French presidential wine collection a hit at auction

June 1, 2013 at 4:49 PM
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PARIS, June 1 (UPI) -- Auctioneers selling off a portion of the French presidential wine collection said the bottles are fetching far above their anticipated prices.

In total, about 10 percent of the total presidential wine cellar is for sale -- about 1,200 bottles total -- and so far it's fetched 718,000 euros ($931,964), Radio France Internationale said Saturday.

Among the biggest sellers was a 1990 bottle of Chateau Petrus that went for 7,625 euros ($9,897) and a 1982 Chateau Latour for 4,625 euros ($6003).

Auctioneer Ghislaine Kapandji said buyers from "all over the world" came to buy the bottles and are paying well over the actual worth to get a bottle with French presidential lineage.

President Francois Hollande's office said proceeds from the sale would be used to replenish the collection with less expensive wines. The remainder would go into the government's coffers.

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