Penfolds Grange Release Could Make You Pour
Announcement posted by Wickmans Fine Wine Auctions 02 May 2013
ADELAIDE, AUSTRALIA – Wednesday 2nd May, 2013 – Auctioneer Mark Wickman’s latest wine investment review has given only 2 stars out of a possible 5 to famed Penfolds Grange latest 2008 vintage release.
Wickman expects it to sell between $620 and $785 on the day of release with no way of getting the initial investment back over time. “The secondary market is skewed towards domestic trading only and is decades away from any investor achieving even their initial outlay”, Wickman said. It may be possible to capitalise on the supply shortage in Australia for a short time but you need to draw a lesson from the history of the 1998 vintage, another hyped Grange, which achieved good results at auction for some time after release until a flood of exported bottles found their way back to Australia, like a flock of homing pigeons, and collapsed the price, it then makes the long term view less appealing.
Average trading prices over the last year for earlier vintages adds weight to the review. Grange that was purchased 10 years ago to the day, when sold at auction, barely covers the cost of storing and insuring it for that time.
Penfolds Grange is certainly undervalued on the world stage, but until there is a long term sustainable demand from the likes of either China or the USA, real Grange prices on the Australian secondary market will continue to rise on par with inflation rather than the speculative yields often quoted by those hoping to turn a quick dollar.
Mark Wickman is the auctioneer at online wine auction house Wickman’s Fine Wine Auctions.
The full wine review is available at:
http://www.wickman.net.au/wineauction/wine-investment/wine-investment-reviews.aspx
A reference of all vintages of Penfolds Grange prices in list form is available at:
http://www.wickman.net.au/wineauction/Grange_prices.aspx
###
Visit Wickman’s online at www.wickman.net.au
Notes for Editors:
About Wickman Fine Wine Auctions;
Wickman’s have been providing independent market intelligence and advice on the wine auction sector since 2003. It is the only company in Australia with a wealth of proprietary software resources that aggregates key data published by the leading Australian auction houses.
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.