The Osaka Municipal Government made about ¥12.1 million at a recent wine auction, dealing away 155 high-grade wines that more than doubled its original investment.
The city spent ¥5.65 million buying wines to display in a wine museum housed in a cultural exchange facility that opened in 1995. When the museum closed four years ago, the bottles, including rare vintages, were left in the cellar.
Drawing the highest bids at Saturday's auction in Suminoe Ward were two French wines — a 1921 Romanee-Conti that fetched ¥1.5 million and a 1949 Chateau Petrus that sold for ¥980,000.
"We are relieved the total surpassed the purchase price. We want to use (the proceeds) for our residents," one municipal official said.
Sommelier Masaharu Oka, who supervised the auction, said the successful bids weren't competitive with the wines' market values but were reasonable nonetheless.
Officials said 22 people and nine vendors took part in the auction. Only two wines were not bid on, the officials said.
