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New records set at 2017 Langton’s Penfolds Auction

 

Other than Penfolds, is there another wine company in the world that can better justify an annual auction restricted entirely to products under its own label?

We don’t believe so. We certainly don’t know of another.

Penfolds is unique in the range and depth – more than 60 vintages – of wine styles, both white and red, and the huge range of price-points at which it has experienced success, originally in Australia, and now around the world.

Our annual Penfolds Auction – this year’s took place late last month – is always a major event on the calendar, and 2017 was no exception.

More than 1280 lots were offered and hot demand led to an 83% clearance rate at an average per-bottle price of $257. The Penfolds market is and remains upbeat.

‘There is no other Australian wine company with such a portfolio of great vintages’, says Langton’s co-founder Andrew Caillard MW.

‘In the auction world Penfolds has as much currency and market prestige as Chateau Latour or Chateau Lafite. The only difference is that it has wider and more democratic appeal. Penfolds is for everyone’.

Here are some of the auction highlights…

  • Most hotly contested lot: Bin 747 Dry Red, South Australia 1973 – estimate $90-$120, final price $426. (Bin 747 was not long in the portfolio, but it was no doubt named by the same aeronautically-minded Penfolds marketing man who gave Bin 707 Cabernet Sauvignon its name.)
  • Great value: Kalimna Bin 28 Shiraz, South Australia 2008 – $33 per bottle.
  • New record auction price for the Jimmy Watson Trophy winning 1965 Grange – over $1900 (previously $1650).
  • Heated demand for early 50s Granges as bottles become harder to find. Bin 9A Grange Cabernet Shiraz 1953 – $20,970
  • Grange 1985, Imperial (six litres) – $13,980.
  • New record auction price for Bin 60A Coonawarra Cabernet-Kalimna Shiraz 1962 – $10,485 (previously $9000).
  • Grange 1979, Magnum (1500ml) – $1463.
  • Importance of label quality: Grange 1967 (both topped up at Penfolds Recorking Clinics) – with ‘good’ label, $1526, with ‘excellent’ label, $2564.
  • St. Henri Shiraz 2010 (100 points) – $210+
  • New record auction price for 1998 Grange – $738 (previously $634).

All prices quoted include buyer’s premium.

For full results please go to langtons.com.au

 

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