The Whisky Auction Market: A Slump in Sales
The rare and fine whisky market has been experiencing a downturn, according to a recent report by Noble & Co. The Whisky Intelligence Report, in partnership with Brainnwave, reveals a decline in auction volumes, prices, and sales value. This trend is attributed to broader economic pressures, including inflation and interest rates.
Auction scene
The report highlights a 30% drop in auction volumes from January to April compared to the previous year. The average price per bottle fell by 8%, and significant declines were observed in higher price brackets, particularly in the £1,000 to £10,000 range. However, there is a silver lining – the percentage of unsold bottles remained steady, and there is an increased emphasis on buying and selling more affordable bottles (£100 to £1,000), which accounted for 90.4% of volumes traded.
Glenfiddich bottles
In terms of brand performance, Glenfiddich showed the fastest growth in auction sales value (97%) among larger distilleries, while J. & G. Grant – Glenfarclas had the highest growth in auction sales volume (59%). Conversely, The Macallan took a 48.3% dip in value and a slightly larger amount in volume, although it remains the top brand on the auction market by a wide margin.
Whisky bottles
The report concludes that there is no sign of recovery in the auction market yet, citing inflation, interest rates, and an increase in available bottles of new releases, which dilutes their secondary market prices.
Auction scene
The whisky auction market is struggling, and it remains to be seen when it will recover. One thing is certain – the market is changing, and whisky enthusiasts must adapt to the new landscape.
