Why alternative investment in rare whisky is booming


Investment in old, rare and exclusive bottles of whisky is booming, according to analysts.

In the U.K. alone, the value of collectable bottles of Scotch sold at auction broke a record high of £11.18 million ($14.34 million) in the first half of 2017 – a rise of 94 percent from the first half of 2016 – according to a report published Friday.

Whisky brokerage and investment experts at valuation firm Rare Whiskey 101 said that the number of bottles of single malt Scotch whisky sold at auction shot up by almost 50 percent since the first half of the previous year.

“The market is in good health, the bulls remain in firm control. Supply is increasing significantly but increasing demand continues to push prices higher for the right bottles,” Andy Simpson, broker and consultant at Rare Whisky 101, told CNBC via email on Friday.

A 50-year-old single malt brand, Macallan, was the most expensive Scotch sold in the first half of the year, selling for £65,210 ($83,656) – up from a previous high for the brand of £17,000 ($21,808) in 2015.

Source link

Products You May Like

Articles You May Like

Airbnb (ABNB) earnings Q4 2020
Use the 1% marginal gains rule, says performance expert
Salesforce (CRM) earnings Q4 2021
Domino’s Pizza (DPZ) Q4 2020 earnings miss projections
Best Buy (BBY) earnings Q4 2021 beat projections, but sales gains slow

Leave a Reply

Your email address will not be published. Required fields are marked *