En primeur is the system by which Bordeaux châteaux release their wines to the market before bottling — typically 18 to 24 months before physical delivery. Buyers receive an allocation of wine at a fixed price, then wait for the wine to be bottled and shipped.
Why buy en primeur?
The en primeur system exists because it benefits both producer and buyer. The château receives early capital; the buyer secures an allocation at a price that, in strong vintages, is materially below the secondary market price at release.
For investment-grade Bordeaux in exceptional vintages — 2005, 2009, 2010, 2015, 2016, 2022 — buying en primeur at the opening price has historically been the only way to acquire the wine at a price that makes economic sense.
The risks of en primeur
En primeur is not without risk. In a weak vintage, or in a vintage where the châteaux have priced aggressively, the secondary market price at release may be below or equal to the en primeur opening price. You are paying now for wine you will not receive for two years.
In exceptional vintages, buying en primeur at the opening price has historically been the only way to acquire investment-grade Bordeaux at an economically viable level.
How Cellar Advisor approaches en primeur
We participate in en primeur selectively. We do not recommend buying every vintage or every château. Our Liv-Ex membership and relationships with négociants give us access to the allocations that matter, at prices that reflect trade rather than retail.
Storage and provenance
All en primeur purchases made through Cellar Advisor are held in bond at LCB Eton Park under your named account from the moment of physical delivery. This establishes unbroken provenance from château to your cellar — a critical factor in maintaining resale value.