Sydney Times

CONNOISSEUR MAGAZINE

Penfolds Grange set sold for a record AUS$431,000

Written by Aksel Ritenis

Penfolds Grange set sold for a record AUS$431,000

A complete set of Penfolds Grange has sold for $430,000* in the Langton’s Penfolds Rewards of Patience auction – a world record price.

Christmas came early for a Sydney wine lover who successfully won the bidding war of the coveted set, which contains all vintages of Penfolds Grange from 1951 to 2015 (64 bottles in total). 

“This Penfolds set is unique because some of the bottles are signed by Max Schubert, Penfolds first Chief Winemaker and the man behind Penfolds Grange. Many of the older vintages have also been certified in the Penfolds clinic,” said Langton’s Head of Auctions Tamara Grischy. 

The previous record was from December 2019, when a set of Penfolds Grange sold for $372,800*.

“A Penfolds Grange set is a wine collector’s ultimate dream. It has been estimated there are only around 30 complete Penfolds Grange sets in existence in the world, making them incredibly rare,” she explained. 

The price for sets has increased by over 40% in the last three years alone.

“This auction result is a great news story for Australian fine wine, as it shows that Penfolds goes from strength to strength – it’s like liquid gold.” she said.

Other highlights in the auction included a Penfolds Bin 60A Cabernet Shiraz 1962 which sold for $15,005 and a Penfolds Bin 60A Cabernet Shiraz 1962 which went under the hammer for $18,472.

“Penfolds is a great investment because the wine is consistent in quality, and people love the story behind it. Max Schubert started making Penfolds Grange as an experiment and was told to stop by his supervisors, but he continued and made what would eventually become Australia’s most famous wine in secret,” she said.

“Penfolds Grange truly represents the beginning of modern Australian wine, and has put Australia on the world map of fine wine,” she added.

The Langton’s Rewards of Patience auction is in its 24th year and takes place every six months

About the author

Aksel Ritenis

Publisher and Custodian of the Sydney Times

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