Whisky Collection 2024: How to Start and What to Consider

Whisky Collection: How to Start and What to Consider — Image Source: unsplash

Embarking on a Whisky Collection Journey

Embarking on a whisky collection journey involves understanding the evolving landscape of whisky collection. Vietnamese businessman Viet Nguyen Dinh Tuan’s US$16.7 million collection, comprising 535 bottles, including one of the world’s only complete Macallan Fine & Rare collections, was added to the Guinness World Records list in 2019. Additionally, Isabel Graham-Yooll's collection is made up of bottles she’s worked on, along with personal favorites.

The appeal of whisky as a collectible item is evident in the increasing popularity of investing in whisky. Sotheby’s Spirits Specialist Jonny Fowle emphasizes the importance of considering age statement, rarity, storage, and design when starting a whisky collection. The allure of starting a whisky collection lies in the fulfilling nature and personal significance it holds for enthusiasts.

Exploring the World of Whisky

Embarking on a whisky collection journey involves delving into the diverse offerings from independent bottlers. This includes exploring well-aged single-malt bottlings, discovering highly collectible bottles that are less than 10 years old, and appreciating innovative and critically acclaimed offerings from new bottlers. For example, the 2022 edition of the Bushmills Causeway Collection saw a bottle that cost €90 in Australia in October 2022 selling for €1,300 at auction.

Understanding the value of whisky is essential for collectors. Fine-tuning preferences through sampling various whiskies allows enthusiasts to develop a discerning palate. Seeking rare bottlings and interpreting limited editions adds an element of excitement to the collection process. Evaluating the quality, rarity, and value of whisky is crucial in making informed decisions when adding to a collection.

Explorations such as a tour of Highland Park distillery on the Orkney Islands in Scotland, experiencing whiskey in the Snug of the Palace Bar in Dublin, or uncovering three Bourbon whiskies to unlock the story of America provide valuable insights into the world of whisky collection. Additionally, understanding record whisky auction prices can teach new collectors about market trends and potential investment opportunities.

Considerations for Starting a Collection

When starting a whisky collection, it's important to consider the cost and storage implications. The variability in the cost of starting a whisky collection can be influenced by factors such as the rarity and age of the bottles. In 2021, 44% of Sotheby’s luxury items sales were by new younger buyers, indicating an increasing interest in collecting valuable items like whisky. Proper storage is crucial to preserve the quality of whisky over time, ensuring that environmental factors do not compromise its flavor and value.

Navigating whisky auctions is another aspect to consider. Finding rare and collectible bottles through auctions can be an exciting way to build a unique collection. However, it's essential to conduct thorough research before participating in auctions to make informed decisions. Isabel Graham-Yooll, Auction Director of Whisky.Auction, emphasizes that the best way to start a whisky collection is with bottles and brands that hold personal significance. Additionally, Charlie Thevarajah, a whisky enthusiast and tastings provider, highlights that he buys whiskies to drink, enjoy, and discover.

For example, "The Fantasy Whisky Collection – How would you spend €5,000?" provides insights into how collectors might allocate funds when building their collections. These examples and expert opinions underscore the importance of meaningful curation based on personal preferences and enjoyment.

Navigating the World of Whisky Collection

As enthusiasts navigate the world of whisky collection, personalization and fulfillment play a significant role in shaping their collections. For example, Heather Storgaard has curated a collection of bottles with 'heather' in their name, reflecting a personalized and meaningful approach to collecting. This highlights the importance of starting a collection based on personal significance. Sam Simmons, Atom Brands’ head of whisky, emphasizes that emotional reasoning should be associated with whisky collection beyond commodity trading.

Millennials are increasingly aligning with the values of whisky collection. The welcoming and friendly nature of the whisky category has resonated with this demographic. Richard Gooding’s The Perfect Collection, which had a final hammer price of US$9.1 million (£6.68 million), included a Bowmore 1964 Single Cask 35 Years Old. Additionally, Thomas Ohrbom, a Nordic whisky blogger, has been charting the rise of the north through his collection and insights into the industry.

The fulfilling nature of whisky collection goes beyond mere acquisition; it's about curating an experience that holds personal meaning and emotional value. Examples such as "is Glen Scotia reinventing Campbeltown?" showcase how collectors engage with the narrative and evolution of distilleries. This underscores how whisky collection is not just about accumulating bottles but also about being part of a dynamic and evolving community.

Embracing the Whisky Collection Experience

The whisky collection experience is a journey of understanding and appreciating the artistry and craftsmanship behind each bottle. It goes beyond mere acquisition, offering enthusiasts the opportunity to delve into the rich history and diverse flavors of whisky. Being part of a community of whisky collectors adds an extra layer of allure, providing opportunities for shared experiences, knowledge exchange, and camaraderie. The value of whisky collection extends beyond the bottles themselves; it becomes a personal and enriching experience that reflects individual tastes, preferences, and memories.

For instance, Pat’s Whisk(e)y Collection, the largest private whisky collection in the world to be sold at auction, stood at 9,000 bottles and reached a total of US$4.5 million over the course of 14 months. Additionally, experiences such as walking inside a mountain in Japan to explore maturation tunnels provide unique insights into the world of whisky.