(CNBC) - Fine wine is now the best-performing collectible of the world's wealthy collectors, with values soaring 25 percent over the past 12 months, according to a new report.

The Knight Frank Luxury Investment Index, which tracks the price growth in the major categories of collectibles, found that wine has replaced classic cars as the top collectible. Thanks to strength in Bordeaux, Burgundy and northern Italian wines, collectible wine prices surged 25 percent over the past year and are up 61 percent over the past five years.