Whisky made in 2020 ‘most valuable in history’By Nicola Carruthers
Casks of whisky produced in 2020 are forecast to be highly valuable in the coming decades due to the industry’s drop in production.
Cask whisky investment company Whiskey and Wealth Club predicts that this year ‘marks a significant time for the history of the whisky industry’.
The company said the value of whisky is based on three factors: age, brand and quantity produced. The Covid-19 pandemic forced many distilleries to shut temporarily earlier this year.
Trade body the Scotch Whisky Association said in a statement on 14 May during the first lockdown that “87% of production sites are either operating at reduced capacity or have closed entirely”.
As such, the amount of spirit produced this year has been significantly reduced, making it the ‘smallest production year based on production capabilities in the history of whiskey’, the cask investment firm noted.
The decline in production means the value of whisky produced in 2020 will ‘become increasingly rarer in the years to come’.
Whiskey and Wealth Club said that owners of 2020 casks are part of an exclusive group of investors. In 15 to 20 years’ time, it will be a profitable asset to own a bottle or cask of whisky that was made in 2020, the firm said. It is also important to buy this whisky from a well-known brand and the longer the owner waits to sell it, the more it will be worth.
Jay Bradley, founder of Whiskey and Wealth Club, said: “We have never been in a situation where whisky production all but completely ceased. The whisky produced in this turbulent year will be highly valuable in the next 15 years.
“Investors and whisky enthusiasts would be wise to invest in 2020 whisky as you’ll be buying a significant part of whisky history.”