Grange set for Hong Kong auction
October 22, 2009
By Chris Snow in Adelaide
Two complete sets of Penfolds Grange are to be auctioned on 5 November in Hong Kong.
A pre-auction estimate of up to HK$1.85m (AUS $260,000) has been set for a Grange vertical from 1951 to 2004 750ml bottles.
A complete set of magnums from 1979-2004 is expected to fetch up to HK$430,000 (AUS $60,000).
Auctioneer Nick Bulleid MW said the set of magnums was 'very rare' because only 600 magnums of 1979 were ever produced.
Eamonn Egan, managing director of Sydney-based cellar managment company Cellar Link, said the estimates were higher than recent auction results because Hong Kong was 'a much bigger market - so there's more liquidity.'
'The locals seem intent on owning the must-haves of the wine world, a vertical of Penfolds Grange being one of them,' he said.
Egan said the two-lot auction was being auctioned to mark the opening of Cellar Link's Hong office.
Cellar link also has offices in London and San Francisco.
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