En Primeur, or “Wine Futures”, refers to the method of purchasing wine before it is bottled. While it is still maturing in barrel at the Château or Domaine, a quantity of wine is released onto the market―called a “tranche”―the Spring or Summer following the vintage. Wines are purchased in unmixed cases, excluding taxation, to be delivered over the following 12 to 18 months, either to be stored with us under bond, or to a home address (at which point VAT and Duty are paid). Bordeaux, Burgundy, the Rhone Valley, and Port are the most common regions to offer En Primeur, although many other producers are utilising the method.
En Primeur allows you access to wines from vaunted Chateau and Domaines that are otherwise very difficult to procure from the open market. One reason is that production volumes of Grand Cru and Premier Cru wines from Burgundy, for instance, are so minuscule, that purchasing prior to bottling will be the only means of obtaining these highly desirable wines. Exceptional vintages, such as 2005 and 2009 in Bordeaux, also increase demand and therefore limit availability.
Commonly the first tranche of En Primeur are released at a preferential price, with subsequent tranche at higher prices in line with the eventual market price once the wines are bottled and shipped. In addition to access and preferential pricing, En Primeur also guarantees provenance. From point of purchase, through to storage in our temperature controlled and insured warehouse, this ensures that your wine will be in perfect condition when it comes time to pop the cork.
Bordeaux’s fondness for five ‘vintages of the decade’ per ten years is well known, and they have definitely toned down the hype in recent years. Indeed, they seem almost embarrassed by the quality they have achieved in some instances in 2019. Without doubt, it appears to be a very good vintage; perhaps lacking the extra stardust of a 2010 or 2016, but it is at the level of or superior to 2009, 2015 and 2018 in some cases.
En Primeur FAQs
How does En Primeur work?
En Primeur wines are purchased while the wine is held by the producer, maturing, prior to bottling. All wines are purchased exclusive of Duty and VAT, otherwise known as In Bond. After 12 to 18 months, they will be shipped to the UK, at which point you will be notified. They can be stored with us, or can be delivered to a home address, at which point the current rate of Duty and VAT are due. Wines can also be shipped abroad, whereupon taxes are payable.
What do I pay?
All En Primeur wines are exclusive of Duty and VAT. Once the wines arrive in the UK, Duty and VAT are due, or wines can be held In Bond at our Storage facilities.
What does In Bond mean?
In Bond refers to wine on which Duty and VAT have not been paid. 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 Duty and VAT. Another significant benefit of purchasing In Bond is when shipping wine to another country with different rates of taxation.
Are En Primeur wines insured?
We hold responsibility for insuring En Primeur at the original invoice value until delivery is made to you at either a storage account or another address.
What happens after the wines are shipped to the UK?
You will be notified of the arrival of your wines once they have landed in our warehouse, at which point they will be transferred to your Jeroboams storage account, or sent to an address of your choosing. Duty and VAT will be due on all wines delivered out of bond.
Why buy En Primeur?
En Primeur gives you the opportunity to secure stocks of highly desirable wines, often produced in minuscule quantities, which are hard to find on the open market. The opening price of En Primeur is typically lower than the eventual market price.
How much is wine Duty?
The current rate of duty is:
£2.23 per 75cl bottle of still wine.
£2.86 per 75cl bottle of sparkling wine.
£2.98 per bottle of fortified wine.
UK VAT = 20% (applied after Duty)
Rates are subject to change by the UK government.
What is included in En Primeur price?
All prices quoted in En Primeur campaigns are inclusive of freight to a Jeroboams storage account. All En Primeur wine is purchased In Bond, with Duty and VAT payable when delivered to home address.
When are En Primeur wines shipped to the UK?
Shipping usually occurs between 12 to 24 months after the launch of an En Primeur campaign, although this varies from producer to producer. At the point of invoice, we will provide an estimated shipment date, but cannot guarantee delivery will be made on this exact date.
Can I order individual bottles?
All wines are purchased by the case. However, one of the benefits of purchasing wines En Primeur is that you can choose to have your wines bottled by the bottle, magnum or even larger.