Late bottled vintage (often referred to simply as LBV) was originally wine that had been destined for bottling as vintage port, but because of lack of demand was left in the barrel for longer than had been planned. Over time it has become two distinct styles of wine, both of them bottled between four and six years after the vintage, but one style is fined and filtered before bottling, while the other is not.
The filtered wine has the advantage of being ready to drink without decanting and is usually bottled in a stoppered bottle that can be easily resealed. However, many wine experts feel that this convenience comes at a price and believe that the filtration process strips out much of the character of the wine