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Scotch whisky prices jump as investors seek haven, FT says

Volumes have jumped by almost a quarter, the FT said, citing a report by Scottish investment bank Noble & Co. The increase in auction sales was mainly driven by bottles priced between £100 and £1,000, with that category seeing values rising 40% and volumes 30% in the first three quarters.

November 28, 2022 / 07:09 AM IST
Representative image.

Representative image.

The value of rare Scotch whiskies has climbed by more than a fifth this year as younger investors sought tangible assets amid volatile financial markets, the Financial Times reported.

Volumes have jumped by almost a quarter, the FT said, citing a report by Scottish investment bank Noble & Co. The increase in auction sales was mainly driven by bottles priced between £100 and £1,000, with that category seeing values rising 40% and volumes 30% in the first three quarters.

The report was conducted with data science company Brainnwave and tracked more than half a million auction transactions over the past decade. Choppy markets have bolstered demand for rare whiskies as alternative investments, the FT cited Noble as saying. Sales at investment firm Elite Wine & Whisky highlight that trend.

Elite saw demand spike after the UK’s “mini-budget” in September roiled markets, and its turnover has risen 70% so far this year to £17 million, the newspaper reported.