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Scotch malt whisky auction volumes soar 71% in UK

Collectors bought 21,617 bottles of Scotch malt whisky at UK auctions in April, May and June this year, compared to 12,638 in the same period in 2016 – an increase of 71%.

Rare Whisky 101 co-founders Andy Simpson and David Robertson

According to analysts at Rare Whisky 101 (RW101), the total value of Scotch malt whisky sold at auction surpassed £2 million in the period, during which the highest-ever bottle average price per bottle of £286 was recorded.

In total, £6.18m was spent on rare whisky at auction compared to £2.80m in the same period in 2016 – an increase of 121%.

In June alone RW101 witnessed 54% increase in volume and a 94% increase in the value of Scotch malt whisky sales on the secondary market compared to the same month in 2016.

“Any question as to whether the recent increases in the rare whisky market would begin to plateau can, for now, be summarily dismissed,” said whisky investment analyst and co-founder of Rare Whisky 101, Andy Simpson.

“Even we wondered whether the market could continue to expand at such levels, following another record braking year in 2016. The performance of Scotch malt whisky at auction over the past three months has been nothing short of phenomenal.

“The growing popularity of online auctions, combined with recent moves by traditional rare whisky retailers to set up their own auction sites, continues to drive demand. By joining the secondary market sector, these ‘bricks n mortar’ retailers have finally realised that they can’t afford to lose rare whisky customers to the auction market.

“Anecdotally we have seen growing demand from North America and Asia over recent times. We have also experienced a dramatic increase in enquiries from Asian and US professional buyers looking to set up new supply agreements to capitalise on this dynamically growing market.”

RW101’s half year report will be published later this summer.

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