Definitive Guide to Penfolds Grange and Grange Hermitage Prices

Detailed Pricing for Each Vintage of Australia's Iconic Penfolds Grange and Grange Hermitage

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.

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Grange Pricing

The prices below are collected and averaged from the four leading wine auction houses in Australia on a regular basis, please contact us directly for the latest values.

Valid October 2023

Wine Name	Vintage	Low-High	Bottle Size
Penfolds Grange (more info)	2019	$750 - $1,000	Bottle	SELL	Pre-Release retail price slightly above $1,000 and expected to pop up at auction for around $750 to start with.
Penfolds Grange Bin 95 Shiraz	2018	$650 - $800	Bottle	SELL	Released August 2022 and retailing for just shy of $1,000 still.
Penfolds Grange Bin 95 Shiraz	2017	$600 - $690	Bottle	SELL
Penfolds Grange Bin 95 Shiraz	2016	$630 - $860	Bottle	SELL
Penfolds Grange Bin 95 Shiraz	2015	$650 - $850	Bottle	SELL	Released August 2019 for $900.
Penfolds Grange Bin 95 Shiraz	2014	$600 - $800	Bottle	SELL	Released October 2018 for $900. Initially all new releases will drop in price at auction if they are still available to the retail market.
Penfolds Bin 95 Grange Shiraz	2013	$590 - $700	Bottle	SELL	Released October 2017 for around $850. Although a good Grange it is not as good as the 2012. Its price at auction reflects this. Recently (September 2018) selling for $585 with market pressure pushing it downwards coming up to the 2014 vintage release.
Penfolds Bin 95 Grange Shiraz (October 2016 Release)	2012	$650 - $750	Bottle	SELL	Released in October 2016. A excellent Grange. The quality of this vintage will reflect in the price paid for it over time.
Penfolds Bin 95 Grange Shiraz (October 2015 Release)	2011	$500 - $600	Bottle	SELL	Released October 2015. The 2011 vintage was a poor year with low yields. Very little of the usual marketing hype accompanied this release.
Penfolds Bin 95 Grange Shiraz (October 2014 Release)	2010	$540 - $600	Bottle	SELL	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	Bottle	SELL	Released in May 2014.Very few bottles have come to auction.
Penfolds Bin 95 Grange Shiraz	2008	$580 - $700	Bottle	SELL	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 was trading at auction between $500 to $650.
Penfolds Bin 95 Grange Shiraz	2007	$490 - $570	Bottle	SELL	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	$700 - $860	Bottle	SELL	Retail release price around $599
Penfolds Bin 95 Grange Shiraz	2005	$610 - $750	Bottle	SELL
Penfolds Bin 95 Grange Shiraz	2004	$630 - $750	Bottle	SELL
Penfolds Bin 95 Grange Shiraz	2003	$690 - $750	Bottle	SELL
Penfolds Bin 95 Grange Shiraz	2002	$550 - $650	Bottle	SELL	Retail release price around $500
Penfolds Bin 95 Grange Shiraz	2001	$700 - $600	Bottle	SELL
Penfolds Bin 95 Grange Shiraz	2000	$580 - $670	Bottle	SELL
Penfolds Bin 95 Grange Shiraz	1999	$580 - $690	Bottle	SELL
Penfolds Bin 95 Grange Shiraz	1998	$730 - $890	Bottle	SELL
Penfolds Bin 95 Grange Shiraz	1997	$520 - $690	Bottle	SELL
Penfolds Bin 95 Grange Shiraz	1996	$690 - $870	Bottle	SELL
Penfolds Bin 95 Grange Shiraz	1995	$500 - $750	Bottle	SELL
Penfolds Bin 95 Grange Shiraz	1994	$650 - $800	Bottle	SELL	Laser etching of the bottles introduced.
Penfolds Bin 95 Grange Shiraz	1993	$510 - $700	Bottle	SELL
Penfolds Bin 95 Grange Shiraz	1992	$550 - $690	Bottle	SELL
Penfolds Bin 95 Grange Shiraz	1991	$560 - $700	Bottle	SELL	Release price around $140
Penfolds Bin 95 Grange Shiraz	1990	$700 - $900	Bottle	SELL	An outstanding vintage. Retail release price at $130 - $140.
Penfolds Bin 95 Grange Hermitage	1989	$550 - $650	Bottle	SELL	Release price $110
Penfolds Bin 95 Grange Hermitage	1988	$500 - $680	Bottle	SELL
Penfolds Bin 95 Grange Hermitage	1987	$580 - $690	Bottle	SELL
Penfolds Bin 95 Grange Hermitage	1986	$780 - $900	Bottle	SELL	Retail release price around $85.
Penfolds Bin 95 Grange Hermitage	1985	$680 - $700	Bottle	SELL
Penfolds Bin 95 Grange Hermitage	1984	$480 - $650	Bottle	SELL
Penfolds Bin 95 Grange Hermitage	1983	$650 - $800	Bottle	SELL	Retail release price around $50 - $60
Penfolds Bin 95 Grange Hermitage	1982	$700 - $1,100	Bottle	SELL
Penfolds Bin 95 Grange Hermitage	1981	$700 - $900	Bottle	SELL
Penfolds Bin 95 Grange Hermitage	1980	$500 - $600	Bottle	SELL
Penfolds Bin 95 Grange Hermitage	1979	$450 - $600	Bottle	SELL	The last vintage to use the white foil capsules
Penfolds Bin 95 Grange Hermitage	1978	$500 - $600	Bottle	SELL	Release price around $27.50
Penfolds Bin 95 Grange Hermitage	1977	$510 - $720	Bottle	SELL
Penfolds Bin 95 Grange Hermitage	1976	$1,000 - $1,600	Bottle	SELL	The first Australian wine to be released over $20. Top auction prices paid for excellent condition.
Penfolds Bin 95 Grange Hermitage	1975	$700 - $900	Bottle	SELL	Retail price around $15
Penfolds Bin 95 Grange Hermitage	1974	$1,200 - $3,000	Bottle	SELL	Retail price around $13
Penfolds Bin 95 Grange Hermitage	1973	$700 - $900	Bottle	SELL	Retail price around $12
Penfolds Bin 95 Grange Hermitage	1972	$600 - $750	Bottle	SELL	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	Bottle	SELL	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	$800 - $950	Bottle	SELL	Bin numbering for Grange was standardised with the 1970 vintage.
Penfolds Bin 95 Grange Hermitage	1969	$500 - $700	Bottle	SELL
Penfolds Bin 95 Grange Hermitage	1968	$550 - $700	Bottle	SELL
Penfolds Bin 95 Grange Hermitage	1967	$610 - $850	Bottle	SELL
Penfolds Bin 95 Grange Hermitage	1966	$1,000 - $1,300	Bottle	SELL
Penfolds Bin 95 Grange Hermitage	1965	$540 - $680	Bottle	SELL
Penfolds Bin 95 Grange Hermitage	1964	$1,200 - $1,700	Bottle	SELL
Penfolds Bin 65 Grange Hermitage	1963	$1,400 - $1,800	Bottle	SELL
Penfolds Bin 95 Grange Hermitage	1963	$1,200 - $1,500	Bottle	SELL
Penfolds Bin 95 Grange Hermitage	1962	$1,650 - $1,800	Bottle	SELL
Penfolds Bin 95 Grange Hermitage	1961	$1,600 - $3,000	Bottle	SELL
Penfolds Bin 395 Grange Hermitage	1961	$700 - $900	Bottle	SELL
Penfolds Bin 95 Grange Hermitage	1960	$1,400 - $1,800	Bottle	SELL	Retail price of approx. $1.75
Penfolds Bin 46 Grange Hermitage	1960	$800 - $1,050	Bottle	SELL
Penfolds Bin 49 Grange Hermitage	1960	$1,200 - $2,200	Bottle	SELL	Grange production officially resumes.
Penfolds Bin 95 Grange Hermitage	1959	$1,700 - $2,400	Bottle	SELL
Penfolds Bin 46 Grange Hermitage	1959	$2,200 - $3,100	Bottle	SELL	Last of the 3 hidden granges
Penfolds Bin 49 Grange Hermitage	1959	$2,000 - $2,600	Bottle	SELL
Penfolds Bin 95 Grange Hermitage	1958	$3,900 - $4,000	Bottle	SELL
Penfolds Bin 46 Grange Hermitage	1958	$14,000 - $18,000	Bottle	SELL	Second of the hidden Granges
Penfolds Bin 47 Grange Hermitage	1958	$10,000 - $12,600	Bottle	SELL
Penfolds Bin 50 Grange Hermitage	1957	$12,000 - $16,000	Bottle	SELL
Penfolds Bin 113 Grange Hermitage	1957	$8,100 - $10,200	Bottle	SELL	First of the hidden, secretly produced Granges
Penfolds Bin 53 Grange Hermitage	1956	$15,000 - $17,000	Bottle	SELL
Penfolds Bin 14 Grange Hermitage	1956	$8,000 - $10,100	Bottle	SELL
Penfolds Bin 14 Grange Hermitage	1955	$2,400 - $3,300	Bottle	SELL	One of the most highly decorated of all Granges which eventually vindicated Max Schubert.
Penfolds Bin 95 Grange Hermitage	1955	$3,000 - $4,000	Bottle	SELL
Penfolds Bin 148A Grange Hermitage	1955	$2,000 - $2,400	Bottle	SELL
Penfolds Bin 13 Grange Hermitage	1955	$1,800 - $2,500	Bottle	SELL
Penfolds Bin 12 Grange Hermitage	1954	$14,000 - $18,000	Bottle	SELL
Penfolds Bin 11 Grange Hermitage	1954	$9,500 - $11,900	Bottle	SELL	Internal criticism led to a lighter style. Approx. 9 months in oak.
Penfolds Bin 145 Grange Hermitage Cabernet	1953	$15,200 - $16,900	Bottle	SELL
Penfolds Bin 9 Grange Cabernet	1953	$12,000 - $14,000	Bottle	SELL
Penfolds Bin 86C Grange Hermitage	1953	$15,000 - $20,000	Bottle	SELL
Penfolds Bin 10 Grange Hermitage	1953	$12,000 - $14,000	Bottle	SELL
Penfolds Bin 2 Grange Hermitage	1953	$13,000 - $15,000	Bottle	SELL	First vintage to use grapes from the Kalimna vineyard.
Penfolds Bin 4 Grange Hermitage	1952	$16,000 - $21,000	Bottle	SELL
Penfolds Bin 1 Grange Hermitage	1952	$25,000 - $30,000	Bottle	SELL	First commercial release. Retail release price less than $1
Penfolds Bin 1 Grange Hermitage	1951	$140,000 - $160,000	Bottle	SELL	First Vintage. An experimental wine that was not commercially released. Only 160 cases were made.

Values have been aggregated from national secondary market data.

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 Price
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 fluctua- tions of the market price going down as well as up.

More on Penfolds Grange

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