What is the difference between Whisky and Whiskey ?
Very simply it’s a minor spelling difference indicating country of
origin, whisky is from Scotland (traditionally) and Whiskey is from Ireland.
An understanding of buying and selling Whisky
There has been a lot of articles in popular media recently about whisky
prices going through the roof and it can be difficult separating some of
the media hype from the fact.
It is important to understand how this happened, so we can then
understand how to value whisky without all the associated propaganda.
It is true that there is an ever-increasing number of whisky drinkers
entering the market and this tends to push up demand for both current
release, matured and older versions of whisky.
Also true is that, until the mid-2000’s, nobody ever thought there would
be such a massive demand for aged whisky, so only a small number of the
forward-thinking distilleries put away tiny stocks to mature slowly over
25,30 and 50 years, not wishing to wait those years for a return on
investment.
When demand increased for whisky in general it put pressure on current
release prices and distilleries suddenly found an eager market for their
aged stock, charging an ever-increasing premium.
This also caused speculators to enter the market and put further upward
pressure on the price of old whisky. In 2018, the stock of old whisky is
almost depleted, but the demand has not let up and keeps getting stronger.
Subsequently there is a growing trend among distilleries to release stock
without age statements, claiming that it gives the producers more leeway
in crafting more creative whisky. For just under a decade the same
distilleries have been marketing the benefits of aged whisky and now, when
the stocks are almost out and it will be many years before the next batch
of aged stock is ready, they have reversed tactics and are increasingly
silent on the benefits of old whisky.
Buyers who want older whisky to drink are turning to auctions and pushing
the price up to astronomical levels in some cases.
See our comprehensive guide to Australian Whisky Auctions or get a valuation of your whisky.
The Age difference of whisky, the difference between aged and matured
whisky
One very important aspect to understand before bidding at auction is that
a bottle of 50 year old whisky is VERY DIFFERENT to a bottle of whisky
that was bottled 50 years ago.
Whisky matures in a wooden cask, imparting flavour over the years. The
age statement reflects the youngest whisky in the bottle, the minimum of
which must be 3 years. However, once bottled, it does not change in
character nor does it deteriorate (as long as it has been kept out of
direct sunlight).
People are buying older bottlings of whisky because they can have
slightly different profiles. Flavours can change over the decades when
local sources of water vary in quality, stills need to be replaced, types
of cask will vary, and ingredients will all vary slightly each decade. So,
a bottle of 12 year old Glenlivet bottled in 1960 will possibly have a
different taste to one bottled in 2017 and as such becomes desirable to collectors and speculators alike.
Valuation guidelines
When buying, avoid pricing in a speculators premium, only value it for
what you think it is worth based on your own personal tasting experience
or from what you have been able to research.
Also bear in mind that when selling your bottles in Australia there is
only a very small market compared to overseas and the prices bid will be a
fraction that is achieved elsewhere.
Rare and old Whisky
Just because something is aged or is old does not mean it is valuable.
Poor quality whisky that has been aged in an old tired barrel will not be
better off released at 12 or 50 years of age regardless of the marketing
or fancy bottle. Do your research and search online for tasting notes and
reviews before committing valuable resources.
Bottles become rare when they are opened by drinkers and not because they
are being held in a warehouse in huge quantities by people hoping to make
a profit by reselling it.
Whisky speculators
In recent times, as whisky started to gain in popularity, several
speculators reasoned that there was a limited supply of aged whisky and
started to buy them up. This will pay off for them in the long run as the
supply has now dwindled (it doesn’t help that the speculators purchased
and stored by the pallet load either). However, this will keep the price
up of popular and aged brands for some time to come and current release
aged whisky will have a built-in premium factored into the price.
Finding value and price information online
Valuing whisky online can be difficult as there has been minimal
consolidation of information online and most of the information is held
tightly by small cadres of collectors who, knowing what they prefer, look
for bargains at unsuspecting auction houses.
Retail prices should never be used as a guideline for value as they
typically add a minimum mark up of 40% to cover costs and much, much more
if there has been considerable hype surrounding the bottle in the media.
The retail market consists of customers who do not do their research and
depend on hearsay to value what they see in store or online.
Any bottle of whisky, wine, cognac, brandy or rum is only worth as much
to the person buying it as they feel it is worth and you should NOT be
buying for investment unless you know what you are doing and are comfortable with a potential loss.
Where to sell your Whisky collection
You cannot sell bottles of alcohol (even if they are collectible) on eBay
or Gumtree unless you have a liquor license.
The best avenue are specialist wine and whisky auction houses, such as
Wickman’s, who are licensed to deal in bottles of alcohol and
who have large followings of collectors and enthusiasts who look to the
website each auction hoping to find something interesting.
Further information if you are responsible for disposal or maintenance of a whisky collection as an asset.
Make an enquiry about selling your whisky bottles at auction.
Steps to selling your whisky bottles at auction
- Write a list
- Send the list to a reputable whisky expert for valuation
- Decide which bottles you wish to sell and which you wish to keep
(note that if you decide to change the original list significantly it can
impact on the offer you were made)
- Arrange the logistics of getting the bottles to auction
- Take photos of the collection before packing, sometimes it adds a
distinctive touch to the sale and connects you with the buyer and can
prove provenance.
- Pack your bottles and associated packaging in superior quality
containers if you are shipping interstate (packing tips and hints)
- Make sure you have provided all necessary documentation regarding
provenance when you send the bottles in (include it in the box(es))
- You should receive a statement prior to auction listing
- When the auction launches social media promotion. helps
- When the auction ends you should receive a statement.
- Make sure you have provided all your relevant information
List of Highly Traded Whisky at Auction in Australia by Volume
Guides for Selling Whisky Online
Recommended Online Resources for whisky tasting and understanding whisky
values
What should I do next ?
If you would like to place your whisky at auction, please send an email asking for
a no obligation, free valuation of your wine. See the following page for more
information about selling your whisky bottles
at auction.