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AUSTERITY: French auction off presidential wine collection


French President Francois Hollande, who unlike his predecessor enjoys good wine, is selling off a 10th of the Elysee Palace’s cellar to raise funds.

The 1,200 bottles, which range in estimated price from 15 euros to 2,200 euros ($2,900) for a Petrus 1990, will be put up for sale tonight and tomorrow at Hotel de Drouot by auction house Kapandji-Morhange. The estimates of the lots add up to 250,000 euros, or an average of about 208 euros a bottle.

http://www.bloomberg.com/news/2013-05-30/french-president-to-sell-1-200-wine-bottles-amid-belt-tightening.html

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