You will have seen in the media that Whisky is currently enjoying a purple patch, with auction prices hitting all time highs. If you have seen this and have decided that whisky collecting is for you, then please see below a few things that you should consider. Note:As with any investment you should only invest if your finances are in order. The value of your collection can decrease as well as increase.
What to buy
There are no set rules, but it is your collection and as such collect what you like. This can be at distillery level, regional level, by age, by year produced, limited editions or distilleries that are closed or no longer in existence. Rarity and exclusivity are important as this will have an impact on future values.
Condition
Whatever you buy it is important that the condition is as good as possible. This relates to the bottle, label, capsule or cap and the outer box.
Research
Once you have decided on the theme of your collection you should research the market in order to establish the best way to source items. This will help you find the best products at the best price. It is also worth subscribing to whisky blogs and following social media to find out about new and limited editions for your collection.
Where to buy
There are several ways to buy items for your collection. At auctions, in specialist whisky shops, direct from the distillery and from online shops and market places such as Amazon. Wherever you choose to buy remember to take into account buyers fees, commissions, postage costs and duties if buying from overseas.
Storage
Whisky should be stored upright and not on its side as the alcohol can degrade the cork which can result in undesirable flavours being transferred to the whisky. It should also be stored away from direct sunlight and fluctuating temperatures. Where possible try to ensure that your bottles are stored in a way that will protect the condition of the item ideally in sealed boxes or cartons.
Insurance
You should ensure that your collection is properly insured and as such you should inform your insurance company who will give you guidance on this.
Genuine items
It should also be noted that if you are buying an old bottling then in most cases it should not look brand new, if it does this may be a sign that it is not genuine. Buying from reputable sources will reduce your chances of buying an item that is not genuine. If buying at auction only bid if you are happy that the item looks right. If in doubt, do not buy or consult an expert.
These points are for guidance only and are in no way to be deemed as advice.