We’re living in a modern era in which hyper-wealthy men and women are purchasing ultra-rare and pricey cars only to sit in the garage, cigars only to never be smoked and wine only to never be drunk. Some see it as an investment, a collectable or simply a sign of status.
Penfolds is a distinguished and proudly Australian wine producer founded in 1844. It is one of the oldest wineries in Australia and has a rich history of producing some of the highest quality wine in the world.
A record transaction took place at a Dan Murphy’s in Melbourne earlier this year, where an unknown buyer paid $400,000 for every bottle of Vintage Penfolds Grange since 1951. According to Dan Murphy’s Director Alex Freudmann, the collection is in “excellent condition.” This cashed-up buyer isn’t expected to pour a glass anytime soon but rather store it as a collectable/investment.
For reference, a bottle of Penfolds Grange ’51 sold for a record $157,000 in December 2021.
“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,” Freudmann told New Corp.
“The customer purchased the collection as an investment, so he won’t be drinking the wines. However, Penfolds Grange sets are becoming rarer while their value keeps increasing, so he will be able to enjoy his purchase in other ways.”
The last time Dan Murphy’s sold a Penfolds set was in 2018 for $320,000, meaning the price for sets has increased by 25 per cent for the drink’s retailer.
“There are only a few dozen of the 1951 Penfolds Grange bottles in circulation, and this vintage is particularly coveted among collectors to complete a set,” Freudmann told News Corp.
It comes after approximately one year prior, a bottle of The Macallan 72 Years Old in Lalique sold for $150,000 in Dan Murphy’s Double Bay to a local buyer.