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Single malt Scotch value at auction soars 94%

The value of collectible single malt Scotch whisky bottles sold on the secondary market increased by an enormous 94% in the first half of this year, with The Macallan now accounting for £300 of £1,000 spent at auction.

Andy Simpson and David Robertson, co-founders of RW101

According to figures released by rare whisky analyst Rare Whisky 101 (RW101), the market for rare whisky in the UK experienced a record rate of growth in terms of both value and volume in the first half of 2017.

The value of collectible bottles of single malt Scotch whisky sold at auction in the UK hit £11.176 million, compared to £5.771m in H1 2016. The average price of a bottle of single malt sold at auction was £286.13 in H1 2017– last year, it was £241.87.

The number of bottles of single malt Scotch sold at auction in the UK increased by 47.25% to 39,061, compared to 26,527 in H1 2016.

Andy Simpson, who co-founded RW101 with former Macallan master distiller David Robertson in 2014, said the market for rare whisky has never been so strong, and he expects the value of Scotch whisky sold at UK auctions to break the £20m barrier this year “for the first time ever”.

He added: “At a brand level, individual producers are continually pushing the prices of their premium aged stock. Couple this primary market price inflation with increased global demand and declining stocks of discontinued bottles, and we still look to be in the ‘perfect storm’ for the right bottles to continue to appreciating in value.”

The Macallan is the most popular whisky sold at auction

“Of course, as with any investment asset experiencing such a run, it all could come to an end. But right now, the right bottles of Scotch seem to be in ever increasing demand. With so little significantly aged stock still maturing in the cask, it’s unlikely we’ll see prices easing for rarities in the short- to medium-term.”

The most expensive bottle of Scotch whisky sold in the UK in January-June this year was a 50-year-old Macallan in Lalique, which fetched £65,210 – up from the previous best of £17,000 in 2015.

According to RW101, The Macallan now has a 12.71% volume share of all bottles sold and a 28.9% share of the value – up from 10.26% and 21.85% respectively in FY 2016.

Japanese whisky has become an attractive investment proposition in recent years. But in RW101’s Icon 100 Index (a basket of 100 collectable bottles of whisky) Scotch increased by 6.56%, while Japanese whisky dropped 4.41%.

RW101 previously warned that the huge increase in the value of rare Japanese bottlings, such as Karuizawa, was not sustainable. Nevertheless, in February 2016, a bottle of Karuizawa 1960 was sold for £100,100 in April 2017, setting a new UK and European record price for a bottle of Japanese whisky.

The bottle was part of the world’s largest known collection of Karuizawa, which set a new world record for the most expensive range of Japanese whisky sold at auction after fetching almost £770,000 (US$985,000).

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