2008 Penfolds Grange Release Price

If it has anything to do with wine, we want to know about it!

2008 Penfolds Grange Release Price

Postby Kiwi » Wed Apr 03, 2013 8:29 pm

I heard tonight that the 2008 Grange is set to retail at A$785 on release in May. Who is buying it at this sort of money?
Kiwi
Member
 
Posts: 92
Joined: Mon Jan 26, 2009 4:09 pm
Location: Dunedin, New Zealand

Re: 2008 Penfolds Grange Release Price

Postby Hapudm » Wed Apr 03, 2013 8:54 pm

I will have 8 of the newly released 2010 Moss wood cab savs instead thanks despite 2008 being my sons birth year. Even sentiment has a limit.
Hapudm
Member
 
Posts: 34
Joined: Sun Mar 18, 2012 7:19 am
Location: Perth

Re: 2008 Penfolds Grange Release Price

Postby Dave Vino » Wed Apr 03, 2013 10:10 pm

The mind boggles

Be interesting to see if it goes back down next year if it doesn't score as well.yeah right
User avatar
Dave Vino
Senior Executive Vinophile
 
Posts: 1583
Joined: Sun Jun 04, 2006 6:31 pm
Location: Sydney

Re: 2008 Penfolds Grange Release Price

Postby falls » Thu Apr 04, 2013 11:45 am

I purchased a case of the 1980 at $12 a bottle release price at Dan Murphys. Leeuwin estate Chardonnay was then $18, Wolf Blass Black label $15. At one time, I had more than 10 cases of Grange in the cellar, it was an affordable wine!! Since 1990 release, that is no longer the case.

It is just a label drinkers wine, for sure. Like the Bordeaux FG's, it is a luxury product with no real intrinsic value at that price. I am not saying it is a bad wine, indeed, it is a great wine, Australia's greatest, but it does not represent any sort of value at $800. Only the Pict is more laughable, IMO.
Yes, any non-billionaire wine lover can spend their $800 far, far better than that, whether it be one bottle of wine,mor four dozen bottles of wine, there are so many better value products out there.

For me, Clape 2010 Cornas is a classic example. It is, like Grange, ostensibly a Shiraz. It is also the greatest young Shiraz I have ever seen, by a country mile, and in the top five Shiraz I have ever drunk. (the 55 Grange is the only Grange that would make my top ten) I purchased 12 bottles of this in France for $120 per, and, incredibly, six bottles last month right here in Melbourne for $200 per bottle. So I can get four bottles of a Shiraz that would eat the Grange for breakfast for one of the Aussie product. A no brainier.

In Australia, it is a wine for your kids birth, wedding anniversary etc, or for cashed up bogans with more money than sense. It is a remembrance wine, or a status symbol, nothing more. Still a great wine, but at $800 I think we need to stop and have a good look at the meaning of life.
falls
Senior Executive Vinophile
 
Posts: 1097
Joined: Thu Apr 20, 2006 12:26 pm

Re: 2008 Penfolds Grange Release Price

Postby n4sir » Thu Apr 04, 2013 1:27 pm

http://www.adelaidenow.com.au/news/nati ... 6611988158

"The price of the 2008 drop was originally expected to rise by 10 per cent from the 2007 vintage to $685 per bottle, but strong demand overseas saw the recommended retail price rise by 25 per cent.

Heralded as the perfect wine, the 2008 Penfolds Grange shiraz scored a perfect 100 points in a review last month in The Wine Advocate - one of the world's most influential wine journals - which has prompted the demand.

The last time a bottle of Grange scored 100 points in The Wine Advocate was in 1981, when the 1976 vintage was released"


http://tysonstelzer.com/articles/penfol ... ease-2013/

After seeing this I have to wonder how much of the massive jump has to do with the WA 100 point score? Tyson indicated a few months ago it would be the $685, yet after the 100 points its suddenly $100 more - can't be just coincindence.


Cheers,
Ian
User avatar
n4sir
Senior Executive Vinophile
 
Posts: 2205
Joined: Fri Jan 21, 2005 6:35 pm
Location: Adelaide

Re: 2008 Penfolds Grange Release Price

Postby ChrisH » Thu Apr 04, 2013 2:53 pm

Definitely related to the perfect Parker Score. It was reported in the paper than Shanghai was prepared to take it the lot if they could (for all their too-much-monyeyed points buyers).
User avatar
ChrisH
Senior Executive Vinophile
 
Posts: 1796
Joined: Mon Jul 07, 2003 10:28 pm
Location: Melbourne, Australia

Re: 2008 Penfolds Grange Release Price

Postby Artist FKAN » Thu Apr 04, 2013 9:39 pm

Penfolds said that as a result of the scores they had to jack up the price or demand would have exceeded supply. And they "wanted their retailers to make more money", or words to that effect. Joking ... might buy one at auction for $450 sometime ...
Artist FKAN
Chief Executive Vinophile
 
Posts: 10840
Joined: Mon Jul 26, 2004 7:01 pm

Re: 2008 Penfolds Grange Release Price

Postby Dave Vino » Thu Apr 04, 2013 10:09 pm

All things equal what do people reckon it's worth? For me it's not worth more than $199 a bottle. I've had probably 20 different vintages of it now and I just can't see it's value past the $200 mark.
User avatar
Dave Vino
Senior Executive Vinophile
 
Posts: 1583
Joined: Sun Jun 04, 2006 6:31 pm
Location: Sydney

Re: 2008 Penfolds Grange Release Price

Postby ChrisH » Fri Apr 05, 2013 10:30 am

I have had some great bottles of Grange and some so-so.

I think it can depend on the vintage and allowing enough time to maturity. For example, two bottles of the 1983 were as good as any wine I have had, and another will be, but wasn't nearly ready when opned in the last 12 months (the problem with corks in that they allow differing rates of maturity).

My 1986's are way off the pace for the way I like them, and if I opened one now I would think it a waste.

I had one of the 83's with an 83 Margaux - both great but obviously different in style. So in essence, I think it can be worth the money....but you have to wait a long time.
User avatar
ChrisH
Senior Executive Vinophile
 
Posts: 1796
Joined: Mon Jul 07, 2003 10:28 pm
Location: Melbourne, Australia

Re: 2008 Penfolds Grange Release Price

Postby falls » Fri Apr 05, 2013 10:42 am

Value is all relative.

In China, the scant few wine lovers are all totally into points, and see wine as a status symbol, not really so much a luxury item. As with HK, any 100point wine is ridiculously expensive. Wines in HK are half the price of here, except the 100 pointers, which are, amazingly, more expensive than in Australia in most cases!!

I was in one of Shenzhen's best restaurants on Saturday night, and there were rows and rows of Petrus in a glass cabinet, the 1990 was listed at 412,000RMB :shock: :shock: , even the 1993 would set you back 328,000 RMB!!! Sommelier reckons they sell one or two bottles a week, ! PS, the 1990 is 65,000AUD, if you are unsure of the exchange rate. Haha, as I said, it is all relative.
Actually, the funny thing was that there was a mountain of Petrus, one vintage of Jadot GC, can't remember which, and the next best wine seemed to be a columbia crest Chardonnay lol.

$400 is my max on any wine, and that is usually an old wine. Most of my wine purchases are between $50-200.

If you want to mature the wine, as you must, then too often people ignore the actual cost of the wine.
At a purchase price of $800, at 20 years the wine has actually cost you $2650 at 6% compound interest, not counting storage costs.

I would spend $300 on Grange, I reckon in the world market, that is what it is worth. But then again, I also reckon the FG's are worth $500, and DRC RC $1000, so clearly I am out of touch with the market!!!
falls
Senior Executive Vinophile
 
Posts: 1097
Joined: Thu Apr 20, 2006 12:26 pm

Re: 2008 Penfolds Grange Release Price

Postby falls » Fri Apr 05, 2013 10:56 am

ChrisH wrote:Definitely related to the perfect Parker Score. It was reported in the paper than Shanghai was prepared to take it the lot if they could (for all their too-much-monyeyed points buyers).


I know personally one of the most active wine importers in Shanghai. I sent him an email of that rumour and he replied saying he laughed for 10 minutes straight. Grange and 707 are popular amongst the wine set in China, but lag far behind the French stuff. Another wonderful Pennies rumour for the file. Unbelievable crap.
falls
Senior Executive Vinophile
 
Posts: 1097
Joined: Thu Apr 20, 2006 12:26 pm

Re: 2008 Penfolds Grange Release Price

Postby ChrisH » Fri Apr 05, 2013 11:50 am

Yes, good marketing spin if you are correct. Most journos don't have enough wine knowledge to question what they are told so probably not that hard to spin whatever you want.
User avatar
ChrisH
Senior Executive Vinophile
 
Posts: 1796
Joined: Mon Jul 07, 2003 10:28 pm
Location: Melbourne, Australia

Re: 2008 Penfolds Grange Release Price

Postby sanjay » Mon Apr 08, 2013 9:45 pm

I thought the 2004, raved by many, was very expensive. But some reason I plunged a purchased a few bottles. And apart from that I have a solitary bottle of 1996.

Athough Grange can be excellent wines in their own style, I would rather plunge excess money on top wines from Burgundy and Piedmont.
sanjay
Senior Executive Vinophile
 
Posts: 2032
Joined: Mon May 10, 2004 3:39 pm
Location: Melbourne

Re: 2008 Penfolds Grange Release Price

Postby Mahmoud Ali » Sat Apr 13, 2013 8:47 pm

A few months ago I spotted a bottle of 2004 Grange for about C$300 and, though it was tempting, I gave it a miss. Coincidentally, a few years ago some bottles of the '04 Cornas by Clape went through the till for C$20 each.

I've tasted both the Grange, at a Fig Tree Cellars Shiraz tasting in Sydney, and one of my bottles of Clape. Of course the Grange will require decades to mature, the Clape perhaps not as long, but honestly I think I much rather preferred the Clape.

Mahmoud
Mahmoud Ali
Member
 
Posts: 41
Joined: Sat Aug 25, 2012 8:44 am


Return to World Of Wine

Who is online

Users browsing this forum: No registered users and 1 guest