Climate

Bordeaux’s climate is unique, heavily influenced by the Atlantic Ocean, which moderates temperatures to create a maritime climate with mild winters and warm, though sometimes unpredictable, summers. This leads to significant vintage variation, a hallmark of Bordeaux wines. The region benefits from the Gulf Stream and the warming effects of the Gironde Estuary, which divides into the Garonne on the Left Bank (home to Medoc and Margaux) and the Dordogne on the Right Bank (where St. Émilion and Pomerol are located).

A History of Terroir

Around 245 million years ago, what is now France was submerged under a shallow tropical sea. As tectonic plates shifted, the area experienced significant geological changes, leaving behind calcium-rich shells from marine life. Over time, these formed the limestone-rich soils seen in regions like the Paris Basin. During the Gallo-Roman era, this limestone was quarried for building materials, used in monuments and buildings that remained cool in summer and warm in winter. Today, this limestone provides a stable and beneficial environment for the roots of grapevines.

The Médoc region, which was swampy until the 17th century, was transformed when Dutch engineers drained the land, revealing gravel mounds and mineral-rich soils that are now highly prized for viticulture. On the Left Bank, the soil is primarily a mix of gravel with clay subsoil. This gravel absorbs and retains heat, allowing late-ripening, thick-skinned Cabernet Sauvignon grapes to mature fully. Conversely, the Right Bank, further from the Atlantic’s moderating influence, has predominantly limestone soils in St. Émilion, known for their water retention properties and balanced nutrient supply. In Pomerol, clay soils dominate, absorbing water to keep vines cool under the summer sun, which helps Merlot grapes maintain their acidity and avoid overripening.

The 1855 Classification – Defining an Asset Class

In 1855, during the reign of Napoleon III, Bordeaux’s finest wines were showcased to the world through the Exposition Universelle de Paris. At Napoleon’s request, Bordeaux brokers compiled a list of top châteaux, ostensibly based on quality. However, the ranking ultimately reflected market prices at the time, adhering to traditional criteria. This classification included only Left Bank wines (with Pessac-Léognan being an exception) and required that the estates produced at least 2,000 cases annually.

Though initially intended only for the 1855 exhibition, the classification has remained largely unchanged, recording 58 red and 21 white wine-producing properties in the Médoc, ranked from Premier Cru (First Growth) to Cinquième …

En Primeur has evolved into a significant event in the wine industry, drawing global attention and anticipation. Regular updates on weather conditions for upcoming vintages are highly publicized, particularly for Bordeaux, where the region’s marginal climate plays a crucial role in determining the potential quality of each vintage. While advancements in winemaking have improved vintage consistency, weather remains a key factor.

During the growing season, which extends until late September or early October, the market closely monitors the progress of the harvest and listens attentively to winemakers’ insights post-assemblage (the final blending of the wine). This anticipation builds up to the first week of April the following year, when the world’s leading wine experts gather to taste the new vintage. These experienced tasters must look beyond the youthful tannins and evaluate the wine’s fruit ripeness, balance, concentration, and ageing potential. The critics’ scores significantly influence the release price, and their recommendations are eagerly awaited by both consumers and investors. Robert Parker’s ratings, in particular, have been known to make or break a vintage’s success. The market then uses these assessments to classify the vintage as poor, good, or excellent. Poorer vintages may need to be consumed within eight years, while exceptional vintages can benefit from up to 30 years of bottle ageing.

In the past, En Primeur investors could purchase wines from top châteaux at opening prices, confident that, in a good or great vintage, the value would continue to rise during the two years before bottling. This offered direct access to exclusive wines with guaranteed provenance, making it a highly attractive investment. However, in recent years, increased speculation and demand have driven consistently higher prices in the wine futures market.

Whether buying for investment or with the intention of eventually enjoying the wine, En Primeur buyers should carefully consider whether the wines will offer equal or better value later in the secondary market. If so, they must ask themselves: why buy now?

What is En Primeur in Wine?

En Primeur, also known as wine futures, is the process of purchasing wine while it is still in the barrel, long before it is bottled and released to the market. This typically occurs for Bordeaux wines, though other regions like Burgundy and the Rhône Valley also participate. The system allows investors and wine enthusiasts to secure wines at a lower price before they are available to the general public.

The En …