Current and historical values paid at auction for Penfolds Grange in Australia as at December 2018
Penfolds Grange, also labeled as Penfolds Grange Hermitage until the 1989 vintage, is one of Australia’s most valuable wines and its price can vary depending on the vintage (not the bottled date), the bin number, the condition of the bottle and how well the bottle has been stored (known as its provenance).
It trades at auction frequently and the prices can change over time, although retail prices have been leading auction prices now since the late 1990’s.
Warning on price perception
Grange sells for a very different value at auction (the secondary market) compared to retail (all wine is valued differently at auction) and, unless you are a retailer with all the associated overheads, you cannot expect to buy and sell at the same price point. When it comes time to sell your Grange the only available market for a private seller is via auction and therefore retail and other prices that can often be quoted in the media are exaggerations of the real value.
The prices below are collected and averaged from the four leading wine auction houses in Australia on a monthly basis.
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Valid January 2017
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| Wine Name | Vintage | Low or Average | High | Notes |
|---|---|---|---|---|
| Penfolds Bin 95 Grange Shiraz (2018 Release) | 2014 | $520 | $900 | Released in October 2018. Grange itself rose by 6% from AUD $850 to AUD $900. Less formidable than past years. 2014 was an erratic season with heat spikes and rain events, saved by cooler conditions from mid-autumn. This is consequently no blockbuster Grange |
| Penfolds Bin 95 Grange Shiraz (2017 Release) | 2013 | $550 | $700 | Released in October 2017. |
| Penfolds Bin 95 Grange Shiraz (2016 Release) | 2012 | $550 | $600 | Released in October 2016. Estimated values only. As with any wine on release the auction value sits around 40% less than the estimated retail price (unknown as yet) and may increase as further information about the release is collected. |
| Penfolds Bin 95 Grange Shiraz (October 2015 Release) | 2011 | $530 | $600 | Released Oct 2015. The 2011 vintage was a poor year with low yields. Very little of the usual marketing hype accompanied this release. Don’t be surprised if it dips below $400 within a year or so of release. |
| Penfolds Bin 95 Grange Shiraz (October 2014 Release) | 2010 | $585 | $600 | Released in October 2014. This is the first time that Grange has been released at this time of year. It is unlikely that this tactic will result in any extra premium being paid for it in the medium term. |
| Penfolds Bin 95 Grange Shiraz (May 2014 Release) | 2009 | $500 | $600 | Released in May 2014.Very few bottles have come to auction. Expect to receive between $580 and $600, dropping off as the 2010 is released in October 2014. |
| Penfolds Bin 95 Grange Shiraz | 2008 | $600 | $700 | Released on May the 2nd 2013. Penfolds launched with a controversial RRP at $785, citing high demand in Asia as a reason why they dramatically increased the price just prior to release. Within the year it has been trading at auction between $500 to $650. |
| Penfolds Bin 95 Grange Shiraz | 2007 | $400 | $510 | This was released on the 3rd of May 2012. Retailers in Australia were discounting as low as $490 with a RRP of $625. During 2012 it traded on the Australian secondary market in the range between $320 to $420. |
| Penfolds Bin 95 Grange Shiraz | 2006 | $500 | $600 | Retail release price around $599 |
| Penfolds Bin 95 Grange Shiraz | 2005 | $400 | $460 | |
| Penfolds Bin 95 Grange Shiraz | 2004 | $440 | $470 | |
| Penfolds Bin 95 Grange Shiraz | 2003 | $375 | $440 | |
| Penfolds Bin 95 Grange Shiraz | 2002 | $390 | $480 | Retail release price around $500 |
| Penfolds Bin 95 Grange Shiraz | 2001 | $365 | $460 | |
| Penfolds Bin 95 Grange Shiraz | 2000 | $390 | $440 | |
| Penfolds Bin 95 Grange Shiraz | 1999 | $375 | $450 | |
| Penfolds Bin 95 Grange Shiraz | 1998 | $510 | $600 | |
| Penfolds Bin 95 Grange Shiraz | 1997 | $335 | $390 | |
| Penfolds Bin 95 Grange Shiraz | 1996 | $450 | $610 | |
| Penfolds Bin 95 Grange Shiraz | 1995 | $340 | $390 | |
| Penfolds Bin 95 Grange Shiraz | 1994 | $375 | $410 | Laser etching of the bottles introduced. |
| Penfolds Bin 95 Grange Shiraz | 1993 | $370 | $410 | |
| Penfolds Bin 95 Grange Shiraz | 1992 | $350 | $440 | |
| Penfolds Bin 95 Grange Shiraz | 1991 | $445 | $540 | Release price around $140 |
| Penfolds Bin 95 Grange Shiraz | 1990 | $515 | $600 | An outstanding vintage. Retail release price at $130 – $140. |
| Penfolds Bin 95 Grange Hermitage | 1989 | $400 | $450 | Release price $110 |
| Penfolds Bin 95 Grange Hermitage | 1988 | $400 | $450 | |
| Penfolds Bin 95 Grange Hermitage | 1987 | $400 | $450 | |
| Penfolds Bin 95 Grange Hermitage | 1986 | $600 | $700 | Retail release price around $85. |
| Penfolds Bin 95 Grange Hermitage | 1985 | $350 | $520 | |
| Penfolds Bin 95 Grange Hermitage | 1984 | $340 | $380 | |
| Penfolds Bin 95 Grange Hermitage | 1983 | $390 | $500 | Retail release price around $50 – $60 |
| Penfolds Bin 95 Grange Hermitage | 1982 | $330 | $380 | |
| Penfolds Bin 95 Grange Hermitage | 1981 | $360 | $480 | |
| Penfolds Bin 95 Grange Hermitage | 1980 | $335 | $400 | |
| Penfolds Bin 95 Grange Hermitage | 1979 | $350 | $460 | The last vintage to use the white foil capsules |
| Penfolds Bin 95 Grange Hermitage | 1978 | $340 | $520 | Release price around $27.50 |
| Penfolds Bin 95 Grange Hermitage | 1977 | $350 | $440 | |
| Penfolds Bin 95 Grange Hermitage | 1976 | $800 | $1,000 | The first Australian wine to be released over $20. |
| Penfolds Bin 95 Grange Hermitage | 1975 | $410 | $600 | Retail price around $15 |
| Penfolds Bin 95 Grange Hermitage | 1974 | $450 | $500 | Retail price around $13 |
| Penfolds Bin 95 Grange Hermitage | 1973 | $320 | $380 | Retail price around $12 |
| Penfolds Bin 95 Grange Hermitage | 1972 | $385 | $450 | A quantity of this vintage was accidentally oxidised during bottling, hence the lower market value of the russian roulette vintage. Release price around $12 |
| Penfolds Bin 95 Grange Hermitage | 1971 | $700 | $1,100 | One of the great Grange vintages. For many years this vintage set the standard. Retail release price around $10 |
| Penfolds Bin 95 Grange Hermitage | 1970 | $350 | $580 | Bin numbering for Grange was standardised with the 1970 vintage. |
| Penfolds Bin 95 Grange Hermitage | 1969 | $500 | $700 | |
| Penfolds Bin 95 Grange Hermitage | 1968 | $550 | $700 | |
| Penfolds Bin 95 Grange Hermitage | 1967 | $610 | $850 | |
| Penfolds Bin 95 Grange Hermitage | 1966 | $1,000 | $1,300 | |
| Penfolds Bin 95 Grange Hermitage | 1965 | $540 | $680 | |
| Penfolds Bin 95 Grange Hermitage | 1964 | $1,200 | $1,700 | |
| Penfolds Bin 65 Grange Hermitage | 1963 | $1,400 | $1,800 | |
| Penfolds Bin 95 Grange Hermitage | 1963 | $1,200 | $1,500 | |
| Penfolds Bin 95 Grange Hermitage | 1962 | $1,650 | $1,800 | |
| Penfolds Bin 95 Grange Hermitage | 1961 | $1,600 | $3,000 | |
| Penfolds Bin 395 Grange Hermitage | 1961 | $700 | $900 | |
| Penfolds Bin 95 Grange Hermitage | 1960 | $1,400 | $1,800 | Retail price of approx. $1.75 |
| Penfolds Bin 46 Grange Hermitage | 1960 | $800 | $1,050 | |
| Penfolds Bin 49 Grange Hermitage | 1960 | $1,200 | $2,200 | Grange production officially resumes. |
| Penfolds Bin 95 Grange Hermitage | 1959 | $1,700 | $2,400 | |
| Penfolds Bin 46 Grange Hermitage | 1959 | $2,200 | $3,100 | Last of the 3 hidden granges |
| Penfolds Bin 49 Grange Hermitage | 1959 | $2,000 | $2,600 | |
| Penfolds Bin 95 Grange Hermitage | 1958 | $3,900 | $4,000 | |
| Penfolds Bin 46 Grange Hermitage | 1958 | $14,000 | $18,000 | Second of the hidden Granges |
| Penfolds Bin 47 Grange Hermitage | 1958 | $10,000 | $12,600 | |
| Penfolds Bin 50 Grange Hermitage | 1957 | $12,000 | $16,000 | |
| Penfolds Bin 113 Grange Hermitage | 1957 | $8,100 | $10,200 | First of the hidden, secretly produced Granges |
| Penfolds Bin 53 Grange Hermitage | 1956 | $15,000 | $17,000 | |
| Penfolds Bin 14 Grange Hermitage | 1956 | $8,000 | $10,100 | |
| Penfolds Bin 14 Grange Hermitage | 1955 | $2,400 | $3,300 | One of the most highly decorated of all Granges which eventually vindicated Max Schubert. |
| Penfolds Bin 95 Grange Hermitage | 1955 | $3,000 | $4,000 | |
| Penfolds Bin 148A Grange Hermitage | 1955 | $2,000 | $2,400 | |
| Penfolds Bin 13 Grange Hermitage | 1955 | $1,800 | $2,500 | |
| Penfolds Bin 12 Grange Hermitage | 1954 | $14,000 | $18,000 | |
| Penfolds Bin 11 Grange Hermitage | 1954 | $9,500 | $11,900 | Internal criticism led to a lighter style. Approx. 9 months in oak. |
| Penfolds Bin 145 Grange Hermitage Cabernet | 1953 | $15,200 | $16,900 | |
| Penfolds Bin 9 Grange Cabernet | 1953 | $12,000 | $14,000 | |
| Penfolds Bin 86C Grange Hermitage | 1953 | $15,000 | $20,000 | |
| Penfolds Bin 10 Grange Hermitage | 1953 | $12,000 | $14,000 | |
| Penfolds Bin 2 Grange Hermitage | 1953 | $13,000 | $15,000 | First vintage to use grapes from the Kalimna vineyard. |
| Penfolds Bin 4 Grange Hermitage | 1952 | $16,000 | $21,000 | |
| Penfolds Bin 1 Grange Hermitage | 1952 | $16,500 | $16,600 | First commercial release. Retail release price less than $1 |
| Penfolds Bin 1 Grange Hermitage | 1951 | $38,000 | $60,000 | First Vintage. An experimental wine that was not commercially released. Only 160 cases were made. |
Values have been aggregated from national secondary market data for Australia.
Notes on pricing and valuations
Low Range
Typically, price clusters form over time at market value. The low value is then calculated from the average accumulated hammer price at auction from multiple Australian wine auction houses over a 6 month period. All prices are for bottles with no damage or ullage. Well stored bottles with a documented purchase and storage history will always attract the best prices.
High Range
High prices are typically outliers or record high values achieved over a long period of time and,typically, includes only a very low sample of bottles sold, never the average and most often only a single bottle.
Last sale
This figure is not shown, as using it in isolation can produce a false sense of the true value of a bottle.
A note on auction reserves
All auction houses generally set a reserve price 10% less than the low price range. This allows for fluctuations of the market price going down as well as up.
Article attributed to M. Wickman