Almost 2,000 bottles of Penfolds are going under the hammer this week as part of fine wine retailer Langton’s Rewards of Patience Auction; the world’s largest auction devoted exclusively to Penfolds.
One of the more sought-after items in the online auction is a set of Penfolds Grange from 1951 to 2014.
The set is expected to break the Langton’s record of a Penfolds Grange set from 1951 to 2013 that sold for $349,500 at the auction in June 2018.
“In 1995, I remember selling a set for $30,000. As the Penfolds brand has continued to evolve and become one of the biggest wine brands in the world, the demand keeps increasing,” said Tamara Grischy, head of auctions at Langton’s.
Tamara Grischy with a 1951 Penfolds Grange
Two bottles of 1951 Penfolds Grange – which is the first vintage of the wine – are among the wines being auctioned off and are expected to sell for over $70,000 each.
“It’s very rare to see one bottle, let alone two, of the first Grange, which was a wine that Penfolds first chief winemaker Max Schubert made 68 years ago as an experiment. Both bottles are in amazing condition, and have outstanding provenance,” Grischy said.
“This is a historic vintage, and represents the beginning of modern Australian wine. It is believed there are less than 20 bottles in circulation,” she added.
The auction is in its 23rd year and takes place every six months and will start on Tuesday 10th December at 5pm, and will close Sunday the 15th December at 7pm.
“There’s always a mad rush of bidding in the last 30 minutes, so if you’re after a specific wine, make sure you’re alert on Sunday evening,” Grischy advised.
Other Penfolds wines of note in this week’s auction are a 1963 St Henri, 1965 Penfolds Bin 389 and 1971 Penfolds Bin 389.
Although many bidders are collectors, Grischy said the Rewards of Patience Auction is a good way for novices or great value wine seekers to get their hands on one of Australia’s most sought-after wine brands.
“You might be able to snap up a lovely Penfolds Bin for under $30. For under $60, you can probably get a Penfolds 1998 Kalimna Bin 28 Shiraz,” she said.
It’s drinking beautifully at the moment, and can even be a nice first bottle to start your collection with.”
For novice collectors, Grischy said that research and patience are the secrets to success.
“Make sure to buy the best vintages of any wine, and be certain of provenance – buy through a trusted retailer or auction house,” she said.
“If you’re planning on starting a collection, make sure to store your wine correctly and get insurance if your wine is super premium. 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.”
Head to the Langton’s Penfolds Rewards of Patience Auction on www.langtons.com.au.
