This is the famous Cellar 20 in the Penfolds winery at Magill Estate, Adelaide.
On the left are 30 hogsheads (300-litre oak barrels) of Grange 2013, which is undergoing barrel maturation in Quercus alba (American oak).
On the right are American oak barrels containing Bin 389 cabernet shiraz. These barrels were used for the 2012 vintage of Grange, which is why Bin 389 is known affectionately as ‘Baby Grange’.
To provide an estimate of the value of the Grange sitting in these hogsheads, each barrel contains 300 litres, which translates to 400 standard bottles.
While the price of the 2013 Grange (which will be released in 2018) is not known, the price of the 2008 Grange, which reached $785 per bottle, can be used as a guideline.
One barrel = 400 bottles.
400 bottles x $785 = $314,000 per barrel.
$314,000 per barrel x 30 barrels = $9,420,000.
That’s right — nearly $10M worth of Grange. Staggering. One or two of those bottles will find their way into our cellar, of course.
Of course, this is just an estimate. Wine, even in barrels, does decrease in content due to evaporation.
Additionally, Penfolds releases magnums (and maybe the odd jeroboam) of Grange, which reduces the number of standard bottles.