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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 October 2016

If you would like us to value your bottle for auction, we can do a complimentary valuation on our selling wines page.

Reference: See our investment review of the 2008 Penfolds Grange

Signing up for our auction alert is a great way to keep track of the latest prices being paid for Grange on the secondary market.

Wine NameVintageLow or AverageHighNotes
Penfolds Bin 95 Grange Shiraz (upcoming 2016 Release)2012$550$600To be 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$600Released Oct 2015. The 2011 vintage was a poor year with low yields. Very little of the usual marketing hype accompanied this release. Dont be surprised if it dips below $400 within a year or so of release.
Penfolds Bin 95 Grange Shiraz (October 2014 Release)2010$585$600Released 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$600Released 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 Shiraz2008$600$700Released 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 Shiraz2007$400$510This 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 Shiraz2006$500$600Retail release price around $599
Penfolds Bin 95 Grange Shiraz2005$400$460 
Penfolds Bin 95 Grange Shiraz2004$440$470 
Penfolds Bin 95 Grange Shiraz2003$375$440 
Penfolds Bin 95 Grange Shiraz2002$390$480Retail release price around $500
Penfolds Bin 95 Grange Shiraz2001$365$460 
Penfolds Bin 95 Grange Shiraz2000$390$440 
Penfolds Bin 95 Grange Shiraz1999$375$450 
Penfolds Bin 95 Grange Shiraz1998$510$600 
Penfolds Bin 95 Grange Shiraz1997$335$390 
Penfolds Bin 95 Grange Shiraz1996$450$610 
Penfolds Bin 95 Grange Shiraz1995$340$390 
Penfolds Bin 95 Grange Shiraz1994$375$410Laser etching of the bottles introduced.
Penfolds Bin 95 Grange Shiraz1993$370$410 
Penfolds Bin 95 Grange Shiraz1992$350$440 
Penfolds Bin 95 Grange Shiraz1991$445$540Release price around $140
Penfolds Bin 95 Grange Shiraz1990$515$600An outstanding vintage. Retail release price at $130 - $140.
Penfolds Bin 95 Grange Hermitage1989$400$450 
Penfolds Bin 95 Grange Hermitage1988$400$450 
Penfolds Bin 95 Grange Hermitage1987$400$450 
Penfolds Bin 95 Grange Hermitage1986$600$700Retail release price around $85.
Penfolds Bin 95 Grange Hermitage1985$350$520 
Penfolds Bin 95 Grange Hermitage1984$340$380 
Penfolds Bin 95 Grange Hermitage1983$390$500Retail release price around $50 - $60
Penfolds Bin 95 Grange Hermitage1982$330$380 
Penfolds Bin 95 Grange Hermitage1981$360$480 
Penfolds Bin 95 Grange Hermitage1980$335$400 
Penfolds Bin 95 Grange Hermitage1979$350$460The last vintage to use the white foil capsules
Penfolds Bin 95 Grange Hermitage1978$340$520 
Penfolds Bin 95 Grange Hermitage1977$350$440 
Penfolds Bin 95 Grange Hermitage1976$800$1,000The first Australian wine to be released over $20.
Penfolds Bin 95 Grange Hermitage1975$410$600Retail price around $15
Penfolds Bin 95 Grange Hermitage1974$450$500Retail price around $13
Penfolds Bin 95 Grange Hermitage1973$320$380Retail price around $12
Penfolds Bin 95 Grange Hermitage1972$385$450A quantity of this vintage was accidentally oxidised during bottling, hence the lower market value of the russian roulette vintage.
Penfolds Bin 95 Grange Hermitage1971$700$1,100One of the great Grange vintages. For many years this vintage set the standard. Retail release price around $10
Penfolds Bin 95 Grange Hermitage1970$350$580Bin numbering for Grange was standardised with the 1970 vintage.
Penfolds Bin 95 Grange Hermitage1969$500$700 
Penfolds Bin 95 Grange Hermitage1968$550$700 
Penfolds Bin 95 Grange Hermitage1967$610$850 
Penfolds Bin 95 Grange Hermitage1966$1,000$1,300 
Penfolds Bin 95 Grange Hermitage1965$540$680 
Penfolds Bin 95 Grange Hermitage1964$1,200$1,700 
Penfolds Bin 65 Grange Hermitage1963$1,400$1,800 
Penfolds Bin 95 Grange Hermitage1963$1,200$1,500 
Penfolds Bin 95 Grange Hermitage1962$1,650$1,800 
Penfolds Bin 95 Grange Hermitage1961$1,600$3,000 
Penfolds Bin 395 Grange Hermitage1961$700$900 
Penfolds Bin 95 Grange Hermitage1960$1,400$1,800Retail price of approx. $1.75
Penfolds Bin 46 Grange Hermitage1960$800$1,050 
Penfolds Bin 49 Grange Hermitage1960$1,200$2,200Grange production officially resumes.
Penfolds Bin 95 Grange Hermitage1959$1,700$2,400 
Penfolds Bin 46 Grange Hermitage1959$2,200$3,100Last of the 3 hidden granges
Penfolds Bin 49 Grange Hermitage1959$2,000$2,600 
Penfolds Bin 95 Grange Hermitage1958$3,900$4,000 
Penfolds Bin 46 Grange Hermitage1958$14,000$18,000Second of the hidden Granges
Penfolds Bin 47 Grange Hermitage1958$10,000$12,600 
Penfolds Bin 50 Grange Hermitage1957$12,000$16,000 
Penfolds Bin 113 Grange Hermitage1957$8,100$10,200First of the hidden, secretly produced Granges
Penfolds Bin 53 Grange Hermitage1956$15,000$17,000 
Penfolds Bin 14 Grange Hermitage1956$8,000$10,100 
Penfolds Bin 14 Grange Hermitage1955$2,400$3,300One of the most highly decorated of all Granges which eventually vindicated Max Schubert.
Penfolds Bin 95 Grange Hermitage1955$3,000$4,000 
Penfolds Bin 148A Grange Hermitage1955$2,000$2,400 
Penfolds Bin 13 Grange Hermitage1955$1,800$2,500 
Penfolds Bin 12 Grange Hermitage1954$14,000$18,000 
Penfolds Bin 11 Grange Hermitage1954$9,500$11,900Internal criticism led to a lighter style. Approx. 9 months in oak.
Penfolds Bin 145 Grange Hermitage Cabernet1953$15,200$16,900 
Penfolds Bin 9 Grange Cabernet1953$12,000$14,000 
Penfolds Bin 86C Grange Hermitage1953$15,000$20,000 
Penfolds Bin 10 Grange Hermitage1953$12,000$14,000 
Penfolds Bin 2 Grange Hermitage1953$13,000$15,000First vintage to use grapes from the Kalimna vineyard.
Penfolds Bin 4 Grange Hermitage1952$16,000$21,000 
Penfolds Bin 1 Grange Hermitage1952$16,500$16,600First commercial release. Retail release price less than $1
Penfolds Bin 1 Grange Hermitage1951$38,000$60,000First 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
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.

Author: Mark Wickman
wineauction@wickman.net.au Google+ Profile 
Copyright ©2015 Mark Wickman, All Rights Reserved.

Penfolds Grange Hermitage 1951

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