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District Board Seeks Public Input on Reforming Election Law

The St. Croix District Board of Elections is seeking public input regarding reforming Title 18, chapters 1 to 29. This…

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Half a dozen young people, local artists and music producers have created a peace song for Carnival 2014. To read more about the song, click here.
 

 
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A Taste of St. Croix and Innovative to Present Awards to Culinary Juniors

A Taste of St. Croix Committee in partnership with Innovative has announced the presentation of $2,000 in awards to St. Croix schools to help nurture student interest in the culinary industry.

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2015-05-28 13:13:17
Casino Commission Gets Involved in Racetrack Disagreement

Legal counsel for the Flamboyant Horsemen Association and TRAXCO argued for a delay, or dismissal, in a hearing regarding their  agreements to the Randall “Doc” James Racetrack on St. Croix.

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2015-05-28 00:11:18
UVI to Host Accreditation Visit for Its School of Medicine

The University of the Virgin Islands (UVI) will host a preliminary accreditation survey visit by the Liaison Committee for Medical Education (LCME) for its School of Medicine from May 31 to June 4.

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2015-05-27 23:46:41
Local news — St. Croix
Nothing Beside Remains: Prosser Wines Sold Off

Former Vitelco owner Jeffrey Prosser's wines were auctioned off Saturday. (Bill Kossler photo)
Former Vitelco owner Jeffrey Prosser's wines were auctioned off Saturday. (Bill Kossler photo)

The remains of bankrupt former Vitelco owner Jeffrey Prosser's St. Croix wine collection were sold at auction Saturday at Quality Foods in Castle Coakley, for a fraction of their market value in good condition.

Prosser purchased millions of dollars of wine with company money while owner of Innovative and Vitelco. He purchased $6 million in wine with one credit card, from one wholesaler, from 1999 to 2006, putting it on a company credit card in his name that was then paid off by New ICC – and ultimately by Vitelco and Innovative Cable TV ratepayers.

The wines sold Saturday were from Prosser's Estate Shoys residence. A court ordered inventory in 2008 found 980 bottles with an estimated worth of about $491,000. In 2011, a second inventory found 453 bottles worth $139,000 missing. A wine expert tested six bottles of the must durable wines among the remaining 527 bottles, initially valued at $212,000, and "testified that none of the wines located at the Shoys Estate were marketable or had any sale value," according to the bankruptcy court's opinion sanctioning Prosser for misconduct.

Auctioneer Stan Crooks from Auction America first took bulk bids for the entire collection, then took bits for individual lots, in case the individual lots fetched more cumulatively than the entire collection. A representative of Food Town supermarket bid $17,000 for the entire lot. That sum was exceeded during the second round of bidding, when more than half the bottles were sold, so the wine was sold in individual lots to a dozen separate bidders, purchasing for private collection and consumption.

Crooks said he would not have final sales totals for a few day. But the manner of bidding resulted in lower bids for subsequent lots, so the wine sold later in the auction fetched progressively less per bottle as bidding proceeded. So since more than half the bottles were sold when the $17,000 threshold was reached, the final tally must be between the $17,000 and twice that amount – $34,000 – and probably closer to the lower end of that range.

Among the nicer selections available Saturday were several lots of Chateau Petrus Pomerol, including several 1982 vintages nominally worth thousands per bottle, and a lot of 10 bottles of 1986 Chateau Y'Quem Sauternes, a highly prized white dessert wine that tends to age very well.
 

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