Every year, when spring comes, you hear about « Primeurs of Bordeaux ». You know these few words, but you certainly don't know what's behind. At the end of this article, you'll be a real professional on the subject !
Early wines from Beaujolais or Bordeaux ?
Coming from Beaujolais, when I was told about Primeurs, I was thinking right away about Beaujolais Nouveau. But beware, it has nothing to do with.
A primeur wine is a young wine, sold before it matures. This is the case of the famous "Beaujolais Nouveau" marketed on the third Thursday of November.
The sale of "en primeur" wines is a sales system specific to Bordeaux wines.. The winemaker sells a more or less important part of its production 6 months after the harvest. By buying it, the buyer "reserves" a wine whose ageing is not yet finished. Twelve to eighteen months later, when the aging of the wine is finished and the latter is bottled, the customer will then be able to enjoy these precious bottles.
Where does this tradition come from ?
In the 18th century, Bordeaux wine dealer went to the owners a few months before the harvest to estimate and buy the harvest on foot. These "stem sales" are the forefathers of early sales.
The current system of primeurs was put in place over the years 1970. It was largely formalized in the early years 1980, thanks to Baron Philippe de Rothschild who organized a tasting of his vintage 1982 in April, while his wine was still maturing. This tasting was widely shared by the press.
The sale of the wines in primeurs allows the trade to buy and pay to the winemaker the wine almost two years before they are put on the market. So, the wine dealer reserves these bottles at a more attractive price than that of wine when it is put on the actual market. For owners, this system allows them to earn a cash advance before the wine can be put on the market for the next harvest and the current wine aging.
What is the primeur tasting week ?
You can't talk about the primeur system without looking at the "Bordeaux Wine Fashion Week". This week of primeurs tastings brings together all the high society of the wine world. The Union of Grands Crus de Bordeaux and various producer groups bring together wine professionals from all over the world to taste the latest vintage.
Buyers, traders and journalists flock to the various tastings organised by grouping of appellations or directly to the château. The most prestigious wines can, as far as they are concerned, be tasted only by appointment. This difficult tasting exercise consists of juging the quality of the vintage before the wine is finished in order to estimate its purchases..
Notations : price factor
In this context, the role of the press and the great tasters is paramount. The ratings given to the wines are decisive for the sales of the wine. Parker's overly famous notes gave the decisive trend for the vintage and could be a blessing or a curse. A grade greater than 90/100 by Parker ensured the owner a good year for business. Fortunately, Parker no longer calls the shots. The consensus among the main tasters makes it possible to describe the quality of the vintage.
After this week of primeur tasting, the press and the great tasters deliver their verdicts by appellation and property, on the different wines they have tasted. Normally, on the different wines they have tasted, winemakers market their wines, and I'll give you a real scoop, at a price that takes into account these different grades and the demand for the wine. Prices are often communicated within two months of the tasting week.
Every year, all hold their breath before knowing which castle will be the first to reveal its price. In 2013, it was Château Pontet Canet which had created the surprise by revealing its price even before the verdict of the tasters.
The broker : price negotiator
Now that all these people have played their parts, it's the broker's turn to come into play. Its mission is essential in fixing the sale price in primeur. He is the essential intermediary between owners and traders by leading the negotiation between the parties and ensuring the transaction. The commission per transaction and the role of the broker are a historical legacy of the Place de Bordeaux, while there is no requirement to go through this intermediary.
Wine is usually delivered within 18 to 24 month following the primeur sales. It is at this time that the merchants who have obtained allowances take care of selling the wines to the various distributors : wine merchants, e-commerce sites, and so on.
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Yes, very interesting article … there is the essential to get to know the early wines better.