Key considerations:
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Investment
There was a time when many people bought en primeur as a financial investment, or as a way to fund future wine purchases. There are no guarantees of financial return when buying en primeur, so our advice is always to buy only what you can and want to drink. That said, discerning en primeur purchases can – when buying the right wines in the right vintage – offer distinct rewards. If you decide to sell wine you have purchased en primeur, you can do so through us and our network of collectors (find out more about selling wine here).
Whether drinking or selling wine, it’s important that wine is stored properly to preserve provenance, and to factor in any additional costs – from storage to delivery, duty and VAT – when making purchase decisions.
While we can advise on the quality of a vintage and wine, as well as offer information on their past performance, we are a wine merchant, not a regulated financial institution and therefore urge you to seek advice from your accountant or an accredited financial advisor if you have any questions about buying wine en primeur.
Find out more about selling wine through FINE+RARE here
Rarity
It is undeniable that wines become rarer as the years pass. Only a finite amount of a particular wine is produced in a given vintage, and as bottles are uncorked, the supply of that wine dwindles. Other vintages are made, but no two vintages are the same. As wines enter their drinking window, demand may increase, and so may their value, accentuated by their increasing scarcity.
Securing stock
Buying en primeur is a way to secure stock of a specific wine. This can be particularly important when it comes to the most sought-after producers, whose wines can be near-impossible to obtain after their initial release, or may be subject to a stratospheric mark-up on the secondary market.
Large or small formats
Buying en primeur also allows you to buy (almost!) any format you desire, whether half-bottles, jeroboams or imperials, as the wines are not yet bottled. Inevitably, these are generally made in smaller quantities than the standard 75cl bottle, and can therefore be hard to find on the secondary market. Bottling of alternative formats comes with a small premium, included in the price that you pay en primeur: in GBP, this is £10 per case or 12 x 37.5cl half-bottles, £5 per case for 3 x 150cl magnums, £30 per 300cl double-magnum and £40 per 600cl imperial.
Provenance
Securing wine on release allows you to be entirely in control of its provenance. With professional storage, you can ensure that it matures in optimum conditions, with temperature, humidity and movement controlled. This not only preserves the wine’s value should you decide to sell, but means it’s all the more likely to fulfil on its promised potential when you pull the cork. As the most sought-after wines are the most valuable, they are also the most likely to be forged, meaning an allocation on release with perfect provenance is of especial value.
Working with a reputable merchant
As the wine is not physical on purchase, it is particularly important to work with a reputable merchant with a known history of selling and fulfilling en primeur orders. At FINE+RARE, we’ve been buying and selling wine en primeur since we first started in 1994. With this history, we have also been able to build relationships with key producers, suppliers and négociants, allowing us to secure and grow our allocations of key wines – and therefore giving you greater access.
Pricing
In theory, en primeur is designed to offer consumers the best price for a wine. It’s important to state that there is no guarantee that this will be case, and pricing is subject to market fluctuations. One benefit is that when duty and VAT is paid, the VAT is due on the purchase price, not the market value, which may be beneficial.
A passion for collecting
Beyond the practical reasons for buying en primeur, there is a sentimental side to it for many collectors. Following a particular wine or estate every year, one to which you may have a particular emotional attachment or simply enjoy, is special. There’s also something rather magical about having bought a wine, say, 30 years ago, knowing it has only moved once or twice in that time (from the producer to storage and from storage to your home), then finally being able to open it with family and friends. The anticipation is part of the joy of building a wine collection.
Gifts and anniversaries
If a particular year has meaning, you may wish to secure wines from that vintage for future anniversaries or birthdays. Some wine collectors choose to buy wine en primeur for children or godchildren, laying down wine which will mature as the recipients do, meaning they’ll have a stock of mature wine to enjoy later in life.
Ratings and reviews
The world’s leading wine critics will all taste, rate and review the new vintage from Bordeaux and Burgundy, as well as other regions. This can offer a good idea of the quality and style of a vintage, as well as give you an idea of how particular wines or producers have fared in the year.
Critics will not always agree – as the famous debate between Robert Parker and Jancis Robinson MW over the 2003 Ch. Pavie highlighted. You may find your palate aligns with one particular critic most, and it is therefore helpful to follow their reviews, rather than looking purely at the wines that score the highest across the board.
While today no single critic has the sway that Robert Parker did in his heyday, critic scores do impact the value of wine, and so you may want to consider these more if planning to re-sell wine purchased en primeur.
Allocations
Lots of wines are available for anyone to buy, either through our website or via your Account Manager. The most sought-after wines, those made in very small volumes and/or with very high demand, are, however, often available only on allocation.
We receive an allocation from a producer and then in turn offer allocations to our clients. There is, sadly, never enough of such wines for us to give them to everyone who wants them, therefore 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. It is worth noting that if you decide not to purchase your allocation of a wine one year, you may lose this allocation. If you would like to discuss your allocations, please contact your Account Manager.
Properties on the rise
En primeur can be a particularly interesting option for wine estates that are on the rise, giving you the chance to secure wines before prices rise, or they are strictly allocated, for example. Looking out for new producers, those that have changed hands, seen significant investment, the arrival of a new winemaker or technical director or other noteworthy changes are worth keeping an eye on. We will do our best to highlight such shifts and where we see significant potential, and wine critics can be a useful source of information here too.
What you want to drink
We will always advise you only to buy wines that you would be happy to drink. If you plan to sell some of the wine you purchase, buying wines that you love will avoid any disappointment should the wines not offer the financial return you had hoped for. There are few downsides to having a cellar stocked full of beautiful wines that you are excited about. Given there are no guarantees on returns with en primeur, it is also essential to buy only what you can afford.
Information is everything
With en primeur, it is unlikely that you will be able to taste the wine before buying. As such, it is important to do your research or get advice from the right people, about the vintage, producers and wines. We do our best to offer in-depth coverage of the new vintage from Bordeaux and Burgundy on our Editorial section, as well as rounding up what key critics are saying about a year. Beyond this, reading critics’ full reports on a year, and coverage throughout the year can be helpful. If you have any specific questions, please contact your Account Manager who will be happy to offer advice.
Additional costs
When considering an en primeur purchase, it is worth being aware of the costs beyond the purchase price. Wines are offered in bond, excluding duty and VAT, but including shipping to our warehouse and insurance. You will need to consider additional charges for storage while your wine matures and any taxes that will be payable on delivery of the wine.
Find out more about en primeur, including how it works, or browse all wine currently available en primeur