Once known for cheap, hard, leathery Shiraz and vast lakes of unwanted Chardonnay with the life oaked out of it, Australia is now rivalling Napa in both quality and price.

So much so that some of the figures in this list would not look out of place in the high-end Burgundy market; although there are few surprises as to who these big names are, with Penfolds and Henschke Hill featuring heavily. And it probably doesn't come as a shock to find Shiraz the champion grape or that this list is entirely dominated by reds.

Hot Barossa Valley and cool Eden Valley seem to be the two regions churning out the truly top-end stuff. But perhaps what’s most interesting to note is that the Rhône Valley, arguably Australia's French equivalent with their Syrah and hot red blends, commands no where near the same prices. The most expensive Châteauneuf-du-Pape listed on Wine-Searcher has an average price of just $627.

Looking at the below wines, a snob might wonder whether Australia was in danger of becoming a little nouveau riche. But as consumers dictate the market, it's hard to blame the Aussies for riding the wave.

1. Seppeltsfield Para Vintage Tawny Port, Barossa Valley A fortified wine takes top spot, Seppeltsfield has been producing top-quality fortified wines of a similar nature to Port for over fifty years. Founded in 1850 by Joseph and Johanna Seppelt back when South Australia was still very newly settled by Europeans, the Seppelt estate built its reputation on supplying quality wines and spirits to England as well as Australian hospitals. The Para Vintage Tawny is a red wine blend fortified with brandy spirit, the wine then ages in old oak barrels in Seppeltsfield's Centennial Cellar. The finished product has an aggregated critic score of 95 points and very lavish price tag of $5660. However, there is a catch – that price is based on the value of a 750ml bottle, whereas the wine itself is sold in 100ml bottles. So while it isn't technically the most expensive wine, it is the most expensive per milliliter, so it remains top of our list.

2. Penfolds Bin 170 Kalimna Vineyard Shiraz, Barossa Valley Arguably Australia's most well-known wine producer, Penfolds was founded in 1844 by Dr Christopher and Mary Penfold from vineyard cuttings they brought over from England. Their early success was made in various fortified wines but since then the estate has built a world-class reputation on high-end Shiraz and Cabernet Sauvignon. The Bin 170 Kalimna Vineyard Shiraz has an aggregated critic score of 94 points; Julia Harding MW of the Jancis Robinson team gave the 2010 a score of 18.5 and Robert Parker gave it 98, with a drinking window of 30 or so years. But for $1356 you wouldn't expect less.

3. Bass Phillip Reserve Pinot Noir, Gippsland The winery, founded in 1979, is named after two pioneers in the 19th Century, George Bass and Arthur Phillip. After operating organically for many years, the Gippsland vineyards have been biodynamic since 2002. The wines have built a reputation for their long cellaring potential and gaining complexity as they age. The reserve Pinot Noir is one such wine that benefits from a little bit of time but with an aggregated score of 94 points it can be assumed it's worth it. But to find out, you'll need $675.

4. Torbreck The Laird, Barossa Valley Torbreck is another Barossa giant that specializes in using some of the valley's oldest vines. Key varieties like Shiraz, Grenache and Mourvédre all pay homage to the Rhône Valley and nod towards the valley's traditional roots, which trace back to the early Silesian and European settlers. The estate has grown by forming longstanding partnerships with other vineyards like Hillside and Greenock Keller. The Laird is the result of one such collaboration, a single-vineyard Shiraz made from the old Gnadenfrei vineyard in the sub-region of Marananga, in collaboration with Malcolm and Joylene Seppelt. The wine has an aggregated critic score of 93 points and an average price tag of $626.

5. Henschke Hill of Grace Shiraz, Eden Valley Henschke is one of Australia's most famous estates and a member of the Australia's First Families of Wine alliance. Founded in Eden Valley in 1862 by Johann Christian Henschke, the estate has continued to pass down the family line for an impressive six generations. Although the estate has long championed the region's wines, they now have vineyards in both the Barossa Valley and Adelaide Hills. The Hill of Grace Shiraz is the Henschke family's flagship wine and has gone on to achieve cult status. With an aggregated critic score of 95 points, Hills of Grace is without doubt exceptional but, at $598, out of reach for the everyday drinker.

6. Penfolds Grange Bin 95 This list would not be complete without Penfolds most famous wine, Grange. The wine has been made for 60 years and as a result has built a formidable reputation. A multi-vineyard blend from the Barossa Valley, McLaren Vale, Coonawarra and Magill Estate, the wine is Shiraz with the occasional dash of Cabernet Sauvignon. As well as a careful blending process, the wine spends 20 months in 100 percent new American oak hogsheads to fully mature. An aggregated critic score of 95 points and a substantial price tag of $576 cement its place in the Australian elite.

7. Penfolds Bin 707 Cabernet Sauvignon, South Australia The Bin 707 is Penfolds' Cabernet Sauvignon equivalent to Grange. Like Grange, it is a multi-vineyard blend matured in new oak with the ability to age for decades. The first vintage was produced in 1964 and although it doesn't have quite the same dazzling reputation as its brother wine, it's not far behind. Garnering an aggregated critic score of 94 points, it's also considerably more affordable than the Grange at $411.

8. Chris Ringland Hoffmann Vineyard Shiraz, Barossa Valley Chris Ringland is another Barossa Valley master of Shiraz. Originally from New Zealand, Chris has honed his skills all over the world, including Europe and California before settling on South Australia. And although Shiraz is undoubtedly his champion grape, he has started recently experimenting with Nebbiolo and Carignan. The Hoffman Vineyard Shiraz is a joint venture between Chris and Adrian Hoffmann from Hoffmann Family Vineyards. Not as high-scoring as other wines, it still doesn't fare too badly with an aggregated score of 90 points. And, at an average of $376, it's a climbdown in price too.

9. Greenock Creek Vineyards & Cellars Roennfeldt Road Shiraz, Barossa Valley Although they are in our top 10 most expensive list, Greenock Creek Vineyards proudly proclaim they have just built a website. Technology may not be their strong point, but winemaking certainly is. The definitive boutique estate, all the wines are made from grapes grown on their property, so production is naturally small. The Roennfeldt Shiraz is made from 80-year-old vines in a tiny Marananga vineyard. As seems to be the case with many Barossa Shirazes, the wines are matured for 36 months in American hogsheads. The finished wine is described as "a monster from century-old vines" and has an aggregated critic score of 90 points. For $323, it's significantly cheaper than some of its Aussie playmates.

10. Henschke Hill of Roses Shiraz, Eden Valley To round off the list, we have a 100-percent Shiraz made from 25-year-old vines in the Hill of Grace vineyard – the wine is considered too young to go in the Hill of Grace wine, hence the Hill of Roses offshoot. The "roses" part pays tribute to one of the early Barossa pioneers, Johann Gottlieb Rosenzweig. Despite being too young for Hill of Grace, this is a powerful wine in its own right, having matured for 18 months in French oak. It may be the lowest scoring on this list with an aggregated critic score of 89 points but it is also by far the best value at an almost affordable $290.