Langton's Market Update: July - August 2015
Monday, September 28, 2015 in News
Penfolds led the way – as usual.
Two new price records were set – $5245 for the inaugural 1964 vintage of Bin 707 Cabernet Sauvignon (previously $1406, paid in 2012) and $1282 for 1971 Grange, no doubt reflecting its newly re-confirmed status as arguably the world’s very best wine of that decade.
Rockford is also running hot.
This is a much-loved label, from the unique and charming Alicante Bouchet Rosé to the elegant, sparkling Black Shiraz and the audacious Basket Press Shiraz, which sits with the two Penfolds wines in the highest – ‘Exceptional’ – tier of the Langton’s Classification.
Two vintages of Basket Press set new records – the 1990 ($234) and the 1998 ($186) – clearly confirming this great Barossa Shiraz as a firm favourite of the secondary market.
Our highest clearance rates (around 90 per cent) were for three single vendor collection auctions.
Our clients seek out – and pay a premium for – outstanding provenance. This is evidenced by the price of $1295 (against $1035 paid in 2011) for 1954 Wynns Coonawarra Estate Cabernet Sauvignon, and $642 (against $362, paid in 2014) for the 1960. This is the wine better known as Black Label Cabernet.
Penfolds Grange Shiraz 1986 went for $919 (last price $619 in August 2015) and Henschke Hill of Grace Shiraz 1998 for $586.
Another highlight was the extraordinary results obtained at the two James Halliday Wine Companion Awards auctions, underlining Halliday’s unchallenged status as Australia’s most influential wine commentator.
Most striking was the 10-fold price increase obtained by the 2016 Halliday Wine of the Year, Tom and Nadège Carson’s Serrat Close Planted Yarra Valley Shiraz Viognier 2014: retail price $42; auction
price $466. The buzz around this wine and its maker continues to develop.
Large format bottles attracted strong support – reflecting their cellaring and therefore perceived investment potential, as well as the impact they have when served at important events.
Here are some results obtained for imperials (six-litre bottles), equivalent to eight normal bottles:
- Penfolds Grange Shiraz 1975 – $29,125;
- Henschke Hill of Grace Shiraz 1998 – $12,816;
- Henschke Hill of Grace Shiraz 1990 – $10,718;
- Henschke Hill of Grace Shiraz 2001 – $10,718.
We also found a buyer for a ‘primat’ – 27 litres – of Langmeil The 1843 Freedom Shiraz 2006 – the biggest single bottle of wine we have ever sold.
Other top prices;
- Penfolds Grange Shiraz, set of 60 vintages 1951-2010 – $182,905;
- Wynns Coonawarra Estate John Riddoch Cabernet Sauvignon 1982 – $616;
- Penfolds St. Henri Shiraz 1970 – $378;
- Penfolds Bin 389 Cabernet Shiraz 1973 – $327;
- Chris Ringland Dry Grown Barossa Ranges Shiraz 2007 – $758;
- Domaine de la Romanée Conti La Tâche 2004 (magnum) – $6,058;
- Chateau d’Yquem Sauternes 1990 (magnum) – $1286.
Prices include buyer’s premium and are per 750ml bottle, unless noted.