Bottle of red wine from California sells for record $12,300

NEW YORK - A bottle of red wine from Napa, California recently set a record price.

A 1973 Stag's Leap Wine Cellars S.L.V. Cabernet Sauvignon sold for $12,300 on March 10 at Heritage Auctions' Wine Signature Auction in Beverly Hills 

The bottle was resold for more than three times its original price.

Stag's Leap said there were only a handful of unopened bottles remaining.

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"Each vintage, we set aside a small amount of our production to age and enjoy over time," Marcus Notaro, winemaker for Stag’s Leap Wine Cellars, told SpiritedZine.com. "This auction was the first time said we’ve opened up our library at this level, and we are thankful to all the collectors and bidders who turned out and showed the pent-up demand for our high quality and age-worthy wines."

According to the auction house, the S.L.V. Cabernet was under precise temperature and humidity control from the type of their birth to its sale.

It is the same vintage that won a blind-tasting in 1976 beating France's best Bordeaux. The win moved the Smithsonian Institute’s National Museum of American History to place a bottle in its permanent collection.

"With this auction, the two most expensive Cabernet-based wines produced in the last 61 years are wines from California, not France, including the first vintage of Screaming Eagle that sold at Heritage Auctions last September for $14,760," Frank Martell, senior director of fine and rare wines at Heritage Auctions, told SpiritedZine.com.