Max Schubert's most famous wine, the rare Bin 1 1951 Grange, a wine that should never have been made, set an Australian auction record tonight when it fetched a hammer price of $50,200 at the Oddbins Silent Bid Wine Auction.
Auction Manager Merrilyn Middleton, stated that the strength of bidding on this iconic wine confirms the confidence shown in the Australian wine market and also noted that it was a reflection of Grange's enormous significance within the Australian wine industry.
Record prices were also paid tonight for rare Granges from 1952, 1955, 1958 and 1961 and a half bottle of 1953. These wines came from Mr Schubert's own private collection. The 1952 fetched a hammer price of $19,000 while the 1958 fetched $19,100.
The 1951 Grange was never commercially released and according to the 2004 Penfold's book, The Rewards of Patience, the wine is described as a valuable collectors item because of historic significance. It also notes that the bottles themselves are also a rarity as they were hand blown. Only 160 cases were ever made and no one knows exactly how many bottles remain.