The fine wine market showed further signs of stabilization and recovery in September, while a notable surge in Latin American buyers indicated a "potentially important" sign of emerging interest from that region, according to UK-based The Wine Investment Fund.

The main indices, the Liv-ex 100 and Liv-ex Investables, finished the month up 0.5 per cent and 0.9 per cent respectively, with the hike in Latin American buyers apparent at a Sotheby’s sale in New York. Meanwhile, the auction season saw buoyant sales across the globe, with strong results “on the whole,” the firm said. Average prices were highest in Hong Kong and lowest in London.

"Prices are currently caught between strong demand and continued institutional supply," the firm said in a statement. "In September buyers had greater weight, including from Asia in advance of last week’s mid-Autumn festival."

Overall, TWIF expects the close balance between demand and supply to continue over the next few months, as demand reorients towards Europe and North America in the run up to Christmas and the New Year.

Andrew della Casa, founder and director of TWIF, pointed to reports suggesting that the assets of the world’s wealthiest individuals are still growing. "So we anticipate continued demand globally for fine wine," he said, adding that the supply-side dynamic remains intact, suggesting that in the medium- and long-term supply will "only fall as the wine is consumed."