High-priced wine prices around the world have plunged for the second year...China's weak demand is to blame

It is analyzed that the price of high-priced wines such as high-end Burgundy wines and vintage champagne continued to drop sharply this year following last year due to weak demand from China.

The exchange's "Burgundy 150" index, which tracks the market price of high-priced Burgundy wines, plunged 14.4% from the start of the year to the end of November, according to data from global luxury wine exchange Liv-X quoted by the Financial Times (FT).

During the same period, the "Vintage Champagne" index fell 9.8% and the "Bordeaux" index, which has a wide range, fell 11.3%.

The "luxury wine 100" index, which reflects the mood of the overall luxury wine market, also fell 9.2%.

The global stock market is up 20% in the same period, with the luxury wine-related indexes not out of the decline.The

luxury wine market is not out of the doldrums for the second year in a row following 2023 hit by high interest rates and lower demand in Asia.

When interest rates are high, items such as wine, which do not yield profits from holding, such as interest or dividends, tend to be less attractive as investment targets.

"It's really hard," said Gregory Swartberg, CEO of Crue Wine, a London-based wine investment company. (November 2024) was the toughest month of the year," he said, adding that the recession was still far from over.