(MercuryNews) - In headier times, some of these wines were served at dinner for French presidents and their guests—kings, queens, other heads of state. In today's times of austerity, the Elysee Palace is selling these vintage bottles.

French President Francois Hollande's palace has decided to dive into its wine cellar and sell some of its treasures, to raise money and replenish its collection with more modest vintages.

About 1,200 bottles—a tenth of the Elysee's wine collection—are to be sold at Drouot auction house in Paris on Thursday and Friday. Organizers say that prices may reach up to 2,200-2,500 euros ($2,845-$3,235) for a 1990 Petrus, down to 15 euros ($20) for a more modest wine.

"This is exceptional because this is the first time that the Elysee put its bottles on sale," Ghislaine Kapandji, the auctioneer, told The Associated Press.