June 2011 was the point at which the fine wine market peaked. Asian demand for fine wine had driven the Liv-ex 100 up 69% in two years, and by the middle of 2011 its level was a record 364.69. At this point, the bubble burst. Over the next two years the index retreated, and despite occasional periods of market optimism the Liv-ex 100 is currently 24.8% below its peak.
Yet as the table below shows, it has not been all doom and gloom since the market fell. Prices for the First Growths and their Second Wines reached an unsustainable premium during the market’s bull run, and subsequently they have seen the greatest losses of the Bordeaux 500's component indices. By comparison the Sauternes 50, Left Bank 200 and Right Bank 50 have fallen relatively little. Meanwhile the Right Bank 100 has belied market conditions: it posted its eleventh consecutive gain in June, and is showing 13.8% growth.