The whisky market has experienced considerable price increases over the past decade. This trend isn’t limited to standard core offerings; even super-premium bottles are now being sold at exorbitant prices. Understanding this phenomenon requires delving into the key elements that contribute to whisky’s desirability.
In this article, we will explore eight renowned brands that have recently made a significant mark in the industry.
What Makes a Whisky Expensive?
The main factors influencing whisky prices are age and rarity. Prestige also plays a role, as some distilleries and whisky brands are more sought after than others. Whiskies that have aged successfully are exceptional; many don’t last long enough to be considered rare, as they are often utilized in younger core expressions, thus enhancing their scarcity.
Rarity includes bottles from now-defunct distilleries that will never produce whisky again. As the years pass since a distillery’s closure, the existing stocks become increasingly valuable and desirable.
Brora
Brora distillery, located in the northern Highlands, closed its doors in 1983, leading many to believe it was the end. However, after nearly four decades of silence, Brora has resumed operations, thanks to a substantial investment from Diageo, which aims to restore the distillery to its former glory.
The first new spirit was produced in May 2021, but it will take several years for new offerings to appear on the market.
How Much Does It Cost?
Brora Triptych
Pre-1983 bottles are still available, although stocks are nearly depleted. To commemorate the reopening, a limited set of three whiskies called The Brora Triptych was introduced, featuring whiskies distilled in 1972, 1977, and 1982. This exclusive set has a retail price of £30,000.
Dalmore
Dalmore, another gem in the north Highlands, is among the most prestigious single malt brands globally. Over the past twenty years, its whiskies have garnered widespread admiration, thanks to the expertise of Richard Paterson OBE, the Master Blender at Dalmore for nearly 50 years.
Known for his exquisite expressions, Paterson often utilizes ex-sherry casks to create whiskies with rich, bold, and fruity flavors.
How Much Does It Cost?
Dalmore 21 Year Old
Dalmore’s limited releases are highly sought after and fetch extravagant prices. Bottled vintages often command thousands of pounds, while the newly released Dalmore 21 Year Old is priced at around £575, which, in context, might be considered a relative bargain.
Glendronach
Located in rural Aberdeenshire, the Glendronach distillery is celebrated for its robust spirit and high-quality ex-sherry cask usage.
Interest in aged and rare Glendronach expressions has surged, although it wasn’t always this way. Historically regarded as a supplier to blending houses, a change in ownership has shifted Glendronach’s focus to single malts in recent years.
How Much Does It Cost?
Glendronach Batch 11
Glendronach releases a batch of vintage bottlings each year, with heavily aged single casks carefully chosen from their warehouses. Occasionally, these are accompanied by small-batch limited editions like the Grandeur series. The latest release, Batch #11, at 28 years of age and natural cask strength, has an RRP of around £700.
Karuizawa
The Japanese distillery of Karuizawa has attained legendary status. When it closed in the early 2000s, Japanese whisky was not held in high regard, and Karuizawa suffered from this lack of recognition. Nevertheless, it has experienced a remarkable resurgence and immense success.
The remaining stocks were sold and rebranded, leading to the release of increasingly rare and costly bottles.
How Much Does It Cost?
Karuizawa 38 Year Old Cask #7582
Limited remaining stocks from Karuizawa have skyrocketed in price, starting around £25,000 per bottle. The Karuizawa 1960, one of the rarest and oldest whiskies ever released, sold for an astounding $635,000 at auction.
Macallan
Macallan is perhaps the most sought-after Scotch single malt worldwide. This Speyside distillery has grown to be one of the largest in Scotland, producing an impressive 15 million liters of whisky annually.
Macallan’s marketing has been robust since the 1980s, particularly dominating markets in America and Asia, and notably being James Bond’s whisky of choice during the Daniel Craig era.
How Much Does It Cost?
Macallan James Bond 60th Anniversary Whisky – Decade III
Among its exclusive offerings is a commemorative collection for the 60th anniversary of James Bond, featuring six bottles, each inspired by a different decade of the franchise. However, buyers should prepare for a hefty price tag—around £2,600 per bottle. Additionally, Macallan has collaborated on unique bottlings with well-known artists, photographers, Michelin-starred chefs, and even luxury car brand Bentley.
Springbank
Springbank distillery has cultivated a passionate following among whisky enthusiasts. Renowned for its exceptional, award-winning whiskies crafted in small batches with traditional techniques, the distillery faces challenges in meeting growing consumer demand.
With production quantities kept low, prices for Springbank whiskies have surged higher than those of many competitors.
How Much Does It Cost?
Springbank 25 Year Old
Recent releases have become scarce, driving prices up; the Springbank 25 Year Old currently retails for £2,000, while core releases start at around £75.
Pappy Van Winkle
Pappy Van Winkle bourbon retains its title as the most sought-after and costly American whiskey. Its rarity and demand result in staggering prices at retail and auction.
The original distillery ceased operations in the early 1990s, and remaining stocks are nearly vanished. Production has now shifted to Buffalo Trace, in collaboration with the Van Winkle family.
How Much Does It Cost?
Pappy Van Winkle’s Family Reserve 23 Year Old
Each year, only a limited number of Pappy Van Winkle bottles are released, igniting a frenzy among collectors. Prices for the 10 Year Old start at around £850, while the 13 Year Old is priced at £1,500 and the 15 Year Old at £2,300. Given their rising popularity, these prices are expected to increase further.
Port Ellen
The Port Ellen distillery, situated on the renowned Scottish whisky island of Islay, closed in March 1983 and was subsequently demolished, eliminating any chance of its revival.
Consequently, as stocks mature and become scarce, prices have steadily increased. However, similar to Brora, Port Ellen will be reopened with distillation poised to start in 2023.
How Much Does It Cost?
Port Ellen 1981
Once regarded as an expendable asset, Port Ellen is now a coveted distillery. Whisky enthusiasts eagerly anticipate the quality of its upcoming new releases. The most recent bottling, the Port Ellen 1980 Vintage 41 Years Old, is priced at £9,500.
In conclusion, the escalating prices of whisky reflect a combination of heritage, rarity, and craftsmanship. As brands like Brora, Dalmore, Glendronach, Karuizawa, Macallan, Springbank, Pappy Van Winkle, and Port Ellen continue to captivate the market, collectors and enthusiasts alike will remain engaged, often with wallets at the ready for their next prized acquisition.
