A set of Penfolds Grange from 1951 to 2015 has just been sold for $372,800 in the Langton’s Rewards of Patience Auction, a world record amount.
The complete set of 65 vintages was purchased by an Australian collector.
The previous record was for a Penfolds Grange set from 1951 to 2014 which sold for $349,500.
“We’ve seen fewer and fewer of Penfolds Grange sets on the markets, and the collectors are certainly looking for them, so watch this space – I’m sure the demand will keep going up,” said Jeremy Parham, general manager of Langton’s.
“Every set is unique and has its own unique value depending on its condition and provenance. This was a super set that was in perfect condition, so I’m not surprised about the result,” he added.
Two rare bottles of the first-ever vintage of Penfolds Grange from 1951 sold for over $81,000 each, which is also a record. One bottle of the 1951 Penfolds has previously sold for $80,000.
“It’s rare to have one, let alone two bottles of this historic vintage in the auction, and for both bottles to fetch this price is absolutely sensational,” said Tamara Grischy, head of auctions at Langton’s.
“It is believed there are less than 20 bottles in circulation, and the 1951 Penfolds Grange is coveted among collectors who want to have a complete set.
“This wine truly represents the beginning of modern Australian wine, as Penfolds Grange has put Australia on the world map of fine wine,” she explained.