Penfolds 1957 Shiraz St. Henri sells for U.S $6,991

At the annual Penfolds Wine Auction in Sydney, Australia, 1957 Shiraz St. Henri sells for U.S $6,991 against an estimate of $750-$1000.

Penfolds, one of Australia's oldest wineries, is mostly renowned because of its prestigious Grange. Grange was developed by Max Schubert, and is considered Australia's most desirable and expensive wine.

St. Henri, created by Schubert’s subordinate, John Davoren, was never valued as highly as Grange. It was usually drunk rather than being kept, which makes it rare today. This Australian wine, which was not considered a collectible item, sold at a record price.

Penfolds was founded in 1844 by British physician Christopher Rawson Penfold, and is now part of the beverage giant Foster's Group.