Pouring Profits: Why Whiskey Is The Neat Alternative For Savvy Investors
A 30-year-old Irish single-malt whiskey that recently sold for $2.8 million is the most expensive bottle of whiskey ever sold.
The Craft Irish Whiskey Co. reported selling a bottle of The Emerald Isle for a record-setting price to collector Mike Daley, who has one of the largest private collections of whiskey in the United States.
The ovular decanter of The Emerald Isle is ensconced a walnut case alongside a Faberge egg containing an emerald, a custom timepiece and a pair of Cohiba cigars.
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"This world-first sale makes The Emerald Isle, already the rarest triple-distilled single malt in existence, the most expensive bottle of whiskey, or whisky, ever shared," the company stated.
Last month, Daley paid $2.7 million for a 1926 bottle of The Macallan, outspending the next-highest bidder by $100,000.
"I was on a luxury yacht during the Monaco Grand Prix, and I was surrounded by billionaires playing poker," Daley told Food & Wine magazine about his decision to purchase The Emerald Isle. "They would continually bet on hands even if they knew they weren't going to win. Because losing wasn't an issue. Losing face was the most important thing to avoid. This echelon of people is always going to want what other people can't have. So when it comes to whiskey, there's always going to be a market for something so extravagant and so rare."
As traditional investment avenues continue to face uncertainty, people with an appetite for risk and a penchant for unique investments are turning their attention to distilled spirits. Whiskey, in particular, has captured the interest of investors, with its value steadily increasing over the years.
One of the drivers behind the surge in whiskey investments is the growing global demand for premium and rare bottles. Whiskey enthusiasts, collectors and investors are looking for limited-edition releases, single-malt scotches and well-aged bourbons that provide sensory delight and hold the potential for substantial returns.
The scarcity of certain aged whiskies is a factor influencing their investment appeal. Distilleries produce limited quantities and specific vintages, and the rarity of the bottles makes them highly sought after by connoisseurs and investors looking to diversify their portfolios.
People who may not have the money to pour into a rare bottle like The Emerald Isle can still invest in wine and spirits through platforms like Vint, a platform where everyday people can invest in wine and spirits. Vint curates collections of investment-grade wine and spirits, securitizes them with the Securities and Exchange Commission and offers fractional ownership to investors.
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This article Pouring Profits: Why Whiskey Is The Neat Alternative For Savvy Investors originally appeared on Benzinga.com
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