WINE GLOSSARY OF TERMS Flashcards
BP / BUYER’S PREMIUM
the charge or fee paid by the buyer to the auction house
DDP / DELIVERED DUTY PAID
Signifies that the price quoted includes all the charges, including shipping, and any taxes as applicable up to the destination named by the buyer.
DP
DUTY PAID
EN PRIMEUR
French for “FUTURES”
FUTURES
simply means to buy/sell wine after it is made, but BEFORE it is bottled and/or released into the market.
HT / HORS-TAXE
French for “EXCLUDING TAX”
-Another way of specifying this to say “PLUS APPLICABLE TAXES.”
IB or I/B > IN BOND
Refers to wines stored in bonded warehouses or storage facilities, which are exempt from sales or excise taxes.
- These also do not incur any taxes if bought or sold while still in bond.
- Another important feature of “in bond” pricing is that if someone chooses to have the wine delivered at a later date, the sales tax is payable on the original sale price of the wine and not the current market value.
LOT # / LOT NUMBER
An identification number allotted to a set of wines to be sold as a lot.
Per Unit
indicates that the wine is sold as a unit, be it a bottle, case or OWC (Original wooden case)
OWC
Original Wooden Case
PPU
PRICE PER UNIT
PRE-ARRIVAL
Wine sold as “FUTURES” or “EN PRIMEUR”
TC / TOUT COMPRIS
TTC / TARIFS TOUT COMPRIS
French term for “all inclusive”
“all-inclusive price”
VAT / “VALUE ADDED TAX”
Similar to GST (Goods and Services Tax)
-basically means tax levied on value added to the wine during different stages of production and selling.
VENDU A L UNITE
French term meaning “sold as a unit”
-on French merchants wine lists
WET / “WINE EQUILISATION TAX”
A form of VAT that you may come across on wine lists from Australian merchants.
IS
IN STOCK
LI
LIMITED INVENTORY
LIMITED RELEASE
A marketing tool used to indicate a wine higher quality because of lower production; it has no legal siginificance
LS
LIMITED STOCK
LOW STOCK
OS
OUT OF STOCK
EB
ESTATE BOTTLED
MC / MISE AN BOUTEILLE AU CHATEAU
Estate bottled or bottled by the wine producer within the estate.
used on quality wine labels from Bordeaux in particular
MISE EN BOUTEILLE A LA PROPRIETE
French term meaning BOTTLED AT THE PROPERTY
MISE EN BOUTEILLE AU DOMAINE
Estate bottled.
Mostly seen on BURGUNDY wine labels
MIS EN BOUNTEILLE DANS NOS CAVES / MIS EN BOUTEILLE DANS NOS CHAIS
Bottled in our cellars
IB ; I/B
a wine stored “in bond.”
Apart from the pricing, “in bond” also theoretically signifies professional storage to maintain a wine’s provenance.
OC
ORIGINAL CASE
OHK / ORIGINALHOLZKISTE
the German for OWC
OWC / ORIGINAL WOODEN CASE
Normally indicates wines that comes in wooden cases and bear some form of identification of the estate or the producer.
*quite a common practice for premium wines
1CRU / 1ER CRU
Premier Cru
AOC(AOP) /
APPELATION D’ORIGIN CONTROLEE
the EU equivalent is APPELLATION D’ORIGIN PROTEGEE
AVA / AMERICAN VITICULTURAL AREA.
This abbreviation may follow a region’s name
ex: Columbia Valley AVA
BORDEAUX FIRST GROWTHS
1er GCC (Premier Grand Cru Classe) 1er CC (Premier Cru Classe) PGC (Premier Grand Cru) 1er GCC 'A' or 'B' (classification for wines from Bordeaux right bank region of Saint Emlion)
DO / DOMINACION DE ORIGEN
A spanish term denoting quality wine from a designated area.
DOC / DENOMINAZIONE DI ORIGINE CONTROLLATA
Below DOCG and equivalent to the French AOC