Whisky tasting straight from a barrel? My first experience was back in 2015.
My wife and I toured The Balvenie in the heart of Speyside. It was a brilliant 3 hours. Towards the end, and before we entered the tasting room, we were treated to two barrels. They were called “the members’ drams”.
The first was 41 year old, 53.7%, slightly smokey, bourbon cask. The second came from a sherry cask at 62.5%. We bought the latter. I don’t remember the price. However, it was only a half bottle, and it was not cheap. One of the last drops was shared with our lawyer to honour the purchase of our house.
Honestly, I wish I had had the money to buy both casks. And since then, I have been to the warehouse tour at Lagavulin, led by the great Iain McArthur. I have wandered around the treasures of Edradour (see picture). And I have been fortunate enough to taste from the official barrel from Ruach, a new distillery in Israel……. amongst others.
But would I buy a whole whisky cask as an investment?
I have been asked this question several times just recently. So let me give you some pointers.
First, wearing my hat as a business mentor, I remind all my clients that another word for investment is ‘risk’. You can make a fortune, or you need only lose up to 100% of the original value!
Second, whilst a few years back there were big profits to be made from pre-buying casks, those margins have narrowed significantly in the past 2 years, for numerous reasons.
Third, this is an industry full of sharks and other predators. There are scams galore.
Fourth, as with every other investment, – stocks, horses, property – know your facts, and have them verified. Here is a partial list of questions to be asked in advance:
- Do you receive a certificate of ownership?
- Will you receive a receipt of payment?
- How do you know that a good cask has been used?
- How will the cask be stored?
- Costs of storage, annual insurance, selling the cask mid term, etc?
- What happens when it comes to bottling?
As I say, a partial list only!
A couple of weeks back, Ralfy featured this subject for a second time on his vlogs. See https://www.youtube.com/watch?v=A1XbogIiNxw&t=2s. The video has been seen over 5,000 times. So, a fair number of people must think he knows what he is talking about.
I am not telling you not to buy.
I am suggesting that as with everything else that costs a lot of money relatively, carry out your due diligence thoroughly and double check answers to your questions. And then check again.
Time for dram. Slainte!
