Investors have found refuge in Scotch whiskey
Investors have found refuge in Scotch whiskey
2022.11.27 10:34
Investors have found refuge in Scotch whiskey
Budrigannews.com – According to the Financial Times, younger investors seeking tangible assets amid volatile financial markets have increased the value of rare Scotch whiskies by more than a fifth this year.
According to a report from Scottish investment bank Noble & Co., volumes have increased by almost a quarter. The increase in auction sales was primarily driven by bottles priced between £100 and £1,000, with that category seeing values rise by 40% and volumes rise by 30% in the first three quarters.
Over the course of a decade, more than half a million auction transactions were tracked in conjunction with data science firm Brainnwave for the purpose of the report. According to Noble, quoted by the Financial Times, “choppy markets have bolstered demand for rare whiskies as alternative investments.”That trend is exemplified by Elite Wine & Whisky’s sales.
According to the newspaper, Elite’s turnover has increased by 70% this year to £17 million since the UK’s “mini-budget” in September shook markets.
According to the FT, which cited the Scotch Whisky Association, Scotch accounted for more than a fifth of all UK food and drink shipments and three-quarters of Scottish food and drink exports in 2017.
