Penfolds is jacking up the price of Grange to an incredible $850

Penfolds chief winemaker Peter Gago. Source: supplied

The price of Penfolds Grange, a golden goose made from grapes for Treasury Wine Estates, will jump another 8.3% to a new record of $850 when the 2012 vintage is released on October 20.

It’s the first price increase in two vintages, when Penfolds shifted the release date from Autumn to Spring and increased the cost to $785. The 2012 is the 62nd consecutive vintage of the nation’s most famous wine.

The company will release the 19 wines of the “2016 collection”, saying the “2012 Grange is stylistically akin to the 1963 Grange, with a contemporary ‘2012’ personality”.

But the increased price comes at a time when cellar storage business Wine Ark found that for the first time since 2007, Penfolds Grange had lost the title of Australia’s most collected wine to its cheaper relative, Bin 389, dubbed “Baby Grange”, at 1/10th of the price.

Penfolds plans to up the price of Bin 389 12.5% to $90 with the 2014 vintage. The 2013 can be found for around $70. Twenty years ago, it was less than $20.

Anyone looking for a somewhat cheaper Penfolds shiraz should probably consider the 2013 St Henri when it’s released in a fortnight. Chief winemaker Peter Gago describes the new vintage as “statuesque, brooding and complex” and it marks 60 years since the wine’s first commercial release.

The upside for Australian fans of Grange is that Treasury plans to release it in the US at $US850, which works out at about $AU1,120.

NOW READ: This 1997 ad shows how Penfold’s red wines have gone up in price over the last two decades

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