The Milk of Human Kindness isn’t Dairy.

Taste Review #72 – Glenfarclas 2005 Distillery Exclusive Cask 2855

It’s better late than never. I didn’t plan to run out of reviews in the summer, but an extended trip offshore of 16 weeks meant that I would have to be going some to have that amount of back dated reviews. I fear that this may happen again in the future, so keep yourselves braced for a period of inactivity here – however just because I may be down, I am most certainly not out.

As you will know from previous articles, my storage locker in Perth got flooded the same day that I came home from my last offshore trip and I sustained a considerable amount of damage. As I write this, I am still none-the-wiser as to what the insurance settlement is likely to be. I had already ordered some whisky online while offshore, and the morning after the flooding I realised I could not pick this up in person, so asked the retailer to ship it to me. When I contacted them they said if I added one more thing to my basket, they would ship the whole lot to me with no extra charge. As I had not seen the damage at my locker, and fearing for my Glenfarclas bottles from BP Magnus Platform 25 and 30 year anniversaries, I decided to order another Glenfarclas – this one the 2005 14 year old that was destined to be released as part of the now cancelled 2020 Spirit of Speyside. The retailer mentioned he had an open bottle, and if there was still some left when I next called by, I would be able to get a sample.


Glenfarclas Visitor Centre. Closed for 2020 season.

They say bad fortune often happens in threes, and I already had been stuck offshore, flooded whisky and a few days later, my wife had an accident in the car when she hit a small deer, damaging the bumper that had only just been replaced in March from a previous accident. Spirits were low, but the day after the accident I receive an unexpected parcel – a sample of the 14 year old Glenfarclas. It was a certainly well timed boost to morale.


A pleasant and well timed surprise!

In all, within the whisky community (although I prefer to hover around the edges) I have not experienced such an outpouring of sympathy for my phlight with my storage unit. Even my insurers so far have been brilliant and I await the outcome of my claim. But time waits for nobody and it’s time to look and move forward with the blog and look to the future. So without further ado, let’s move onto the tasting.

Details

Region – Speyside Age – 14 y.o Strength – 58.2% Colour – Brown Sherry Cask Type – Sherry Butt Colouring – No Chill Filtered – No Nose – Figs, rum and raisin ice cream, dark, berry fruits, blackberries, slight leathery nose. There is a note of dark roast coffee powder too. Palate – quite tame without any water considering the abv. A pretty smooth arrival with a gradual rise in heat through the development. Waxy mouthfeel, with dried fruit flavours as is typical with sherried whiskies. This has the Glenfarclas DNA all over it. A hint of stone fruit, perhaps cherries. Finish – quite mellow while neat with a medium to long finish. A slight sulphur note, but this was quite pleasant, a good meaty malt. Water intensified the spicy wooden character for me, and was slightly tannic, giving me bit of a dry mouth.


A wonderful colour!

Conclusions

This bottling left a bit of a sour note. It is / was only available through 2 retailers – The Whisky Shop Dufftown and the Speyside Whisky Shop in Aberlour. One of these retailers had a bit of a situation where somebody buying a bottle complained about the dispatch and shipping only it was getting sent straight to an auctioneer. That is pretty sharp for a flipper – at least let it reach your hands. It’s only £150 and despite being limited, it’s not sold out so it’s a bit of a risk trying to flip so early. Thankfully, the two I saw at auction only realised £140. Accounting for fees, the flipper only made £123 – a £27 loss minimum as the shipping hasn’t been accounted for.

As an aside, I feel for special releases that specialist retailers and auctioneers could refuse to take such consignments, as this is something that often pushes limited whisky out of reach of the genuinely interested in the liquid. But that’s a conversation for a different day and seeing how specialist retailers have been battered by the effect CV-19 on the economy, who can blame them for taking a sale?

The other sour side was that I had a wee bit of a conversation with somebody on twitter who reckons this bottle at £150 is over priced, as you can buy the 25 year old at Costco for £99. In fact the guy’s post I felt was quite arrogant, suggesting anybody who knew anything about whisky would know the 25 year old is a superior dram. Well, that’s fine if you have a Costco card. Even if I did, by time I drive back and forth to my closest Costco, I’ve lost the savings in the price of diesel getting there.

Plus, the guy made the mistake of assuming I had bought the 2020 release and hadn’t tasted it. Well I had – and while I never proclaim to know everything, I know that the other mistake the guy was making was getting hung up on the idea older is always better. It isn’t. I’ve tasted the 25 also and in my opinion the 14 is better. The higher price reflects the fact the bottling is limited. The 25 year old is freely available. I personally think anybody who knows anything about whisky would also realise the 25 year old is only 43% while this is cask strength at 58.2% and a true whisky lover won’t shop for it in Costco but support their specialist retailers. Touché.

To complete the verbal tennis match, the 25 year old is also available at the same price on Amazon. That would save the young man wasting their time and fuel in driving to Costco, but we all know what I think about shopping for whisky on Amazon. Game, Set, Match.


Check out the sherried goodness!

Moving on, I did really enjoy this whisky. The high abv was very easy to drink neat with very distinct sherried notes. Adding water for me spoilt it as it accentuated the spiciest parts of the profile and killed the fruity notes I had been enjoying. I felt it matched the experience I had last year with a 1973 Family Cask, likely to have been about 40 years old. As I never saw the bottle, I didn’t know what year it had been bottled.

Whether or not it’s over priced, well that’s subjective as it all comes down to the taste and everybody will have an individual opinion. It’s certainly not a bottle for every day drinking, and while I can say you won’t be disappointed £150 is a bit much for many people to drink on a regular drinker. What auction prices do remains to be seen but I doubt that it will go up that much in value unless a few get drunk. Initial low auction values may encourage a few to get cracked open. It’s meant to be drunk really.

The last few bottles are still available from the Speyside Whisky Shop, the Whisky Shop Dufftown having sold out. It should be a good bottle to have in a collection as if bought at £150 or below, should it not go up in value then it’s still an affordable bottle to drink and really enjoy.

I’m grateful to Matteo for the kind gift. The milk of human kindness isn’t dairy – it’s definitely distilled!

Scotty

Index of tastings here

Index of articles here


This is written as a hobby, and I appreciate your likes and shares, either on WordPress, or why not visit one of my other social media channels. Lets spread the whisky love!

Scotty’s Drams encourages responsible drinking. To find out the facts about drink, and where to find help if you need it visit Drinkaware.co.uk by clicking on the link.

Photo Credits

All Photos – Authors Own

Under The Hammer

Why you need to be careful with on-line auctions

For a few years now I have been a regular user of on-line whisky auctions to start boosting my collection, as well as selling some of my bottles that I have no further need to keep. Recently I have spent some time selling around 40 miniatures at auction and was very happy at the price that I received. I also was selling my Macallan Folio 5, which I needed to get rid of on account of the amount released – it didn’t have the rarity value that I desire to enable to keep it. Of course, I then had to contend with the flippers and those also offloading their Macallan purchases that didn’t meet their expectations.

Throughout this article, I am not going to mention any auctioneers by name, however I will give the websites of the auctioneers that I use for buying, selling or both.

While on-line auctions offer a relatively easy way of buying and selling there are a few things that you need to be aware of that can catch you out. This is in particularly true when you are trying to sell something at the same time as a lot of other people. Unfortunately this was the problem that I had when selling my Macallan, and it isn’t just the auction you are taking part in – there are often two or three on-line auctions running at the same time. Of course many of those in the market will often see the way prices are going between the auctions and will bid accordingly – if they get outbid on one auction site, it is no problem just to start bidding on another site.

In my case, I wanted to offload my Macallan as soon as possible, so I had to pick an auctioneer that was going to hold an auction soonest and that I was able to get the bottle submitted in time. One thing you have to consider is that some auctioneers have better exposure than others, but the flip side is that those auctioneers are also more likely to have more submissions of the same article when it comes to trying to offload a sought after release. One thing that counted against me was that one of the biggest auctions was taking place when my auction started, and it had 200 Macallan Folio 5 for sale. It goes without saying that the more there is of something available, this then suppresses the price somewhat, but the good thing is that for Macallan Folio Editions, the demand is there, so you shouldn’t suffer. Perhaps I should have put that in italics, as there are no guarantees.

If you are worried about the price that you may receive back for any sales, the important thing is to place a reserve on it. This usually costs an extra £4 – £7 depending on auctioneer. I cannot stress this enough – perhaps it is better not to sell something that doesn’t make it’s reserve, and gives you the chance to either re-submit it to another auction or perhaps keep to sell another day. It gives me no pleasure to report that one of my friends in the whisky community went to sell his Macallan Easter Elchies Black 2019 and the auctioneers recommended no reserve. To my friends dismay, there was 90 other bottles in the same auction and as a result lost around £100. So, if you need a return – set a reserve.


Don’t get hammered at auction. Stick to your price and don’t overpay

Setting a reserve is something I think is also being used by some to manipulate the market, especially in the case of new releases. Many auctioneers do not let you set a reserve above Recommended Retail Price (RRP) for 6 months after a new release in an attempt to help stop the flippers setting high reserves to guarantee them a return which in my view is greedy, immoral and detrimental to a whisky release where people see pound signs instead of the liquid in the bottle. Admittedly, the best this can do is just kick the can down the road in limiting the prices, and anybody is free to bid above the RRP, but at least limiting reserves helps others. One auctioneer that I deal with has said they use common sense and don’t limit any reserves but it’s on a case-by-case basis. If it’s not unreasonable, you’ll get a higher than RRP reserve.

Not all auctioneers are the same, and when thinking about the reserves I have seen on other auctions for Macallan Folio 5, one around the same time had a bid on it for £600 and still had not reached the reserve price. In my opinion, the auctioneer is assisting the flippers, and it’s a bit unfair to those who value the whisky over the profit. What was not understandable is that there were several others available in the same auction – so why would somebody bid on one bottle way over the price of others that were available in the same auction that were a lot cheaper. If there is a bottle I want in an auction, and there is more than one available, I bid one, then if I get outbid, I then bid on a cheaper one. I personally think there is more behind the bidding of a bottle that seems to have had more bidding action than others, but we will deal with it later.

Some auctioneers publish reserve prices, and I think that is a good idea, as you know straight away what is expected, and you can tell if somebody has overvalued the whisky. If the reserve is hidden, then you should only bid to a level that you are comfortable with and don’t be tempted to incrementally bid to find out what the reserve is as you may be stuck with a bottle you can’t afford or may be overpaying for.

And this is a really important point. Generally speaking in a conventional auction, you can see who you are bidding against, as there will be an assistant on a phone or at a computer terminal. With an on-line auction you don’t have that facility. Sniping a bid (bidding at the last moment) has been eliminated by on-line auction by any bidding automatically extending the auction, but shill bidding I think is also prevalent as well. While auctioneers say that they are on the lookout, sometimes the bidding patterns don’t make sense, when people are bidding on one item, when there is another one equally as good but a lot cheaper. My whisky auction insider says there is very little that can be done to detect this, as it will only really show up if using the same hub. If your friend or family relative is bidding from another location, there is pretty much no way of telling.

One other hazard of on-line auctions is that you are physically unable to check the merchandise. If you have any doubt at all, make sure that you contact the auctioneer – they will supply extra photos on request, and if it is practicable they may allow an in-person visit to inspect the item. Not so handy for those of us who live in the more remote areas. You need to be sure you understand what you are buying.

I cannot recommend this enough, and be aware of what you are buying. RESEARCH! Know the price for a given condition. I’ve seen many auctioneers optimistically list lots as rare, but they aren’t. A quick look through other auction sites will reveal how often these turn up. I was recently given a wee task to source a bottle with a specific distillation date as a birth date. This wasn’t the easiest to find, and certainly getting harder to source, but does this make it more expensive? No – it doesn’t. If one shows up at auction then you can bet your bottom dollar another one will eventually. Set your price as to what you want to pay and wait.

Deciding your price is crucial. By all means do not bid your maximum price straight away, as often people will keep bidding until they outbid you. Best put a lower maximum in, and as soon as you are outbid, bid again. That way you may be able to pay less than the maximum you were prepared to as some people give up when they see somebody consistently upbidding them.

One thing my auction insider let me know is that they are presented with a large amount of fakes. OK, perhaps not masses, but the percentage is higher than you might expect. I have one bottle that I bought at auction for £35 that was part of my bargain basement hoovering towards the end of an auction to buy a whisky from the 50’s or 60’s. I had to query it, as the volume and strength were not printed on the bottle, and the label felt wrong. While the auctioneer assured me that this bottle was not a fake, I have my doubts, therefore will not be drinking it, but use it as a show piece. Do not assume that the auctioneer has spotted a fake, as it isn’t always apparent, and if they are handling hundreds or thousands of bottles for one auction, there is the chance one may slip through. It is also wrong to assume it is high value bottles that are the ones being faked – those are the ones that are checked more closely. It will be the cheaper ones that may suffer from counterfeiting more often than not.

The archive at Macallan distillery when it opened in 2018 was found to contain suspicious bottles. If they can’t tell, what chance have you got?


One is fake, the other is genuine

My last point is that beware of auction hype. One auctioneer had a superlative auction of a private collection that was to be broken up. Yes, there was some spectacular bottles there, but they were in the minority. A lot of bottles were missing boxes or had low fill levels. Just because it was part of an extensive collection does not make that worth any more. In all it was quite disappointing, Due to the Coronavirus, I am not sure if the second part will go ahead as planned in April 2020, but we will wait and see. Given the quality of the first half, I am a bit underwhelmed. If you have done your research, you will know what it’s worth, and bid accordingly – don’t get carried away and overpay, unless it’s a must-have for your collection, though even then exercise a wee bit of caution.

But for all the pros and cons of on-line auctions, I have bought older bottlings a lot cheaper than I would have got them retail. I have been able to complete collections that would otherwise be impossible, and I have been able to drink some unusual and rarer whiskies. You just have to keep your head when everybody around you in the auction seem to be losing theirs.

There is a list of on-line whisky auction sites I use or regularly browse below.

Slainte Mhath!

Scotty


Whisky Auctioneer – http://www.whiskyauctioneer.com

Just Whisky – www.just-whisky.co.uk

Whisky Hammer – http://www.whiskyhammer.com

Scotch Whisky Auctions – www.scotchwhiskyauctions.com

The Grand Whisky Auction – http://www.thegrandwhiskyauction.com

Whisky Online Auctions – https://www.whisky-online.com/auctions/

Speyside Whisky Auctions – http://speysidewhiskyauctions.co.uk

Royal Mile Whisky Auctions – http://royalmilewhisky.auction

Robert Graham / Global Whisky Auctions – http://www.globalwhiskyauctions.com

WhiskyAuction.com (Based in Germany) – http://www.whiskyauction.com


Index of tastings here

Index of articles here


This blog is written as a hobby. If you liked this article, consider following the blog by clicking on the icon at the bottom of the browser page somewhere to get tastings, visits and articles to your email inbox. Or join me on my other social media channels below. Also, feel free to share, and spread the whisky love ❤️❤️


Scotty’s Drams encourages responsible drinking. To find out the facts about drink, and where to find help if you need it visit Drinkaware.co.uk by clicking on the link

Photo Credits

All Photos – Shutterstock

All content is subject to copyright and must not be reproduced without prior permission.

Speculate to Accumulate

Do not be afraid of the not perfect.

The more regular of my readers will appreciate that I do tend to use a lot of miniature bottles for my reviews. This is due to a certain amount of expediency because of my work away from home and being away for more than half the year gives me limited time to drink full bottles. I have to say that I end up giving a lot of it away to my friends (you know who you are!) in order to kill bottles so I can move on to open something different.

The problem with this is that I am an inveterate bottle chaser, and this week was no different. My final sales of miniatures happened this week, and I managed to get some more decorative cask ends for the Strathspey hotel my wife runs. However, for me an online whisky auction is pretty much like doing your shopping at Aldi’s in as much as you can go for milk and bread, yet walk out with a 4″ grinder and a car tool kit as well. I ended up perusing the other miniatures for sale and came across a set of 4 miniatures at a relatively cheap price. The bait was in the trap, and the bottle chaser was sniffing around.


The four drams. Only Coleburn is silent, having closed in 1985. Only one official bottling was released – the 1979 Rare Malts. Most production went into Ushers or Johnny Walker Red. The other distilleries are still producing.

The drams in question were older bottlings from the Gordon & Macphail ‘Connoisseurs Collection’. Gordon & Macphail have had some great bottlings in the past and I already have a few of their miniatures in my collection, though these are unicorn drams that I wish to taste and possibly review the experience for you in the future. The drams I won this time are.

  • Coleburn 1965
  • Dailuaine 1971
  • Speyburn 1971
  • Tomatin 1970

I was after the Coleburn and the Speyburn and in the end with auction fees I paid about £27 for all 4. However there was a big drawback – the fill levels were low. But does this mean I have been foolish or ripped off? I don’t think so, and I’ll spend the next few paragraphs explaining why I feel I haven’t been either of these and why perhaps you should take a chance.


The fill levels

Firstly, a rip off in an auction is not possible. In fact a rip off can only happen if you were sold something and you what you received was something that did not meet defined expectations. An auction house clearly shows the bottles on sale and will provide more on request. If you were prepared to pay the price with as much information as provided, then you have not been ripped off – you’ve just made a mistake.

Have I been foolish? Perhaps, but that is a matter of opinion. These drams could cost hundreds to buy as an individual full size bottles. I am going to be able to taste rarer drams for a fraction of that. If I was to find these drams in a whisky bar, I could imagine to pay £25+ for a dram for each one of these. It is worth saying that each of these drams have at least 25ml in them, some close to full. So potentially I have £100+ worth of drinking whisky.

Of course, with low fill levels, there are some drawbacks to this, and I have to acknowledge this. If the fluid level is low, then this means that whisky has evaporated out. I find that miniatures are particularly susceptible to this, and is one of the reasons I never recommend people collect miniatures unless they are aware of its risks and they are stored properly. Of course some people do collect these, but it’s not my thing. The risk of evaporation for me is too high and I personally feel I’d rather drink the miniatures.

One big problem with evaporation is that our largest concern should be that alcohol evaporates quicker than water, so there is a good chance that these drams which were bottled at 40% will not be at 40% when I try them. But that is a risk that I take, and while I am well aware that I will not get the full flavour that I would have got had it been fresh, I will still get an idea of what it would have been like.


A good way to taste long gone distilleries. Linkwood still going, Glenury Royal closed in 1985 and was demolished soon after. Imperial was silent more often than it was operational, falling silent in 1998 for the last time and was finally demolished in 2013 to be replaced by the Dalmunach distillery.

As with any proposition I put to you, this needs some sort of perspective. While I know that my bottles are compromised, what about that £30+ nip you buy in a whisky bar? Once the seal is popped, that bottle is on countdown as oxidisation and evaporation takes place. Certainly the whisky bars I see don’t gas their whiskies once they have been opened. That means in the case of the more premium but less popular whiskies, you’ll never be getting a fresh like new dram. You’ll never know how much of the fill level is due to evaporation. Let’s extrapolate that thought by remembering that the lower the fill level goes, the evaporation rate increases. My gamble with the miniatures doesn’t seem quite so foolish now, does it?

The above thought was one I have had for some time. I remember last year when I visited a bar that sold a 72 year old Macallan at £5000 a nip. Once opened, the evaporation and oxidisation processes have started. I wouldn’t imagine at that price it will be a quick seller, therefore is the person getting the last dram truly getting the value of such a whisky?

As I have said in my title, sometimes you have to speculate to accumulate. By taking a chance in spending some money, you can also taste rarer or older drams. By all means, you know they will not be perfect, but neither is that bottle of Macallan somebody has that’s been hiding at the back of the cabinet and was opened in 1983 to celebrate Aberdeen winning the European Cup Winners Cup. And has now been saved to drink only at special occasions. As an Aberdonian I can say that perhaps you’ll be waiting another decade to see silverware at Pittodrie….. There’s a good chance your whisky will have gone to the angels by that time.


Banff – bombed by the Luftwaffe in WWII didn’t survive the 1983 whisky loch and was closed that year. Convalmore fell two years later but is growing in popularity. Royal Brackla has changed hands since this distillation but is still going.

As usual, exercise some restraint when looking at bottles that are less than perfect. There will be a point when it will not be worth what the auction value is. Only pay what you can afford to drink, with an eye onto how much liquid is left in the bottle. Research what other similar bottles are selling for. And as usual, my best tip is to keep an eye on the assorted miniature collections in online auctions. Sometimes a unicorn whisky can be hiding in amongst others, as I found with my G&M Royal Brackla. You can always do what I did and sell the remainder of the miniatures again at auction and make enough money back to effectively make the unicorn you’ve hunted free. Fortune favours the brave!

Yours In Spirits.

Scotty

Index of tastings here

Index of articles here


This is written as a hobby, and I appreciate your likes and shares, either on WordPress, or why not visit one of my other social media channels. Lets spread the whisky love!

Scotty’s Drams encourages responsible drinking. To find out the facts about drink, and where to find help if you need it visit Drinkaware.co.uk by clicking on the link.

Photo Credits

All photos – Authors own

Profits and Losses

FOMO should not rule your whisky journey.

It has been a nailbiting and momentous week here at Scotty’s Drams HQ. I lost my job as the premier hypocrite of the Strathspey and Badenoch area, when my Macallan Folio 5 did sell at auction and I made the grand total of £37.20 after taking auction fees into account. I don’t even have the title of the worst flipper in the world, as at the same auction, some people were taking losses over £230 on their Macallan Easter Elchies Black 2019 release – one of the many Macallan releases that did not have numbers confirmed and turned out to be a lot more than people anticipated.

In other auction action, I submitted a bundle of whisky miniatures to a couple of auctioneers, and the items at Whisky Auctioneer in Perth did a lot better than anticipated. I had the opportunity to buy around 50 nips from a guy locally who was selling them on behalf of his mother, as they belonged to his late father’s estate. I paid £50 for them, as I didn’t really have time to inspect them properly and I had no idea of what they were worth. Imagine my surprise when the total hammer price was £211! With me being me, (and the local area as well as the whisky world being very small), I had told him that if it made much more than £50, I’d give him the profits, so nobody could think I was taking the mickey or taking advantage of people. Believe it or not, I do want Scotty’s Drams to be known to have a smidge of integrity! It has been a great result for myself, but especially to the recipient of the extra cash and I am glad it is going to a good cause.

The final thing that I want to point out for this week was the news that retailers were slashing the prices of the Game of Thrones editions as released by Diageo in collaboration with the HBO series. The Whisky Exchange and Master of Malt were offering around 30% discount on the 9 bottles, and I had seen on line that another retailer were said to be offering 40%. You can imagine the response on the social media channels about people who feel conned that they paid significantly more to collect the series. I will remind you that I warned about this in my article I wrote about the Game of Thrones whisky set back in November 2019. Click on the link if you want to be reminded of what I said.

I’ll not go over old ground, as this will make the article unnecessarily long. However, I can understand the angst of people who feel conned, but why did they pay so much in the first place? They believed the hype of a limited release that was never really going to become rare – not in the next 40 years or so anyway……. I bet the person who paid £1400+ for his set at auction feels especially aggrieved, especially for one of two things – a lowering of the retail price will crash the auction price. This is definite for the short term and most likely for the medium to long term. Why do I think this? It is only the truly gullible or those who cannot get it any other way will pay more on an auction site than it costs at retail. Secondly, now the retail price has dropped, potentially many are going be offloading it ASAP if they don’t want to drink it, thus probably ensuring a very easy supply to secondary market at auctions. Additionally, because of such a large price drop, the perception of quality has been damaged and any last vestiges of thought about the range being a collectable commodity that will make healthy profits have been blown away.

We have to also remember that people thinking it was a limited edition were conned into thinking this, or what is much more likely that they chose not to look at the facts. This whisky was released in massive numbers, probably tens of thousands of bottles per each edition. Coronavirus is still rarer than GoT whisky. The only way it was limited was that Diageo has probably set a limit in the time for these products to be marketed. I doubt they consciously limited the production over that period, given the amounts in circulation.

Let us put that into some sort of perspective – in December last year Bruichladdich released 3000 bottles of their Octomore X4 series. This is the quadruple distilled single malt, that is part of a series that has been released as spirit and at 3 years old. When it was placed in their online shop, the website crashed as people tried to get hold of a bottle. I was lucky, and after 4 hours trying I managed to get 2 bottles. Still, when you look around, you can still get hold of it at auction, albeit at substantially more than the £150 release price. I bought 2 as I intend to drink one and put the other alongside my other X4’s as a collection. Even at 3000 bottles, which is only around 10 casks worth of whisky, this is not especially rare. How much less rare is the GoT whisky? I do hope that you have got my point here, as we now have to expand on what probably drove the demand.

I came to this thought based on another article I had read online. Another blog / review site I like reading during my online wondering is The Dramble. Indeed I recommend it. It has a collection of writers, although most of the content is written by its co-founder Matt Mckay. He recently wrote an article about the Talisker Distillery Exclusives, and he raised an interesting point about these distillery exclusives, and how some people feel this is unfair as they are missing out if they can’t get to the distillery. I had to laugh as they certainly missed the point of exclusives. Matt touched briefly on the FOMO fanbase. For those of you who aren’t as hip and down with the kids and street language, I can tell you that FOMO stands for ‘Fear Of Missing Out’.

Let us face it, some of us do have moments of fear that we are going to miss out on something. I am no different. Back in those dark, dark days when I was on the Macallan mailing list, I entered the ballots and crossed my fingers. I never wanted to flip any bottles – I wanted to own something that would be worth a bit of money in the long term. Of course I was trying to avoid paying the money the secondary market would eventually command. So it comes to pass that I guess in the case of the Folio 5, I have to be honest with you and I took my eye off the ball. The unforced error of not really noticing there was no commitment to limit the numbers to the same level as usual was a mistake many had made. After all, no numbers were officially confirmed for Folio 4, and it was accepted around 2000 bottles were released. Surely Macallan wouldn’t do the dirty and release 20,000 bottles, ensuring 18,000 could not collect the full set? That’s exactly what they did.

The problem I feel with limited releases (and I speak only as an enthusiast with no part in the whisky industry) is that too many people have seen the profits that some people have made and are now only too keen to buy a whisky and hopefully make the same profit. Those with little experience also misunderstand the meaning of limited release. A limited release can still have hundreds of thousands of bottle released as long as it’s only sold for a fixed time. Releases such as Ardbeg’s annual release, coupled with pretty much anything Macallan releases on a limited basis normally initially makes money and drives the flippers and those determined to obtain a bottle to buy and sell in a frenzy similar to that when a lamb is dropped in a pool of piranhas. This has perhaps provoked people who do not normally buy whisky as an investment to perhaps want a piece of the action. It is a very dangerous game to play with no knowledge and people have, and do get financially burnt by it. I’ve been buying and selling whisky for 6 years now at auction, and I know – even I get caught out sometimes, but I accept the swings and roundabouts of what I collect.

The only way such a release of whisky could ever hope to become rare and expensive is if people drink it. And while with GoT this is still theoretically possible, the whisky released was never the best products the distilleries were capable as of and there was just so many bottles released. I’ve tasted a couple of the GoT editions, and they are pretty so-so. Not bad but not good either.

So why have the prices dropped so far? I would guess that now Game of Thrones is completed and no new episodes are to come, the series has dropped out of immediate public consciousness and now they are not buying it in the same amounts. My limited experience with retail in other areas would suggest this creates excess inventory to get rid of and to do this then the easiest way is to drop the price.

Fear Of Missing Out – not having the whisky from your favourite TV show, or not being able to collect it in order to make a profit at a later date is probably what has driven this release. Possibly a bit of intrigue to see how each edition ties into each family in the story. But to be fair, it isn’t just limited to the gimmicky release that GoT obviously was. It is the same with every release from Macallan, Ardbeg, Bruichladdich amongst others. Our admiration for the brand, our desperate desire to have something no other collector has, or at least have it first, or to even just get a couple to flip so those desperate enough can get their hands on it blinds us to some harsh economic realities if we don’t take into consideration the realistic supply an demand in the future.

And here is the crux – FOMO often takes our attention from the most important thing – the whisky itself. Consider that in the whisky world that fully missing out is a rare thing – what’s on the market will eventually come around again, at least in the secondary market, and when it reappears, it may come back cheaper. FOMO is driving a monster in the whisky market which has the risk of eating itself, something those who have felt cheated over Game of Thrones are now realising, but it can be applied to those who overpay for anything. I’ve seen Macallan Folio 5 auction for a hammer price of £900. If that person failed to win the original Macallan ballot, how silly do they feel now when they could have bought mine at auction for £320 rather than overpaying the first flipper that came along? The signs of the greatly increased out-turn were all there when they were appearing on auction sites before the Macallan Ballot was complete, so why would you pay nearly 4 times the RRP?

Marketing is something that we as whisky geeks that we all have to be aware of, as it so often promises something and very often does not meet our full expectations. Fair play to Diageo – they shifted shed loads of non-premium whisky at non-premium prices and those who know very little about whisky or have duller palates are suddenly exposed to nine distilleries in the Diageo stable. Where they will not get people continuing to buy GoT bottles as it is limited, they will then most likely start buying the more profitible (for Diageo) releases from these distilleries after they made GoT fans more aware of their offerings. Diageo really couldn’t lose from this venture.

The important thing to bear in mind is that if we are true whisky geeks, FOMO should never really guide us – our palate should in the first instance, but I have to admit that I can miss this myself, and often become a bottle chaser, which is an unhealthy habit. FOMO and bottle chasing can and does lead to missing out on other things, though you often miss that point as well. How ironic.

For those amongst you reading this who have more experience than me, I hope that you are nodding your head in agreement, for you know the truth that things will eventually come back around. You may have to wait somewhat. I have that feeling with the Dailuaine I lost out on in the week previous to last. We have to move on….

In summary –

  • Don’t always believe the hype on new releases.
  • Never plan on making money, and only spend what you can afford to drink. That is what you might be doing if the price crashes
  • Make sure you know how many are being released
  • Don’t be afraid to miss out. There are thousands of fantastic whisky expressions out there, and because you don’t have one, this means you have money for another.

Yours In Spirits.

Scotty

Index of tastings here

Index of articles here


This is written as a hobby, and I appreciate your likes and shares, either on WordPress, or why not visit one of my other social media channels. Lets spread the whisky love!

Scotty’s Drams encourages responsible drinking. To find out the facts about drink, and where to find help if you need it visit Drinkaware.co.uk by clicking on the link.

Prepare to Lose Your Bottle

Why sometimes you just have to let go….

At the present moment as I write this, I’m in the middle of auction fever. I currently have 5 lots at auction and by time I publish this it will be 6. Of these, 5 are miniatures and one is my Macallan Folio 5. Unfortunately when browsing the auctions something came up that is part of a collection that I have and is rare. So rare I’ve only seen one at auction in 6 years, and I doubted if it actually existed, but when it came up it was plainly obvious that I had to have it. The bottle in question was a Dailuaine Flora and Fauna bottle with the white cap.


The bottle in question. No box though (SWA)

For days it sat at just over £100. Then just before the end of the auction, it went up to £380. That was about the amount I thought it was worth despite the rarity, but even after the end timer for the auction started it continued to rise. And rise. And rise. And yours truly continued to chase it.

It was once it breached the £500 barrier that I questioned myself, how badly do I need this? I had convinced myself I did need this, but doubts crawled up into my mind. There is hardly any of these bottles around – anybody can replace a capsule on a bottle to make something look rarer. Whilst it looked like a genuine capsule, there were crinkles on it which made me doubt. Indeed, a look on the same auctioneers website from the previous auction revealed a Mortlach 16 Flora and Fauna with a completely incorrect capsule which means that bottle was definitely suspect.


A first edition Flora and Fauna Balmenach. Not as rare but going up in value.

Don’t believe fakes make it to auction? Well just last week I was speaking to somebody who worked at a very reputable online auctioneer who assured me they used to see tons of fakes being brought in to attempt to enter the auction. And it’s a sad fact that some of them sneak through – and that isn’t limited to online auctions either.

We come to the bitter truth. I have paid more than a Flora and Fauna bottle but that is because I was chasing it, and I ended up slightly overpaying. The trouble with online auctions is that you never see who you are bidding against. I’d worked out there was probably at least 2 other people interested in that bottle, and the price could have skyrocketed had I continued. I pulled out at £600, with my tail between my legs. The bottle eventually sold at £750, which confirmed my suspicion that there was at least 2 other bidders.

I was disappointed. Gutted. But remember my advice that I have given to you in the past – auction prices do not include fees. So at £750 hammer price, if the person was a UK buyer, the true cost was £840 before shipping costs. Even writing this the morning after, I still don’t feel I dodged a bullet. It has to be looked at in the cold light of day – that would be £840 I would never drink. It would sit in my locker and probably not make any money. And would I get joy out of it? Certainly not 840 quids worth.

So, I placed a cheeky bid on a 24 year old Invergordon and retreated upstairs leaving my phone downstairs so I couldn’t do any consolation buying. I did some ironing instead and watched some programmes about Scotland I had saved on my Sky box. Unfortunately I couldn’t have a dram as drink-ironing could have disastrous consequences, and having some shortbread to complete the Scottish feeling? My clothes need to be crease and crumb free so that was ruled out too.


Here’s one I chased earlier. Didn’t overpay though.

No matter how much you want a bottle, you have to know its true worth. Even if it’s worth more to you than its actual value as a commodity, sometimes you just have to walk away and remember – if one has shown up then another one will. In both cases when I bought a rarer white cap Flora and Fauna, another one turned up at the next months auction as perhaps people see how much these are selling for and decide to cash in. So fingers crossed.

Being a bottle chaser is a blessing and a curse. You can achieve a fantastic collection, but at what cost? In the cold light of the day, if you are not drinking it but collecting as you hope it to be worth something, you have to keep the emotions in check. Out of the 17 white cap Flora and Fauna collection, I have 15. That’s better than probably 99.9% than others who have the same set.

By all means, if this is what you want to achieve, you have to hold your nerve, but be careful you don’t ridiculously overpay. There is no shame in losing your bottle at all if it prevents you being ripped off.

That leaves me with a closing thought. That do you think my wife would be more shocked at? The fact I was prepared to pay so much for a Dailuaine or that I actually did some ironing?

Yours in Spirits

Scotty

Index of tastings here

Index of articles here


This is written as a hobby, and I appreciate your likes and shares, either on WordPress, or why not visit one of my other social media channels. Lets spread the whisky love!

Scotty’s Drams encourages responsible drinking. To find out the facts about drink, and where to find help if you need it visit Drinkaware.co.uk by clicking on the link.