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Futures
Also called "En Premier," wine futures offer customers the opportunity to purchase wine at a discounted price before it is officially released and rated by the critics.
How the Process Works (Bordeaux)
- In September, crops are harvested and fermented, then transferred to oak barrels for 14 to 20 months of storage.
- Around March in the year following the harvest, producers invite a few exclusive brokers, wine writers and specialist reporters to taste the latest vintage.
- In April, third party vintage assessments are published and the Union des Maisons de Bordeaux reveals harvest results and tasting notes. Chateau owners will then propose an opening price for their wines and solicit sales.
- From May to mid June, Bordeaux négociants initiate the first "release" or entitlement to purchase these wines, which wine retailers around the world market to consumers.
- 5 to 11 months later the pre-sold wine will be delivered to its buyers.