40 of Australia's most expensive wines sell for $114k
There's an 'increasingly passionate race among wine collectors for the dwindling remnants of Australian ultra-fine wine heritage,' say auctioneers
A collection spanning 40 vintages of Australia's most expensive wine has sold for A$138,000 ($144,000) at auction, according to Bloomberg.
The Penfolds Grange assortment included every year from the 1951 debut to the 1990 vintage, which became the first wine from outside of France or California to be named Wine Spectator magazine's Wine of the Year.
A single bottle of the 1951 Grange sold separately for A$43,700, Langton's auctioneers said in a statement.
Grange is made using shiraz grapes from South Australia and techniques learned from Bordeaux, and was developed by former Penfolds winemaker Max Schubert.
New Grange releases are aged for five years before commercial sale, and are normally sold by retailers for $500 a bottle.
According to Langton's, the auction results show that Australia's ultra-fine wine markets are bouyant and thriving for collectors and investors.
"These [auction] prices illustrate an increasingly passionate race among wine collectors for the dwindling remnants of Australian ultra-fine wine heritage," auctioneer Stewart Langton said in the statement.
"This year we have seen prices for Australian wine rarities hit the roof."
Only 160 cases of the 1951 were made, packed in hand-blown bottles, before Schubert died in 1994.
Another standout from the auction included a record sale of A$8,100 for a bottle of 1957 St. Henri.
A bottle of 1956 Grange sold for A$12,100. It is known as one of the three "hidden" vintages, because Schubert kept making the wine in secret after Penfolds' management told him to stop.
The winning bidder for the St. Henri was reportedly an anonymous London-based hedge fund manager.