What is Fine Wine?
Fine Wine is a contested term as it can mean many different things to many different people. For Jeroboams, Fine Wine refers to a class of premium wines that are available to purchase two ways: In Bond, or for home delivery, otherwise known as Duty Paid.
As a business, we purchase fine wine Under Bond, meaning that Duty and VAT are only paid once the wine leaves a Bonded warehouse for delivery to a business or private address. Due to rates of taxation fluctuating year to year, the Bonded system allows for the movement and storage of alcohol tax free until the product leaves that system, at which point the current level of tax is applied.
Fine Wine In Bond
Why buy In Bond? The main value of purchasing In Bond is that you don’t pay tax straight away. Most wine purchased Under Bond is sent to a professional storage provider where it is kept until the owner wishes to take home delivery, or sell their wine to a business such as Jeroboams.
At the point of home delivery, the owner will be issued with an invoice for tax. Purchasing wine Under Bond also simplifies shipping wine to another country with different rates of taxation.
Fine Wine for Home Delivery
Why buy Duty Paid? Put simply, wine is purchased Duty Paid when you either want to drink it or prefer storing it at home in your personal cellar. Much of the wine we sell is ready to drink now, so there is little need to further age it.
If you would like more information on purchasing Under Bond or Duty Paid, please do not hesitate to get in touch using the contact details below.
En Primeur, or “Wine Futures”, refers to the method of purchasing wine before it is bottled. En Primeur is typically the only means of securing the most desirable wines, especially those produced in minuscule volumes or in fantastic vintages, often at preferential prices. Wines will be shipping between 12 to 24 months after purchase, directly to your bonded storage account, or to a home address.
Fine Wine Services
Our Fine Wine Services ensure that from purchasing and storage, through to consumption, all your needs are covered.
Led by our Fine Wine Team, we offer expert guidance on buying and selling fine wine, for personal consumption or investment.
In wine, there is truth.Pliny the Elder