I’ve been putting in for this tag since 2020. Went pronghorn hunting once in a leftover tag season in 2022 and gained a healthy respect for just how hard it is to close the distance on this guys, when it’s so easy to find them. He’s not a monster but excited to get him on the table and try my first pronghorn.
Of course, we are all aware that wine, and alcohol in general, is taking a beating in the marketplace right now. I’m curious, especially from those in the trade, how that generalization applies to the medium- and high-end segments.
Looking at Liv-ex data, there seems to be some softening, especially over a two to five-year window, but as a buyer it does not feel as if much has changed at retail.
Some data I was looking at:
- The Liv-ex Bordeaux 500 is down 2.2% over one year, 13.9% over two years, and 16.1% over five years. First Growths, via the Liv-ex Fine Wine 50, are up 0.9% over one year but still down 12.3% over two years and 18.7% over five years.
- Global Champagne shipments fell to 266 million bottles in 2025, down 2% from 2024 and far below the 326 million bottle post-COVID high in 2022. Yet the Liv-ex Champagne 50 is up 2% over one year, though still down 10.9% over two years.
- The Liv-ex Burgundy 150 is only down 0.5% over one year, but still down 13% over two years. Wine-Searcher’s 2026 most-wanted red Burgundy list shows several trophy wines down materially over 12 months: La Tâche down 7%, DRC RSV down 10.8%, DRC Grands Échézeaux down 12.7%, Armand Rousseau Chambertin down 16.2%, and Rousseau Clos St-Jacques down 16%.
I understand that in the U.S., the three-tier system can mute or delay how wholesale/secondary-market price changes show up at retail. So for retailers, importers, distributors, sommeliers, or others on the front lines: how does demand actually look for these segments right now?
Are medium and high end wines really softening in practice, or is the weakness mostly concentrated in the low end and in the investment/secondary market? Are you seeing actual price reductions, or mostly more discounting, more inventory, slower turns, and quieter buyer interest?