Whisky Galore: Bottle ofBallantine’s whisky yieldedfrom the hold of the sunkenship, SS Politician, which ranaground off the coast ofEriskay in the Outer Hebrideson Feb. 5th, 1941 and subse-quently sank, with photo copyof press cutting relating todiscovery of this particularbottle. This is believed to bethe only wreck recoveredbottle unsullied by sea water.Gorringes, Lewes. Dec 08.HP: £2,200. ABP: £2,596.

Bowmore over 8 years old,Islay single malt whisky,distilled/bottled by Sherriffs’sBowmore Distillery Ltd.,Islay, 26 2/3 fl. ozs., 70degree proof, original carton& booklet. Tennants, Leyburn.Jun 11. HP: £660. ABP: £778.

Bottle of Glenlivet 50 yearold Scottish Highland singlemalt whisky, original case,certificate. Gorringes, Lewes.Jun 11. HP: £420. ABP: £495.

Macallan single highlandmalt scotch whisky 1950,cased. CharterhouseAuctioneers, Sherborne. Aug07. HP: £400. ABP: £472.

Bottle of Buchanan's special‘Red Seal’ whisky, withoriginal label. Gorringes,Lewes. Jun 11. HP: £380.ABP: £448.

Bottle of Glenlivet maltwhisky, limited bottling No286, 25yr old Silver JubileeReserve, George J & GSmith, 75% proof, frostedbottle, in a wooden caselined with red velvet.Charterhouse Auctioneers,Sherborne. Feb 10. HP:£360. ABP: £424.

Six bottles of Springbank 16year old single malt Scotchwhisky bottled 1993, specialbottling 51% ABV.Charterhouse Auctioneers,Sherborne. Feb 11. HP:£340. ABP: £401.

George J G Smith’s GlenlivetWhisky 1938. CharterhouseAuctioneers, Sherborne. Aug07. HP: £260. ABP: £306.

ANTIQUES INFO - September/October 12

Investing in Whisky John Ainsley

As we expand our Premier Online Database we have included Wines and Spiritsand here are thirty examples of whisky in the price range £2,600 down to about £20,

which has sold at auction in the last few years.

Although not a collector or investor my interest began about 40 years ago, when I

was posted to RAF Kinloss, in the north east of Scotland, home to the famous Avro

Shackleton and later the Nimrod, recently axed by the Government in the defence

cuts. The local town of Forres had two distilleries, the famous Dallas Dhu, now a

whisky museum, and Benromach, still in production. I paid a visit to this distillery

two years ago and was shown around by the English manager, David, now in love

with his job and the area. The processes of production were fascinating but two

things stuck in my mind from the visit. The first was how whisky should be tasted. A

small amount of water is added to the dram. This releases the aroma and the flavour.

The amount is critical and shouldn’t be over done. Secondly David told me that

unlike wine, whisky does not improve in the bottle with age. Once bottled, its fate

and its flavour is sealed! The value of a bottle will depend on the name. If famous,

such as Dalmore, Macallan or Balvenie, then this affects the value, but ultimately it is

down to rarity. As the stock of a particular year of any distillery goes down, the price

goes up. Whisky is an acquired taste, but is also down to the individual palate. My

favourite single malt is Glenmorangie. It is produced in Tain, Ross-shire, founded in

1843. Its water comes from the Tarlogie Springs in the Tarlogie Hills. It produces a

standard original single malt of 10 years and an ‘extra matured range’ of 12, 18 and

25 years. The casks used are ex-bourbon American white oak, subsequently used to

store Olorosso sherry, ruby port and sauterne. The distillery has an annual capacity of

six million litres. Collecting data from UK auctions in the four years up to 30th June

the top twenty distilleries in descending order who have produced collectable whisky

are: Dalmore, Macallan, Balvenie, Glenlivet, Port Ellen, Brora, Glenfiddich,

Bowmore, Mortlach, Ardbeg, Clynelish, Ben Wyvis, Glen Grant, Longrow, Talisker,

Lagavulin, Glenrothes, Laphroaig, Highland Park and Strathisla. In respect of the

total value of collectable bottles sold in the last four years, Macallan tops the list with

£1.2m. The most expensive single collectable bottle sold at a UK auction in the last

four years was a bottle of Glenfiddich, at just under £40,000. The highest average

price of a single bottle in the same period goes to Killyloch at just under £700. Over

the same period the highest % increase on a portfolio of bottles goes to Balvenie.

I visited the ‘Whisky Highland’ pages online. As with all areas of investment it

warns that putting your money into anything where the expectation is a gain in value,

carries inherent risks. As with shares, arts, wine or anything else the price can go

down as well as up. If you are interested in whisky as an investment, understanding

the subject - and understanding the investment are the main criteria on which success

will hinge. They suggest 3 investment principles. Firstly you have to have a passion

for the subject - or should I define this as a passion for whisky? If the market doesn’t

always go in the direction you would wish, then you have bought a sophisticated and

time proven product which you can enjoy. Then you will need patience. Whisky is a

long term investment of 10 or 20 years. Thirdly you should consider where you see

whisky in your portfolio ‘pyramid’ of investments. Do not invest what you cannot

afford to lose. I found an interesting investment feature on www.thisismoney.co.uk

written in 2009. Toby Walne suggests that whisky should be tried before we invest

our money, but this is rarely possible. He says resisting the temptation to open a

bottle can be the most challenging aspect of the investment. He lists a 50-year-old

Macallan which sold in that year for £11,750 at auction. It could have been bought in

1983 for £200, and a previous record, Dalmore which sold for £32,000 in Bagshot in

Surrey in 2005. One of only twelve bottles produced in 1943, it was bought and

drunk on the day by a business man with five grateful friends.

Andrew Bell is the whisky specialist with McTear’s in Glasgow. He says “If you

want to invest you must first have a love of whisky.... success comes from ‘passion

and patience’..... what you are after is simple, fantastic tasting drams... palates vary...

some prefer peat or smokey flavours..... others a grassy or sweet taste.” Sukhinder

Singh, director of The Whisky Exchange suggests we buy a bottle to enjoy and

another for investment. He says “Price tends to reflect quality and age” but older is

not necessarily better. “The value is more about rarity and quality.”

At 1 a bottle of Ballantine’s from the hold of the sunken ship SS Politician sold at

Gorringes in Lewes in 2008 for £2, 596. A rare and historic bottle may be worth a

fortune and yet be undrinkable. Check for the level of whisky in a bottle. If high this

is a good sign, but if the level has shrunk down to the shoulder or the label it may

have oxidised. Whisky should be kept at a constant temperature directly away from

sunlight and heat. If corked this should occasionally be wetted to prevent shrinkage.

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Talisker Isle of Skye purehighland malt Scotch whisky1957. CharterhouseAuctioneers , Sherborne. Aug07. HP: £190. ABP: £224.

Macallan single highlandmalt Scotch whisky 1964,boxed. CharterhouseAuctioneers, Sherborne. Aug07. HP: £180. ABP: £212.

Pride of Strathspey all maltOld Highland Scotch Whisky1938. CharterhouseAuctioneers, Sherborne. Aug07. HP: £180. ABP: £212.

Signed bottle of ArdbegCommittee Reserve singlemalt whisky, 55.3%, boxed.Charterhouse Auctioneers,Sherborne. Aug 09. HP:£180. ABP: £212.

Three bottles of Springbank12 year old malt whisky,private distillery bottling,56.5%, matured in bourbonthen sherry wood.Charterhouse, Sherborne. Aug09. HP: £160. ABP: £188.

Two bottles of 1975 Brorasingle malt whisky, 54.9%vol. Charterhouse, Sherborne.Feb 08. HP: £160. ABP: £188.

Three bottles of Springbank 9year old malt whisky, privatedistillery bottling, 57%,matured in bourbon thensherry wood. CharterhouseAuctioneers, Sherborne. Aug09. HP: £160. ABP: £188.

Bottle of 1968 SpecialReserve Knockando whisky.Charterhouse Auctioneers,Sherborne. Feb 09. HP:£140. ABP: £165.

Bottle of Highland Park 25year old malt whisky, 51.5%,in wooden box. CharterhouseAuctioneers, Sherborne. Aug09. HP: £130. ABP: £153.

Bottle of Macallan maltwhisky, 1861 replica, 42.7%,boxed. CharterhouseAuctioneers, Sherborne. Aug09. HP: £130. ABP: £153.

Bottle of 1970 Hillside singlemalt Scotch whisky, aged 25years, boxed. CharterhouseAuctioneers, Sherborne. Feb08. HP: £120. ABP: £141.

Bottle of Springback 12 yearold single malt scotch whisky,in original box with a bottleof Royal Salute 21 year oldChivas Brothers whisky.Gorringes, Lewes. Jun 11.HP: £100. ABP: £118.

Bottle of Black and WhiteScotch Whisky, with clip cap,probably 1930s.Charterhouse Auctioneers,Sherborne. Aug 11. HP:£100. ABP: £118.

Bottle of Gay Boy whisky.Charterhouse Auctioneers,Sherborne. Feb 09. HP: £90.ABP: £106.

Bottle of Macallan maltwhisky, The Golden Jubileeof The Queen’s Coronation,limited edition No 22/50, 15cl, 47%, bottled for TheWhisky Exchange London, inpresentation box.Charterhouse Auctioneers,Sherborne. Aug 09. HP: £80.ABP: £94.

Bottle of 1972 Linkwoodsingle malt whisky, 59.3%vol, limited edition No. 2757.Charterhouse Auctioneers,Sherborne. Feb 08. HP: £75.ABP: £88.

Bottle of 1980 Knockandosingle malt whisky, 40% vol,in wooden box. CharterhouseAuctioneers, Sherborne. Feb08. HP: £45. ABP: £53.

Bottle of Langs select ScotchWhisky, limited edition 530 of4000 made to commemoratethe Chinese year of the dog.Golding Young Ltd, Lincoln.May 12. HP: £38. ABP: £44.

Bottle of the Ashes ReturnHome Speyside Malt Whisky,boxed. CharterhouseAuctioneers, Sherborne. Aug09. HP: £25. ABP: £29.

Bottle of the Spirit of RobynHoode Single Malt Whisky ina porcelain decanter, boxed.Golding Young Ltd, Lincoln.May 12. HP: £24. ABP: £28.

Chivas Regal 21 Yr OldWhisky, in ceramic decanter.Charterhouse Auctioneers,Sherborne. Aug 07. HP: £20.ABP: £23.

Bottle ‘The House ofCommons Whisky’ signed byHugh Robertson MP.Kent Auction Galleries,Folkestone. Aug 06. HP: £10.ABP: £11.

Three Bells Whisky commem-orative decanters. Gorringes,Bexhill. Dec 04. HP: £25.ABP: £29.

ANTIQUES INFO - September/October 12

The prices quoted are actual

Hammer Prices (HP)

followed by the Approximate

Buyer’s Price (ABP) which

includes an average buyer’s

premium of 15% + VAT.

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ANTIQUES INFO - January/February 06 00

ANTIQUES INFO - January/February 06 00