a correction often positions you for the next rally.
  3. Diversification pays off – Spreading capital across regions and producer tiers balances the potential for growth with the stability of blue-chip holdings.

As the market sits in a post-2022 cooling phase, parallels with earlier cycles suggest that this may be a moment for strategic accumulation. History shows that the investors who pair patience with informed selection tend to enjoy the richest rewards – sometimes quite literally.