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Saturday, 3 May 2014

$65,500: The Price of the Latest Penfolds Release to Commemorate the Australian Winery's 170th Anniversary

Got a spare $60,000 floating around?
You could put a deposit down on a house, feed 600 families in the Horn of Africa for one month or buy a single bottle of wine in a fancy case.

The latest luxury offering from Penfolds, the maker of Grange, is an imperial (six-liter) bottle of 2010 Penfolds Bin 170 Kalimna Shiraz encased in an oak and eucalyptus box, made by British cabinet makers Linley.

With a price tag of AU$65,500 ($60,770), the large-format bottle in the wooden case is a relative bargain compared to Penfolds’ last luxury release – a $168,000 cabinet holding an ampoule filled with 750ml of Kalimna Block 42.

Just seven Linley cases have been produced to commemorate the South Australian winery's 170th anniversary. “It features a bespoke compass marked with intricate detail and precision engraving. To open each imperial case one must turn the precious jade inset dial to the longitude and latitude coordinates of Magill Estate,” said Penfolds in a statement. The press release revealed the coordinates are -34, 138, hardly a security measure for future owners. It has also has a (now not-so) “secret drawer”.

While the price tag might have your eyes watering, you also have the option to buy a single bottle of the limited edition Bin 170 for a mere AU$1800 ($1670).

However, it appears there are plenty of people willing to splash their cash on exorbitant bottles. This week, a 12-bottle case of 1982 Petrus was snapped up at a Sotheby’s auction for more than $75,000.

Source: http://www.wine-searcher.com/