What is En Primeur?
En Primeur is a French wine trade term for wine which is sold as a "future" i.e. prior to being bottled and for delivery at a future date. En primeur wines are usually offered one or two years after the vintage. In the case of Bordeaux, the campaign occurs in the spring following the harvest, whilst Burgundy is offered two years after. These are the two main regions offering wines prior to bottling, however, there are also en primeur campaigns for the top-flight wines of the Rhône, Tuscany, Piemonte and Port.
T
he wines are then shipped, in the spring or autumn one or two years later, depending on the release policy of the respective regions.
The concept is best applicable to wine from wineries that compete for top ratings year after year, whose product may grow in value as years pass. The advantage of buying wines en primeur is that they will normally be considerably cheaper than they would be once a bottle is released on the market.
Process
In most cases, the wines are still in oak casks when they are sold en primeur (approx 6 months after harvest in Bordeaux). However, in some cases the wines have been bottled but are still stored in the cellars of the producers until considered mature enough for release.
An en primeur wine gives the owner the right to receive the respective bottles of wines once the producer has completed the maturing phase of the wine. The purchase unit is always in unmixed cases, each containing 12 bottles, 24 half bottles or 6 magnums. Wine bought en primeur is often directly placed into custom-free storage holding, 'in bond'.
Known as a delicate method of investment, a purchase may ultimately be deemed a loss, or there may be considerable profit. For example, the 1982 vintage of Château Latour, was sold at £250 a case en primeur, while valued in 2007 at £9,000.
Advantages to the producer
The producer is able to benefit from an improved cash flow system and a guaranteed exclusive and high level sale of the product. This concept has existed in Bordeaux for centuries and was only occasionally used in other areas such as Burgundy, Piedmont, Tuscany, Ribera del Duero, and Rioja. In Italy some work is being done to promote the development of Italian en primeur market.
In the area of Bordeaux, for example, each year at the end of March, the "Union des Grands Crus de Bordeaux" reveals the results of the previous harvest. These verdicts are then the basis for the prices and allocations made to the different professionals as well as the rest of the world.
Advantages to the customer
Today, the en primeur customers pay a price upfront which is the release price and then pay any taxes and duties and shipping costs upon delivery of the wine. The advantage of this system to wine buyers is that even though they have to pay for their wines in advance, they pay the lowest possible price and have guaranteed delivery. It also provides unique access to wine that may otherwise be difficult to buy, in the case of wineries with low quantity production. Buyers of en primeur wines are experts, investors and wine enthusiasts.
Why buy En Primeur?
.....For many wines, and certainly the most sought-after, the en primeur price is usually the best price
.....Secure your allocation of wines with limited production quantities
.....Purchase in the format you desire, magnums for example
.....Provenance - the knowledge that your wine has come from a credible source with a traceable history of its care - of paramount importance in ensuring graceful maturation or if you desire to sell your wine at a future date
Click here to view our En Primeur Terms and Conditions
(Source : http://en.wikipedia.org)