Is Whisky The New Gold?

Why Limited-Edition Whisky Is Suddenly The Biggest Status Symbol

 

 

"Whether it's a $250 pour of The John Walker at a high-end bar or a $1,250 bottle of The Glenlivet Cellar Collection 1973 for your own shelves, whisky has attained the "portable luxury" status of jewelry or watches."

If flying wingsuit YouTube videos are any indication, humans crave the new and extreme. That quest for chart-topping experiences may go a long way toward explaining the current thirst among whisky drinkers for rare blends and limited-edition vintage cask releases.

Demand for limited releases has increased sharply over the past few years. Last month, Bowmore (a peat-smoked Islay whisky) released a 12-bottle limited-edition Bowmore 1957, a "truly exceptional cask" set aside in 1995. One of the 12 (each featuring a hand-blown bottle and platinum stopper) was put up for auction October 10th, with a reserve price of about $160,000.
The Dalmore unveiled its 21-bottle Constellation Collection of individual vintages for $200,000. Macallan launched the third in its Masters of Photography collection, pairing original works from Annie Leibovitz with four special cask-strength whiskies for $2,750 a bottle. Four customized Macallan 1949 bottles from the brand's Fine and Rare Collection, each with a one-of-a-kind gallery-sized Leibovitz print, sell for $25,000 a bottle. Finally, The Glenrothes, a Speyside region distillery, discovered a few long-lost casks, unveiling a 1970 expression (limited to 179 bottles and dubbed "The Extraordinary Cask") at $5,000 per bottle.

"For many years, Glenrothes was known as a 'top dressing' single malt, used in blends because of its remarkable quality," David King, president of Anchor Distilling, which now owns and operates the distillery, said during a New York launch event for "The Extraordinary." "In 1994, we began setting aside 2% of our stock to make single malt under the Glenrothes name, so we really had very little from before that." An independent broker realized he had about 20 barrels of varying vintages tucked away, and offered them to the distillery. "We were delighted," says King. "Tonight, you are drinking a little bit of history," he said.

Why the fascination with these special releases? In the end, isn't it all just whisky?

It's Cheaper than a Lambo

"The guys in Vegas and New York get it," says King. "They want to do something fun and rare. It's a little slice of luxury, and luxury is more and more about experiences, rather than simply owning the shiniest toy." Whether it's a $250 pour of The John Walker at a high-end bar or a $1,250 bottle of The Glenlivet Cellar Collection 1973 for your own shelves, whisky has attained the "portable luxury" status of jewelry or watches.

"It's become a pretty popular thing to come in and say at least you've had a shot of The John Walker," according to Ray Nisi, owner of the Double Helix Wine & Whiskey Bar in Las Vegas.

It's Damn Good Juice

In many cases, the rare stuff actually is extraordinarily good (at least to hardcore whisky fans). Rachel Barrie, Bowmore's new master blender, waxes poetic about the 1957: "It's an otherworldly liqueur," she says. "There's no other aroma like it on earth. It's a moment in time, captured in a bottle." Likewise, Nisi says of The John Walker (which retails for about $4,500), a special expression of Johnnie Walker Blue Label, "It's hard to compare to anything else, because of the depth of its smoothness and smokiness, and the long, long finish." Nisi is quick to point out that age doesn't always equate to higher quality, and that you should drink what you like.

It's An Actual Rarity

Unlike an expensive unaged spirit (say, vodka or silver tequila), a single cask of vintage whisky can't be reproduced. Barrie -- who is crafting innovative new expressions for Bowmore, Auchentoshan and Glen Garioch -- notes: "Depending on the barley, and how we blend and age the whisky, there are something over 400 different aromatics that come through."

"It's like a rare wine," says Nisi. "Once they're gone, they're gone." King agrees: "At the Glenrothes, we've really struggled with finding enough old stock. We've never really had a huge amount of aged stock." 

 

Investment Potential

The concept of investment-grade whisky is increasingly popular and is no doubt an incentive in producing ever-more opulent whiskies. "These rare bottles of whisky are rapidly becoming a hot commodity in the alternative investment market, often outperforming luxury goods such as gold and diamonds," according to The Dalmore's rare whisky director David Robertson of the Constellation Collection.

"It's tricky," says Macallan's Ken Grier, director of malts. "We certainly don't make product designed simply to sit behind glass cabinets. That said, I've invested more of my own money in Macallan products than practically anything else."

Investment-grade whiskies are still a work in progress as a concept. The Bowmore 1957 failed to meet its reserve price of $160,000 at the October 10th auction (bidding rose to $136,000 before the hammer fell).

Whisky Fans Geek Out

A Macallan 25 or Johnnie Walker Blue Label is an excellent "destination" whisky. But more and more, whisky drinkers are expanding their horizons and their collections.

More bars are boasting extensive whisky collections and innovative tasting "flights," like Vegas' Double Helix with some 200 different whiskies, bourbons and ryes, or the new Flatiron Room in New York City, where the collection of labels and expressions approaches 400. If you like, you can buy a bottle of anything on hand at the Flatiron Room, and set it aside in a special locker for future visits.

The Elephant In The Room: Status

Throughout East Asia and on Wall Street, rare whiskies are increasingly becoming a symbol of economic rank. Open a bottle at a client dinner or gift one, and you're well on your way to closing the deal. This strategy can backfire, according to some. At many nightclubs, exclusive bottlings of well-known Cognacs are popular for bottle service, but one Chicago purveyor of fine wines and spirits says much of what is going on is "marketing and posturing. The brands might pay lip service, but it becomes more about the increasingly stunning bottle, and less about the cognac inside."

Some Cheaper Options For You Paupers...

If you left your millions in your other pants, you can still score excellent limited-edition whiskies that won't break the bank:

Auchentoshan Valinch 1999 Bordeaux Cask Matured: Scotland's only triple-distilled malt whisky released this intriguing vintage last year. Sweet, creamy and complex, non-chill filtered and cask strength, it provides an intriguing departure from many cask-strength whiskies and arrives at a wallet-pleasing $70.

Aberlour 12-year Non-Chill Filtered: Most Scotch whiskies are chill filtered to reduce the cloudiness that happens when Scotch is allowed to sit. Chill this, add water and let new release from this Speyside distillery sit for a bit, and watch it turn a hazy pilsner yellow, thanks to non-soluble fatty acids. Perfect for pairing with pork dishes or lazy outdoor evenings. About $70

Glenrothes 1978: Another special vintage release showcased during the 1970 Extraordinary launch event, the whisky is big and bold, with notes of spice, pepper and apricot, with an earthy, spicy nose. At $695, it's a good deal cheaper than the $5,000 1970, and is truly delicious.

Johnny Walker King George V Edition: On its release, this limited release invoking the blending style marketed in the 1930s during the reign of King George V sold for about $600. Though the release is no longer on the open market, search hard enough and you may find a bargain.

Credit : Ask Men