1951 Penfolds Grange sets new auction record

A bottle of 1951 Penfolds Grange sold for $78,000 over the weekend, a new auction record following the previous record of $59,415, set in 2017.

The wine was auctioned by Langton’s, with the first Grange only a limited release gifted to friends and family by Penfolds' chief winemaker Max Schubert.

Langton's heads of auctions Tamara Grischy said: "It was given to the family by Max, which is just amazing to be able to follow that. So it's only been in Penfolds hands and then in this family's hands, which is absolutely outstanding. It's very rare to find that these days."

The retail record for a 1951 Penfolds Grange is $65,000. It was sold by Dan Murphy's in 2015 and was signed by Max Schubert.

Also auctioned was a full set of Grange - 62 bottles - which had been carefully put together over 18 years by an avid wine collector. It sold for $308,726.

Other record-breaking entries in the auction included a 1958 Grange Bin 46 which sold for $19,340, with the previous record being $17,475; and the 1975 Imperial Grange, which achieved a staggering bid of $40,310, more than $11,000 more than the previous record held.

Grischy said: “This has by far been our most successful auction to date, showing how Penfolds continues to pique the interest of avid collectors and wine lovers alike.”

Grischy told ABC News that while most bottles are sold to collectors, some people buy them to drink, such as a client who bought a vintage Grange last year to give to her partner for his birthday.

"We stored it for her for a year and then she turned up and said, 'Can I collect it up and I'm going to drink it tonight with my partner', so people do drink them," she said.

"It's the ultimate gift I suppose for somebody who's passionate about wine."