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Dec 14, 2012 07:33 PM

Penfold's releases £1.2M vertical collection of Grange (and more)

As of this writing, £1.2M equals $1.94 million, or €1.47 million. In Australian dollars, it would be approximately $1.84 million.

Or . . . HK$15.04 million.

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    1. It goes to what we were saying in the other thread that the release was launched by TWE in HK, as a demonstration by TWE to its Asian customers of their value.

      6 Replies
      1. re: mugen

        Just like their ridiculous ampoules of whatever it was that cost a six-figure sum.

        The current thinking seems to be that only Asian customers are dumb and unsophisticated enough to buy this. I'm sure there are a few of us who are flattered but as an Asian who has more commonsense than money, I find it patronising / borderline offensive.

        1. re: Julian Teoh

          There's a good reason why the world's luxury brands are rapaciously targeting China. 'Dumb and unsophisticated' is one way of phrasing it.

          1. re: mugen

            The Aussies seem to have this some sort of art form in recent years. Nov 2011 - 2008 Penfolds Bin 620A released in Shanghai (A$1,000), April 2012 - 2007 Parawa Estate Ingalalla Grand Reserve released in Singapore, HK and China, and now this.

            In the meantime, Aussie wine drinkers are sitting back with a glass of great value premium Aussie red and laughing while this farce unfolds before their eyes.

            1. re: Julian Teoh

              I generally agree, though it reminds me of a point that Jancis Robinson made: when her generation of wine-drinkers was growing up, top Bordeaux, Burgundies etc were at least relatively affordable. With Asian buyers now ready to pay thousands for Bordeaux, to mix it with coke, scull it, or open it then leave it to oxidise, more interested and sophisticated consumers have been entirely priced out of the market and are denied the pleasure of those status-bearing brands that are so prized in China.

              1. re: mugen

                Jancis is 3-1/2 years older than I am . . .

                For the 1970 & 1971 vintages, the on-the-shelf prices of the Premiers Crus were all $19.95-$22.50 -- except for Pétrus, the 1970 was $22.50, but the 1971 was $24.50. OTOH, 1970 Ch. Lynch-Bages, $6.95; 1970 & 1971 Palmer, $7.95, 1970 & 1971 La Mission Haut-Brion, $11.95.

                FWIW, the 1961s, upon release (i.e.: NOT on futures) were $3.75, except for Lafite, which was $4.50.

                1. re: mugen

                  Even if they aren't mixing it with coke, etc., they are still willing to pay gazillions above "what used to be" fair value for those wines. Although isn't fair value really just a measure of what the market is prepared to pay for it...

                  That said, I know a LOT of people here in Asia who are true wine lovers, as knowledgeable/obsessive as anyone else. Unfortunately, the excesses of the label drinkers end up tarring everyone with the same brush. A prime example would be the hostile reaction to the recent purchases by Chinese of French vineyard land, a particularly unattractive mix of snobbery, xenophobia and a dash of good old-fashioned racism.

        2. Artificially manipulated wine. Let them have it. I don't pay for wood chips, powdered tannin, and sugar to be added to my wine.

          5 Replies
          1. re: RhonelyInsanediego

            Surely Penfolds doesn't use additives for Grange ...

            1. re: mugen

              Surely . . .

              I assume that's sarcasm, because it's pretty well known. Grange is hugely manipulated with artificial techniques (wood chips) and additives . . .

              "But in Australia, powdered tannins are added to some of the countrys best wines. John Duval, chief winemaker at Penfolds, adds it after fermentation to the legendary Grange Hermitage. "It stabilizes the structure," he explains, noting that tannin additions were a basic tenet of the winemaking philosophy of Max Schubert, first winemaker of the Grange."

              1. re: RhonelyInsanediego

                Genuine surprise.

                I had the privilege of spending a vintage working at a winery that produced CS/S at about the $120 mark, while also undertaking contracted wine-making for chains and supermarkets. Tartaric acid, wood chips and walnut tannins were the essence of the cheap wines, but wine-makers' philosophy for their own wines was to preserve and protect the fruit at every point in the process, with minimal complexity in the wine-making technique and no intervention. I would have generally assumed that additives (other than SO2, etc) would be anathema to almost any wine-maker other than mass-produced stuff of the likes of 2 Buck Chuck/Yellow Tail.

                1. re: mugen

                  I'm a true believer that genuinely good wines are made in the vineyard.

                  I've had Grange once, before I even knew about their additions and techniques, and didn't understand it then. I still am amazed at all the WS 99pt and 100pt scores.

                  But that's part of what makes wine so great. You like what you like, there is no wrong or right. Or as one winemaker told me, you like what you are used to.

            2. re: RhonelyInsanediego

              LOL......try new American oak barrels, buddy

            3. had the 100pt 1998 about 4 times. One of the greatest "BBQ" wines ever