How many Classifications have there been?
Langton’s Classification of Australian Wine was first released in 1991. With the
release of the 2005 Classification there will have been four Classifications.
1991 Classification (I) – 34 Wines
1996 Classification (II) – 64 Wines
2000 Classification (III) – 89 Wines
2005 Classification (IV) – 101 Wines
How many wines are included in Langton’s 2005 Classification?
Langton’s 2005 Classification (IV) comprises 101 wines: 11 Exceptional, 22 Outstanding,
34 Excellent and 34 Distinguished.
How many wines from Langton’s 2000 Classification made it into the 2005 Classification?
67 wines from Langton’s 2000 Classification (III) of 89 wines are included in the
2005 Classification.
There are wines that have been relegated or dropped from the Classification.
Why?
The Classification is driven by current market sentiment. The 2005 Classification
of 101 wines is limited by Langton’s discretion. We recognise that some very fine
Australian wines are no longer classified. Some producers and collectors will be
disappointed. However the Classification ‘is what it is’. It was never meant to
entrench an order of things.
Why does Langton’s release a Classification?
Langton’s Classification was first released as a form guide for its clients. It
has become increasingly recognised by the secondary wine market as an ‘unofficial
honour roll’ of fine Australian wine. We continue to publish it because it remains
of genuine interest to the Australian fine wine market.
What are the Classification categories?
The Classification comprises four categories – Exceptional, Outstanding, Excellent
and Distinguished.
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Exceptional (11 wines): The most highly sought after and prized Australian
wines on the market.
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Outstanding (22 wines): Benchmark quality wines with a very strong market
following.
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Excellent (34 wines): High performing wines of exquisite quality achieving
slightly lower values and market strength.
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Distinguished (34 wines): Secondary market staples or emerging classics.
Sometimes undervalued by the market.
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What decides a wine’s listing in the Classification?
Inclusion in the Classification is an independent confirmation of a wine’s
status within the ever-growing Australian secondary wine market. Where a wine is
included in the Classification is dependent on the sale frequency, intensity and
sentiment surrounding its place in the market.
Brand definition, wine show medals and independent critical opinion are vectors
of sale success, particularly in the sub-premium and premium wine markets. Of course
there are many thousands of Australian wines. Of these only the 101 currently Classified
wines and about a further 120 Cult and Emerging wines are regularly traded in the
ultra-fine Australian wine market place.
What data does Langton’s use to formulate its Classification?
Langton’s formulates its Classification using data from its substantial database
of information going back to our first auction sales in the 1980s. Since 2002 our
online technology records bidding activity, price realizations and volume of wine
sold for all wines and vintages sold at Langton’s. We use this unprecedented Australian
wine data resource to compile our listings for the Classification.
What are the criteria for inclusion in the Classification?
The Classification works on the essential elements of track record and reputation,
both of which are measured through market presence, consistency, volume of demand
and price realisations. A wine must have 10 vintages made to be considered for the
Classification.
It is important to note that the Classification is not based on dollar appreciation
or wine investment potential.
Why has Langton’s Classification achieved recognition?
Langton’s Classification has achieved recognition because the criteria for inclusion
are objective and market-driven and the Classification is regularly revised and
updated. Market-driven criteria relate to value, consistency and volume of demand
in the market over at least 10 years.
The importance of the Classification lies in its authoritative independence and
the underlying idea of market participation rather than personal favouritism or
opinion. It challenges people throughout the world of fine wine to think about Australia’s
place and future in the ultra-fine wine market.
Has Langton’s Classification had an impact on the perception of Australian
wine?
Since its first release in 1991 Langton’s Classification has brought with it a new
confidence in quality Australian wine both in Australia and internationally and
the belief that Australia is able to make some of the world’s most exquisite wines.
What drives the Australian secondary wine market?
Langton’s Classification of Australian Wine does not propel the market. It is an
acknowledgement of achievement. The Australian secondary wine market can create
its own energy through perceptions of scarcity, reputation and performance.
While economic sentiment does come into play, the expectations of sellers and buyers
are also driven by the opinions of Australian and overseas wine critics, occasional
wine show results and strength of brand. The Classification embraces the mood of
the market and all its subsets. That’s its strength.
Who are the buyers and sellers?
The wine trade, wine producers, wine collectors and wine enthusiasts from every
conceivable demographic – most with a genuine love of fine wine.
Is the Classification a definitive guide to Australian wine?
Of course not. Nor does it pretend to be. It is compiled using data from the secondary
wine market. Non vintage wines – which include some of Australia’s great fortified
Muscats, Tokays and Tawnys – are not included. What’s more it does not differentiate
between vintages. Within the Classification there are a number of vintages that
are probably worth avoiding. The Classification is not conceived to recognise individual
or one-off vintages. The Australian Wine Show System and individual wine critics
provide such recognition through Wine Show medals or reviews.
If I want to invest in Australian wine should I take notice of the Classification?
To monitor the investment performance of fine Australian wines Langton’s produces
Langton’s Fine Wine Index based on a ‘basket’ of wines and vintages from the Classification.
Langton’s Fine Wine Index does give an indication of overall secondary wine market
performance.
The last five years has been a period of slow growth. While there are some individual
wines that have performed extremely well, Langton’s advises investors to keep well
away from the wine investment market unless they know what they are doing. Langton’s
Fine Wine Index can be viewed at Wine Tools/Wine Index on this site.
Where can I get detailed price data about the Classification wines?
Langton’s has a comprehensive database of almost half a million auction price realisations.
Collectors and wine enthusiasts are able to access this information completely free
of charge. You can access our price guide database at Wine Tools/Price Guide on
this site.
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Langton’s new 2005 Classification (IV) is available now in a 66cm x 99cm limited
collector’s edition art quality poster. Featuring all 101 classified wines, the
poster can be ordered from only AUD$15 from our Magazine by clicking on the Classification
Poster panel. |
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“In Australia there is no official classification of vineyards or wineries, although
one that is gaining ground among wine collectors, through both reputation and shrewd
marketing, is that of Langton’s Fine Wine Auctions.” Tim White, Australian Financial
Review |
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“The development of the Classification mirrors the growing interest in fine Australian
wine over the past decade. There is a clear need to focus the market by creating
and regularly updating a form guide - an order of things. It is a simple, straightforward
guide for anyone interested in drinking or investing in good Australian wine.” Andrew
Caillard MW, Langton’s Sydney Director |
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