Australia’s Penfolds Grange is arguably the southern hemisphere’s most important wine for investors and is officially listed as a Heritage Icon of South Australia. On 6th August 2020, Penfolds saw to add another chapter to their 66-yearlong lineage of fine wines with the release of the much anticipated Penfolds Grange 2016. As reported by Liv-ex, this vintage has been released to trade at £4,140 (per 12×75cl), matching the current 2015 vintage price, but with an improved critic rating to ‘near perfect’ at 99 / 100. Quality wise 2016 is one of the outstanding Penfold vintages, only marginally trailing the perfectly scored 2013 and 2007.
The 2016 vintage is said to be a multi-regional blend of Barossa Valley, McLaren Vale, Clare Valley, Magill Estate comprising 97% Shiraz and 3% Cabernet Sauvignon. The wine had been given a maturation time of 18 months in American oak hogsheads (100% new) and the drinking window could be up to 43 years, between 2022 – 2065.
The release has been well-received by key wine critics, demonstrating once again that Penfolds continue to manifest legendary wines that inspire the uppermost anticipation, unrivalled excitement and pure joy. Joe Czerwinski of RobertParker.com awarded 99 points and noted the wine was “impressively concentrated and full-bodied, with an extraordinarily long, velvety finish” which is “on par with such vintages as 2010 and 2012”.
Similarly, James Suckling awarded highly with 98 points commenting that it “really is exceptionally complete, but tight, needs time to open. Very enjoyable now, but better after 2023”. The trend of near perfection ratings continues with 98 Points awarded by David Sly, Decanter Magazine, 99 Points from Tony Love and 98 Points by Andrew Caillard MW.
According to Liv-ex, Australia has seen a dramatic rise of wines traded and in fact stimulated 1.6% of the trade (by value) in the first half of 2020. Additionally, in its first week, the Grange 2016 vintage made the top five traded wines by value, ultimately suggesting there is room for growth in the widening market for investors to capitalise on.