Penfolds '04 Block 42 Good Investment?
Penfolds '04 Block 42 Good Investment?
Just curious on everyones thoughts whether the Block 42 will be a good investment.
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Mike Hawkins
- Posts: 2747
- Joined: Fri Aug 29, 2003 9:39 am
no such thing as wine investment. imo its all 'speculation'
take off buyers premium, sellers premium, cost of money, opportunity cost and there is only the odd wine that comes out in the black.
also the high opening price of the penfolds 60a and 42 makes % return less likely
if you know a few wine freaks syndicate the cost and try it. could be best approach
take off buyers premium, sellers premium, cost of money, opportunity cost and there is only the odd wine that comes out in the black.
also the high opening price of the penfolds 60a and 42 makes % return less likely
if you know a few wine freaks syndicate the cost and try it. could be best approach
Follow me on Vivino for tasting notes Craig Thomson
In short it's a tough call, and it depends on your definition of investment (selling for profit or future purchase of the same item in top condition).
While I haven't tried the wine, with rave reviews by Jancis & Bob and the Bordelais getting greedy with the (reportedly) patchy 2006 vintage I would have thought this would have been snapped up quick smart, but it hasn't happened. Australian Super Premium Cabernets are always a hard sell overseas compared to Shiraz (no matter how good they are in comparison) and that's where the scarcity value kicks in to make the modern releases genuinely collectable as an investment
Fosters have priced it at the very upper end of what it could sell for locally and it's not moving, although that's no indicator of what could happen in future (I heard there is another Penfolds Rewards of Patience tasting scheduled for the end of this year). It's still readily available at your local supermarket, and if you fly overseas you'll get it over $100/bottle less because of our ruthless taxation system. It also doesn't have the 1962 Bin 60A's reputation to try to build on (if only the called it 'Grange Cabernet' instead they could try to cash in on the legendary '53)
It's your decision - as a drinker, if you really want it spend that sort of money on a bottle do it because you'll have the guarantee of knowing its cellaring history. If you're in it to make a buck though, you'll have to be prepared to sit on it a very, very long time and I don't know how many of these will be drunk in a hurry to spur the demand to make a killing on the sort of money you're shelling out at purchase.
Cheers,
Ian
While I haven't tried the wine, with rave reviews by Jancis & Bob and the Bordelais getting greedy with the (reportedly) patchy 2006 vintage I would have thought this would have been snapped up quick smart, but it hasn't happened. Australian Super Premium Cabernets are always a hard sell overseas compared to Shiraz (no matter how good they are in comparison) and that's where the scarcity value kicks in to make the modern releases genuinely collectable as an investment
Fosters have priced it at the very upper end of what it could sell for locally and it's not moving, although that's no indicator of what could happen in future (I heard there is another Penfolds Rewards of Patience tasting scheduled for the end of this year). It's still readily available at your local supermarket, and if you fly overseas you'll get it over $100/bottle less because of our ruthless taxation system. It also doesn't have the 1962 Bin 60A's reputation to try to build on (if only the called it 'Grange Cabernet' instead they could try to cash in on the legendary '53)
It's your decision - as a drinker, if you really want it spend that sort of money on a bottle do it because you'll have the guarantee of knowing its cellaring history. If you're in it to make a buck though, you'll have to be prepared to sit on it a very, very long time and I don't know how many of these will be drunk in a hurry to spur the demand to make a killing on the sort of money you're shelling out at purchase.
Cheers,
Ian
Forget about goodness and mercy, they're gone.