• A set of Penfolds Grange wines sold for a record price at auction on Sunday.
• The set of 64 bottles was sold for $431,000 at the Langton’s Penfolds Rewards of Patience auction.
• It beat the previous record of $372,800 for a set of Penfolds Grange sold in December 2019.
• Visit Business Insider Australia’s homepage for more stories.

A set of Penfolds Grange sold for $431,000 at the Langton’s Penfolds Rewards of Patience auction on Sunday, setting a new record.

The price includes the buyers premium of 16.5% including GST on top of the hammer price.

The Sydney buyer, who wished to remain anonymous, took home the set, which included 64 bottles, all vintages, of Penfolds Grange from 1951 to 2015.

“This Penfolds set is unique because some of the bottles are signed by Max Schubert, Penfolds first Chief Winemaker and the man behind Penfolds Grange,” Langton’s Head of Auctions Tamara Grischy said in a statement. “Many of the older vintages have also been certified in the Penfolds clinic.”

The recent sale beat the previous record of $372,800 for a set of Penfolds Grange sold in December 2019. It comes as prices for sets have skyrocketed more than 40% over the past three years.

Grischy described a set of Penfolds Grange as “a wine collector’s ultimate dream”.

“It has been estimated there are only around 30 complete Penfolds Grange sets in existence in the world, making them incredibly rare,” she said. “This auction result is a great news story for Australian fine wine, as it shows that Penfolds goes from strength to strength – it’s like liquid gold.”

The Langton’s Rewards of Patience auction takes place every six months, with 2020 marking its 24th year. Other standouts on the night include a Penfolds Bin 60A Cabernet Shiraz 1962 which sold for $18,472 and another bottle of Penfolds Bin 60A Cabernet Shiraz 1962 that was taken home for $15,005.

READ MORE:

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.