Whisky auction users can be fractionated into four general types; drinkers, collectors, investors and speculators. This fourth group have greater opportunities than ever to exploit the global demand for desirable and collectible whiskies which has fuelled the bottles are swapped or sold on the island, but with alacrity, they are being impatiently offered online before they are in the hands of the seller. Bottles are bought with the express intention of auctioning them as quickly as possible. This is the equivalent of day-trading on the
Bottles are bought with the express intention of auctioning phenomenon of new-release flipping. Take an event where new limited edition whiskies will be released such as Islays Feis Ile. Queues for festival bottlings start earlier and grow longer every year and some stock exchange, but it circumvents distillery shop and retail operations on pricing from whisky producers enabling eager collectors to compete for a limited number of bottles in markets where the numbered editions were never available. Is this simply supply and demand through natural market forces driven by our attraction to novelty or is there a wider cost? Perhaps. Ultimately, this practice leads distillers to realign their launch prices of limited editions to curb this activity. However, producers risk vocal criticism potentially harmful to their brand image if they set prices too high and at this point, you've probably just thought of the same examples as me. The auction houses are hardly to blame as business is business although many auctioneers are trying to placate vendors against setting unreasonably high reserve prices.
?All Shook Up
?A round up of the auction world
September 2013, Issue 114
Small or Far Away
Jonny McCormick examines life in miniature
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Ask The Expert
I have been left two bottles of whisky which have been in a cupboard for more than 13 years. Can you tell me how old they are? Are they worth anything or should I drink them as I am partial to a drop ...
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The stills may be silent but it is back in the WMI, Jonny McCormick celebrates
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Glenfiddich puts in a serious challenge, observes Jonny McCormick
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