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Wine/Penfolds Grange

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Question
Hi Paul
I have a bottle of Penfolds Grange which I am after an approximate  valuation for:
The vintage is 1967 in which the label and bottle are in great condition. It also has had the recorking done in 2012 (the service offered by Penfolds) and has been cellared appropriately. I was wondering if it is a good idea to sell now with the 50th milestone approaching.

Many thanks

Answer
Hi Michelle

in the case of wines this old, the real question is always storage conditions.  Most collectors and connoisseurs are hesitant to buy from and unknown collector because they can't be sure that the wine stored properly for its entire life.  And even one summer at higher temperatures would pretty much have sealed the fate of a bottle this old.

That's not to say your quest is doomed--only that the price you might expect to see would be considerably less than a bottle that had been stored at the winery all this time.  

The wine itself is legendary, and this bottle is now reaching full maturity or beyond.  I don't think it will continue to improve in the bottle or increase in value, so if your plan is focused on selling it, now would be the time.

Does that make sense?

Paul Wagner

Wine

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Paul Wagner

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Wines of the world, wine a food matching, wine and food service questions. I currently teach Wine courses at Napa Valley College, am an international wine judge, written many articles for publication, and have been a guest speaker at way too many wine conferences to remember. 25 years in the business. With Liz Thach and Janeen Olsen, I authored the definitive book on wine marketing: Wine Marketing & Sales, Strategies for a Saturated Market by The Wine Appreciation Guild, which won the Gourmand International Award in 2008 for the best wine book for professionals! With Rick Kushman of Capital Public Radio, I host a radio show and podcast called Bottletalk at rickandpaulwine.com, where I answer questions about wine and food on the air.

Experience

30 years in the business.

Organizations
Society of Wine Educators, Academy of Wine Communications, American Wine Society

Publications
Vineyard and Winery Management Magazine, Fine Wine Journal, les Amis du Vin Journal, Society of Wine Educators Journal, and more.

Education/Credentials
I have taught at Napa Valley College for the last twenty years.

Awards and Honors
Spanish National Wine Fair: A lifetime dedicated to wine award. Espaderino della Castelania di Soave in Italy.

Past/Present Clients
Wineries include Caymus, Wente, Parducci, Shannon Ridge, Paul Dolan Wines, Vigilance, and others. Wine regions include the Union des Grand Crus de Borcdeaux, Union des Grands Crus de St. Emilion, Consorzio di Chianti CLassico, Vino Nobile di Montepulciano, Consorzio di Franciacorta, Rioja Alavesa, and others.

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