Frequently asked questions:
_____
What is en primeur?
En primeur is the French term used to describe the system of buying unfinished, young wine, essentially as “futures”. The wines are sold while still maturing in barrel, then bottled and shipped once ready.
Which wines are offered en primeur?
Bordeaux is the region that pioneered en primeur and remains the market where it is most significant, however it is also important for Burgundy and the Rhône, while some wines from Italy, California and Australia are now also offered in this way. That said, it remains more common in most wine regions for the new vintage to be released once it is bottled. Within these regions, not every estate will sell wine en primeur. The system is generally limited to the very top wines of a region, and there are estates that choose to offer their wine once bottled instead. In Bordeaux, for example, Ch. Latour now offers wine when it is mature, rather than en primeur.
When are wines released en primeur?
When wines are released en primeur depends upon the region. There are exceptions to every rule, but generally speaking…
For Bordeaux, the Union des Grands Crus de Bordeaux arranges the Primeurs week at the end of April, giving the world’s wine trade a chance to taste the wines of the previous vintage. Each château then releases its wines when it likes, normally between May and the end of June. The timing of a release can be very important and impact whether or not it sells, so is much discussed. As the pricing of Bordeaux wines is only released on the day, wines will often be released first thing in the morning (often around 8am BST) – and we aim to get this information out to you as soon as possible.
For Burgundy, the wines are offered between August/September (largely for the whites) through to March and April, so the wines are further through their maturation – between a year and a year-and-a-half old. Generally, we taste the wines between September and November. Burgundy producers tend to travel around the world doing tastings of the wines in January, with critic reviews released in December and January generally.
For the Rhône, the timings are closer to Burgundy, with wines released from November through to the following March, with the wines around a year to a year-and-a-half old.
When a vintage is declared for Port, the wines are offered en primeur in May. The declaration traditionally happens on St George’s Day (23rd April), a year and a half or so after the harvest, and the wines are offered thereafter.
Beyond these classic French regions, other en primeur releases are more ad hoc and decided by producers. While not en primeur, the new vintage of Brunello di Montalcino is normally offered four years after its harvest, from October through to early the following year. The new vintage from Piedmont is offered between November through to early the following year. For Barolo, the wines are offered three years after their harvest; for Barbaresco, the wines are offered two years after their harvest. In other regions, producers will release wines at their own pace, some holding back vintages for longer or less, depending on their style.
What is included in the en primeur price of a wine?
Wines offered en primeur are almost exclusively in bond, ie exclusive of duty and VAT. The price includes shipping from the producer to our warehouse and insurance of the wine, but does not include onward shipping from our warehouse.
Duty and VAT are payable when the wine is delivered and withdrawn from bonded storage; the rate of these taxes will depend on the location. In the UK, for example, you will have to pay the current duty and VAT rate at the time of delivery, however VAT will be payable on the purchase price (not the wine’s current market value).
How much is duty and VAT?
The cost of duty and VAT will vary according to the wine, current rates and the destination market. You only need to pay duty and VAT when withdrawing the wine from bonded storage, and the rate of these taxes will depend on the market. In the UK, for example, you will have to pay the current duty and VAT rate at the time of delivery, however VAT will be payable on the purchase price (not the wine’s current market value).
If I buy en primeur, when will my wine arrive?
As with release times, delivery varies according to the region and wine.
Generally speaking, the wines are shipped two to three years after the harvest. Whites will likely be shipped sooner, reds later. This is when the wine is shipped to our UK warehouse; you can then leave it in our bonded storage, transfer it in bond to another warehouse or withdraw it for delivery.
What happens when my wine arrives in the UK?
We email you to let you know whenever wine you have ordered arrives in our warehouse. You can then leave the wine stored with us, transfer it in bond to another storage facility or withdraw it for delivery (in which case the duty and VAT will be due, along with any delivery charges). Wines stored with us will be subject to annual storage fees; find out more about our storage here.
Where should I store my wines?
Until you are ready to drink – or sell – your wine, it is best to store it in a bonded warehouse. Bonded warehouses, such as ours (London City Bond), are secure facilities that meet HMRC’s customs warehousing regulations. For wine, these are temperature and humidity controlled, with minimal movement, ensuring your wine matures in optimum conditions. Your wine is also insured at replacement value, giving you added peace of mind.
Bonded storage also guarantees provenance, which is helpful should you later decide to sell your wine. You can withdraw your wine from storage at any time, at which point duty and VAT will be due. Should you store your wine at another bonded warehouse, you can easily arrange transfer of any en primeur purchases when they arrive; similarly, should you have a cellar at home, and know that you plan to drink the wine, then of course you can arrange delivery.
How do I buy wine en primeur?
In short, in exactly the same way as any other wine order with us. You can buy wines en primeur through our website or via your Account Manager. Find all the latest en primeur releases here; if you are looking for something specific, please contact us or let your Account Manager know, and we’ll do our best to help you.
It is worth noting that particularly for Bordeaux en primeur, it is best to place your order as early as possible to secure stock, as some wines may sell out on release. You can also pre-order or sign up to receive release alerts for specific wines (pre-orders receive priority, so this can be helpful).
Some wines are available in such small volumes or with such high demand that they are available only on allocation (this is especially true of top Burgundy and some Right Bank Bordeaux addresses); to find out more or discuss allocations, please contact your Account Manager.
When do I pay for en primeur wine?
En primeur orders are subject to our standard terms of sale, with payment due when the order is placed and invoice raised. Due to the nature of en primeur – with high demand, limited supply and urgency – it is important that payment terms are strictly adhered to.
How easy is it to get what I want en primeur?
Lots of wines are available for anyone to buy, either through our website of via your Account Manager. Of course, the most sought-after wines, those made in very small volumes and/or with very high demand, are often available only on allocation. We receive an allocation from a producer and then in turn offer allocations to our clients. We would love to offer these wines to everyone, but unfortunately there isn’t enough for us to do so; as such, allocations are decided based on past purchases with us, and of wines from the estate in question. Those purchasing across a producer’s entire range (rather than just their top wines) will often be rewarded. The yield of a particular vintage will also impact allocations, with low volumes affecting availability. If you would like to discuss your allocations, please contact your Account Manager.
How do I choose what to buy?
There are many ways to decide what to buy en primeur, and it should ultimately be led by what you like. You may choose to follow specific properties or wines every year, or buy a range of different wines each vintage. (As above, there may be benefits to following a producer every year, if you are looking at wines that are strictly allocated.)
We aim to offer in-depth coverage of the new vintage from Bordeaux and Burgundy, to inform you as best we can, as well as highlighting wines that we feel are stand-outs in the year, along with a round-up of what the critics are saying about a vintage. (Find all our coverage on our Editorial section.)
Critics – such as the Wine Advocate, Vinous, The Wine Independent, James Suckling, Jasper Morris MW and Jane Anson MW – will offer their reviews of wines, offering an additional opinion on the vintage. Taste in wine is subjective and you may find your palate aligns more with a particular critic, in which case it can be best to follow their recommendations rather than purely the wines that score the highest. It is also worth bearing in mind that not all wines will be rated and reviewed prior to their release, but you may want to decide based on a producer and their winemaking style.
We are always happy to offer advice on purchases, so please feel free to contact your Account Manager to discuss en primeur orders.
How does pricing work for en primeur releases?
Ultimately pricing is decided by a producer, and is subject to many factors – the quality of the vintage, the market, availability and demand, as well as the particular cuvée.
For Bordeaux, the timing of a release within the en primeur campaign can impact its price; sometimes early releases can offer great value, or be misjudged and come out too high. There is an additional quirk for the region that occasionally wine will be released in “tranches”. The first tranche was historically used to test the pricing and market, and later tranches would see price increases. This is rarely used today, but you may see a second tranche of availability for some wines, although likely at the same price.
Which wines does FINE+RARE offer en primeur – and why?
We aim to offer as many wines as possible, but this does, of course, vary according to region.
For Bordeaux, we aim to make everything we have access to available on our website.
When it comes to Burgundy, there are many small producers and we don’t work with them all, however we have lots of direct relationships with top producers and access to various estates.
If you are looking for a particular wine or producer en primeur, let us know and we will do our best to find it for you. Of course, some wines are available in tiny quantities and strictly allocated, so we cannot guarantee access to everything.
How are wines tasted en primeur?
Wines tasted en primeur are tasted from barrel in their unfinished format.
In Burgundy, as the wines are made with a single grape variety and often come from a single vineyard, they are effectively the final blends, however it is possible that we taste from a new oak barrel, or an older oak barrel, when the blend will have a balance of both; or a specific parcel within a vineyard. Some properties will put together an approximate final blend for trade and critics to taste.
In Bordeaux, different châteaux blend at different times. Some blend their wines early, so by the time we taste en primeur, the wine in barrel is the final blend. For others, they blend later, prior to bottling; for these estates, an approximate blend is presented to trade and critics.
Given the youth of tasting samples, sometimes the wines aren’t showing well, perhaps having just been racked (as is particularly the case in Burgundy), and we will always note this where we feel it is the case, and they aren’t entirely reflective of their quality, retasting when we can.
The wines are unfinished and therefore we are tasting for quality and potential, based on our years of experience tasting en primeur and mature wines.
Why should I buy en primeur?
Inevitably, wines become rarer with time. Only a finite amount of any wine is produced in a given vintage, and as bottles are uncorked, the supply of that wine dwindles. As wines enter their drinking window, demand may increase, as may their value.
Buying en primeur is a way to secure stock of a particular wine, especially those from the most sought-after producers, which can be near-impossible to obtain after their initial release.
By securing wine on release, the provenance of a wine is impeccable. Provided the wine is subsequently stored in a bonded warehouse, the wine will mature in optimum conditions (only moving from the château or domaine, to your chosen storage facility, then onto its final destination for consumption). If you decide to sell any of your wine, it will also have retained maximum value via this traceable provenance.
Buying en primeur also allows you to buy any format you desire, whether half-bottles or jeroboams, as the wines are not yet bottled.
Read more about whether or not to buy en primeur here.
What are the risks of buying en primeur?
As we have mentioned, there is no guarantee of financial return when buying wine en primeur; it is always possible that the value of a wine decreases. As such, we always advise only buying wines you like and want to drink – meaning you’ll never be disappointed to have them in your cellar.
It is essential to work with a reputable merchant buying en primeur, as you are paying upfront for wine that will only be delivered approximately two years later, depending on the wine.
The wines are sourced direct from producers or via trusted suppliers, reducing possible provenance risks, and every wine entering our warehouse is authenticated by our team to reduce this risk further. Once stored in our warehouse, wines are insured at replacement value.
Given the nature of tasting en primeur, you could argue there is an element of the unknown, given the wine is unfinished. While samples can be fragile in their youthful stage, the wine is fermented and only minor tweaks can be made thereafter (adjustments to the blend and maturation time/vessels), and the chance of it changing considerably is very low. Looking at multiple reviews of wines, or finding critics/merchants that you trust to follow, can be helpful when deciding what to buy.
Critics will often give “banded” scores for en primeur samples (eg 96-98 points rather than a single score), and re-score wines in bottle. Looking at past scores, it’s rare for these to change significantly, there is however a chance that a wine receives a higher, or lower, rating when tasted in bottle. This would likely impact re-sell value, but may not impact the pleasure you get from the wine – which is another reason to look at en primeur as a way to secure wine you love, rather than a financial investment.
By the very nature of en primeur, you’ll need to wait for the wines to be finished, shipped, and then reach your desired drinking window, so patience is required, as well as the willingness and ability to store the wines for this amount of time. The anticipation, however, is part of the joy of building a wine collection.
Why should I buy from FINE+RARE?
Since we were founded in 1994, we have been selling fine wine to clients around the world. We have a trusted network of suppliers and direct relationships with many of the world’s leading wine estates, sourcing wine of the very finest provenance, buying and selling wine en primeur for three decades. To add peace of mind, we have an in-house authentication team, led by Allan Frischman, with provenance of key importance. Wine stored in our warehouse is also insured at replacement value.
Find out more about en primeur, including how it works, or browse all wine currently available en primeur