The world of fine wine is steeped in tradition, and few traditions are as intriguing as the en primeur system. For those unfamiliar, en primeur (pronounced "on pree-mur") refers to the practice of buying wines before they've even finished aging. Essentially, it's a pre-release sale, offering wine enthusiasts a unique opportunity to secure coveted vintages at a potentially lower price, years before they hit the market. This article delves into the fascinating world of en primeur, exploring its benefits, drawbacks, and the key things to consider before taking the plunge.
What Happens at an En Primeur Event?
En primeur events are typically held in the spring following the harvest in Bordeaux, Burgundy, and other major wine regions. These events, often exclusive tastings and presentations, allow merchants, critics, and professional buyers to sample the newly produced wines directly from the chateau or producer. Based on these tastings, critics issue their assessments, which heavily influence pricing and demand. The wines are then offered for sale en primeur, meaning "in the future," typically for delivery several years later.
How Does the En Primeur System Work?
The process is elegantly simple yet carries significant risk and reward:
- Harvest & Winemaking: The grapes are harvested, and the wine is made, undergoing initial aging in barrels.
- Tasting & Assessment: Critics and professionals sample the young wines, assessing their potential for aging and future quality.
- Pricing & Release: Based on the tastings and assessments, the chateaux or producers set the en primeur price. The wines are then offered for sale to merchants.
- Merchant Sales: Merchants, both large and small, buy the wine and then resell it to collectors and consumers.
- Bottling & Aging: The wine continues to age in the chateau or producer's cellar.
- Delivery & Release: Years later, usually two to five, the bottled wine is delivered to the buyers.
Is Buying En Primeur Risky?
Yes, buying en primeur carries inherent risks. The most significant risk is that the wine may not live up to expectations. The young wines tasted are far from their finished state. Factors such as unexpected weather patterns and unforeseen cellar issues could impact the final product. Additionally, market fluctuations can influence the resale value of the wine, potentially leading to losses if the market softens.
What are the benefits of buying en primeur wine?
Despite the risks, several significant benefits attract buyers:
- Potential for price appreciation: Historically, many en primeur wines appreciate in value over time, offering the chance for a good return on investment.
- Access to rare vintages: Buying en primeur provides access to sought-after wines that might be unavailable or much more expensive later.
- Secure allocation: Securing a desirable wine en primeur guarantees you receive it, avoiding potential scarcity issues down the line.
- The thrill of the anticipation: The years of anticipation before receiving your wine adds a unique element of excitement to the experience.
What are the disadvantages of buying en primeur wine?
However, consider these drawbacks:
- Uncertainty about final quality: The wine tasted is young and unrefined. Its final quality and potential cannot be completely guaranteed.
- Price volatility: The market value of wine can fluctuate. Your investment may lose value.
- Long-term commitment: You are committing to a purchase with delivery only after several years.
- Storage: You'll need adequate storage for the wine until its delivery.
How to choose which en primeur wines to buy?
Carefully consider these factors:
- Reputation of the producer: Choose wines from established producers with a track record of high-quality wines.
- Critic reviews: Pay attention to reviews from reputable wine critics, but remember that these are just opinions.
- Your personal preferences: Choose wines you enjoy and that fit your palate.
- Budget: Set a budget and stick to it.
Where can I buy en primeur wines?
En primeur wines are typically purchased through specialized wine merchants or directly from the chateaux (though the latter is often less accessible). Research reputable merchants and ensure they have a proven track record and excellent storage facilities.
By carefully weighing the risks and rewards, understanding the process, and selecting reputable sources, you can navigate the exciting world of en primeur and potentially secure some truly exceptional wines for your cellar. Remember, due diligence is key to enjoying this unique aspect of fine wine collecting.
