Luxe Sydney wine auction set to make history with a rare bottle of Penfolds Grange

A luxe wine auction in Sydney is set to make history with a rare bottle of Penfolds Grange selling for over $30k a glass. Here’s how to get started on your collection of “liquid gold”.

A luxe wine auction in Sydney is set to make history with a rare bottle of Penfolds Grange selling for over $30k a glass.

Fine wine retailer Langton is hosting a glitzy wine auction on Thursday, where a bottle of one of Australia’s most famous wines, Penfolds Grange Hermitage from its first ever vintage is set to break records and sell for over $150k.

It’s estimated there are about 40 bottles of the Penfolds Grange Hermitage Bin 1 Shiraz 1951 in existence.

In December, a bottle of the wine went under the hammer at an online auction and sold for $157,624 making it the most expensive bottle of Australian wine ever sold.

It’s predicted the auction, held at The Eveleigh on Thursday evening will draw even higher bids. Online, the current bid for the wine is close to $130,000. Other wines on offer on the night include a 1990 bottle of Cristal, estimated to be worth $20k.

1951 Penfolds Grange – one of Australia’s rarest wines. Picture: Supplied

Managing director of fine wine retailer Langton’s Tamara Grischy Langton with the wine in question. Picture: Supplied/Endeavour Drinks

Langton’s General Manager Tamara Grischy said the Penfolds wine was “liquid gold.”

“What we know about our wine collectors is that they are an eclectic group but all who love the finest things in the world,” she said.

Ms Grischy describes the rare Penfolds Grange as “liquid gold”, and collectors as an “eclectic” bunch. Picture: Aaron Francis / The Australian

“Some will store wine like a piece of art. But in the past when we’ve sold a 1951 Grange we stored it for our client for a year, before one day they called to collect it so they could drink it.”

The auction event itself has also turned into a spectacle, with 80 per cent of the $295 tickets sold out before launch by wine brokers and then those remaining sold out within the week.

Grischy said she has been overwhelmed by the demand to attend the event and said it confirmed that clients enjoy the high stakes environment of a live auction.

Some of the 200 VIP guests in attendance including Penfolds Senior Winemaker Steph Dutton and Master of Wine Ned Goodwin.

Penfolds G Series Shiraz, South Australia MV 3-Bottle set. Picture: Supplied

Guests will be treated to a three-course meal from The Grounds of Alexandria with matching premium wines from leading brands including Penfolds, Wynns and Bollinger, all costing over $100 a bottle.

However for those of us not spending $150,000 on a wine, Grischy has some advice. Start becoming a collector now. The 1980s Penfolds Bin 389 cost approximately $16 a bottle but is now worth around $180.

“We are so fortunate in Australia we have some great wines at the $50 mark that we know will increase in value, you just have to sit on it and give it time,” she said.

“Or you can enjoy it now. That’s the best thing about wine, you never lose!”