Auctions & Events: Market Watch: Whisky's a Go-Go

Oliver Slosser
06/01/2009

Art and precious gems and metals are usually the first things that come to mind when considering goods that will not just hold their value over the long haul, but steadily increase. Add now to that another steadfast commodity: whisky. At a Bonhams whisky auction held in Edinburgh, Scotland, in March, buyers not only sent in a large number of presale bids, but followed up on the day of the sale by purchasing 97 percent of the lots available, for a total sales figure of $135,697. Though an investor would have a hard time finding the quantity of whisky needed to invest large sums into the market—the record price for a whisky sold at auction was achieved in September 2007?, for a $57,850 bottle of 19th-century Bowmore—the results of this recent auction evince the resilience of the aged spirit. Similarly, at a March auction held by Christie’s, three lots of Prohibition-era American whiskey (the "ey" spelling denotes that they were not produced in Scotland) achieved prices of $1,320 each, respectably within their presale estimate. When considering value, Martin Green—a whisky specialist and consultant for Bonhams—says, "The value of wine sales are much higher, but whisky doesn’t go off, and it doesn’t have good years and bad years. It is steady."

Bonhams, www.bonhams.com; Christie’s, www.christies.com

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