How En Primeur Works
- Harvest (September-October) — grapes are picked and vinification begins
- Barrel samples (March-April) — critics and merchants taste young wines from barrel
- Scores and reviews — Robert Parker, James Suckling, Jancis Robinson, and others publish assessments
- Release prices (April-June) — châteaux release tranches at set prices through merchants (négociants)
- Purchase — buyers commit to buy at the release price
- Delivery (2-3 years later) — wines are bottled, shipped, and delivered
Why Buy En Primeur?
- Price advantage — in great vintages, release prices can be below future market value
- Allocation access — top wines (Lafite, Margaux, Pétrus) are only available en primeur
- Provenance — guaranteed authentic, direct from the château
Risks
- No guarantee of appreciation — prices can fall after release
- Cash tied up — payment upfront, delivery years later
- Merchant risk — if the merchant fails, you may lose your investment
- Vintage variation — a wine's barrel sample may develop differently in bottle
Beyond Bordeaux
While Bordeaux dominates en primeur, Burgundy, the Rhône Valley, and some Italian producers also offer futures, though less systematically.