Penfolds Grange (until the 1989 vintage labelled Penfolds Grange Hermitage) is an Australian wine, made predominantly from the Shiraz (Syrah) grape and usually a small percentage of Cabernet Sauvignon. It is widely considered one of Australia's "first growth" and its most collectable wine. The term "Hermitage", the name of a French wine appellation, was commonly used in Australia as another synonym for Shiraz or Syrah. Penfolds is owned by Treasury Wine Estates. 1950s-1960s The first vintage of Penfolds Grange was made on an experimental basis in 1951 by Penfolds winemaker Max Schubert and were largely given away at the time. Having toured Europe in 1950, Schubert implemented wine-making techniques observed in Bordeaux upon his return, aiming to create a red wine able to rival the finest Bordeaux wines both in terms of quality and ageing potential. Individual bottles of the 1951 vintage are still held by collectors; one sold at auction in 2004 for just over $50,000 AUD. The first vintage to be commercially released was the 1952. Penfolds Grange was styled as a powerful still wine in an age when fortified wines were in fashion. Negative reviews by wine critics and poor commercial prospects for the wine led Penfolds management in 1957 to forbid Schubert from producing Penfolds Grange, but Schubert persisted in secret through 1959. As the initial vintages aged, however, their true value came to be appreciated, and in 1960 the management instructed Schubert to restart production, oblivious to the fact that Schubert had never stopped production and had not missed a vintage. The great 1955 vintage was submitted to competitions beginning in 1962, and over the years has won more than 50 gold medals. The vintage of 1971 won first prize in Shiraz at the Wine Olympics in Paris. The 1990 vintage was named 'Wine of the Year' by the Wine Spectator magazine in 1995, which later rated the 1998 vintage 99 points out of a possible 100. Penfolds Grange also carries a "Bin" designation, referring to its storage location in Penfolds cellars while aging. 1951 was Bin 1, 1952 was Bin 4, and later vintages carried various designations. By 1964 the designation was standardised as "Bin 95". 1970s-1980s The 1971 vintage received the top score against other renowned international wines of the 1970s in a blind tasting with an international panel of judges in 2015. Originally released for around AUD $10 in 1976 the 1971