Nothing says swanky of the highest order quite like a bottle of Penfolds Grange. The much-loved Australian drop has become a stalwart of the taste-hungry, and for good reason. The premier release from one of the most well-respected wineries in the Southern Hemisphere, the Grange annual vintage is the hallmark of refined success and a favourite amongst wine collectors, one of whom has just walked away with arguably the most impressive lineup ever assembled. A stunning Penfolds Grange set, which includes every vintage release including the prized 1951 vintage has just sold for the outrageous sum of AUD$400,000.
With a final figure generally reserved for auction houses and collector circles, you’d be forgiven for thinking the recent sale came by way of Sotheby’s or Christie’s, but you’d be wrong. Remarkably, the Penfolds Grange set was sold through bottle shop Dan Murphy’s, with reports suggesting it is the largest individual purchase ever made at the alcohol retailer. So, just how did Dan Murphy’s manage to get such a lucrative product?
Apparently, through hard work and collective ingenuity. Best known for plugging six-packs and cheap wine, Dan Murphy’s managed to source individual bottles from each year of production, many of which were signed by Penfolds’ current chief winemaker Peter Gago. However, in what can only be described as a travesty of taste, Dan Murphy’s managing Director Alex Freudmann confirmed the set is an investment piece that isn’t likely to wet the lips of its proud new owner.
“The customer purchased the collection as an investment so he won’t be drinking the wines,” Freudmann told 9News. “However, Penfolds Grange sets are becoming rarer while their value keeps increasing, so he will be able to enjoy his purchase in other ways. This particular set is in excellent condition, and the Penfolds Grange 1951 which was the first vintage ever made of Australia’s most iconic wine – has been assessed at the re-corking clinic.”
From the outside, $400,000 for a Penfolds Grange set does seem steep, but it’s not as outlandish as first reactions may have suggested. Considering a single bottle of Penfolds Grange 1951 sold for AUD$157,000 in December 2021, the rest of the set could represent surprisingly high value for money, provided you find the right buyer. According to Freudmann, the sale marks the continuation of an emerging trend for wine and spirits investment, which is seeing more people put their money into physical assets, bucking the cryptocurrency movement.
“Due to lockdowns and record-low interest rates, many customers have had more savings in their bank than ever,” Freudmann said. “Many have chosen to go up the shelf and treat themselves to a bottle of Australia’s most iconic wine from the comfort of their home which is one reason why demand has soared, while some took their love of fine wine to the next level and started exploring Penfolds Grange as an investment.”
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