Prestige Champagne prices have generally fallen back since late 2022, eroding some – but not all – of the meteoric gains accrued during a boom period for the fine wine secondary market prior to that, according to the Market Watch section of Decanter magazine’s March 2025 issue.
Market Watch, which is also published on Decanter Premium, is sponsored by international merchant Bordeaux Index and its LiveTrade online trading platform.
After a rollercoaster few years for top-tier Champagnes like Krug, Cristal and Dom Pérignon on the secondary market, the current climate remains relatively subdued. Yet, there is also expectation that prices could rise again in the medium-to-long-term.
Giving its view of the situation, Bordeaux Index commented, ‘The Champagne market was characterised across the second half of 2023, and 2024, by steadily falling prices, following a preceding 18-24 month period in which every prestige Champagne saw a very significant change in price, almost doubling in many cases.
‘We are left with a situation where there is almost no Champagne that is cheaper now than in 2020 but, equally, pricing sentiment is finely balanced.’
Champagne was a top performer in the previous market boom, fuelled by higher discretionary spending and growing global interest in fine wine. ‘Ultimately we anticipate there being much future upside potential for top wines across grande marques and grower Champagnes over the medium-term,’ said Bordeaux Index.
Regarding newer releases, it added, ‘Recent release prices have not been helpful in ensuring maintenance of demand in this trickier market environment, but this may rebalance itself over the coming 12-18 months.’
This month’s Market Watch features exclusive Bordeaux Index data and offers a snapshot of which Champagnes may show the first signs of any recovery.
Miles Davis, market expert at merchant Vinum Fine Wines, also noted that Champagne has developed a more solid secondary market in the past 10 years.
Conditions remain challenging at present. Liv-ex said this week that all of its major indices dropped in value in February, with the Champagne 50 index down 1.4%, even if a recent survey suggested fine wine prices may be ‘close to bottoming out’.
The March 2025 Market Watch section also spotlights recent developments, as well as forthcoming events and releases – including the upcoming releases of leading SuperTuscans Ornellaia and Tignanello 2022, plus news that Pol Roger plans to launch its Cuvée Sir Winston Churchill 2018 later this year.
Decanter Premium subscribers can now also read an in-depth report on the March 2025 releases on La Place de Bordeaux, including 100-point Château Latour 2016.
