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Auction Digs Up Dirt Cheap Penfolds Grange



A private collection of Penfolds Grange worth over $50,000 will be sold online from today with each bottle having a reserve of only $1

ADELAIDE, AUSTRALIA - August 18, 2011 -- Estimated at over $50,000, a private collection of Penfolds Grange from the 90's will be offered online for bidding from today. Auctioneer Mark Wickman of Wickman's Fine Wine Auctions (www.wickman.net.au) said that most of the bottles were worth between $350 to $600 each and the decision to offer them for sale with a reserve of $1 was a strategic decision by the vendor.

"Although it is possible for somebody to get a bottle of Grange for $1, it would be highly unlikely due to the nature and psychology of the auction system and I forecast that the wine will sell for its market value." Wickman said. "There are also many other wines for sale in the same auction that, although not at $1 reserves, are certainly at much, much lower values than retail, another benefit for buyers in the auction system."

The on-line auction starts on Thursday, 18th of August and will end on Monday 29th of August.

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Visit Wickman’s online at www.wickman.net.au

Notes for Editors:

About Wickman Fine Wine Auctions;
Distinguished by innovation and driven by passion, Wickman’s Fine Wine Auctions has been a lively and profitable meeting ground for wine buyers and sellers since 2003. A family business based in South Australia, Wickman’s prides itself on its position as a reliable resource with a well-spring of extraordinary values and opportunities.

Over the years, Wickman’s has continued to launch unique initiatives in an attempt to set the company apart from traditional online wine auction websites, introducing guaranteed provenance into Australian wine auctions and holding regular wine tasting events and dinners for its members.