Rare malts go down well in Edinburgh

The auction achieved 95% sales, illustrating the strength of the market and that demand for rare and collectable whisky continues to grow healthily, says Martin Green, who heads Bonhams Whisky Sales in Edinburgh.

In September 2007, a sale Green organised achieved a world record auction price for a bottle of whisky — £28,750 for a rare 19th century bottle of Bowmore.

Among the top performing brands at Bonhams' latest sale were: Ardberg, Bowmore, Glenfarclas, Highland Park, Lagavulin, Laphroaig, The Macallan, Mortlach, Rosebank, Springbank and Talisker. They all fetched very healthy prices.

Highlights of the sale included:

• Glenmorangie 1963, £500;
  
• Macallan Royal Marriage, £500;
  
• Mortlach 50-year-old 1936, £550;
  
• Macallan 31-year-old 1938, £740;
  
• Ardbeg 1975, £440;
  
• Caol Ila 15 year-old Manager's Dram £540;
  
• Glenfarclas Anniversary £1170;
  
• Macallan 25-year-old 1957, £815;
  
• Laphroaig 40-year-old £1055;
  
• Bowmore Bicentenary £695;
  
• Bowmore (Sherriff's), £695; Port
  
• Ellen Malting 21-year-old, £1500;
  
• Rare Highland Park 12-year-old, £1860;
  
• Jameson Irish-Bonded 1885, £815; and
  
• Johnnie Walker early 20th century, £985.

Green, who has had 20 years in the industry, says: “I started whisky auctions in 1989 and (Bonhams) Whisky Sales celebrated their 10th Anniversary in 1999.

“The first ever dedicated whisky auction took place in Glasgow during December 1989. The highlight, a rare blended example, fetched £3,300.

“December of 2009 will mark the 20th anniversary of my whisky sales,” he says.

In the late 1980s and 1990s the auctions soon became established as an annual event attracting global interest. By 1995 the market demanded a biannual auction and international collectors flocked to these events, which provided like minded enthusiasts with the opportunity to meet and visit the distillery country.

Supply and demand has driven these sales to become a quarterly event in Scotland.

Says Green: “Some of the single malt expressions — which have become highly desirable among whisky enthusiasts who collect — have proven that buying whisky as a speculative investment can deliver increased value in the long term.

“In my experience, those people who have treated buying whisky as a long-term investment of 10 years and longer have gained the most.”

Source: Business Day

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