Winebuzz

Guide to Buying Bordeaux Wine En Primeur

Part 1: Guide to Buying wine en primeur.

En Primeur’s video – Part 1 from Millesima SA on Vimeo.

With the soaring demand in Hong Kong and China for first growth Bordeaux as seen in the record breaking prices achieved at every wine auction held in Hong Kong, wine merchants are predicting that the market is ready for en primeur wine.

What does buying en primeur wine mean?
It is a system of buying wine early while they are still in the barrels before the vintage has been bottled. Bordeaux wineries has traditionally maintained this system of trading wine since the 16th century. Producers offer up a portion of annual production for early sale usually 12- 18 months before they are bottled and release to the market at a discounted price. This process guarantees producers’ financing and allows them to invest in future harvests while the wine ages in the barrel.

En primeurs’ video – Part 2 from Millesima SA on Vimeo.

When does the buying take place?
Every Spring, the economy of Bordeaux wines is determined at the opening of the en primeur campaign in Gironde, Bordeaux. All those who have a stake in the Bordeaux wine trade including buyers, importers, sommeliers, wine critics and wine journalists make a pilgrimage to Bordeaux to taste the previous year’s vintage from the Châteaux of Bordeaux (over 400 estates participates). The release of the wines on the market only happens after the tasting sessions is done and then prices are determined based on the quality of the wine.

How are Bordeaux en primeur wine traded?
The trading of Bordeaux wine is only conducted exclusively with local wine merchants with license know as ‘the courtier de place’ obtained from Bordeaux. In total there are only 130 license holders who are able to buy Bordeaux wine en primeur. Wine merchant without license are not allowed to directly buy and sell these wines. If you are thinking that this is quite a protected market, you are right! Within this system, the wine brokers are only able to purchase based on their ‘allocations’ which correspond to the cases assigned by the Chateaux to each broker, making it quite difficult for mere mortals to buy Bordeaux en primeur without the right connection and even then with many layers of intermediaries involved, it will be difficult to buy at a good price.

En Primeur’s video by Millésima: the actors from “Place de Bordeaux”/ Part 3 from Millesima SA on Vimeo.

Part 2 of “The Guide to Buying Bordeaux Wine En Primeur” will be out tomorrow. “The Guide to Buying Bordeaux Wine En Primeur Series” is sponsored by Millesima.