Premium wine retailer and auction house Langton’s is expecting to set a number of record prices for fine wines when it holds its first live auction in Sydney next month.
The auction will see 35 lots, with a Penfolds Grange Hermitage Bin 1 Shiraz 1951, the first ever vintage of the famous Australian wine, leading the way. Langton’s is expecting the wine to pass the record price of $157,624 for a bottle of the 1951 Penfolds Grange, which was paid in December 2021.
Langton’s General Manager Tamara Grischy, said: “Penfolds Grange is liquid gold in a bottle, and as the first vintages become rarer to find, we will continue to see demand increase. We are expecting this bottle to fetch up between $140,000 to $160,000 which means it could break the existing world record.
“Australian and international very old fine wines, at least 30 years of age, are in great demand as the number of bottles available continues to decline. Also, sets of vertical vintages from well-known classic producers receive extraordinary demand as these offerings are very limited and hard to access which means it could be a night where many records are broken.”
Other lots at the auction include an extremely rare bottling of 1953 Penfolds Bin 86C ($28,000-$35,000), Penfolds G Series – g3, g4, g5 – Shiraz MV – three bottle set ($20,000-$30,000), an Armand Rousseau Chambertin collection (2005, 2009, 2015 – est. $25,000-$30,000) and 2012 Domaine G Roumier Grand Cru, Musigny ($20,000-$25,000).
The auction will be the first time Langton’s hosts a live auction event, and will be held at The Eveleigh at Sydney’s Australian Technology Park, where guests will enjoy a decadent three-course meal with matching premium wines from leading brands including Penfolds, Wynns and Bollinger.
All 200 tickets to the evening are already sold out, however, wine collectors from all over the world can take part in the auction via telephone bids.
“Our ambition is to be Australia’s leading luxury lifestyle retailer. We are elevating our luxury wine and wine spirits offering, and now offer wine lovers once in a lifetime wine experiences like this live auction,” Grischy said.
There are estimated to be around 40 bottles of the first vintage of Penfolds Grange in existence. This includes approximately 30 bottles that are part of complete sets of Penfolds Grange, which include all vintages of Penfolds Grange from 1951 to present day.