Are you rich? No? Well, that’s your own stupid fault: you should’ve bought up a few cases of rare whisky years ago, dummy.
Yes, according to the latest report from the Knight Frank Luxury Investment Index, the best investment in the luxury space – meaning those investments that wealthy people make in things wealthy people like in order to become even more wealthy – is rare whisky. Who’d have thought, right? But it’s true: whisky beat out pretenders like coins, stamps, cars and wine, with a return on investment of nearly 600 per cent over a ten year period.
Bradley Wolfe of online whisky retailer WhiskyDirect says the surge in whisky value is partly due to economic growth, and concomitant growth in demand, from Asian countries, particularly China. Another factor is auctions, where whisky-coveters compete to show just whose determination to get the desired drop is the greatest.
Wolfe says that even in this superheated rare whisky market, canny investors can still profitably enter the game by taking a punt on an emerging distillery.
However, it should be noted that, although rare whisky has proven a bonanza for a lot of people in recent years, thanks to their farsighted decision to buy up big, it’s an investment not without risks. I mean…it’s still just bottles of whisky, when it comes down to it.