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Which wines have the best ROI? A 10-year fine wine performance review

Sassicaia Super Tuscan
  • Bordeaux anchors portfolios with liquidity and stability, while Burgundy and niche producers often deliver the highest upside.
  • Scarcity drives returns: from cult Burgundy to grower Champagne, the biggest gains come where supply is tight and demand is global.
  • After a three-year correction, fine wine prices are on the rise, signaling a prime entry point.

Over the past two decades, fine wine performance has been far from uniform, with returns driven by a distinct mix of liquidity, scarcity, and shifting global demand. The wines that have delivered the best ROI have done so for very different reasons, making a market breakdown essential to understanding where true value lies, and how each region behaves as an investment.

Bordeaux: The “S&P 500” of fine wine 

Bordeaux remains the cornerstone of the secondary wine market due to its high production volumes and global recognition. It provides a level of liquidity that acts as a defensive anchor, weathering the 2022-2025 correction better than most speculative assets.

  • Le Pin

Located in Pomerol, this tiny estate is the absolute leader for the region. Growth from the 2013 bottom to the 2023 peak was over 130%, maintaining its value even during the recent “gut punch” of 2025.

  • Carruades de Lafite

The second wine of Chateau Lafite Rothschild is a high-volume engine. The 2013 vintage, for instance, traded at £950 per case in 2014 and hit over £3,000 in 2022, marking a 215% return. 

  • Calon Segur

A historic Saint Estephe “hidden gem,” prices rose 120% in the ten years up to the 2023 peak and were more  stable than many higher profile peers during the correction from 2023-2025.

Burgundy: Behind the stellar growth

The best historical performance can be found in Burgundy, where rarity meets intense global demand. However, investors must be wary of ghost wines that show huge growth on paper but offer very little real world liquidity.

  • Domaine d’Auvenay

A personal estate of Lalou Bize-Leroy, also the owner of Domaine Leroy and part owner of Domane Romanee Conti, D’Auvenay produces wines of extraordinary intensity and rarity. “Aligote Sous Chatelet” is regarded as the best money can buy. At £30,000 a case, it is a significant asset. While liquidity is limited by small production levels, the price is backed by trades and auctions. It has shown a stunning 11,000% growth over its history. Auction prices for the 2009 vintage rose from £6,000 a case in 2019 to £35,000 in 2023.

  • Domaine Bizot and Arnoux-Lachaux Jean-Yves Bizot

Both domaines produce tiny quantities of wine in Vosne-Romanee using natural winemaking techniques. They saw values soar in the late 2010s and early 2020s. For instance, Bizot Echezeaux 2010 rose from £4,000 in 2016 to £115,000 in 2022; however, few of these extreme values are backed by trades in the open market.

  • Domaine de la Romanee-Conti (DRC)

Commonly known as DRC, Domaine de la Romanee-Conti is the most famous estate in Burgundy and the region’s benchmark for tradable and secure investment. Duvault Blochet is among their most affordable wines and their best performer. While 500% growth in ten years is modest compared to Bizot, DRC remains the most liquid and secure option for Burgundy investors.

The Champagne market: Grandes Marques and grower producers

The Champagne market shows a clear split between the Grandes Marques and grower producers. Large houses offer higher liquidity while grower Champagnes see lower trade volumes but often achieve bigger returns. 

  • Louis Roederer Cristal

Cristal is the flagship wine of the family owned house Louis Roederer. It was the best performer among the large producers in the decade leading to the 2022 market peak. Prices for Cristal increased 160% between 2016 and 2022.

  • Krug Clos du Mesnil

This rare Blanc de Blancs is an example of the single vineyard wines that have become more common in the region over recent years. Clos du Mesnil leads the way in both prominence and performance, with prices up 215% from 2016 to the market top in 2022.

  • Egly-Ouriet

The leader of the artisanal grower surge. Based in Ambonnay, this estate has seen values climb 500% over the last decade as collectors pivot toward terroir-driven grower Champagne. 

Tuscany: Super Tuscans and Brunello 

Tuscany provides a balance of high quality and relative value compared to French regions. The “Super Tuscan” category remains the primary driver of investment both among Italian wines, and within Tuscany.

  • Sassicaia and Tignanello

Tignanello is produced by the historic Antinori family, while Sassicaia is the original Super Tuscan from Tenuta San Guido: these two labels lead the way for Italian wine liquidity. Both have proven to be excellent long-term investments and both have shown steady gains over 10 and 15 year periods. Tignanello has the slight edge, up 160% in the last decade.

  • Il Marroneto Madonna delle Grazie

This Brunello di Montalcino is a more niche selection compared to the coastal Super Tuscans. Older vintages of this wine have risen upwards of 500% over the last decade.

  • Soldera Casse Basse

The late Gianfranco Soldera created a cult following for his uncompromising approach to Sangiovese. This is one of the most expensive wines in Tuscany and has benefited from excellent growth, around 300% over the last decade. It remains just below the price of the 100% Merlot icon Masseto.

Piedmont: The “Burgundy of Italy”

Piedmont offers high growth but generally lower liquidity than Tuscany, mirroring the relationship between single-vineyard single-grape variety focus of Burgundy and the larger production volumes in Bordeaux.

  • Comm G.B. Burlotto

The Burlotto family has made wine in Verduno for generations, but their Monvigliero has become a superstar. The wines of Burlotto are a highlight for the region. They have shown growth in the high hundreds of percentage points.

  • Cappellano and Giovanni Canonica

These producers represent a traditional approach to Barolo that has found favour with modern collectors. Both have shown approximately 500% growth over the last decade. These names reflect the rising interest in terroir-driven, traditional Piedmont wine.

  • Gaja

Angelo Gaja is the man credited with bringing Piedmont to the world stage through modernisation and high production levels compared to its regional peers. For investors and collectors, Gaja Barbaresco is a favourite. The wine has risen 100% in ten years, remaining solid since the 2022 market peak. Meanwhile, Gaja’s flagship white, Gaia and Rey, has seen nearly 400% growth over the last two decades.

USA: Cult wines and beyond

Cult wines often dominate the conversation in the United States. However, more mainstream brands have achieved equally impressive returns recently.

  • Ridge Monte Bello

Ridge Vineyards is famous for its non-interventionist winemaking and focus on high altitude sites. They have a large selection of accessible wines, but Monte Bello is their flagship investment-grade label. Prices for Monte Bello are up 140% over the last 15 years.

  • Opus One

Opus One was founded as a joint venture between Robert Mondavi and Baron Philippe de Rothschild. The estate focuses on producing large volumes of a single Grand Vin. This narrow focus has seen values double over the last decade.

  • Screaming Eagle and Realm “The Absurd”

Screaming Eagle is the quintessential Napa Valley cult wine, produced in extremely small quantities. Lesser vintages, in particular, have proven to be strong performers: the 1998 saw 300% growth in the decade to 2021, while the 2011 vintage rose 240% between 2014 and 2021.

Realm Cellars produces “The Absurd” as a blend of their best barrels. It saw prices rise 300% in the decade to 2022.

High performers from other regions

Excellent growth is available outside the most mainstream regions. While liquidity tends to be more limited, these wines are standouts in their respective countries.

  • Valentini Trebbiano d’Abruzzo

Valentini is a reclusive producer in Abruzzo known for creating whites with immense ageing potential. This white is the most searched for Italian fine wine outside of Piedmont and Tuscany and its index has risen 320% in the last decade.

  • Chateau des Tours 

This estate is under the same ownership as Chateau Rayas in Chateauneuf du Pape, but its wines are available at a much lower price. Their flagship, Vacqueyras, is roughly 10% of the price of Rayas, and while it does not achieve the same scores, values have risen 600% in a decade.

  • Vega Sicilia Valbuena 5°

Vega Sicilia in the Ribera del Duero is perhaps the most prestigious estate in Spain and the best known to investors. Valbuena 5° is the younger sibling to the famous Unico, but its performance has consistently bettered its more costly sibling. It is up 47% over five years, 146% over ten years, and 215% over fifteen years.

  • Sadie Family Columella

Eben Sadie is the leading figure in the new wave of South African winemaking. Their flagship, Columella, is up 140% in a decade. This eclipses other famous South African names like Klein Constantia Vin de Constance, up 60% in the same period.

  • South America: Almaviva and Don Melchor

Almaviva is a joint venture between Baron Philippe de Rothschild and Concha y Toro in Chile. Both Almaviva and Don Melchor lead the way in South American investment performance. They have shown growth of around 200% in the last 15 years and 100% in the last decade.

FAQs: Which wines have the best ROI?

Which wine brand has the highest historical growth? 

The highest percentage growth recorded in our analysis is Domaine d’Auvenay Aligote Sous Chatelet, which has seen stunning 11,000% gains over the last 20 years.

Is it better to invest in Bordeaux or Burgundy? 

Bordeaux generally offers better liquidity and larger production volumes, making it easier to buy and sell. Burgundy has shown higher growth but can be more difficult to trade due to limited supply.

What is a ghost wine in the context of investment? 

A ghost wine refers to a label that shows high price appreciation on paper but has very little actual trading volume or physical liquidity in the open market.

How has the US cult wine market performed recently? 

While cult wines like Screaming Eagle have seen significant historical gains, more mainstream brands like Opus One have proven to be more reliable performers in recent years.

Are there profitable wine investments outside of France and Italy? 

Yes, regions like Spain (Vega Sicilia), South Africa (Sadie Family), and Chile (Almaviva) have all produced wines with triple digit percentage growth over the last decade.

WineCap’s independent market analysis showcases the value of portfolio diversification and the stability offered by investing in wine. Speak to one of our wine investment experts and start building your portfolio. Schedule your free consultation today.

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Why fine wine is attracting more wine investors worldwide

DRC fine wine bottle

There is no question that global interest in fine wine has grown significantly in recent years. What was once seen primarily as a luxury collectible is now increasingly recognised as a serious alternative investment, attracting wine investors from around the world.

As traditional markets become more volatile and complex, many investors are looking beyond equities and bonds in search of assets that offer stability, diversification, and long-term value. Fine wine has emerged as a compelling solution, combining tangible ownership with historically resilient performance.

In this article, we explore why fine wine appeals to investors, how it differs from traditional investment methods, and how newcomers can begin building a wine investment portfolio with confidence.

Fine wine as an alternative investment

An alternative investment refers to any asset that sits outside traditional financial instruments such as stocks, bonds, or cash. Other examples include art, property, collectibles, and private equity.

Fine wine fits squarely into this category, offering investors a way to diversify their capital while reducing overall portfolio risk. Because alternative assets behave differently from mainstream financial markets, they can help smooth performance during periods of economic uncertainty.

Indeed, diversification is one of fine wine’s greatest strengths. Allocating capital across multiple asset classes – including wine – can protect long-term wealth while enhancing stability.

Low correlation with traditional markets

One of the most attractive qualities of fine wine investment is its low correlation with the stock market.

Unlike equities, quarterly earnings, interest rate decisions, or political headlines rarely move fine wine prices fast. Instead, the wine market predominantly operates on a simple supply-and-demand model:

  • Investment-grade producers release limited quantities each year

  • Bottles gradually disappear with consumption

  • Demand for top wines often increases as supply declines

This dynamic has historically supported steady price appreciation over the long term, making fine wine particularly appealing to investors seeking predictable growth rather than short-term speculation.

A tangible asset with real ownership

Fine wine is a tangible asset, meaning it is a physical product that investors can own outright.

This is a major psychological and practical advantage. Unlike shares or digital assets, fine wine exists independently of financial systems. You retain direct ownership and, in theory, can choose to enjoy the asset rather than sell it.

From a security perspective, tangible assets also offer peace of mind. Ownership is not tied to corporate performance, debt exposure, or counterparty risk – factors that often affect traditional investments.

Low volatility and stable price growth

Volatility measures how dramatically prices rise and fall over time. Stock markets are inherently volatile, with prices capable of shifting rapidly due to sentiment, news, or speculation.

Fine wine, by contrast, has historically demonstrated low volatility. Prices tend to move gradually, supported by scarcity, brand reputation, and long-established demand.

This stability is one of the key reasons why fine wine is a low-risk investment within the broader alternative investment space, particularly when part of a diversified portfolio.

Why fine wine appeals to long-term wine investors

Fine wine is not designed for short-term trading. Instead, it rewards patience.

Most investors adopt a long-term approach, allowing bottles to mature while market demand increases. Over time, this combination of ageing, scarcity, and reputation can lead to strong capital appreciation.

In many regions, fine wine may also offer tax advantages. For example, in the UK, wine is often considered a wasting asset, meaning it can be exempt from capital gains tax – though investors should always seek independent tax advice.

Storage, provenance, and professional management

Proper storage is essential to protecting the value of investment-grade wine.

Professional wine investors typically store their holdings in government-bonded storage facilities, which keep the wines under optimal temperature and humidity conditions. Bonded storage also preserves provenance, which is critical when it comes time to sell your wine.

Working with an established wine merchant or investment specialist ensures that wines are sourced correctly, stored securely, and insured appropriately – all essential components of successful wine investment.

How wine investors realise profits

Wine investors typically generate returns by selling their wines on the secondary market once demand has increased and supply has diminished.

Sales may take place through:

  • Private transactions

  • Specialist wine merchants

  • Trading platforms or auctions

The timing of a sale is strategic, often aligned with market cycles, critical acclaim, or increased global demand. Professional guidance can help investors decide when to hold and when to sell.

How to start as a wine investor

One of the most appealing aspects of fine wine investment is its accessibility. You do not need to be a financial expert or wine professional to start investing in wine.

For newcomers, working with an independent investment specialist can provide clarity, structure, and confidence. Expert guidance helps identify suitable regions, producers, and price points while avoiding common pitfalls.

At WineCap, we offer independent, data-driven advice tailored to long-term wine investors. Our team supports clients across sourcing, portfolio construction, bonded storage, and exit strategy, ensuring a transparent and professional investment journey.

Final thoughts: is fine wine a good investment?

Fine wine represents a rare combination of stability, diversification, and enjoyment. Its tangible nature, low volatility, and long-term growth potential make it an increasingly popular choice within the global investment landscape.

As with any asset, success depends on informed decision-making, proper storage, and a disciplined, long-term strategy. With the right approach, fine wine can play a valuable role in building and preserving wealth.

Learn more about fine wine investment and speak to one of our experts today. Schedule your free consultation with WineCap.

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Fine Wine Investment for Beginners

Open road with vineyard beside it

Fine wine investment is increasingly gaining popularity amongst beginners and novices looking to reap the benefits of this alternative asset. Not only is it a proven way to diversify and strengthen an investment portfolio, but also an enjoyable pastime for wine enthusiasts and budding connoisseurs.

Surging prices regularly push fine wine investment into the spotlight, and headlines are filled with stories of investors who bought wine at low prices, then sold it years later for thousands. But how and where do you get started as a beginner? And what are the wine investment returns that you can expect?

The following guide provides an overview of the fine wine investment market and how it works in practice.

How big is the wine investment market?

Investing in wine is no new phenomenon. In fact, it has existed in different forms since antiquity, as wine was circulated and traded throughout the ancient world by Greeks, Egyptians, Phoenicians, and Romans. The writings of Thomas Jefferson provide one of the first pieces of evidence of a premium charged for an older wine. In 1787, he wrote that the 1786 vintage for top Bordeaux wines cost 1800 livres per tonneau compared to 2000 livres for the older 1783. Through the centuries, shrewd wine lovers have been selling part of their collections as a way of subsidising their consumption, leveraging the gains of a uniquely rarifying asset against their own cellars.

Today, the market is transparent and open for beginners as well as experienced investors looking to embark on their wine journey. Investing in fine wine is easier than ever, thanks to specialised wine investment companies, relying on current market data and the latest technology.

The global wine market is forecast to reach US$525 billion by 2025. But while fine wine has emerged as a popular alternative investment, not every wine is investment worthy. For example, the majority of wines produced in renowned regions, such as Burgundy and Bordeaux – perhaps surprisingly – often won’t appreciate in value. In fact, of all the wines made worldwide, only a very small percentage have the potential to improve as they age, and an even smaller percentage of that group has the capacity to see its price rise.

Precisely this scarcity of investible wines is one of the main drivers behind wine investment’s profitability. The limited supply of collectible wine leads to price increases, especially for labels in high demand. This is why it is important to keep abreast of the latest market trends and factors influencing global appetite.

More fine wine investment opportunities than ever before

Historically, Bordeaux’s classified growths have been the leading force on the fine wine investment market. In 2010, Bordeaux took 96% of all trade on the global marketplace for wine. Today, it accounts for less than a third of this market by value.

The main reason behind its declining trade share is that the fine wine investment market is bigger and broader than ever before. Other French regions like Burgundy, Champagne and the Rhône, USA, Italy (led by Tuscany and Piedmont), Germany, Spain and Australia are increasingly seen as reliable sources of considerable wine investment returns.

Investing in fine wine is thus not limited to a small group of wines, contrary to what one might expect. There are more opportunities than ever before that can be suited to your stylistic preferences and budget. The collectors’ market is booming, with record number of investible wines trading right now.

Greater fine wine investment returns

As global demand for fine wine has grown, the investment returns have increased too. Burgundy is a prime example. Thanks to its iconic status and its tiny production levels, early investors in the sector have seen eye-watering growth: upwards of 2000% in 15 years for some wines. The volume, value and breadth of trading has increased significantly, and wine prices have risen dramatically over the last decade; the region’s major index is up almost 200% in the past ten years.

Meanwhile, investors in Champagne have benefitted from supremely consistent returns, although it is not the most expensive or the rarest of fine wines. Its brand strength and distribution network, however, remain unparalleled.

Prices for different regions and wines have risen at a different pace. Region and wine-specific factors thus play a role in the returns that an investor can expect, the cost and length of the investment.

How long do I need to invest in fine wines for?

Fine wine is considered a medium to long-term investment. As a general rule, we advise our clients to hold their wines for three years at the very least.

Many collectible wines have long ageing windows, between ten and 50 years. As the scarcity and quality of fine wine appreciates over time, so does its value. The premise of fine wine investment is to buy wine when it’s young, then sell it once it’s older and more valuable. There are other external factors that may help determine how quickly a wine may deliver the desired returns such as critic scores, supply/demand and significant events related to the region or the producer.

For instance, the price of the Super Tuscan Sassicaia 2015 went up 25% in the day when the American publication Wine Spectator announced its ‘Wine of the Year 2018’. Those buying and re-selling the wine on the day would have made a small profit; however, those holding the wine since release would have seen its value rise over 160% to the present day.

As a long-term low-risk investment, fine wine doesn’t lose its value overnight. Where share prices may increase one day and decrease the next, fine wine provides stable returns year after year. Its low volatility has led many to consider it the best ‘safe-haven’ asset – a great advantage particularly in times of market turmoil.

Unlike mainstream assets, fine wine is fairly insensitive to macro-economic events. When global markets tumbled due to ongoing Covid-19 restrictions and upon Russia’s invasion of Ukraine, fine wine remained resilient. The returns of leading fine wine indices were greater than the FTSE100, S&P500 and even other safe investments such as gold.

How do I start investing in wine?

There are a lot of decisions you need to make when taking on wine investment. Wine investment experts like our team here at WineCap can help you make decisions relating to the following factors:

Set a wine investment strategy

The first step is to set your budget. Consider how long you would like to hold your wines for and your preferred investment strategy. Fine wines command a range of prices depending on the producer, how much of their wine is made and the wines’ age. Make sure to set your budget before embarking on building your portfolio so you can ensure you have exposure to all countries and regions.

Speak to a wine investment expert

There are different routes to accessing the wine investment market, such as through specialised retailers and auction houses. Expert wine investment brokers offer unbiased advice on strategic investment opportunities and can help you build your portfolio, based on your preferred length of investment and budget. While WineCap doesn’t charge any annual fees, most wine investment companies do, so be sure to do your research and be aware of any fees your portfolio might incur.

Select world-class wines for your portfolio

A wine investment expert will help you find the wines best suited for your investment portfolio. WineCap has formed long-lasting relationships over the past decade with négociants, wholesalers and private collectors. This means that we have access to some of the world’s most prized wines. What’s more, our unique proprietary technology analyses over 400,000 wine prices a day to identify the right, undervalued wines to buy and sell across the global market at the right time and price.

Store your wines professionally

Choose to keep your wines in government bonded warehouses as this will ensure they are professionally stored in temperature-controlled conditions best-suited for ageing wines. World-class care ensures that when you come to sell, your wines’ provenance will quickly secure maximum prices.

Fine wine investment can be daunting if you are a beginner, but with a little practice and help you can soon enjoy the benefits of the best-performing luxury asset.

Ready to get started now you know more about how to invest in wine? Speak to one of WineCap’s investment experts to discover the next steps on your wine journey.