In our last post (click here) we wrote about the booming whisky investment market. Last year the value of whisky sold at auction rose by 34%. The whisky exchange. So, if you are thinking on investing in single malt whisky yourself, what do you need to know to invest in whisky wisely?
Investing in Whisky
First of all we have to point out that every whisky investor should follow the same guidelines when investing in any commodity or the stock market. The only difference with investing in whisky and stocks is that if the whisky market bottoms out, you can at least drown your sorrows! So, here are our 6 best tips on making money with whisky.
6 Tips To Invest in Whisky
- Buy only well-known distillery brands which are already being invested in by collectors and investors
- Buy either previously released, older bottles or new bottles immediately upon release
- Single malts from distilleries which are no longer in operation are a great investment. Their single malts will become rarer and rarer.
- Bottles measured in fluid ounces rather than centiliters generally more expensive. The fl oz mark is a sign of age.
- Try to find rare bottles and special editions. Visit distilleries and go to fares, there it’s possible to pick up cask-strength bottles and single cask with a vintage
- In time, find out about smaller distilleries which do independent bottling.
More Advice on Investing in Whisky
As with any market which see fluctuations in prices and demand there is always some kind of risk involved. Paying too much for the wrong bottle could lose you money.
Be careful of forgeries. Online internet sites are awash with empty bottles. Do you know why? People are now filling them up with cheap whisky and passing them off as rare and collectible whisky. So check out all the bottling very carefully first. Buy online line with great care.
Whisky which is kept at home as investment may have to be insured. Therefore, it’s a good idea to speak to your insurance company about this.
One of the most important tips on investing in whisky is to remember the difference between storing whisky and wine. Whisky doesn’t mature in the bottle, however it needs to be stored upright with no contact between the cork and the whisky.