After three turbulent years, the fine wine market enters 2026 with a renewed sense of stability. In our first Collectors Corner article of the year, we share our outlook for the months ahead, focusing on four key themes likely to influence collecting decisions in the year to come.

These themes represent a continuation of trends that began to take shape in late 2025, pointing toward gradual market recovery and broadening rather than abrupt change. Four areas stand out in particular:

• market rebound
• expected tariff clarity
• collection diversification

• changing definition of luxury, increasingly centred on unrepeatable experiences

How will these trends affect fine wine? Read on to discover.

At the start of 2026, fine wine prices sit near five-year lows, though current conditions suggest this may not persist indefinitely. For the past four months, the market has edged higher, marking the most sustained period of improvement since the recent downturn.

Crucially, this recovery has not been confined to a single region or category. Bordeaux, Burgundy, Champagne, Italy and California have all participated in the upward movement. This breadth matters. Unlike previous cycles, where strength was often driven by one region in particular (during the last bull run, most notably Burgundy and Champagne), the current improvement appears more evenly distributed, with incremental gains across multiple markets.

While this does not imply a sharp or immediate reversal, it does signal a healthier market environment, one in which buying can take place with greater confidence. If the current trend continues, 2026 is likely to be characterised by steadier participation and a more balanced flow of demand across regions.

Trade policy was one of the most disruptive forces affecting fine wine sentiment in 2025. In March, markets reacted sharply when the Trump administration suggested tariffs of up to 200% on European wines. The scale of the proposal, combined with its abruptness, introduced a level of uncertainty that quickly filtered through buying behaviour.

By the summer, the situation had stabilized. Tariffs were set at 15%, significantly lower than initially suggested and at a level that the market was able to absorb. More recently, those tariffs have been deemed illegal by lower courts and are now under review by the Supreme Court. A ruling is expected later this year.

While the outcome remains unknown, the trajectory of events has already had an impact. The most disruptive factor was not the tariff threat level itself, but the lack of clarity surrounding it. As that uncertainty eased, engagement began to return. Customers who had paused activity re-entered the market, and new interest emerged as conditions became easier to assess.

The forthcoming Supreme Court ruling will be indicative not just for the wine trade, but for broader questions around:

• global trade
• wealth distribution

• economic confidence

These factors matter because fine wine collecting is closely linked to discretionary spending and global liquidity.

As more clarity emerges and cash becomes more available, fine wine buying typically benefits. Coupled with the broader market rebound already underway, this environment supports increased diversity in purchasing patterns, new buyers entering, and a more active market overall.

Over the past few years, collector behaviour has been characterised by concentration. Faced with uncertainty, many collectors focused on mature wines, proven vintages and established regions. Bordeaux and Burgundy dominated buying decisions, a trend reflected clearly in the top auction results of 2025.

This behavior is consistent with historical precedent. In contracting or uncertain markets, collectors tend to prioritise familiarity and reduce experimentation. As conditions improve, that tendency often reverses.

In rising markets, diversification typically follows rebound. Collectors become more comfortable:

• broadening their focus
• revisiting regions that may have been overlooked

• exploring new styles

This does not mean abandoning the classic regions, but rather placing them within a wider, more varied collecting framework.

We expect this pattern to become more pronounced as 2026 progresses. Italy, Champagne, Spain and California are already seeing renewed interest beyond a narrow set of labels. Other regions are increasingly part of collector conversations as buyers look to build more rounded, expressive cellars.

At Westgarth Wines, this shift aligns closely with our Try January focus. This January, our editorial content will suggest alternatives, from New World substitutes for classic styles to wines that introduce a sense of seasonal or experiential contrast. Stay tuned.

As diversification becomes more common, we know that collectors are likely to place greater emphasis on balance across:

• regions
• styles
• maturity levels
• occasions

Alongside the structural shifts in the fine wine market, there is a broader change in how luxury itself is being defined. Across the luxury sector, affluent consumers are placing greater emphasis on experiential value over ownership of material goods. Recent wealth and lifestyle research shows that many high-net-worth individuals are allocating more of their discretionary spend to ephemeral experiences like:

• travel
• fine dining
• events
• unique moments

This is a departure from only acquiring traditional status products such as handbags, watches or cars.

Fine wine sits naturally within this shift. While bottles can be collected and cellared, their inherent value is realised through use – opening, sharing and engaging with others around the table. As experience becomes a more central focus of luxury consumption, collectors are paying closer attention not just to what they own, but how and when they use it.

This evolution is already visible in buying patterns. Increasingly, collectors are opening wines earlier, building verticals meant to be explored over time, and using wine as a focal point for curated experiences with family, friends or clients. These choices reflect a broader trend where the utility and enjoyment of a collection matter as much as its composition.

For collectors, this raises practical considerations: how can a fine wine experience be made more memorable? Potentially through:

• more intentional curation
• visiting wine destinations
• deeper connections with regions and producers

Conversations within the luxury sector suggest that experiential factors – exclusivity, personalization and emotional resonance – are increasingly central to how affluent buyers perceive value.

The fine wine market in 2026 is not going to be without challenges, but it will likely operate within a clearer and more stable framework than it has for some time. Momentum is returning gradually, uncertainty around trade policy is easing, and collector behaviour is beginning to broaden after a prolonged period of caution.

Rather than a sharp turning point, 2026 looks set to extend the direction established in late 2025. A steadier market environment:

• encourages diversification across regions and styles
• places renewed emphasis on how collections are used and enjoyed

As confidence improves and priorities continue to evolve, fine wine’s role as both a cultural and experiential luxury is likely to become more pronounced.

Here is to an extraordinary 2026 in fine wine and beyond!

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

• • Zinfandel: A grape that defines California wine
  • Ruinart Studio: Champagne, French royalty, and fine art wine
  • Five best wine museums to visit in Europe