French President Francois Hollande Sells 1200 Bottles of Wine to…Raise Money for Cheaper Wines. What?

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?

Elysee Palace

Elysee Palace

“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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2 comments for “French President Francois Hollande Sells 1200 Bottles of Wine to…Raise Money for Cheaper Wines. What?

  1. May 2, 2013 at 5:38 am

    I knew one wife of an ambassador who was so cheap she would serve her Georgian guests Georgian food, which admittedly was famous cuisine in the region. Still, the role of the Ambassador is to advertise the food of his home country to his guests. But that would have required putting money up front to buy food from US commissary in Germany, getting reimbursed as you use the food for entertainment. Uh-uh. Not gonna do it. It was an embarassment, just like Hollande’s action is an embarassment. But he probably had a choice of just ordering cheap wine and charging it against his representational allowance, or getting money from somewhere so he doesn’t have to dip into his representational allowance for that particular item.
    Yes, he’s definitely a tightwad and a show-off, too.
    norma brown recently posted..Obama the PredictableMy Profile

    • May 2, 2013 at 9:22 am

      Hi Norma, I love your stories. After thinking about this, I’m betting since they are keeping 90% of their cellar, they have a lot left that is magnificent. Perhaps they will buy more of the “magnificent” while much younger and cheaper but far from ready to drink.

      I can’t imagine the Presidential Palace serving anything less. I’m hoping they will print what they buy, but doubt they will. That would really interesting.
      Maggie recently posted..French President Francois Hollande Sells 1200 Bottles of Wine to…Raise Money for Cheaper Wines. What?My Profile

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