Fine wines were not immune to the global economic downturn in the second half of 2011 and prices of the finest Cru slumped by about 15 per cent last year, according to the Live-ex indices.

The Live-ex Fine Wine 100 and Fine Wine 50 indices declined 14.9 per cent and 16.6 per cent respectively. Bordeaux wines make up the lion’s share of the indices but labels from Burgundy, the Rhone, Champagne and Italy are also included.

Live-ex said in a statement that prices for top Bordeaux rose rapidly in the first half of the year, but peaked in June and began to fall the following month. The online marketplace described how traders broadened their focus in 2011, resulting in many lower-priced labels outperforming the falling market. Live-ex named so-called "super seconds" such as Leoville Las Cases, Cos d'Estournel and Romanee Conti.

Although losing some of its sparkle in 2011, wine investment has generally proved rewarding in recent years, with a surge of interest in both direct investment and wine funds, and demand soaring in Asia. In the past five years, the Live-ex 100 has risen by 66 per cent and the Live-ex 50 has shot up by 104 per cent. Thus, as with the case of gold, last year's price correction might tempt many investors to jump back in.