A 1951 Penfolds Grange sold for more than $150,000 at a Langton’s live auction in Sydney last week.
Penfolds Grange Hermitage Bin 1 Shiraz 1951 is the first vintage ever made of Australia’s most famous wine, and is in high demand among wine collectors looking to complete their Penfolds Grange sets.
A set contains all vintages of Penfolds Grange from 1951 to 2018 (67 bottles in total), and will go under the hammer for at least $400,000.
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The buyer was a wine collector from the Greater Sydney area, and they were competing for the coveted bottle against two other bidders.
The $150K sale price (including 16.5 per cent buyer’s premium) fell short of the record $157,624 paid for a ‘51 Grange in a Langtons online auction in December last year.
However, Langton’s general manager Tamara Grischy said it was nevertheless “a fantastic result”.
“It shows a really vibrant, strong fine wine market here in Australia,” she said.
“This particular Penfolds Grange 1951 was in excellent condition and is still in its original cap, which is very rare.
“In addition, the label was among the most intact of this vintage I have ever seen. The buyer is thrilled to add it to their wine collection,” she added.
In total, 31 lots sold at the auction with highlights including a Jacques Selosse Selection 3 Bottle Set Champagne which sold for $6,407 (reserve price $1,380) and the Domaine Armand Rousseau Grand Cru 3 Bottle Set, Chambertin selling for $34,950 (reserve $23,000).
However, guests baulked at the $80,000 price tag on a 10-person ‘Ultimate Burgundy Dinner or Lunch’ with Ned Goodwin MW at Elizabeth Bay House in Sydney.
Rare Burgundy wines valued at $60,000 alone would be included, Goodwin told bidders, but the experiential lot failed to attract a single bid.
Grischy said the secondary fine wine market is “the hottest it has ever been”.
“After a few years of lockdowns, it was exciting to bring wine lovers together and to let them get up close and personal with rare treasures many will never see in their lifetime!” she said.
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