Every year in the world of wine, it is THE unmissable event of April, the moment when 6000 people, professionals and amateurs from all over the world, converge towards Bordeaux in order to taste the vintage still being matured and not yet available for sale. In this year 2021, the event has also been exported across the world (Paris, Singapore, New York, etc.) in order to limit travel, due to the pandemic.
But where does this tradition come from, how does it work and what are its objectives? ?
Originally Firsts
If the origin of the Bordeaux Primeurs dates back to 18th century , the concept was at the time only reserved for professionals who bought grapes from the estates before the harvest. The modern version as we know it today dates back to the early 1980s. It was during this period that the Baron Philippe de Rothschild decided to organize tastings of the vintage being matured directly at the Château. Little by little, the idea seduced other owners of Great Growths of the region and from 1982, the event was institutionalized. The modern idea of the Primeurs de Bordeaux was born.
How it works
At the end of April 2021, it was the 2020 vintage that was tasted in preview by professionals (traders, brokers, journalists, etc.) and some informed amateurs. The objective of this tasting is simple: give the qualitative trend wines and more generally the vintage . The exercise is not not an exact science and tasters must use a certain amount of imagination in order to project the possible evolution of wines which at this stage have a large tannic base and are not yet stabilised (the ageing not being finished). Few people are really capable of imagining what these " juice " will be able to give in 10 to 20 years and the forecasts often remain risky. However, it is these assessments which will (in part) determine at what prices the châteaux will offer their vintages " first " a few weeks later.
Once the prices are set, the sales system of the Bordeaux Square starts working : the Châteaux then pre-sell through brokers the desired volumes in the form of allocations to the merchants with whom they decide to work. The latter will be in charge of pre-selling the wine throughout the world to restaurants, wine merchants, e-commerce sites and other brands that will only receive their purchases 12 to 18 months later, once the aging has reached its end.
Although the en primeur sale only concerns 5 to 10% of Bordeaux production (mainly the Grands Crus Classés, some of which sell their entire harvest en primeur), it also has a significant leverage effect on smaller châteaux which take advantage of the event to introduce their wines to professionals present during this event.
Tasting of several wines en primeur
The advantages of buying Primeurs
But then, is buying en primeur ultimately so interesting for the end consumer? ? If this can be the opportunity to secure a few bottles of rare vintages , this can also allow to achieve some savings even if nothing is guaranteed. Indeed, if in the 1980s there were significant discounts, the gaps have tended to reduce in recent years (particularly on the great Châteaux) and the consumer no longer systematically benefits from a lower price when buying en primeur compared to the actual marketing of the wines 12 to 18 months later.
This system is nevertheless a real advantage for the properties ! Indeed, this allows the Châteaux to benefit from cash inflows even before having finalized the production of their wines. Furthermore, the Primeurs are also a superb way to communicate and get people talking for the properties.
Conclusion
If the Primeurs system offers benefits for the consumer (reserve of rare vintages, price deals, perfect traceability of wines), The organization of the event also benefits the great Châteaux, which secure their cash flow and are talked about in the press. In any case, the event remains followed worldwide and generates an ambient dynamism within the Bordeaux region that can benefit other properties.
Finally, if this system is specific to Bordeaux, other regions ( Burgundy , Rhone ) and estates have in recent years taken the plunge and are also presenting their wines as primeurs.
If you are interested in Bordeaux Primeurs, do not hesitate to contact The Illuminated Cellar in order to guide you in your choices !
