As we enter the last month of 2024, we reflect on a year shaped by market fluctuations, shifting trends, and renewed focus on timeless classics. Here's a look back at the key moments and opportunities in the 2024 fine wine market.

2024 proved to be another challenging year for Bordeaux Futures, or En Primeur. High release prices left collectors questioning the value of buying new vintages. While traditionally seen as an avenue to secure sought-after wines at competitive prices, many of the Bordeaux 2023 wines released this year failed to generate excitement.

Flat release prices on the previous year meant that the campaign struggled to attract new interest, as collectors continued to prefer older, proven vintages that are ready to drink and often available for less. For those looking to add wines to their cellar, the advice remains clear: focus on past vintages with an established reputation for quality and market performance.

The fine wine market experienced a downturn in 2024, creating opportunities for savvy collectors. Declining prices made room for rare stock to re-enter the market, as sellers sought liquidity. This presented a golden opportunity to acquire high-value wines at more attractive prices, especially for those willing to keep them.

This downturn also signaled a chance to refine and fortify cellars with iconic wines. As prices softened, wines once considered out of reach for many collectors became more attainable, reaffirming the importance of timing in buying fine wine.

In times of economic uncertainty, collectors turned to the comfort of the classics. Bordeaux’s most prized vintages – 2000, 2005, 2009 and 2010 – and wines like the First Growths and Mission Haut-Brion, Cheval Blanc, Angelus, Leoville Las Cases and Pontet-Canet, saw increased demand.

Super Tuscans, too, had their place in the spotlight. Wines like Ornellaia, Sassicaia, and Tignanello offered collectors reliable quality and market stability. With less emphasis on diversification and more on proven regions and vintages, 2024 underscored the enduring value of the greats. These wines also featured in your 2024 favorites – a list that will be revealed in the coming weeks.

The year brought its share of exceptional wines that garnered praise from leading critics.

American critic James Suckling chose Bertani Amarone della Valpolicella Classico 2015 as his wine of the year. Praised for its balance of power and elegance, this wine represents the pinnacle of Veneto winemaking.

The much-anticipated Wine Spectator rankings revealed Viña Don Melchor Cabernet Sauvignon Puente Alto Vineyard 2021 as their wine of the year. They noted the exceptional depth and complexity of this extraordinary vintage for the Chilean icon

Vinous also published their rankings for the first time, putting Philip Togni Vineyard Cabernet Sauvignon Estate 2021 in the spotlight. This is a Napa Valley classic that blends refinement with age-worthy structure.

Beyond quality, the rankings highlighted the global diversity and excellence of fine wine in 2024.

The outcome of the presidential election marked another pivotal moment for the wine market. Donald Trump’s return to the White House strengthened the U.S. dollar, spurring increased demand for fine wine among collectors.

The election also reignited concerns over potential tariffs on European wines. If implemented, however, lower fine wine prices and stronger dollar could partially offset their impact and still boost demand. In all cases, the current market climate favors active buying.

As 2024 draws to a close, it’s clear that the fine wine market remains as dynamic as ever. Whether it’s taking advantage of lower prices, focusing on celebrated vintages, or anticipating the impact of global events, there’s always an opportunity to refine and expand your collection.

In a world of change, one thing remains constant: the timeless appeal of fine wine.

Want to read more? Take a look at some of our other blogs:

• • Collector’s corner: buying the dip
  • Collector's corner: back to the classics
  • Collector’s corner: why bigger is better