For the first time in their history, Paris pawn shops have agreed to take bottles of wine in exchange for cash. Over 350 bottles with a total value of £45,000 have been pawned, inlcuding a 5,000 Euros, Domaine de la Romanee Conti. The initiative was launched by Crédit Municipal de Paris, the local authority pawnshop, which usually deals in family heirlooms & pieces of jewellery. The wine is to be stored in the 18th-century cellars under the Crédit Municipal building. Bernard Candiard, president, assured his potential customers that the cellars are perfect for storage of wine, with 80% humidity & a constant temperature of between 12-13ºC. He hopes to store up to 90,000 bottles until the owners redeem them. 'We've been amazed by the response,' Vincent Vogt, communications director, told decanter.com. 'The most expensive bottle so far has been a 1985 Domaine de la Romanée Conti, that has been valued at 5,000 Euros' The minimum value for wine is 60 Euros, for which the client will receive 50%. The Credit Municipal has been running for 230 years,& each year receives around 140,000 clients. Around 93% of items are eventually returned to their owners. Wine that is not redeemed, i.e. bought back by its owners - is sold at auction.
