First it was the iconic Penfold's Grange that hit three figures, then the highly prized Henschke Hill of Grace ... and soon there were dozens joining them.

These days it's commonplace ... but even the hardened drinkers will be stunned at the news that Australia now has its first $1000 bottle.

Yep a grand. And for a new release, no less.

It's the inaugural release of Taylor's The Legacy 2014 - predominantly cabernet sauvignon, but with small parcels of cabernet franc and merlot blended in.

"This wine is the result of three generations of winemaking knowledge passed down through the Taylor family," said third-generation managing director and winemaker Mitchell Taylor.

"The Legacy is a testament to my grandfather and father's work in establishing the Taylor name across the wine industry. It's a privilege to be unveiling such a significant wine in our 50th year."

Only 1080 bottles were produced, making it extremely rare.

While the wine is high quality, so too is the packaging and technology.

The wine comes in a bespoke case, with The Legacy name emblazoned in silver. In the case is a certificate of authenticity, as well as a book containing a detailed history of Taylors Wines, and a family tree of the Taylors past and present.

But that's not all. Taylors are also offering a world-first, protective bottle overcap and security chip. The security chip, one of the first of its kind, enables purchasers of The Legacy to access information about the wine through their smart phone using near-field communication. Through a dedicated app, purchasers can also access important security details, confirming that the wine is authentic and unopened.

"The aim was to find true completeness in a wine," said winemaker Adam Eggins.

"Having a glass of The Legacy - you almost fall into it. It has a huge presence but is still delicate at the same time. It's a wonderful experience."

At this price, it had better taste pretty special.

It's just a drink, you say?

Not any more.