Money Woes

Paris Landmark Seeks Cash

Open since 1582, Paris restaurant La Tour D’Argent is one of Europe’s oldest restaurants, with a world-renowned wine cellar—but not for long. In a fundraising effort, the restaurant will auction off some of its nearly half-million bottle wine collection. “All the luxury sector has been hit hard, and we haven’t been spared,” said André Terrail, the owner of La Tour D’Argent. “Every [wine] has come from our cellar, has only made one journey in its lifetime, and has been handpicked,” said David Ridgeway, the restaurant’s sommelier. “I would rather people enjoyed it, rather than collecting wine for the sake of it,” he said. And others agree. “With a legendary cellar like this, it’s probable that we’ll see Russian and Chinese among the prospective buyers,” said Alexis Velliet, chief auctioneer at Piasa. The auction is scheduled for December.