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Investing in fine wine

ended 02. April 2026

A NEW bull run is under way in fine wines as experts advise people to invest in the sector – though they warned it is “more volatile than its reputation suggests, as anyone who invested at the peak in 2022 will attest”.

Over 20 years, the Liv-ex Fine Wine 100 Fine Wine Index has outperformed equities, but this is not a one-way market – timing and active management matter.

Many advisers suggest wine should represent 5% to 15% of a diversified portfolio and the say the key is treating it as a genuine investment – with proper storage, provenance, and active management – rather than a passion purchase that happens to appreciate.

A five-year horizon is generally ideal, allowing supply to fall and demand to grow as bottles are consumed. 

While it offers benefits like diversification and tangible value, risks include volatility, poor selection and improper storage. 

Investors should also diversify across regions and use reputable platforms with transparent ownership and proper storage arrangements.

David Jackson, Founder at Squelch, suggested starting your wine investment journey with Bordeaux and adding Supertuscans, Piedmont and Napa – though he advised avoiding Burgundy.

He added: "Wine investment has changed dramatically. Fifteen years ago the market was a genteel affair, driven by wealthy European and US collectors with long time horizons and cast-iron patience. Today it looks quite different. The mobilisation of Asian wealth into what remains a tiny global market, estimated at just $10billion annually, transformed wine into something with genuine price dynamism. 

"That's exciting, but it means volatility that catches many investors off guard. The past five years tell the story. A near 40% bull run through lockdown gave way to the longest correction in the history of reliable wine data – three years of falling prices driven by China's sluggish post-pandemic recovery, disappointing en primeur (new vintage) campaigns, and US tariff uncertainty. 

“The market returned to growth in Sept 2025, and the indicators suggest a new bull run is under way. Bordeaux, which lost market share for a decade as investors looked for value elsewhere, is firmly back, with prices at 2016 levels.”

Samuel Mather-Holgate, Managing Director & IFA at Swindon-based Mather and Murray Financial, said fine wine shouldn't be more than 5% of your investment portfolio.

He added: "Fine wine can add flavour to a portfolio, but it should be the seasoning, not the main course. It should be a satellite holding, not the backbone of a portfolio. For most investors, exotic assets like wine should usually make up around 1% to 5%, and only once the core basics are covered. 

"The sensible time horizon is usually over five years. Fine wine is illiquid, storage-sensitive, and not for money you may need in a hurry. Provenance, bonded storage and insurance are essential and can be costly. The rewards are scarcity, global demand and diversification. 

“The risks are fraud, costs, pricing swings and illiquidity, so investors need to be selective and use reputable firms. Beyond Bordeaux and Champagne, I’d also look at Burgundy, Piedmont and Tuscany, but I wouldn’t abandon France.”

Ross Lacey, Director & Independent Financial Adviser at Rayleigh-based Fairview Financial Management, advised only investing a small amount in wine.

He said: "We're pretty boring when it comes to investing. Our view is that although certain wines could appreciate in value in the future, you're reliant on someone else buying it at a higher price than you paid for it. What rationale is there for that? 

"An investment is something that has good rationale for an income and/or higher future price – company shares for example generally produce an income in the form of a dividend, and companies will aim to grow their profits over time, thus increasing the value of the company and its shares. 

"Boring, but it makes sense. If you want to speculate that wine, cars, watches or whisky may be worth more in the future, we'd recommend allocating only a small portion of your overall cash towards them, and focusing on things that have value to you in other ways ie you like the car, enjoy drinking the wine, like wearing the watch etc."

 


 

3 responses from the Newspage community

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Editor
David Jackson
Founder at Squelch
Wine investment has changed dramatically. Fifteen years ago the market was a genteel affair, driven by wealthy European and US collectors with long time horizons and cast-iron patience. Today it looks quite different. The mobilisation of Asian wealth into what remains a tiny global market (estimated at just $10bn annually) transformed wine into something with genuine price dynamism. That's exciting, but it means volatility that catches many investors off guard. The past five years tell the story. A near 40% bull run through lockdown gave way to the longest correction in the history of reliable wine data – three years of falling prices driven by China's sluggish post-pandemic recovery, disappointing en primeur (new vintage) campaigns, and US tariff uncertainty. The market returned to growth in Sept '25, and the indicators suggest a new bull run is underway. Bordeaux, which lost market share for a decade as investors looked for value elsewhere, is firmly back, with prices at 2016 levels.
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Editor
Samuel Mather-Holgate
Managing Director & IFA at Mather and Murray Financial
Fine wine can add flavour to a portfolio, but it should be the seasoning, not the main course. It should be a satellite holding, not the backbone of a portfolio. For most investors, exotic assets like wine should usually make up around 1% to 5%, and only once the core basics are covered. The sensible time horizon is usually over five years. Fine wine is illiquid, storage-sensitive, and not for money you may need in a hurry. Provenance, bonded storage and insurance are essential and can be costly. The rewards are scarcity, global demand and diversification. The risks are fraud, costs, pricing swings and illiquidity, so investors need to be selective and use reputable firms. Beyond Bordeaux and Champagne, I’d also look at Burgundy, Piedmont and Tuscany, but I wouldn’t abandon France.
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Editor
Ross Lacey
Director & Independent Financial Adviser at Fairview Financial Management
We're pretty boring when it comes to investing. Our view is that although certain wines could appreciate in value in the future, you're reliant on someone else buying it at a higher price than you paid for it. What rationale is there for that?

An investment is something that has good rationale for an income and/or higher future price - company shares for example generally produce an income in the form of a dividend, and companies will aim to grow their profits over time, thus increasing the value of the company and its shares. Boring, but it makes sense.

If you want to speculate that wine, cars, watches or whisky may be worth more in the future, we'd recommend allocating only a small portion of your overall cash towards them, and focusing on things that have value to you in other ways ie you like the car, enjoy drinking the wine, like wearing the watch etc.