The President's Barrel at this year's Hospices de Beaune wine auction in Beaune, France went for $249,297.

The Hospices de Beaune auction is a major event for Burgundy region producers

The sale is hosted by Christie's and has been running annually since the mid-1800s.

Each year proceeds from the sale of a single barrel (in this case a Corton Bressandes Grand Cru) go to charity.  

This year a total of $8.9m worth of Burgundy wines were sold. That's around 25% less than the record breaking sum made in 2015 but a solid result in what has been a difficult year for wine producers in the Burgundy region.