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Macallan Dominates Auctions As Fakes Worry Collectors

Macallan has remained the most sought after single malt by collectors despite the re-emergence of concerns surrounding fakes.

The iconic Speyside distillery have led the rare and old market for the first half of 2017, with 12.71 percent of all trades – which is up from 2016’s 10.26 percent according to 2017 Half Year Collectors And Investors Single Malt Scotch Review by Rare Whisky 101.

In terms of value Macallan also dominates, with 28.9 percent of the value of all trades in the first half – up from 21.85 percent in 2016.

Overall, the rare and old whisky market has seen a boom in the first half of 2017, according to Rare Whisky 101’s figures. In the UK overall auction house bottles sales saw an increase of 47.25 percent to 39,061 from the same time 12 months prior. The value of collectable bottles saw an even more staggering increase, rising 93.66 percent to £11.167 million (AUD$18.1 million), the per-bottle average now £286.13 (AUD$465).

Whether the latest incidents will place any nervousness amongst investors remains to be seen

Islay distilleries remain strong, with Ardbeg (2), Bruichladdich (3), Bowmore (4), Laphroaig (5) and Lagavulin (6) taking the next six spots in the volume rankings. They are also present in the overall market value top ten with, Bowmore (2), Ardbeg (3), Port Ellen (4), Lagavulin (5), Laphroaig (7) and Bruichladdich (10).

The exceptional growth in volume and sales may be tempered by the re-emergence of concerns regarding fakes. In August it was alleged that a 1878 vintage Macallan, available by the pour in Switzerland’s St Moritz hotel, was a fake. A Chinese tourist paid CHF9,999 (approximately AUD$13,000) for a 20ml pour before experts online raised questions of the authenticity of the bottle.

The hotel promptly pulled the bottle and began an investigation, which – as ScotchWhisky reported –  led to Macallan themselves pulling bottles from their own public display.

The distillery have their own archive display of historical bottles on public display, a result of a buying spree that owner Edrington went on in the 2000s. A large number of the rare Macallans that flooded the auction market in the ‘90s and ‘00s were subsequently revealed to be fake.

Whether the latest incidents will place any nervousness amongst investors remains to be seen and will likely not be known until 2017’s full year results are released.

COLLECTABLE SINGLE MALT WHISKY SCOTCH FIRST HALF OF 2017 FIGURES

FY 2016 = Rankings from 2016
HY 2017 = Rankings from the first half of 2017

OVERALL VOLUME OF SALES

hy-2017-volume

OVERALL VALUE OF SALES

hy-2017-value

Figures sourced from 2017 Half Year Collectors And Investors Single Malt Scotch Review.

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