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News
Grange vertical stays in Australia
A vertical of Penfolds Grange spanning the vintages 1951 to 2012 was sold in Adelaide this weekend for AU$230,000, less than was hoped for, but the collection will stay in Australia.
One of the bottles in the vertical
As reported last week, the du Plessis auction house in Adelaide offered the 62-bottle lot on Sunday 6 August.
With a pre-sale estimate of AU$250,000 to $280,000 (£150,000 – £170,000), the hammer price of $230,000 was slightly below expectations, even if the buyers, John and Leanne Davison will pay AU$260,000 in total once auction costs and other margins are added in.
Auctioneer Mark du Plessis told local newspapers that despite being a little disappointed at the final result he was very pleased that the collection was staying south Australia; something he’d said he hoped would happen in the run up to the sale.
Mr and Mrs Davison meanwhile have said they bought the vertical as an investment and plan to sell it on again in 10 years time when their youngest grandchild, now 11, turns 21. They will then use the money raised to “help out the grandkids.”
John Davison, a retired earthmoving contractor, is reportedly a keen wine collector who is already working towards building his own vertical of Grange.
His wife Leanne explained he has been on the lookout for a complete set since missing out on buying one at auction 10 years ago.