While leading Australian wine group, Southcorp, struggles with corporate woes, demand for its flagship wine, Penfolds Grange, has reached bizarre heights. At a secondary bidding, a bottle of the 1998 vintage fetched A$700 (US$460), against the already awesome original price of A$395 (US$260).
Grange has always been a cult, collectible and investment rated wine, its image carefully nurtured by Penfolds various owners but demand for 1998 has startled even seasoned industry veterans. The secondary market developed within a fortnight at auction websites and wine brokers.
