Life Eat & Drink Rare Penfolds Grange collection sells for $230,000

Rare Penfolds Grange collection sells for $230,000

A rare full set of Penfolds Grange wine has sold in Adelaide for $230,000. Photo: Langton's
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A rare complete set of Penfolds Grange wine has gone under the hammer in Adelaide, selling for $230,000.

The set of 62 bottles, from the 1951 to 2012 vintages, included some signed by the Penfolds’ chief winemakers of the day.

Adding the auction costs and GST, the Adelaide couple who picked up the prized drop will pay about $260,000.

Auctioneer Marc du Plessis says there was keen interest in the rare offering with five serious bidders, including some bidding via the internet.

Mr du Plessis said he was pleased with the result despite it being less than originally expected.

He said the winning bidders plan to keep the wine “as an investment for their grandchildren” and may have scored a bargain.

“I think it will only go up in value,” he said with full sets only coming to market every 10 to 15 years.

A similar set in Melbourne was also sold for about $300,000 last year.

Penfolds Grange is considered a cornerstone of the Australian wine market and is officially heritage listed by the South Australian National Trust.

It has won numerous awards both nationally and internationally.

The 1951 Grange was legendary winemaker Max Schubert’s first vintage, with many of the bottles given away to friends.

But buyers now pay upwards of $50,000 to get their hands on a single bottle.