Buying en primeur

How about sometimes?

There are a few reasons that one should possibly consider buying futures:

To secure a wine, especially small production, that you collect. If you're doing a vertical of Le Pin, Petrus, or some other small production, it can be hard to find after release.

To secure a wine that you want in alternative formats- premium for 375s, 1.5L, or the really big boys is less at futures than after release, when non-standard formats are few and far between.

To ensure storage- can't guarantee re before it comes into merchant's possession, but futures lets one take control of storage as early as possible.

To secure a price (never forget the cost of money over time when considering this).

The last one is the controversial one. There is NEVER a guarantee what prices will do. In general, I've found that I did well getting futures in heavily touted vintages. I'm very glad that I bought 2000 Bdx futures, of 8 bottlings I bought I've seen one offered since release at close to price I paid ($16.67/bottle, I saw at $18 on sale once). Lowest price on others ranged from

30-75% over my price. And I constantly kick myself that I passed on Leoville Poyferre at $45 as too expensive, as $75 is lowest I've seen since release.

In '99 , I only bought Poyferre, and could have gotten for same price (with some searching) a year after release.

I buy wine on futures/prearrival when I know I want to buy at some point, and I happen to have available cash. I bought some 2001 futures because I had some money available, and it's our anniversary. My guess is from a purely financial standpoint I won't save any money. I didn't buy any 2002s. I think with 2003s, I'll mostly pass due to foreign exchanges issues- my choices might be different if I was in Europe.'

best, Dale

Dale Williams Drop "damnspam" to reply

Just to be clear, this is not from personal experience! Dale

Dale Williams Drop "damnspam" to reply

I should state that this was Meyney, savaged by Arpy, which explains it's lack of appreciation compared to others, but it still is currently $20-30 on winesearcher. Dale

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