Penfolds Rewards of Patience Auction Live
Wednesday, December 11, 2019 in News
Going, going, Grange! More than 1800 bottles are going under the hammer in Langton’s Penfolds-only auction. Bid Now.
A complete set of Penfolds Grange – 65 vintages from 1951 to 2015 – is expected to set a new auction price record this weekend when it goes under the hammer in Langton’s latest Penfolds: Rewards of Patience auction sale. See our Grange buyers guide.
The current record price for a Grange set is $349,618, set at a Langton’s auction in December last year (2018).
More than 1800 Penfolds bottles (in 2066 lots) are on offer in the online auction, which is open for bidding. The auction closes at 7pm Sunday, December 15. Browse and bid now.
Also included are two bottles of Australia’s most valuable and sought-after wine: 1951 Penfolds Grange, which holds the record price – $78,056 – for a single (750ml) bottle of Australian wine, set at a June 2018 Langton’s sale.
The Grange set phenomenon goes back to Langton’s early years as Australia’s first (and then only) specialist wine auctioneer in the late 1980s and early 1990s.
‘In 1995, I remember selling a set for $30,000’, said Tamara Grischy, Head of Auctions at Langton’s. ‘As the Penfolds brand has continued to evolve and become one of the biggest wine brands in the world, the demand keeps increasing’.
The first Grange, the 1951, was a trial wine that was never commercially released. All the early Grange sets began with the 1952, but then collectors began to realise that those sets were incomplete.
‘It’s very rare to see one bottle, let alone two, of the first Grange, which was a wine that Penfolds then Chief Winemaker Max Schubert made 68 years ago as an experiment. Both bottles are in amazing condition, and have outstanding provenance’, Ms Grischy said.
‘This is a historic wine that represents the beginning of modern Australian red winemaking. It is believed there are less than 20 bottles remaining in circulation’, she added.
At the other end of the scale, the auction includes many Penfolds wines expected to sell for $30 per bottle or less, including Langton’s Classified wines such as Bin 28 Kalimna Shiraz and Bin 128 Coonawarra Shiraz.
This demonstrates Penfolds unique status in the wine world as a maker of red, white and fortified wines, both everyday drinks and international wine icons, all highly regarded for quality and value across every variety and wine-style and at every pricepoint.
Langton’s is today the world’s leading marketplace for Grange and other Penfolds wines such as Bin 707 Cabernet Sauvignon, Bin 389 Cabernet Shiraz and St Henri Shiraz.
These long-pedigreed wines have been joined more recently by reds such as RWT Bin 798 Barossa Valley Shiraz, Magill Estate Shiraz and white wines, led by Yattarna Chardonnay.
Grange has headlined Langton’s Classification of Australian Wine since its inception in 1990 and was joined in the highest – ‘Exceptional’ – category by Bin 707 in 2000.
With a total of 10 wines in the seventh Classification (2018), Penfolds can boast more Classified wines than any other producer.
Ms Grischy said that although many bidders were collectors, the Rewards of Patience Auction was a good way for novices or those seeking value to get their hands on wines from Australia’s most sought-after brand.
‘You might be able to snap up a lovely Penfolds Bin wine for under $30. For under $60, you can probably get a Penfolds 1998 Kalimna Bin 28 Shiraz. It’s drinking beautifully at the moment, and can even be a nice first bottle to start a collection’, she suggested.
‘If you’re planning on starting a collection, make sure to store your wine correctly and get appropriate insurance. You can always contact one of our brokers for free advice and guidance, and they can also help you source wines for your collection, or sell wines on your behalf’, she added.