Economic woes dampen demand at Burgundy auction (France)

Economic woes dampen demand at Burgundy auction (France)

A sale of Burgundy wine at the world’s biggest charity auction Sunday drew lower bids than in previous years as economic jitters hit home. The sale of the so-called President’s Lot is a highlight of the annual “Hospices de Beaune” auction, at which rich wine enthusiasts bid for fine Burgundy wines in a yearly sale whose proceeds are donated entirely to charity. But economic worries crimped enthusiasm at Sunday’s sale. Most auctioned bottles drew less than their expected bids, while the President’s Lot — a 460-liter barrel — raised 110,000 euros, reports Reuters.

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