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Facing A Budget Crunch, French President Sells Wine

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Facing A Budget Crunch, French President Sells Wine
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Ferran Adrià isn't the only one raising funds by selling off the famous elBulli wine cellar. French president Francois Hollande is following suit by auctioning off 1,200 bottles of fine wine from the presidental palace in Paris.

Hollande decided to sell the wines from Elysee Palace as part of a government-driven austerity move. The wines are mainly from Burgundy and Bourdeaux and are being sold anywhere from $20 to up to $3,000 a bottle.

The auction began last night and will continue throughout today at the Drouot auction Hall in Paris, the Strait Times reports.

Although the president has been criticized for selling what is considered part of France's patrimony, the auction is expected to generate at least $325,000 that will enable the purchase of new younger wines, according to NBC News.

Some of the most coveted wines in the auction are the 1990 Petrus, the 1998 Meursalt Premier Cru and 1975 Chateau Lafite Rothschild.

Related: The Great French Wine Infographic

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