POLL: Penfolds 2017 release - Are you in?

[Sean]

deleted

[Dragzworthy]

Hi Dragzworthy
Japan might be a slightly different case, as it's had a long established fine wine market and I'd expect it to be European classics dominated, though California being there ahead of Aussie is notable.
Regards
Ian

Even then where I live (Singapore), it does seem as though many locals either look down on Australian wine or just view it as cheap plonk ("kangaroo wine" = Yellow Tail) for the BBQ cheap wine option. People seem to prefer the prestige appearance of the French wine and now there's also better value to be had via South American wine in the bottom bracket.

This is also the case in Korea. People really look down on New World wine without even tasting it or knowing much. It's purely based on perception but that's a very difficult thing to change

[Mahmoud Ali]

With the exception of a 1982 Bin 820 that was served by an impoter of Australian wine, I cannot recall any of my wine friends here in Canada ever serving up a Penfold's wine at a tasting. It has only been me. I already have a smattering of Penfold's wine in the cellar and have no reason to add any more. I'd rather look at wines I don't have instead of adding more vintages to the collection. Also true is the fact that the prices have climbed too high and I don't think they represent good value at all.

However, the St Henri, of which I have only a single vintage, still appeals, and earlier this year when I came across a couple of back vintages I had to buy them, the 2006 for the equivalent of A$36 and the 2004 for A$54. Of course for my palatte they will never be ready so really there is an element of false economy.

So I answered "No" on the poll.

Mahmoud.

[Ian S]

However, the St Henri, of which I have only a single vintage, still appeals, and earlier this year when I came across a couple of back vintages I had to buy them, the 2006 for the equivalent of A$36 and the 2004 for A$54. Of course for my palatte they will never be ready so really there is an element of false economy.

Mahmoud.

Ditto on the 2004. 7 bottles bought, no bottles opened yet, if I'm still using up the earth's oxygen in 2024 I might try a bottle.

[Mark Carrington]

Last retail purchase a full case Bin 28 2008 £5/bottle 6 years ago.
No longer have any interest, other than very occasional private purchase.

[phillisc]

Wow Mark, you highlightthe fundamental issue, 28 in the UK for a tenner. Great way to alienate your domestic market.
Cheers
Craig.

[Barney]

Voted no for all of the aformentioned reasons, was a constant buyer for around 20 years but stopped buying completely in 2010, they can charge whatever they like and I guess there will always be buyers however there is much better value out there.

[Redwine&Rum]

Haven't bought any Penfolds bottles since the 2010 Bin 707. Got a few bottles of the 2010 407 and 389 at a good price, but that's it.
Understand Penfolds strategy from a business perspective. It's working great. The cost though has been the complete destruction of their customer base in Australia.

I won't be buying any of their bottles. Plenty of other value out there.

[sjw_11]

Last three buys were the 389 2012, the St Henri 2010 and the Bins 28 and 128 2003... that is about it for Penfolds in my cellar. I think I have one ring in 2012 RWT and one mid-2000s Koonunga Hill as well.

I might buy either of St Henri or Bin 389 if the pricing was very keen, but I somehow doubt it will be.

[Ian S]

Wow Mark, you highlightthe fundamental issue, 28 in the UK for a tenner. Great way to alienate your domestic market.
Cheers
Craig.

In general we get the aspirational pricing as well (albeit without WET twisting the knife into Aussie punters after Pennies have stabbed us all in the back). On occasions there has been dumped stock, perhaps because there isn't the brand loyalty here, so old stock here is more like dead stock, even though the small volumes that do the auction rounds tend to sell for good money.

[Ddavew]

bin 389 can be found under $50 if you wait, i purchased 2010,2012,2013,2014 less than $50. st henri 2010 ,2012 both less than $60. i vote no because i just received my noon mailing form for the first time. (not the waiting list order form). kidding, i'm still interested but it really depends on the price , the release price from DM i will not even think about it.

[Chuck]

Who is buying them? Not me nor any of the people I mingle with. Perhaps the Chinese are buying it. Last bottle I acquired was a 2005 St Henri that was given to me by a flight attendant who accidentally spilt some coffee in my lap. I asked for more coffee. Apart from that I haven't bought since some 98 St Henri which I recently sold. Simply not worth it. Strangely the auction market for older vintages does not reflect current pricing. I wonder why?

Carl

[Scotty vino]

It's become far too exxy. Getting BIN 28 for $25-28 at unnamed retailer is about where it ends for me.

[Matt@5453]

Who is buying them? Not me nor any of the people I mingle with. Perhaps the Chinese are buying it.

I bought 2 x bottles of Bin 138 GSM for a total of $40 on clearance last year, my first purchase ever. I'm with you Chuck, I have not seen one person I mingle with buy a bottle.

Obviously people still are buying it locally. Australian & New Zealand Sales had a very modest increase in volume and revenue in FY17, with profitability up quite a bit. Looks like there has been growth from FY14 to FY17 consistently.

Biggest growth for FY17 was in Asia, assuming China was the largest portion.

[Ozzie W]

Obviously people still are buying it locally.

I think people who aren't experienced with wine view Penfolds as a safe bet. They need to bring a bottle to a dinner, a BBQ or whatnot and they have no idea what to bring. They don't want to bring the "wrong" wine. They are familiar with the Penfolds brand. So that's what they buy.

[trufflequeen]

Last purchases were 1 x '12 RWT and 3 x '10 St Henri which I managed to source at a very good price. No plans to stock up on the current new releases, though if I can find very competitive pricing (i.e. under $50), I may pick up some 389.

[shauno]

I'll still buy the good releases at the right price - $25ish for Bin28/128, $50 for 389, etc

Not too likely to see these sorts of prices again though I'd expect.

Kicking myself for not buying more $60 RWT when I had the chance too!

[Chuck]

Kicking myself for not buying more $60 RWT when I had the chance too!

You're not alone.

Carl