Could whisky auction give sniff of opportunity to investors?
Patrick Atack
Europe;UK

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Whisky casks, like those seen here in Scotland, can fetch as much as $70,000 at auction. (Credit: Cask Trade)

Whisky casks, like those seen here in Scotland, can fetch as much as $70,000 at auction. (Credit: Cask Trade)

Casktrade, a London-based Scotch Whisky 'broker' will launch the world's first online cask auction in January. 

In the 12-day online event, individuals can bid on (full) casks of whisky, that might otherwise be unavailable or at least very hard to find. 

According to Simon Aron, the firm's "Collector," there are two main reasons to buy an entire cask - even if it might set you back as much as $70,000. 

"You look at it in two different ways: one is mainly to enjoy the whisky [or] collect the whisky for a financial return," he told CGTN. 

The entrepreneur said the "graduation" to cask collection came after he built up a collection of several thousand bottles. 

"Bottles can be quite cumbersome, especially when you get up into the thousands of bottles, as I've been collecting". 

But it's not just lovers of the Scottish spirit that are lining up for a place at the auction, Aron said. Investors are looking at cask whisky as a safe place to store their money, and watch it grow. 

"People are looking at it from an investment point of view, if I'm buying a four-year-old or five-year-old whisky for £2,000-£3,000 [$2,600-$3,900] now, I know that I've got to hang on to it for five years, so a long-term investment. But it's very profitable, because by that time you've got a 10-year-old beautiful whisky from a distillery in Scotland, in good wood, that's been checked," he explained. 

 

Watch the video of CGTN's full interview with Cask Trade. 

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