As the new year starts, are you considering whisky investments in 2023? Last year was a busy year for both bottle and cask investments. And if you're thinking about exploring whisky investments, here are five plus five things to think about.
Five things to think about when investing in whisky bottles
- Do your research. Work out what your target distilleries or bottles are. Look at historic values through 2021 and 2022. Look at under-performers as well as out-performers, so you get a balanced view.
- Aim for limited editions. This is easier said than done as the real limited edition releases can often be ballot-only. But, limited editions tend to perform better than mass-release editions, for the simple fact that demand often outstrips supply.
- Don't overpay. Ideally, pick up bottles at recommended retail price. But if you do buy on the secondary market, work out what a fair price is. Set a budget. And then stick to the budget. It's all too easy to get carried away on, for example, auctions.
- Go for quality bottles. However you define quality, try to get your hands on the best possible releases. Think about distillery names, age statements, bottling strengths, and cask styles.
- Keep your investment safe. Use good couriers, with insurance. Store them somewhere safe, out of direct sunlight, and in stable conditions.
Five things to reflect on when investing in whisky casks
- Similar to bottles, please do your research. Make sure you find a credible whisky cask broker whom you trust. Look at reviews, check Trustpilot ratings, and ask for company registration details and licence numbers.
- Work out how much you can comfortably spend. Casks are likely to be more expensive than individual bottlers. Work out how much money you can comfortably put into, and then keep, in whisky investments. You should be thinking a few years into the future.
- Don't overpay. Again, similar to bottles, it's vital you pay a fair market price for your whisky cask. Ideally, sense check price lists, and get a second opinion.
- Get ownership. Different cask brokers work in different ways. In some cases, they retain ownership of the cask, on your behalf. This can cause issues if the company ever goes into financial difficulty. So, make sure that the cask is your legal property.
- Think about storage and insurance. You can't keep your cask at home (sorry!). It has to be stored in a government-backed bonded warehouse. Make sure you factor the storage fees into your thinking. And, factor in insurance. Insurance will give you that extra safety net, just in case something happens.
Interested in whisky investments in 2023?
If you're interested in exploring whisky cask investments in 2023, we'd be pleased to help. Spiritfilled is an expert cask broker. We're fully licensed by the government. And we're trusted by happy clients all around the world.
Whatever 2023 brings, we wish you a happy, healthy and successful 2023!