First it was buying and selling playing cards. Then cash. Now the uncommon whisky market is experiencing a increase.
We could not have reached October but, however 2021 is shaping as much as be a report 12 months for the single-malt Scotch whisky secondary market, in response to a whisky consultancy agency based mostly within the UK (h/t Barron’s). If projections maintain true, the market is anticipated to achieve $102 million in gross sales earlier than the December is over, which might simply set a brand new report.
If gross sales do attain that mark, it could signify a 30 p.c improve over 2019, in response to the report by Uncommon Whisky 101. The secondary market recorded $79.6 million in gross sales that 12 months. In the event you’re questioning why the consultancy agency in contrast 2021 numbers to these from 2019, it’s as a result of the uncommon whisky market, like so many others buying and selling bodily items, was closely affected by the coronavirus pandemic in 2020. (Regardless of quite a few disruptions, the uncommon whisky offered at public sale introduced in $72.7 million final 12 months, so it wasn’t a whole write-off.)
Primarily based on the primary half of 2021, when almost 85,000 bottles of single-malt Scotch had been offered on the secondary market, Uncommon Whisky 101 tasks that 172,500 can be offered by 12 months’s finish. That might signify a 20 p.c improve over the 143,895 bottles offered in 2019. Moreover, the per bottle worth has risen to $586 in comparison with $536 in 2019 (and $550 in 2020). Principally, no matter metric by which you select to view the information , uncommon whisky gross sales are on the rise.
“In our view, the pandemic has proven us that bodily belongings, similar to whisky, have turn out to be ever extra widespread,” Uncommon Whisky 101 co-founder Andy Simpson mentioned in an announcement to Barron’s. “When mixed with a rising international client thirst for single malt, which reveals no indicators of slowing, we see no cause why costs won’t proceed to rise for the best bottles.”
It’s not simply the uncommon whisky market that’s ascendent proper now. As Robb Report reported in March, the American Whiskey market can be experiencing a increase of its personal. Major and secondary costs for whiskeys like George Dickel, Woodford Reserve and WhistlePig have hit new heights since 2020 turned over to 2021.