Why A Cask Of Whisky Just Sold For Almost $1.3 Million
While it's not unusual for bottles and casks of rare Scotch whisky to fetch high price tags in today's competitive global whiskey market, one recent auction price blew already elevated expectations out of the water. According to BBC News, a rare cask of whisky, which was recently uncovered at The Macallan distillery in Moray, Scotland, set a new record at auction this week. The pricey cask of The Macallan 1988, which was originally sold to its owner for just £5,000 (about $6,275) in the late '80s, had sat untouched in the distillery for 34 years after the buyer apparently forgot about their boozy purchase.
After the distillery reminded the buyer that the 374-liter cask was still maturing in the warehouse, the purchaser cashed in on the investment of a lifetime by putting the whisky up for sale. The auction, which was hosted on the Scotch whisky-focused auction site Whisky Hammer, drew enthusiastic — and deep-pocketed — bidders from around the world. The winning bid, which was made by an unidentified private buyer in the United States, landed at a whopping $1,295,500. The 1988 cask holds enough whisky to fill 534 700-milliliter bottles, giving each potential bottle a value of $2,426.
"When this cask was listed in our auction, we knew it had the potential to make history," said Daniel Milne, managing director of Whisky Hammer. "To come across a cask of this age, quality, and size is extraordinary in itself, enhanced by the fact the liquid was distilled at The Macallan, which is reflected in the global attention the cask has attracted."
The Scotch whisky distiller has set auction records in the past
This is far from the first time the revered Scottish whisky maker has fetched eye-popping amounts at auction. The recent hefty cask auction shattered the existing record for the highest price ever fetched by a stand-alone whisky cask at auction: $572,000 for a rare 30-year-old cask of Macallan sold in the fall of 2019 (via Bonhams).
More recently, another rare Macallan cask was sold at auction last fall for a record-setting $2.33 million; however, a specially-commissioned NFT was also included in the deal, which likely elevated the price tag (via Food & Wine).
The distiller also holds the record for the most expensive bottle of whisky ever sold: a hand-painted bottle of Macallan Fine and Rare 1926 that sold for $1.9 million in 2019 (via Forbes). That record-setting bottle shattered the previous single-bottle auction price record of $1.2 million, which was (unsurprisingly) also held by The Macallan (via The Spirits Business). The latest million-dollar cask deal is yet another indicator that The Macallan is the current undisputed king of the competitive high-value whiskey market. As for one lucky Scotch connoisseur: They'll be laughing about their forgotten 30-year-old investment all the way to the bank.