Bottle of first vintage Grange sells for $150,000

A bottle of first vintage Penfolds Grange sold for $150,000, including the buyer’s premium, at a Langton’s live auction in Sydney last night.

The buyer was a wine collector from the Greater Sydney area, who was competing for the coveted bottle against two other bidders.

Langton’s General Manager Tamara Grischy, said: “It’s a fantastic result, and shows a really vibrant, strong fine wine market here in Australia.

“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.

“Penfolds Grange is one of the sought-after brands on the secondary wine market. It is liquid gold in a bottle, and as the first vintages become rarer to find, we will continue to see demand increase.”

Grischy’s observation around Grange being ‘liquid gold’ is emphasised with a complete set of all vintages of the wine, from 1951 to 2018, 67 bottles in total to go under the hammer for at least $400,000.

The live auction took place at The Eveleigh in Sydney, where 200 guests enjoyed a three-course meal with matching wines from Penfolds, Wynns Coonowarra and Champagne Bollinger.

In total, 31 lots sold last night for $470,000. Other highlights include a Jacques Selosse Selection 3 Bottle Set Champagne which sold for $6,407 (reserve price $1,380) and the Domaine Armand Rousseau Grand Cru three-Bottle Set, Chambertin selling for $34,950 (reserve $23,000).

Grischy added: “The secondary fine wine market is the hottest it has ever been, and 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.”

In December 2021, a bottle of Penfolds Grange Hermitage Bin 1 Shiraz 1951 went under the hammer at a Langton’s online auction for $157,624, making it the most expensive bottle of Australian wine ever sold.