Funny how often people tell me how easy it is to make money out of trading cellared wine. So with nothing better to do today I took the suggestion of a wine-buying friend to examine the prices realised at the most recent Langton’s sale. I mainly glanced at the established classics, and have to confess that I must be missing the point. Here is a small selection of the prices from the Melbourne auction that closed on December 9: Hardy’s Eileen Hardy Shiraz 1998 $61 Hardy’s Eileen Hardy Shiraz 1994 $45 Moss Wood Cabernet Sauvignon 1998 $74 Lindemans Limestone Ridge 1991 $36 Penfolds Bin 707 1991 $96 Penfolds Grange 1971 $552 Penfolds Grange 1983 $290 Penfolds Grange 1990 $445 Three Rivers Shiraz 1995 $512 Grange is the example most commonly trotted out by those in whose interests it is to encourage people to get into the cellaring and trading game. The 1990 vintage, one of the label’s best and highest-profile releases, was getting more than this about six years ago. And as for the Three Rivers Shiraz, this wine (one of our highest-profile cult classics which is described on the Langton’s site as our equivalent of Le Pin) was getting three times that price almost directly after its release. Furthermore, those individuals who sold these very wines at that very auction were billed 13.75% of the humble sale price they achieved as selling commission (which includes GST). Take my advice and don’t give up your day job.
