Every other month it seems as if a new bottle has broken the record for being the most expensive whisky in the world. With more and more people turning to collecting or investing in whisky, more than ever is being sold, with some nights seeing more bottles change hands than whole years have in the past! While some may argue that there is no difference between being a collector of whisky and being an investor, others argue that true collectors are not in it for the potential returns, but rather for the joy of completing their personal collection. We take a look at the difference between collecting and investing in whisky.
There isn’t just one set way to ‘collect’ whisky. How you choose to build your collection will depend entirely on your personal preference, such as which whiskies you like drinking or what structure you wish your collection to take. Some collectors will, for example, only obtain bottles from one particular distillery, whereas others might seek out complete sets from Scotch whisky series. If you should ever turn your collection into an investment, then having a full set of a particular whisky range is a sure way to make their worth rocket. On the other hand, some collectors will opt to simply amass a vast quantity of whisky bottles, each one open and ready for drinking!
This is where the true spirit of collecting can trump whisky investment, as it allows your passion for the drink to form the collection around your own personal taste, rather than having to decide based on what can get you the most money 20 years down the line!
Collecting purely for the joy of gathering a collection of whiskies also means that you should have no guilt about cracking open a bottle for a delicious dram each evening. It can be a somewhat emotional experience, with each bottle holding meaning and significance.
With online auctions running around the clock, it is now easier than ever to get involved with whisky investment. Investments are also no longer limited by geographical locations either, with whisky fans in Asia or America able to bag a bottle from a Scottish auction via the web, and vice versa.
While there are many bottles of whisky out there that are now too in-demand for the average investor to even dream of getting their hands on, there are still plenty of bottles available at more reasonable prices that are still set to increase in desirability. This is particularly the case with limited edition or special edition runs, where there will be less competition, and therefore more demand, when it comes to future resale.
With Scotch Investment Funds recently set up and soaring returns, it appears that now is the best time to get involved in the whisky investment hype. If you have some rare or unique bottles in your collection, then taking the time to get them valued at an auction house, or checking recent sale prices for similar items online, is the first step if you are considering selling some of your bottles. If you are collecting for investment reasons, then it can also be a good idea to get your bottles insured to help reduce monetary loss, should one of your whisky bottles be damaged.
As investment is such an integral part of the whisky industry at the moment, many investors and collectors can relax a little. Most bottles are bought to be resold, meaning that if you miss out on the one bottle you’re after, the likelihood is that it will appear on the market again shortly.
Do you prefer collecting or investing in your whisky? Let us know you’re thoughts in the comments below!