The good news is, after the Presidential residence sells it’s expensive collection of wine to buy cheaper wines, if any monies are left over, they will go back into the treasury. The sale is expected to bring in about $330,000 USD. The collection of 1200 bottles represents 10 percents of the Palace cellar. This is a first. Never before has the country sold it’s wine stash, and you can only imagine what that stash might be, but why cheaper wines?
“The estimated value of the wines, said to be a small example of France’s rich wine-making history, ranges from a modest 15 euros to 2,200 euros for a bottle of Petrus 1990 [extraordinary vintage].
But the auction house said the majority of the wines should be available for under 100 euros.
The offer ranges from champagnes to rich reds, with a heavy emphasis on wines from Burgundy and Bordeaux, as well as selections from the Loire Valley and Alsace.
The sale is expected to raise around 250,000 euros which will be used to buy less pricey wines, the auction house said, adding that “the money left over will be returned to the state budget.” Source: rfi english
Why? They had too many single bottles or too few bottles to serve at official functions. Makes sense to me. What doesn’t make sense is that the French President at any time in the history of the country will serve “cheaper” wines to guests. This is France, the Grande Matriarch of wine. Our world is upside-down. Shameful.
The goal of the sale, which will take place on May 30 and 31, is to allow the Elysée Palace to refresh its wine collection without drawing on public funds. The sale could be viewed as a symbolic move by the French presidency in a time of biting austerity and with a ballooning public deficit. Source: france24
The auction house is Drouot, dates May 30 and 31, 2013. Please consider giving Maggie’s Wine a ‘Like’ on Facebook. Thank you!
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