Blue-chip wines feature in the best Australian collections

Collectors’ knowledge is a crucial aspect of the halo effect. Their understanding of the brand’s story, winemaking techniques, and values is what enhances the reputation and desirability of the entire stable of wines.

Wines such as Henschke Hill of Grace, Penfolds Grange and Bin 700 and Mount Mary Quintet have maintained their position at the top table of Australian fine wine.

The Langtons Classification of Australian Wine is not just a list but a meticulous representation of the Australian fine wine market.

It is based on auction data collected between 2018 and 2023, including every bid, buy, sell, watch, and “passed in”. Owing to record trading volumes during this time, the 8th Edition is the most robust dataset ever used to build a Classification.

This new knowledge has also revealed clear and observable behaviour patterns by Australia’s fine wine collectors, providing a fascinating insight into the market.

A clear trend is a focus on established producers who trust the high standards of well-established wineries, playing a vital role in how collectors pursue fine wines. Note the most prominent names, Penfolds, Henschke, Mount Mary, Wendouree, and Leeuwin Estate, all have multiple entries in the Classification.

In the Classification, Langtons talks about “brand” to indicate where collectors place their trust. Brands are more than just the winery, the vineyards, or the label on the bottle. A winery’s brand combines the winemaker, vigneron, region and the winery’s place in it, heritage and, importantly, broader perceptions of the brand and a wine’s quality, rarity, price, and prestige.

Greatness or prestige in the wine industry is often associated with an established producer’s flagship or top-tier wine. Collectors and wine lovers recognise the quality of these wines, the unique terroirs, meticulous production processes, and storied histories. Collectors understand that these wines are the epitome of the brand’s craftsmanship and dedication to winemaking.

Think Rockford Basket Press Barossa Valley Shiraz, a cult, idiosyncratic wine with a distinct character and sense of place. These wines have a halo effect that positively influences the entire brand and stable of wines. This halo is apparent in the volumes and prices at which these elite wines trade, hence the premiums required to secure a bottle of Basket Press’s stablemate Rockford Black Sparkling Shiraz.

Collectors’ knowledge is a crucial aspect of the halo effect. Their understanding of the brand’s story, winemaking techniques, and values is what enhances the reputation and desirability of the entire stable of wines. A well-informed and loyal collector is a key player in this process.

Their appreciation of the efforts that go into producing the flagship and secondary wines ultimately drives the brand’s success. It’s all a matter of hard-earned trust.

There is a symbiotic relationship between the prestige flagship wine brand and its secondary wines. The reputation and desirability of the flagship wine positively influence the perception, trust, and consumer knowledge associated with the entire stable of wines.

The brand story enhances this effect, compelling collectors to dig deep into a portfolio of wines. The halo effect is why some top producers have multiple wines in the Classification.

The clearest early example of this behaviour in the Classification occurred at the turn of the last century. In 1996, Langtons published the 2nd Edition of its Classification of Australian Wines and introduced Wendouree Shiraz in a banner edition for Clare Valley wines.

In 2000, the 3rd Edition of the Classification listed all five wines from Wendouree and placed their flagship Shiraz in the top tier, where it remains in this latest edition.

The halo effect is not unlike that of the second wine appeal of the great chateaux of Bordeaux. These second wines imply a guarantee of quality by wearing the livery of the grand vin of the château. The appeal of second and third wines is that they often give a certain proximity to greatness without the flagship price.

Penfolds Bin 389 is a case in point. Roguishly known as “Baby Grange”, Bin 389 is close to a tenth of the price of the big guy. Penfolds high standards in winemaking and privileged access to the most premium South Australian fruit is writ large in the wine in every vintage.

Bin 389 never misses in glass and is bulletproof in the cellar. Taking decades in its stride, Bin 389 has been the most traded wine by volume at auction in the current edition of the Langtons Classification.

Quality over time plus rarity is a recipe for success. The annual scrabble for minuscule make, allocated wines on release day sends collectors stampeding to auction to get their hands on these rare treasures, including Rockford Basket Press, Mount Mary Pinot Noir, Henschke Hill of Grace, Bass Philip, Bindi and many more. However, the wine of the moment is that beacon of Beechworth, Giaconda Chardonnay.

The Langtons Classification tasting event series will return in September and October 2024 in Perth, Adelaide, Brisbane, and Sydney and finish in Melbourne. This is a rare chance to meet winemakers and taste rare wines from Australia’s finest producers.

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Learn more about Langtons Classification event series here.

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