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Vino Bay Assets

Penfolds Grange (until the 1989 vintage labelled Penfolds Grange Hermitage) is an Australian wine, made predominantly from the Shiraz (Syrah) grape and usually a small percentage of Cabernet Sauvignon. It is widely considered Australia's "first growth" and its most collectable wine.

The term "Hermitage", the name of a French wine appellation, was commonly used in Australia as another synonym for Shiraz or Syrah. In 1953 two versions of Grange were made, one 87% Shiraz and 13% Cabernet Sauvignon, the other 100% Cabernet Sauvignon.

Unlike most expensive cult wines from the Old World, which are from single vineyards or even small plots (called blocks) within vineyards, Grange is made from grapes harvested over a wide area. This means that the precise composition of the wine will change from year to year and it is the branding and expertise of the winemaking which purchasers value, rather than the qualities of the specific places where the grapes are grown or the particular vines.

The quantity of Penfolds Grange produced varies considerably from year to year and is a carefully guarded secret (although Penfolds have disclosed that 1,800 bottles of the original 1951 vintage were produced). Despite the vagaries of grape sourcing and vintage variation due to growing conditions, some believe that there is a consistent and recognisable "Penfolds Grange" style.

Appellation: Australia
Average Annual Production: 70,000 cases
Grape Varieties: 87% Shiraz and 13% Cabernet Sauvignon
Ageing: 12 months in large oak casks

$38,420 - Penfolds Grange Hermitage 1951: the most expensive Australian wine. The 1951 Penfolds Grange Hermitage is known to have only about 20 other bottles left in existence today. In May of 2004, a wine collector in Adelaide paid AUS$50,200 for a bottle at an Australian auction house

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