Cult Wines forecasts cautious optimism for 2026

By Oliver Catchpole

Published: 30 January, 2026

Fine wine investment platform Cult Wines has released its Top Wines of 2025 report, which offers a “cautiously optimistic” look forwards to 2026.

It said that despite 2025 being “a subdued year”, its final quarter brought a “decisive shift” to the market.

Over the end of the year, bids returned to the market – led by globally recognised wines – bolstered by US interest rate cuts, Bank of England policy easing and improving consumer sentiment, with collectors and investors re-engaged.

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By the beginning of 2026, confidence was rebuilding, with trading activity returning ahead of prices, which Cult Wines said was “a healthy sign for long-term stability”.

Commenting on the findings, Joe Alim, MD (Asia) for Cult Wines said: “What makes late 2025 particularly significant is participation. Transaction activity picked up meaningfully toward year-end, even as prices remained disciplined. That combination, rising volumes without price distortion, is a classic early signal of a new market cycle forming as we move into 2026.”

The investment platform added that this optimism for 2026 is dependent on sustained momentum in Q1, renewed interest from Asian buyers and a credible En Primeur campaign.

However, it said that with stabilising macroeconomic conditions and prices that are still 25% lower than at their peak in 2022, the risk-reward profile for fine wine is currently stronger than it has been for the past three years.

To explain this, the report noted that by early last year, one of the longest downturns in modern fine wine history had brought core regional prices down as much as 30% from 2022.

However, during 2025, average prices fell by only 5.6% – down from a 14% drop in 2023 and 9% in 2024 – which signalled that the worst of the market correction was over.

Most importantly, the report explained that 2025 was defined by participant behaviour rather than price movements. Speculation was largely absent from the market, with trading sustained by consumer demand and the on-trade, meaning buyers favoured ready-to-drink and mature wines.

Although US tariffs, currency volatility and a muted En Primeur campaign kept confidence subdued throughout Q2 and Q3, the final quarter of the year saw a huge increase in confidence, leading Cult Wines to make its carefully positive forecast for the year.

The wines that most benefited from this shift at year end – Salon (up 17%), Solaia (up 24%) and Clos des Lambrays (up 24%) – showed how high-quality, mature wines continue to be rewarded by the market.

Meanwhile, liquidity remained concentrated in Champagne, led by Dom Pérignon 2008 with 193 trades, while select wines like Chapoutier Ermitage Le Pavillon 2008 surged 47.3%, once again highlighting the premium for provenance and maturity.

Tom Gearing, co-founder and CEO of Cult Wines, concluded: “2025 was defined by discipline rather than retreat. Buyers remained active but far more selective, prioritising liquidity, provenance and relative value over speculation.

“What’s striking in the data is that confidence returned through rising transaction volumes, not price inflation, which has been critical in stabilising the market and rebuilding trust.”

The full report is avaliable here.

Picture credit: SHARMANT on Pixabay

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