Being in the whisky business for over 20 odd years, I’ve had a number interesting, fascinating, difficult and sometimes, odd questions come over my desk.
But I thought I would share with one I got last week, and it’s a ripper…
“How can a Whisky cost can increase from $600.00 to $8,500.00?”
What a fascinating question!
Over the last 10 years or so, certain whiskies and distilleries, especially single malt whiskies from Scotland, have become highly desirable and hence, highly collectible. In particular malts that were originally distilled prior to the 1980’s, malts from closed distilleries, malts with advanced aged statements and malts that had limited production runs.
To put it into perspective, according to Rare Whisky 101, their icon index of rare and collectible whisky, has risen 450% from 2012 to 2020.
And this has been a global phenomenon, driven mainly by European and Asian collectors. Commensurate with this trend, has been the growth in auction sites specifically catering to this “exotic” whisky market, mainly located in the UK and Hong Kong.
And to give you an idea of how lucrative this current market is, one of Australia’s largest collectors of single malts, recently sold a portion of his/her collection to pay for a multi-million beachside house. Wow!
So, do you have something lurking the back of your cupboard. Maybe an old dusty whisky bottle that that your granny or grandad bequeathed to you?
So how do you go about identifying, if that bottle is either of value or a dud?