Bin 389: since when did the price go up to $50/bottle?

[Jenise]

I've always thought the wine was a steal at $20ish, but it stayed thereabouts for so long that I got used to presuming it would stay there forever. Just got an offer this morning for the 09 at $52, though, so obviously I've slept through some kind of transition. A quick check on Wine-Searcher suggests that's about right, $50ish nationwide. Looking back, the 08 was priced similarly as was the 07. When did all this happen?

[David M. Bueker]

Increase really started with the 2005/2006 time period.

[John S]

This is part of an even more recent decision to raise the 'profile' (i.e., prices) of the premium levels of Penfolds wines starting in the 2009 vintage. Check out the following link for a response to this from members of one Australian wine board - http://forum.auswine.com.au/viewtopic.php?f=1&t=12448&sid=2ee66045078b5b620dead6dbaed85e6a.

[Jenise]

John, thanks for the link. Interesting read, and a lot of names I recognize from the good old days before internet wine discussion fragmented geographically--like Craig (NZ), Gavin and the Red Bigot.

I was surprised that I had to read all the way to the last entry though before someone mentioned China--that was my first suspicion, that Penfolds were aiming to turn it into a prestige brand for those who buy more on price and label than because they understand true quality.

[Jon Leifer]

This used to be an annual buy for me as well, Jensie..I feel like Rip Van Winkle..Haven't bought any in a few years and apparently I slept through the price increases..At that price, wd be an annual no buy for me

[Covert]

I've always thought the wine was a steal at $20ish, but it stayed thereabouts for so long that I got used to presuming it would stay there forever. Just got an offer this morning for the 09 at $52, though, so obviously I've slept through some kind of transition. A quick check on Wine-Searcher suggests that's about right, $50ish nationwide. Looking back, the 08 was priced similarly as was the 07. When did all this happen?

This is one of the very few wines from outside of Bordeaux that ever spoke to me beyond taste.

[Jenise]

Surprises me, you and anything Aussie though it's a great wine. I'm still sitting on some 98's. After a fashion, that is.

[Mark Lipton]

Surprises me, you and anything Aussie though it's a great wine. I'm still sitting on some 98's. After a fashion, that is.

That '98 Bin 389 is a great wine and perhaps the last vintage of it that I bought (maybe an '01, too). BIll Spohn had exhorted me to store for long-term consumption, but needs must and it went the way of so many bottles in our household too soon.

Mark Lipton

[Dale Williams]

This used to be an annual buy for me as well. The 91, 96, and 98 were all killer value. I have couple bottles each of 96/98 left, which comprises about half my total Australia collection, along with a lone Mt Langi Ghiran, a couple Yarra Yerings, and a couple Parker Estates.
At $50? No.

[Mark Wickman]

This used to be an annual buy for me as well. The 91, 96, and 98 were all killer value. I have couple bottles each of 96/98 left, which comprises about half my total Australia collection, along with a lone Mt Langi Ghiran, a couple Yarra Yerings, and a couple Parker Estates.
At $50? No.

We had a 96 the other night.. closed to start with it opened up gloriously. It has quite a few more years left in it yet.

[Dale Williams]

IN honor of this thread I opened a bottle each of the 96 and 98 Sunday night when Salil came. Solid wines, with me preferring the 96 by a hair. Both were still alive last night, but my preference for the 96 was more marked on day 2- it held up to 24 hours of air very well.
Glad I purchased, but if I had paid more I'd have been less content.

[Jenise]

Dale, did the 98 not hold up over 24 hours, or just not as well? Wonder if you're indicating the wine's finally at peak.

[Mike Pollard]

My Penfolds favorite is the St Henri which I got for many years at around $30-35/btl; still have some bottles going back to 1992. Today its double that, and even more in Oz. But last week at Taiwan's Taoyuan airport it was $2900NT, or about $98USD and $95AUD. So maybe the asian market isn't full of good deals on Penfolds wines.

Mike

[Jenise]

I love the St. Henri too. The last ones I bought were really cheap: they were part of a large order, and when I got home and looked at the receipt I was amazed to see them listed by name on the cash register receipt (they'd scanned) but with this price: $0.00.

[Tom V]

I had bought a case of 1989 Penfolds bin 389 upon release for I believe $8.99 a bottle. We drank the last two bottles the summer before last when an old friend visited from out west. He had mentioned the wine to me before he visited and how much he had enjoyed it way back when, so I dug it out to surprise him. He also mentioned on the day we popped it that he had seen it recently for over $60 a bottle...I was sure he was mixing it up with some other Penfolds bottling! Anyway, the wine, which I think Parker recommended drinking within a few years, was stellar! Who knew this stuff was so good?!

I also remember being in Garnet Wines on Lexington Ave in the early 90's and passing up the Penfolds Bin 707 because I thought $30ish was rather steep. I bet that wine is still drinking awfully well! Should have bought a few cases!

[Dale Williams]

Dale, did the 98 not hold up over 24 hours, or just not as well? Wonder if you're indicating the wine's finally at peak.

The 1998 held up ok as far as oxidation, it's just the jammy ripeness seemed more pronounced on day 2, while with the 96 it receded and left a more elegant wine.