Auctions

New Record Auction Price For 1951 Grange

Penfolds: Rewards of Patience auction
New record auction price for 1951 Grange

Penfolds Grange 1951 has set a new record auction price of $78,000 for a single (750ml) bottle of Australian wine. The previous record of $59,416, was set in December last year.

The wine was bought by an anonymous bidder at Langton’s Penfolds: The Rewards of Patience auction, which closed on Sunday June 24.

The inaugural 1951 Grange was an experimental wine that was never commercially released. Only five hogsheads (1500 litres or 2000 bottles) were made and much of it was given away by its creator, the late Max Schubert.

“ Grange is an Australian icon, renowned all over the world, but this auction had something for everyone... ”
–Tamara Grischy, Langton’s Head of Auctions

Penfolds Grange 1951 Sets Record
Today 1951 Grange is generally agreed to mark the beginning of modern Australian red winemaking. Somewhere between 20 and 30 bottles remain in existence and are valued more for their significance and rarity than their intrinsic quality.

Other auction price record-breakers included a bottle of 1958 Grange Bin 46, which sold for $19,340 (last sale $17,475) and an imperial (six litres) of 1975 Grange which achieved $40,310, more than $11,000 up on the previous record.

A complete set of Grange - 62 bottles from 1951 to 2013 - sold for $308,725, down on the previous record of $332,608 set late last year.

Langton’s Head of Auctions, Tamara Grischy, said the auction results demonstrated how strongly Penfolds wines continued to pique the interest of both drinkers and collectors.

She said: “Grange is an Australian icon, renowned all over the world, but this auction had something for everyone - $10 bottles, exceptional vintages signed by Max Schubert and a few very special bottles like the 1951 Grange.”

Penfolds has 10 wines in the current Langton’s Classification of Australian Wine and Grange, the Penfolds flagship, has headed the ‘Exceptional’ category of all six editions of the Classification since its inception in 1990.

Classification VII will be launched in September this year and the value of purchases of any Langton’s Classified wines - at auction, online or via your broker -- count towards entries in our Classification VII competition.

You could win a truly ‘Exceptional’ cellar*, including bottles of Penfolds Bin 95 Grange Shiraz and Bin 707 Cabernet Sauvignon - and a 110 bottle Vintec wine cooling cabinet to store them in. Total prize value is more than $10,000. Enter the competition and view the full terms & conditions.

All prices include buyer’s premium.

Langton's holds more than 250
fine wine auctions every year,
closing every Tuesday, Thursday and Sunday.


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