I have been pondering this topic out of curiosity and thought I would throw it out there. I’ve looked into it a bit. I’m always interested in learning more about wine.
You can apply your own criteria, but I’m thinking the wine needs to have some of the typical criteria applied to the concept such as critical acclaim (so perhaps several classic 95+ ratings from critics), a track record and they probably have a pretty good market price or are heading there. Of course, the wine needs to be stellar too.
There are well noted wine regions in Argentina, Australia, Chile, New Zealand and South Africa. I looked into whites and my only find was Leeuwin Chardonnay Margaret River Art Series in Australia. I’ve heard of it, but never tried it.
As for reds, the only sure bet and one I could name before even looking into it is Grange. I’d think this is a consensus slam dunk. One of my wine buddies who’s pays a mint to belong to a club with a cellar (one of those buy in deals) has tried them all (he’s approaching 70) and says the best glass of wine he ever tried was Grange.
Clarendon Hills Astralis and Henschke Hill of Grace Valley also came up.
In New Zealand Felton Road came up, but I don’t know that the track record is there yet. I’ve heard good things though.
I looked into South Africa and couldn’t come up with a fitting candidate.
In Argentina, I was surprised at the critical praise (and then therefore not surprised at the prices) of Achaval Ferrer. Catena Zapata came up too in a lesser way and I don’t know that this would qualify.
In Chile, the familiar names are Casa Lapostolle and Concha Y Toro.
Most people who follow NZ PN would probably not debate the ‘top 5’ too much (although I like Escarpment, Martinborough Vineyards and Kusuda, only ranked at the second level).
I know of no equivalent classification for NZ Bordeaux blends but Stonyridge Larose and Te Mata Coleraine are the two leading labels. I’m not saying they are NZ First Growth equivalents or anything like that level. However, we recently had a blind tasting of those wines and Bordeaux where they did ok. I’ll post some TNs on the tasting soon.
In South Africa, the only candidates I can think of (for red wine) are Rust en Vrede, Waterford Estate’s The Jem, and maybe Vergelegen V.
With respect to Chile, I agree with Le Dix, but I actually think Don Maximiano, not Sena, is probably the candidate from Errazuriz. I’d consider Concha y Toro’s Don Melchor, Montes Alpha M, and maybe Almaviva to add to Clos Apalta.
Howard nailed the NZ wines, and I don’t drink enough Aussie or Argentina wines to comment.