US Rare Whisky Sale at an All Time High
Whisky lovers are all praise for scotch in a barrel-- the older the better. This year has seen a 100 percent rise in rare whisky sales in just three months. A whisky business analyst recently reported the sales of rare malts over the first half of 2017. He found that between April and June, UK auctioneers sold collectible whisky worth £6.18 million. This marks a 121 percent jump from last year’s £2.8 million over the same sale period.
The phenomenal figure is attributed to the 71 percent increase in the number of bottles sold over the April to June period – 21,617 bottles were sold in 2017 from 12,638 bottles last year. According to the Dunfermline-based analysts, however, the growth in scotch value had exceeded its increase in volume. A whisky bottle on average was sold £69 more than in the first half of the previous year, at £286.13.
A 50-year old Macallan Lalique reaped £65,210, making it the most expensive whisky sold during the period. Currently, Macallan reigns the premium whisky resale market in the UK, with about 10 percent market share.
RW101’s co-founder credited the remarkable performance this year to online auctions. In his words, the growing popularity, “...combined with recent moves by traditional rare whisky retailers to set up their own auction sites, continues to drive demand.” He believes that the offline, “bricks n mortar” whisky vendors could not afford to miss out on buyers of rare whisky from auctions.
The recent growing demand of rare whiskies in Asia and North America has additionally helped the market achieve such heights. He remarked that professional whisky patrons from the two continents were “looking to set up new supply agreements to capitalise on this dynamically growing market.”
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Before you drain your pockets on that rare scotch or single malt, you might want to think twice as there is a chance that it might be fake. Whisky piracy is a problem on the rise and according to Rare Whisky 101, is seen ‘pretty much weekly’. The vast majority of fakes are still Scotch single malts: The Macallan, Ardbeg, Glenmorangie, Laphroaig, Bowmore, The Glenlivet, but collectable Japanese and American whiskies are now being impersonated, too. With the price of premium malts ranging from $400 to $87000, it’s clear that whiskey has become a lucrative business and with that has come a growing counterfeit market.Read More
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