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Issue 99 - Market Wobbles

Whisky Magazine Issue 99
October 2011

 

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Market Wobbles

Should we be concerned when the WMI falls? Jonny McCormick explains.

The WMI took its biggest monthly percentage fall in nearly two years. The WMI had been climbing upwards due to the growing number of whisky auctions, but there are signs that trading in lower value bottles is occurring. In July, McTear's staged their largest sale in nine months contributing more than 800 bottles to the WMI, though the grand total added to the WMI was less than half of last November's total. Certain lots struggled in their August sale such as the Springbank 50 Years Old which sold for £1,200 (£2,100-£2,200 last year) and the Highland Park John Goodwin 35 Years Old at £1,100 (£1,500-1,800 in 2010).

Consequently, the average price of whisky at auction has fallen by more than 15 per cent since January, WMI average prices experienced double-digit percentage falls and the WMI fell to its lowest since April.

AUCTION WATCH

While there were fewer star bottles, McTear's still pulled some magical bottles out of the hat in July. Multiple single cask Glendronachs, several bottles of the attractive Ainslie & Hebron Clynelish 12 Years Old and they conjured up a whole case of Sherriff's Bowmore (£6,100). The Macallan 10 Years Old released to mark the 10th anniversary of Whisky Magazine fetched £180. The abracadabra moment was when the Rare Malts Brora 1972 22 Years Old 58.7% clinched £1,200 capping the massive increase in price seen for malts from this distillery.

The August sale had a profundity of blended whiskies making up more than 20 per cent of the sale plu...

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