TWE has pushed the price so high you’ll never get your money back
A couple of years ago, the Brisbane Times wrote that Grange had ‘enjoyed such success that it became an investors’ darling and, among international connoisseurs, Australia’s most famous wine … Unveiling the latest vintage on Thursday, Peter Jago (sic), Penfolds chief winemaker, said: ‘’Isn’t it nice to know that should you not drink it [Grange], that it’s sitting somewhere in a cellar or in a friend’s cellar and it’s gaining value. And that’s a wonderful thing.” ‘
These are curious times when winemakers become investment advisors. The notion that Grange appreciates in value over time is a myth. Here’s the advice I gave in a blog post on Costco selling Grange at deep discounts: Never buy Grange at the time of its release. Why not? Because you can buy virtually any vintage of Grange, back to the early seventies, for less than the current retail price.
‘Except for exceptional and rare vintages,’ auctioneer Mark Wickman tells us, ‘most Grange sells between $300 and $500 and, yes, that is less than you pay for it on release.’