WHISKY AUCTION MARKET TRENDS: INSIGHTS FROM THE LATEST REPORT

Noble & Co the financial advisory firm has released their seventh Whisky Intelligence Report that was produced alongside Brainnwave, the decision intelligence company. The report focuses on the whisky auction market for the first 4 months of 2024 (January – April), with insights showing that there is a decline in the whisky auction space when it comes to selling prices.

We have summarised the key findings of the report below for you to read: 

1. Market Leader Decline

The Macallan, the market leader, experienced a significant decline with regards to the total value of whisky sold, falling from 52% in January-April 2023 to 40% in the same period in 2024. Glenfarclas grew the most, with a growth of 59% in bottles listed compared to the same period in 2023.

2. Regional Performance

Speyside saw the biggest volume decline, with 38% fewer bottles sold and a 10% decrease in purchase prices. Highland and Lowland regions maintained stable performance.

3. High-Value Sales 

The highest sale recorded in the first 4 months of 2024 was The Macallan The Reach 81 Year Old, it sold for £190,547. This was more than the previous sale in December 2023 which was £163,416, but was lower than the sale price in July 2023 which saw a Reach go for £212,500.

4. Higher End bottles

Bottles sold for between £10,000 to £100,000 saw sales continue to generally do well, including multiple sales of The Macallan’s Archival Series Folio 1-7.

5. Price Variability 

The price for high-value bottles like The Reach remains variable, showing that future auctions may not follow previous months results.

6. Decline in Volume and Value by Distillery

More famous distilleries such as Springbank, Bowmore, and Glenfarclas also saw a reduction in auction prices which reflects the broader market trends.

7. Average Prices by Region

The average price for bottles varied heavily by region, with Speyside leading the way at £721.37, followed by Lowland at £522.10.

8. Unsold Bottles

The percentage of unsold bottles increased to 6.9% in Q1 2024, up from 6.7% in Q4 2023. 

9. Price Trends for Mid-Range Bottles

Bottles in the £100 to £1,000 category saw a decline in volume, with an overall drop of 29% from January to April 2024 compared to the same period in 2023. That being said, average prices didn’t change.

10. Reserve Pricing

More long term collectors are sticking to reserve prices more, and the number of bottles flipped have reduced in the near term as demand hasn’t been as high as last year.