The coronavirus crisis had already put many restaurants in very difficult situations. In the meantime, some restaurants looked at selling some of their most valuable assets to compensate for the revenue declines and challenged bottom line. The three-michelin-star Manresa restaurant in the tony Los Gatos community of south of San Francisco did decide to sell their rare bottles of wines:
And so Rollston made the decision to sell wine. “I really wanted to open up the entire list for collectors to take advantage of, as I had fielded plenty of requests over the years for some of the hard-to-get wines we had accumulated.” And he made the choice to sell the list below open-market or restaurant dining room prices—even letting rarities from the cellar go for less than they would on the secondary market. “We had to get some cash flow quickly,” he says. “I contacted some of our regular guests who were collectors, and we had a tremendous response. Numerous Bay Area collectors came forward to support us as our world turned upside down.”
At COENA, this story made us think about whether restaurants really know the value of their wine cellar. Some of them are probably sitting on a gold mine without even knowing it. But how do you know at a glance the value of the inventory within your wine cellar ? How could you known the value of all bottles of champagne ? Reds from Bordeaux ? Dessert wines ?
That’s an easy question to answer thanks to our inventory/stock management module. Available on the iPad, any sommelier or F&B Manager can see at a glance the overall value of his wine cellar, or filtered by colour/region: