Penfolds Grange Selling For Record Prices
Prices for Bordeaux may be dropping but down under, the latest vintage from the Penfolds Grange may be the priciest yet. The 2004 Penfolds Bin 95 Grange, which will be released on May 1, is already selling in pre-release for $599 Australian (around $422 a bottle). It is said to be among the great vintages of the Grange (recent past top vintages have been the 1998, 1996 and 1990).Decanter also reveals that the Penfolds' super-premium collection will also be released on May 1. The complete collection is seven wines that includes he 2006 Penfolds Bin 707 Cabernet Sauvignon with a recommended retail price of AUS$185; 2006 Penfolds RWT Barossa Valley Shiraz - $170; 2006 Magill Estate Shiraz - $100; 2005 St. Henri Shiraz - $95; and 2007 Penfolds Reserve Bin A Adelaide Hills Chardonnay - $90.
Penfolds Grange is one of the top name brands for wine in the world and widely regarded as Australia's most prized wine but at a time when even marquee name wines like Mouton Rothschild are being offered at the lowest prices in years it seems a daring strategy to charge this much no matter how highly regarded a wine it is.
