Whisky by Time News Round Up – November 2024
In this November News Round-Up we share; the sector response to the Autumn 2024 budget and why it may not be bad news for existing investors, how the Scottish Whisky Association are continuing to safeguard and protect Scottish Whisky’s trademark, more good news for investors, some phenomenal auction predictions for a rare Hayu whisky collection and more on new launches steeped in heritage and history.
We also invite you to enter our Winter competition to win a rather delicious 18 year old bottle of Macallan -perfect for those fast approaching colder evenings.
And we end with some exciting news of our own. At Whisky by Time we’ve often spoken about our aim to demystify the world of whisky cask investment with straight forward transparent, advice and guidance.
Coming to you this November is Podcasks – our first venture into the podcast world.
Hosted by myself and Tom we’ve specifically launched to;
- Share more about the potential of whisky casks
- Answer the questions we get frequently asked
- Give your industry insights
In the meantime, if you have a question about whisky cask investments no matter how big or small please drop us a line.
Oliver O’Donovan
Autumn budget: Sector Response
The UK’s autumn budget has been met with disappointment from members of the drinks industry. As the Chancellor announced that duty on alcohol is to increase in line with inflation from February 2025.
The Scotch Whisky Association (SWA) chief executive Mark Kent commented: “This duty increase on Scotch whisky is a hammer blow, runs counter to the prime minister’s commitment to ‘back Scotch producers to the hilt’, and increases the tax discrimination of Scotland’s national drink.
So, what does this mean for investors?
For those who have already invested in casks this will come as positive news, as this means an increase in value to your casks. New investors will now pay more – as the whisky both bottle and barrel costs more to produce and purchase. Some may say adding to the exclusivity of the product.
Read full sector commentary in this Spirt Business article.
Scotch Whisky Association appoints new legal counsel
The Scotch Whisky Association (SWA) has appointed Sophie Airth as a legal counsel, where she will join its award-winning legal team of five lawyers and two paralegals. Last year the SWA legal team was awarded the best Not-For-Profit Organisation Team of the Year at the World Trademark Review Awards in Singapore.
Alan Park, Director of Legal Affairs for the Scotch Whisky Association said:
“We’re delighted to have Sophie join us in our work safeguarding Scotch Whisky around the world. As we continue to protect the reputation of our national product and stop the trade of fake Scotch Whisky, Sophie’s experience will enhance our work and help us meet the challenges we face on a global scale.”
Bonhams offers ‘world’s rarest’ Japanese whisky set
Auctioneer Bonhams is offering a unique set of Hanyu Ichiro’s Malt Full Card Series in November, which could fetch up to €1.2 million (US$1.3m).
Bonhams Cornette de Saint Cyr in Paris will sell one of the world’s rarest collections of Japanese whisky during an online sale from 12-29 November.
Only a few sets of Hanyu’s Malt Full Card Series exist in the world with this particular collection being unique, as each bottle has been signed by master distiller Ichiro Akuto, who selected the liquid bottled for the series.
Clément Gaillard, Bonhams’ Specialist in Spirits added:
“With only a finite number produced, it is one of the most sought-after whisky collections across the globe. To own this series, is to own an extraordinary piece of whisky history.”
Glengoyne unveils 10th Teapot Dram
Glengoyne Distillery has released the 10th batch of its limited edition Teapot Dram series and with it they share a lovely piece of history on distillery traditions from yesteryear.
Glengoyne Teapot Dram Batch No 010 is limited to 3,600 bottles and pays homage to an old distillery tradition where workers would be given three fingers of whisky twice daily from Monday to Thursday and three times on a Friday. The younger workers would often decant their dram into a copper teapot for the older workers to sip during their shift.
Whisky making returns to The Cabrach after more than 170 years.
Whisky production has returned to a historic Speyside community after nearly two centuries, with the first distillation at The Cabrach Distillery reviving the craft of whisky making in this unique part of Scotland.
Johnnie Walker Princes Street celebrates one million visitors
Johnnie Walker Princes Street celebrating a huge milestone in October, having welcomed more than one million visitors from 141 countries around the world, just three years since opening its doors.
Mark Kent, chief executive at the Scotch Whisky Association added:
“We’re delighted to see the continued growth of Scotch Whisky visitor centres and Scotch-centred tourism. From rural communities to our urban centres, Scotch Whisky is an anchor for economic growth, with visitor centres like Johnnie Walker Princes Street provide a perfect entry point to discover Scotland’s food and drink, landscapes and history.”
Competition Time – Win an 18 year old Macallan
Enter our Whisky by Time competition for your chance to win a fine bottle of 18 year old Macallan. Worth over £350 this is the perfect drink for a winter’s evening. Enjoy the warm flavours of mature oak, ginger and raisin that make this whisky so sought after.
Our only condition – you must be 18 years or older. Visit our Instagram to find out more.
Good luck.
