Posts tagged en primeur 2011
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En Primeur - A guide to the ins and outs - and 2011
2011 En Primeur – The Vintage
Happily 2011 was not another ‘Vintage of the Century’ like its predecessors in 2009 & 2010, this has had the effect of dampening prices, keeping mere mortals in the hunt. The state of winemaking in Bordeaux does not admit for ‘Bad Vintages’ like 1992, 1993 and even to some extent 1997. 2011 is a ‘winemakers vintage’, and those who are skilled made very good, concentrated and rich wines indeed – yes there are poorly made, tannic wines – but the trick with this is to trust FVDI to back the winners, which we feel we most certainly have….
Why should I buy and I and what can I gain from it?
Traditionally the En Primeur campaign was the best and only route to acquire an allocation of Bordeaux’ top wines, not just at the most advantageous price, but in fact, at all.
With somewhat less expensive wines it can be an excellent way to start a rolling cellar collection that effectively replenishes itself throughout the years, whilst also avoiding the costs that merchants pass on to their customers for keeping the wines to maturity and their sales to you, the customer.
What are the costs ?
Rather than dwelling on particular wines, lets take a hypothetical case at €100 (in Bond) – What do those two little words suggest ?
It indicates that the wines is kept in a warehouse that has an area that is effectively a Duty Free zone. In order to get your wine to your house, you will need to Pay both Duty and VAT at the prevailing rates.
EG:
Cs Chateau X (in Bond) €100
Duty (per cs 9Ltrs) €24.67
VAT @23% On the whole €27.44
Total €152.12
When Can I take delivery and what are my options ?
2011’s wines will be delivered in March 2014 – you can then choose to leave them in Bond at a cost of €8 per year, this makes sense if the wines are for resale, as one can prove their provenance. Otherwise you will need to pay both the VAT & Duty prior to delivery to your chosen location.
