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Grange hits new high

Published:  23 July, 2008

Aussie auction beats October peak

A complete set of 44 vintages of Penfolds' Grange Hermitage was sold for a record price of A$159,000 at a Langton's auction in Australia on 26 November. The telephone bid by an unidentified Hong Kong-based purchaser beat the previous highest-ever price of A$112,000 paid in October 1999. Individual bottles of Grange can change hands for between A$10,000 and A$15,000, depending on their rarity value, although the experimental 1951, which was heavily criticised on its release, recently notched up a price of A$24,500. According to Andrew Caillard MW of Langton's, fewer than 40 complete sets of Grange exist worldwide.