Irish government to auction off wines

The Irish government is set to follow its UK and French counterparts by selling off some of the wine in its hospitality cellar.

Tanaiste and foreign affairs minister Eamon Gilmore has decided it is no longer appropriate for the Irish government to buy or own “expensive” wine in light of the country’s economic troubles.

After reviewing his department’s wine policy Mr Gilmore has decided that any wines in the cellar valued at over €30, should be sold off. Wine experts have deemed around one-third of the 2,343 bottles in the cellar to be “tradable” and these will be put on the market.

According to media reports that entire wine collection is valued at €77,767 and it will be bottles valued at €30 or less which will be kept by the government to be served at official receptions and functions.

The Irish Independent reported that a source said: “”Once Eamon came in and figured out what was happening in his department, he ordered a review of the spending policy.

“They have only dipped their toe in the market, they have approached wine dealers in the UK and Ireland to suss out interest but they wouldn’t go so far as to put a price on it.

“They haven’t made a decision on whether to do this by auction or dealer.”

The source added: “They hope to exact the same value or maybe more.”

Wines that will be sold include 31 bottles of Chateau Lynch Bages Grand Cru Classe, 1998, which were bought for €58.65 in 2005, 22 bottles of Chateau Leoville Barton Cru Classe 1997 bought for €75 and 33 bottles of Kirwan Margaux 2000, which were bought for €65 each.

As recently reported in the drinks business, Chinese collectors were quick to pounce on the first batch of wines that the French government sold recently.

A recent sale of the UK government’s hospitality cellar saw six magnums of Domaine Leflaive Montrachet from 2005-2010 make £76,050.