For the first time in history, pawn shops in Paris that normally only accept antique family heirlooms are accepting wine. According to experts, the Credit Municipal de Paris is located in a building that “happens to have 18th century cellars below ground, providing the perfect storage area for the pawned wine.†Recently, a bottle of Domaine de la Romanee Conti was hocked for €5,000.
Ooh La La! I'm ready to dust off that bottle of Dom Perignon 1959 that I've have been hording since Jackie Kennedy was First Lady and run off to Paris to see what the market will bare. It will probably cover my airfare and a trip to the Louvre.
Pawning Wine
Paris Hock Shops Accept Wine
Trend Themes
1. Wine Pawn Shops - Pawn shops are expanding their accepted items to include high-end wines due to the special cellar storage available in some locations.
2. Pawning High-value Items - Pawn shops are expanding the range of high-value items they accept to include luxury wines, providing a disruptive opportunity for wine collectors to access immediate funding.
3. Alternative Forms of Financing - As traditional financing becomes more difficult to access, the wine pawn shop model offers a new opportunity to quickly secure funds using high-value assets.
Industry Implications
1. Wine - Wine collectors and connoisseurs can leverage the emerging wine pawn market to conveniently secure financing with the added benefit of storage and cellar conditions.
2. Pawn Shops - Pawn shops can attract new clientele and expand their offerings by accepting high-end wines as collateral for loans or outright purchases.
3. Luxury Goods - The incorporation of high-value wines into pawn shops could spark the creation of more specialized luxury pawn shops, providing an avenue for financing and acquiring unique high-end pieces.