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.

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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Written by Chris Snow in Adelaide

Decanter Staff
Decanter Staff
Decanter Team

Content written and compiled by the Decanter Team