The Élysée Palace sells off part of its wine cellar – Part Two
Of the 12,000 bottles in the Elysée Palace wine cellar, the head sommelier has decided to update the collection and is putting 552 lots comprising 1,200 bottles up for sale through the Kapandji-Morhange auction house at Drouot.
Cavissima analyzes the resale of the Elysée's wine cellar
Cavissima consulted the list of wines offered at these sales. It mainly consists of older vintages from the 1st Grands Crus of Bordeaux (Château Cheval Blanc, Margaux, Mouton Rothschild, Ausonius, Haut-Brion, La Mission Haut-Brion, Angélus, Palmer, Petrus), of the Grands Crus of Burgundy (Domaine Romanée Conti, Jadot, Bouchard Père et Fils, etc.), some champagnes (Clos from Mesnil de Krug and Salon), from Chateauneuf du Pape (domaine (from Vieux Télégraphe), dry Vouvray (Domaine Huet). Any resemblance to the Cavissima shop…..
Here's what the auction catalogue actually hides:
- Very old bottles having certainly an uncertain taste value: for example a Château Cap de Mourlin 1945 – Saint-Emilion Grands Crus at €90/100. - Mismatched wines The quantities are insufficient to guarantee delivery. These are therefore end-of-lot items, and some are very interesting. For example: Château Latour 1982 at €1000/1100. - A very large number bottles with slightly scratched labels or damaged and the unpresentable wines when served : 2 bottles of Château Palmer 1990 for 300/360€. - Of the bottles with a low level is quite suspicious: Château L'Angélus 1961 at €220/250 - Of the good deals : Petrus 1990 to 2200/2500€
What about the prices of the bottles on offer?
Overall, the prices listed in this catalog are fair and suggest a very successful sale. The accountant will be able to realize substantial capital gains because the difference between the purchase price and the resale price will be significant. We draw buyers' attention to the fact that the cellar of the Elysée It was renovated in 1995, at which time major work was undertaken to improve its preservation. We encourage enthusiasts to remain vigilant regarding older vintages of white wines, Burgundy wines, and Loire wines.
The proper management of a wine cellar This involves reselling the bottles before it's too late and the wine has passed its peak. It would be a real shame to let your wines die in the cellar.
The meeting is set: Hotel Drouot, 7 rue Drouot, Paris 9th. The sale will take place on Thursday the 30th at 7:30 pm for the 1st tranche and on May 31st at 2:30 pm for the 2nd tranche.