A new edition of what has become a market-based form guide to the most prized Australian wines has been published by wine specialist auctioneers Langton's.

Its classification of leading wines is based on the secondary market and so reflects demands from investors and connoisseur consumers alike.

There are 101 wines in the new, fourth, listing and they include some surprises.

Unsurprising is the top "exceptional" ranking retained by Penfolds Bin 95 Grange and Henschke Hill Of Grace Shiraz.

But although the list has grown to, and will be capped at, 101 from the original 34 in 1991, Australian Chardonnays seem to have fallen out of favour.

Newcomers, another reflection of the influence of American wine writer Robert Parker, include top wines from small producers such as Veritas, Greenock Creek and Noon.

What gives the Langton's list its cachet is that it is based on money actually spent at auction.