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Last Updated : Apr 13, 2019 03:35 PM IST | Source: Moneycontrol.com

Passion investment: Single malt whisky top choice for wealthy Indians

India is the third largest collector of whisky, with 31 percent UHNWIs citing the beverage as a passion led investment

Suyash Maheshwari @Suyashm9

Single malt whisky is the top choice for passion investment among ultra-high-net-worth individuals (UHNWIs), surging 40 percent in price over 12 months, according to the Knight Frank Luxury Investment Index (KFLII).

The massive upshift in price was highlighted by the most significant sale of 2018, when a unique bottle of Macallan 1926, hand painted by Irish artist Michael Dillon, was sold for a record-breaking 1.2 million pound. The value of the beverage has increased by over 582 percent in the last decade.

The alcoholic beverage has witnessed an incredible rise in value, particularly in Asia as sales of Scotch whisky in India, China and Singapore rose by 44 percent, 35 percent and 24 percent, respectively, in the first half of 2018, with single malts totalling almost 30 percent of the total exports.

"Indian UHNWIs prefer whisky as a passion led investment whereas globally, the preference is more skewed towards wine. Whisky is increasingly taking shape as an alternative investment class for Indians who appreciate not only the taste but also the prestige that comes with collecting rare bottles of whisky," said Shishir Baijal, Chairman and Managing Director, Knight Frank India.

whisky index

As per the survey, India is the third largest collector of whisky, with 31 percent UHNWIs citing the beverage as a passion-led investment.

Wine followed, albeit not so closely, with 14 percent Indian UHNWIs opting for wine for passion investment.

Coins, art, watches, cars among others were also seen as seen a viable passion investment option by the UHNWIs.

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First Published on Apr 13, 2019 07:40 am
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