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PREMIUM

The history of en primeur – a stop-start story

An intensive few spring weeks of tastings, ratings and drawn-out unveiling of prices for Bordeaux’s latest, still-in-barrel, vintage has become an integral part of the market. Our in-depth look at the evolution of Bordeaux ‘en primeur’ helps to shine a light on its continued relevance for the consumer today.

Many people associate the rise of Bordeaux en primeur with the legendary 1982 vintage. However, selling Bordeaux wine en primeur – while the new wines are still ageing in barrel, potentially many months prior to their bottling and release – boasts a storied history, dating all the way back to the 1740s.

By the early 20th century, it had become a significant event in Bordeaux, with frenzied autumnal ‘campaigns’ taking place among prestigious châteaux and Bordeaux négociants. However, it wasn’t until the 1950s that the practice began to evolve into its modern form.

Today, ‘EP’ as it’s known, remains an important way to buy Bordeaux wine ‘futures’, often as a form of investment.

For the producers, it’s a hedging tool that reduces price volatility and secures cashflow. How this all started helps to explain the forces that will continue to affect EP and its prices.

As The Wine Society’s long-serving buyer, now retired, Sebastian Payne MW tells me, this history has ‘all to do with money, of course, or lack of it’.


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