Can you imagine paying over half a million dollar for scotch on the rocks? Probably not. But someone in Hong Kong, which has matured as a market for fine wine and spirits, paid more than $628,000 to get his hands on a bottle of whisky. The transaction has set a new world record for the most expensive single malt whisky sold at an auction. Half a million mark has been breached for the first time. The previous record was held by a 64-year-old bottle of Macallan single malt that sold for $460,000. It also highlights the trend of high end whisky gaining in stature and becoming a viable alternative investment to fine wine.
Only 4 Pieces of the Crystal Decanter Were Ever Made
This Macallan “M” whisky is very special and rare but even more special is its bottle that has added substantial value to the whisky. The 28 inch bottle is a faceted crystal decanter designed to hold 6 liters of single malt scotch. Only four such pieces were ever made. Made by the French glass company Lalique, each bottle took 17 craftsmen over 50 hours to make by hand. The bottle is rare, unique and exclusive. The whisky it holds is also special as it has been blended from seven different casks by the Scottish distillery over a period of two years. The company has confirmed that the oak casks ranged in age from 25 to 75 years old.
The Proceeds of the Sale Will Go to Charities
The auction was held by Sotheby’s in Hong Kong over last weekend. The experts had set the estimate in the range of $258,000 to $516,000. The Asian markets and particularly Hong Kong has matured. The buyers have become more sophisticated and knowledgeable. Robert Sleigh, head of wine, Sotheby’s Asia believes that high-end whisky is increasingly being viewed as a viable alternative investment to fine wine. The auction, according to Sotheby’s was held for a noble cause as all the proceeds of the sale of the “M” Decanter will go to the benefit of various charities in Hong Kong. The trend is encouraging and it is likely that it will not be long before the new record is broken.