EN PRIMEUR FAQs

 

What is En Primeur?

En Primeur also known as wine futures, is a process of buying wines before they are bottled and released onto the market. Wines are purchased exclusive of duty and VAT and are then usually shipped approximately 2 years after the vintage. Find out more about En Primeur

 

How does En Primeur work?

1. En Primeur wines are purchased before they are bottled and released onto the market and while the vintage still remains in a barrel. En Primeur wines are bought in bond and are exclusive of duty and VAT.

2. On arrival in the UK the wines will be stored, under bond, on your behalf in our customers private reserves with London City Bond.

3. You will be notified of their arrival and asked for any further delivery instruction.

4. All En Primeur purchases are exclusive of duty and VAT, however these taxes will become payable if you choose to accept delivery of the wine anywhere in the EU.

 

Why buy En Primeur?

 The opening En Primeur price is usually considerably cheaper than the price once released on the open market
 It guarantees the absolute best provenance of your wine, direct from the Château or Domaine. You are therefore receiving immaculate, original stock
 The opportunity to secure an allocation of rare, highly desired wines, which may be produced in very limited quantities and once released may be difficult to obtain
 The opportunity to specify the size format you would like; halves, magnums or larger formats

 

What exactly do I pay?

The price of the wine is exclusive of duty and VAT, but inclusive of shipping and insurance charges. Once the wines arrive in the UK, duty and VAT can be deferred further if the wine is stored ‘in bond’ in a registered bonded warehouse. If you are potentially interested in selling your wines at a latter date, it is advisable to store them under bond. If wines are stored in bond, further storage and insurance charges will apply.

 

How much is wine duty?

With effect as of Sunday 19th March 2014, the following Excise Duty Rates (excluding VAT) are as follows: 

  Per Standard 75cl Bottle Per Case
Still Wines £2.08 £24.96
Sparkling Wines £2.67 £32.04
Port £2.78 £33.36

 UK VAT rate is 20% (applied after duty)

Rates are subject to change by the government at any time.

 

What does IN BOND mean?

Wines in bond, are purchased wines, which have had no UK duty, or VAT paid on them. Under UK law, they must be stored in a bonded warehouse approved by HM Customs & Excise. If you request the wines to be delivered to you (anywhere in the EU), then duty and VAT will be payable by you in addition to the price. The duty and VAT on wines purchased in bond can be deferred further by keeping them stored in a bonded warehouse.

 

What is included in En Primeur prices?

A description of the wine and prices will accompany our En Primeur wine list. All prices are quoted in bond, and are inclusive of freight and delivery to Paramount Vintners bonded warehouse at London City Bond in the UK. Insurance is inclusive. Prices may vary due to fluctuations in currency, the market and to stock not being sold.

 

Are En Primeur wines insured?

We will remain responsible for insuring the wine at the original invoice value, until your delivery and/or storage instructions have been completed. Ownership of the wines will pass on settlement of all outstanding charges.

 

When are En Primeur wines shipped to the UK?

When purchasing En Primeur wines online, the specific wine and vintage you buy, will have information indicating the anticipated date when that vintage will be bottled and shipped to the UK. Typically the wine arrives in the UK 1-3 years after the harvest, therefore up to 2 years after you have made your purchase. Such dates are an indication only and are not guaranteed.

 

What happens after the wine is shipped to the UK?

Following shipment, wines will be placed by default directly into our customer’s private reserves, at London City Bond. You will be informed of their arrival and asked to make a decision on whether you would like to keep the wines in bond, or to accept delivery.

Should you choose to keep the wines in bond, storage charges will apply. Should you choose to accept delivery of the wine, you will then be required to pay duty and VAT if the delivery destination is in the EU.

 

Which regions sell their wine this way?

Traditionally only wines from Bordeaux were sold En Primeur. Now the wines most commonly offered En Primeur are from Bordeaux, Burgundy, The Rhône Valley and Port, although other regions are now adopting the practice.

 

How do I order En Primeur?

You may order En Primeur online by visiting our current En Primeur wine list. Alternatively you may order by phone or email.

 

Where and how should I store my wines when they arrive?

When your wine arrives I the UK, you will be notified of its arrival. From there you can either keep the wine stored under optimum conditions, in your private reserves in our warehouse at London City Bond, or you can accept delivery of your wine. Wherever you do decide to store your wine, the correct storage is of vital importance. Without the optimum storage conditions, the delicate nature of wine is easily damaged, and diminishes at best, its chances of reaching its potential.

Wherever wine is stored it should be:

 On its side, laying down
 At a steady temperature between 10-14° centigrade
 In the dark
 Away from vibrations
 Safe, both physically and financially

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