Most people in the United States insure their house for a value under $225,000 and their car for a value under $25,000. The owner of a Chateau Margaux 1787 insured his most prized wine bottle for $225,000 and William Sokolin is very thankful he did.
Chateau Margaux 1787
The Wine Merchant
In 1989, Sokolin, a New York wine merchant, had a bottle of Chateau Margaux 1797 on consignment from its English owner. The wine bottle was encrusted with the initials of Thomas Jefferson on it and was over 200 years old.
The Accident
Sokolin took possession of the wine bottle in an attempt to sell it for five hundred thousand dollars ($500,000). Wine enthusiasts and collectors believe that the bottle did not exceed the price of a 1787 Lafite which sold for $160,000 at auction, however assumed that this was Sokolin's successful attempt to generate publicity for the wine bottle.
Sokolin decided to take the bottle of wine to a Chateau Margaux dinner at the four seasons restaurant. While at dinner, as Sokolin was preparing to leave, a waiter carrying a coffee tray bumped the bottle, breaking it on the floor. Fortunately for Sokolin, and the owner had the foresight to insure the valuable bottle. After the dust settled, the insurance paid $225,000 for the broken bottle, which Sokolin shared with the owner. It is unsure what happened to the careless waiter.
