Australian fine wines for online auction
Published June 7th, 2007
A collection of more than 50,000 bottles of Australian fine wines will be sold online from Friday following the collapse of a wine investment company in what the auctioneers say is the country’s largest wine auction.
Auctioneers Grays Online (www.graysonline.com.au) said the wine included Australia’s most famous wines, including multiple vintages of Penfolds Grange, and several vintages of Henschke Hill of Grace.
Grays said the collection was valued at about A$2.5 million ($2.1 million), but all lots would be offered with a starting price of A$9. A bottle of 1963 Penfolds Grange would normally sell for about A$2,000. “All wines have been stored in a professional climate controlled environment,” Grays Online said.
The wines come from Heritage Fine Wins, which went into voluntary liquidation in March 2005 with more than 1.3 million bottles of wine and A$12.5 million of debts.
The on-line auction starts on Friday, June 8, and will end on June 13.
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