(NYTimes) - The dreaded phantasm of economic austerity has finally knocked its bony fingers on the door of the Élysée Palace, which announced on Tuesday that it would auction off 1,200 bottles of its finest wines, renew its cellar with “more modest” vintages and return the surplus to the state budget.

 President François Hollande, a Socialist who was elected a year ago, has made a point of trying to be a “normal president” and contrast his simpler style with the “bling bling” image of his predecessor, Nicolas Sarkozy. He has trimmed the presidential and ministerial fleet of cars, and has cut ministerial salaries. 

But the wine cellars of the Élysée are rightly famous for showcasing the best of French wines. And while Mr. Hollande has offered guests a knowledgeably chosen selection of more modest wines, selling some of the older stock is a bit like selling grandmother’s silver.