Whisky art is nothing new, and whether it’s a beautiful photograph of a distillery in the setting sun, or an oil painting of a copper pot still in the stillhouse, there are some incredible pieces of art out there that any whisky enthusiast would be happy to hang on their wall. But whisky art took an unexpected twist recently, with the category moving into the NFT space. WTF is NFT? Well, it’s almost as controversial as NAS, but easily twice as confusing. For whisky has now entered the cryptocurrency arena: NFT stands for Non-Fungible Token. Still need help? You’re not alone, so let’s dive in. Just keep an open mind…..you’ll need it.
Tag: Whisky investment
Some flak for whisky flipping
Whisky flipping. It’s the ultimate physical response to that vexatious question, “How much is this whisky worth?” Nevertheless, the answer to the question is pretty simple: A whisky is worth whatever someone is prepared to pay for it.
One of the most contentious and ire-inducing phenomena to appear in whisky circles in the last 15 years has been the rise of the whisky flipper. Not familiar with the term? It’s applied to someone who obtains a whisky at retail price (typically when the product is first launched or made available) and then, within a short timeframe, re-sells it on the secondary market at a significantly higher price. More often than not, the re-selling occurs once the original retailer’s or supplier’s stock is sold out, thus cashing in on a product that is no longer available through the original channels.
Investing in whisky or buying a cask? What to look out for…
Are you thinking of investing in whisky? Or buying your own cask? Owning your very own cask of whisky, maybe selling it for profit one day, or just enjoying every drop for yourself sounds like the ultimate indulgence, and it definitely appeals. When you love whisky this much, owning your cask – or investing in one – is the icing on the cake, yes? But icing can go off if you’re not careful, and investing in whisky has a lot more traps and pitfalls than the sales brochures make clear at the start…
There’s no denying that there’s a degree of romance involved. It’s like owning your own little piece of Scotland, not to mention that it affords great bragging rights with your friends down the pub. And, if you buy a cask when it first gets filled, you also get the enjoyment of watching it mature, and then tasting it at various intervals along its maturation journey – almost like watching your kids grow up!
It all sounds great on the surface, and plenty of people pay for and acquire a cask with the expectation that nothing could possibly go wrong. After all, what’s the worst that could happen? In ten years’ time, you’ve got 200-350 bottles of your own whisky to drink, sell, or give away! But, for many people it seems, this end outcome causes more problems than joys. “Why? How?” I hear you ask, indignantly. Let’s explore…
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