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Preheat the oven to 500°F. Put the prime rib in a roasting pan bone-side down, rub all over with the salt, and let sit at room temperature for 1 hour. Blot with a paper towel to remove any moisture.
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In a small bowl, combine the butter, rosemary, thyme, basil, oregano, pepper, and crushed garlic. Massage the herb butter all over the prime rib, then roast in a roasting pan, bone-side down, for 15 minutes. Lower the temperature to 325°F and continue to cook for 2 hours or until a meat thermometer inserted into the center of the meat reads 120°F. Transfer the meat to a cutting board and let rest for 15 minutes (it will warm to 130°F while resting).
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Meanwhile, make the gravy: Place the roasting pan on the stovetop over medium heat, add the red wine, and stir for a few minutes, loosening any brown bits stuck to the bottom of the pan. In a small bowl, mix together the butter and the flour until combined. Add half of the butter-flour mixture to the pan and whisk until dissolved and well combined. Slowly add the broth and stir until the gravy thickens to your desired consistency, adding the remaining butter-flour mixture halfway through. Season to taste with salt.
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Slice the meat and arrange it on a platter, transfer the gravy to a gravy boat, and serve.