GRANGE AS A COLLECTIBLE
Penfolds Grange is the cornerstone of the Australian auction market, with a reputation and track record that rivals the great classified growths of Bordeaux and Burgundy. The fame of the heritage-listed Penfolds Grange has reached far and wide. Aside from Australia, it regularly appears at wine auctions in New Zealand, the US, UK, Hong Kong and China. It is also traded, collected and enjoyed throughout the world of fine wine. Rare Grange (1951–1967) All the 1950 and 1960s vintages are now rarities or curios. The most valuable Granges are the experimental 1951 and first release 1952 Grange Hermitage. The 1952, 1953, 1954, 1956, 1957 and 1958 vintages command significant premium values at auction because there are few individual bottles left in circulation. The 1955 was a show wine, and 1959, although a hidden Grange, was commercially released. Still, these vintages are scarce, as are most vintages from the 1960s. A complete collection of Grange, in pristine condition and signed by Max Schubert, can fetch prices above $400,000. But like all rare things, the provenance, condition and timing of the sale all conspire to bring different results. The 1951 Grange at auction performs like a rare stamp. After bottles started appearing on the secondary wine market in the 1980s, it has enjoyed particularly strong interest from the media, normally because of the price it achieves. A single bottle has fetched over $142,000 (including buyer’s premium) in recent years. Vintage Grange (1968–present) Vintage Grange plays a major role in the Australian secondary wine market. Although some of the older vintages have peaked or faded, there are many collectors who still buy the wines, either to drink or to cellar. The performance of 1971 Grange was used as a market yardstick by an economic think tank during the 1980s and 1990s. For many years this wine out-performed other alternative investments, including race horses, taxi plates and rare coins. At one stage in 2003, 1971 Grange enjoyed a 45-fold increase on release price. Although prices stagnated for a while, its rarity value is now beginning to kick in. It is regarded as the greatest vintage of the period.
Penfolds Grange
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