En primeur wines: what are they?
Purchasing wines in new products is growing considerably in the French wine landscape. Thus, the purchase of wines en primeur essentially refers to the process of purchasing wine while it is still in barrel, with bottling and physical delivery 2 or 3 years after the release of the vintage. If wines can be purchased in different formats, what else should we know about this old market? \n\r\n
The modern origins of en primeur wines
\nThe system of purchasing primeur wines dates back thousands of years. There is evidence that the practice dates back even to the third century BC. However, the current En Primeur system is much younger. And although post-harvest spring transactions have occurred throughout history, they are largely an exception to the rule. \n\nThus, the modern trade in en primeur wines was initiated by the dominant Bordeaux merchants around 60 years ago. After World War II, many castles were poorly managed and poorly financed. The merchants who were at the time much more powerful and dynamic agreed to purchase wines from the best producers in advance. This provided much-needed cash relief to struggling castles and allowed merchants to set their own prices. \n\r\nHow does the En primeur take place?
\nThe process begins with En Primeur tastings in early spring, well before the wines are ready to drink. These barrel tastings are evaluated and rated by wine experts. Thus, one can purchase En Primeur selections before they are bottled and put on the market while they are still in Bordeaux. \n\nIn addition, Chateaux offer a portion of their production at a lower price than the final bottled product. This wine is marketed in several tranches, generally at higher prices in line with market demand. Similarly, wines are generally bottled 18 to 24 months after release, depending on the estate and the length of aging in oak barrels. Finally, all En Primeur purchases are tax and duty free. If you choose to have the wines delivered within the EU area, these taxes become due. \n\n\nAdvantages of buying En Primeur wines
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- Affordable prices : En Primeur generally offers collectors the opportunity to get involved at the lowest offer price on the market. \r\n
- Embryonic wines : At release, the wines are at their youngest age, with a period of maximum maturity and potential for growth in value. \r\n
- Security of Provenance : When purchasing EP wines, collectors have the added benefit of having the wines delivered via the most direct route to the Château, ensuring absolute provenance. \r\n
- Secondary Market Buying Trend : Traditionally, the secondary market buying trend has been towards physical stocks. This allows collectors to enjoy the benefits, with stocks that are easily liquidated after physical delivery. \r\n
