Maybe the Shelby family on Peaky Blinders has inspired you to convert your love of whiskey into a hobby; alternatively, maybe you’ve always been a fan of the spirit and want to learn more about it. No of what prompted you to begin collecting whiskey, we hope these pointers prove useful.
The positive news is that whiskey fans and investors alike have never had it so good. Whiskey producers from all over the world have contributed to an increase in the number of bottles available. The prices are going up, too, so now is the time to stock up on your favorite vintage.
What Should I Do First?
Learn as much as you can about whiskey and make the most of every learning opportunity. The more you learn about whiskey, whether through books, websites, visits to distilleries, or attendance at whiskey festivals, the more options you’ll become aware of. What makes whiskey collecting so fascinating is the sheer breadth and depth of its expressions, both historical and contemporary. Along with total immersion, unwavering enthusiasm, and emotional investment, collectors tend to have an insatiable appetite for knowledge.
A Flourishing Whiskey Collection
It’s easy to get started on a whiskey collection, and it’s often best to select bottles that you already enjoy. It’s a good idea to stock up on the whiskies you already know you like, some of which may already be in your liquor cabinet. Collecting and drinking are not mutually exclusive activities, and your growing collection can help you try out new whiskies you’ve been curious about. Here are some suggestions to help you set and achieve your collecting objectives:
Which whiskies you buy to start your collection depends entirely on whether you intend to drink them regularly or use them as an investment. Many people see their whiskey collection as a way to combine a hobby with an investment opportunity.
Whiskies You Enjoy Drinking
When beginning a collection, it is best to start with whiskies that you like to drink. Just go with what sounds good to you. Your interests may evolve, allowing for a more eclectic collection to emerge organically. The very last thing you are interested in is to be left with a bottle of whiskey you don’t like to drink if it doesn’t turn out to be a profitable investment.
Whiskies That Share a Common Thread
Choosing a common thread is a simple method to narrow down your collection. You could want to get your hands on certain limited editions, commemorative releases, or uncommon bottles. You might even focus on whiskies from a specific region (Irish, Scotch, Japanese, etc.) or distillery (your favorite, a high-end producer, etc.).
Scarcity is crucial if making a profit is your primary motivation. Whiskey that is extremely difficult to obtain can fetch a far higher price than common whiskey; examples of this are a 1926 Macallan Fine & Rare or bottles from “lost” distilleries that have ceased production. Learn as much as you can about the history and production methods used to make whiskey. The more you learn about a product before buying it, the better off you will be financially.
The next time you’re at the airport, browse the duty-free stores for some ideas on what to buy. Many of them stock rare bottles, and by purchasing from them you can avoid paying high sales taxes on high-priced items. Touring local distilleries is always a great time on the road. Once the tour is over, you can browse their store for that one-of-a-kind bottle you’ve been dreaming of.
Many whiskey enthusiasts shop for new additions to their collections by browsing internet auctions. Think about joining a club where you can try rare and expensive whiskies you won’t find anywhere else. Or, if you have a particular distillery in mind, you could always look into joining their fan club; many of these establishments offer exclusive bottlings to their most loyal customers.
You can get started with your collection without resorting to overseas trips, pricey clubs, or whiskey auctions by visiting a retailer. You can obtain bottles to begin your collection at any store that sells alcoholic beverages.
A Guide to Proper Collection Storage
A whiskey collection, thankfully, is less vulnerable to spoilage than, say, a wine collection. Whiskey doesn’t go bad as quickly because of its higher durability. There are, nevertheless, some guidelines you should follow to ensure its longevity and monetary worth.
- Keep bottles out of direct sunlight and hot temperatures by storing them upright.
- Don’t mess up the package or label!
Methods for Safeguarding Your Collection
Since expensive whiskey isn’t typically covered by standard homeowner’s insurance, it’s a good idea to look into getting separate coverage. Insurance that covers loss, theft, and damage to your collection can be found with the advice of your family’s Risk Manager. Please visit the links below to learn more about our Private Client services and to locate a local expert if you are not already working with one of our specialists.
It’s Not All About Your Chronological Age
Keep in mind that whiskey’s age isn’t always indicative of quality while shopping for bottles. It’s possible to find some excellent whiskies that are less than 10 years old for significantly less money than their older equivalents without sacrificing quality. Investing in younger bottles from restricted or unusual production runs will yield the most returns.
Create a Financial Plan
Whiskey collecting, like any new pastime, can soon become very expensive. This is especially true now that whiskey can be purchased online around the clock. Therefore, it is recommended that you create a budget to help you control your spending.
Now that you know a few things, you can start or expand your whiskey collection. No worries if you’re not a fan of whiskey. Cognac, gin, and wine are just a few examples of other alcoholic beverages that have strong collectors’ markets. Whiskey collecting is a fascinating and lucrative hobby for connoisseurs and financiers alike. Whiskey collectors can indulge in a wide choice of historical and modern expressions thanks to the extensive availability of whiskies from throughout the world.
It is important to learn about the history and manufacture of whiskey regardless of whether you intend to drink it or invest in it. Having this information at your disposal will help you choose bottles with confidence. Have fun with it, and don’t be afraid to branch out and sample different whiskies as you go. If you follow the advice in this blog, you’ll soon have a collection that provides you pleasure and pride.