100 Grand!

dalmore trinitas

Bottle Of Whisky Sold For Six Figure Sum

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Press release:

GLASGOW, Scotland October 14 – The first bottle of whisky in the world to break the six figure price barrier was revealed today by The Dalmore distillery which has sold two bottles for £100,000…each.

The 64 year old Trinitas, named because there were three bottles produced, was acquired by a luxury whisky lover in the US and a renowned whisky investor in the UK.

The third bottle of the record breaking spirit will be sold at the Whisky Show in London at the end of October. But organisers are keeping the exact details of the exclusive sale under wraps for the moment.

Industry experts claim that if the bottle was sold by the glass in exclusive restaurants and clubs, it could fetch up to £20,000 for a typical 50ml dram.

Trinitas is believed to contain some of the rarest and oldest stocks of whisky in the world, some of which have been maturing in the distillery on the shores of the Cromarty Firth for more than 140 years.

The Dalmore’s renowned master distiller Richard Paterson used his unrivalled expertise to fuse a range of these exclusive malts together.

He claimed this was not about breaking world records but about making the best whisky money can buy.

“The hand of time has been generous and rewarding with the malts I chose to use. They allowed me to create a taste sensation which will never be repeated again and will only ever be available to those that own these bottles. You cannot put a price on that.”

Paterson concluded: “People recognise that you have to pay a premium for true exclusivity, craftsmanship, quality and heritage. Even in this day and age, when times are tough, those that enjoy the finer things in life want to reward themselves with something very special. And you won’t get more special than The Dalmore 64.”

Comments

  1. Firstly, it is available here:

    http://www.thewhiskyexchange.com/dalmore64/index.html

    Secondly: Say what!!!!! This is a complete game changer. I am quite worried that every single malt is going to shoot up in price as of the next couple of minutes.

    The last most expensive bottle was, if I’m not mistaken, a 62 year old Dalmore that ended up selling for £32,000. Or so I thought. I typed in most expensive whisky into Google and up came a 1926 Macallan sold in 2005 for 43000 pounds. Either way, 100,000 is a huge jump for a whisky that is not much older or rarer than other insanely expensive bottles.

    The guys at Whisky Exchange know what they are doing. They think they will sell it and if they do, then I have to applaud them and Dalmore.

  2. This has nothing to do with global prices of entry level and premium malts, Chris. Those are dictated by the market and not someone’s pursuit of the most ridiculously offensive price.

    Personally, I think this is a joke. It made W&M £300k but I can’t help to think this is damaging to the brand in the long run.

    Would you not rather see 300 grand worth of young single cask Dalmores released this year?

    And why £100k a pop? Since the price has nothing to do with the juice they may have just as well charged £1m or £10m. There are enough idiots out there who would buy it.

  3. I would argue that by setting a price of 100,000 for a 64 year old and someone actually buying it, that it is potentially influential to the pricing of entry level malts. It changes the scale on which whisky is measured.

    Look at it this way: if their 64 year old costs 100,000, how much will their 40 year old cost? And in turn, how much their 30 and so on.

    Then you have other companies looking at it. I am sure their are some executives out their thinking: If they can do it, why not us?

    All the companies will change their top level whisky price, this will change their second level price and third level. Who knows, maybe they will leave their bottom level whisky at the same price, but we won’t be able to afford anything above the base level.

    In the end, I have to quote a fellow scot. Private James Frazer from Dad’s Army: ‘We’re all doomed!’

    (Perhaps with some exceptions. Glenfarclas, Benriach, Glendronach)

  4. I don’t follow your logic on this one, mate. Entry level malt market is worth hundreds of millions and is shaped by the market – the sellers and the buyers, supply and demand, and not by what executives think.

    Last year I read a piece of news about the most expensive bagel in the world. It was made by an award-winning chef in NYC, filled with white truffles and 24 carat gold flakes. It costed $1,000. I didn’t notice any change in the bacon roll price at my local chippy.

  5. Hey guys!

    So I just got done reading this article… I do think that a 100,000pound premium (which is roughly $158,368.57 – I don’t have the British Pound sign on my computer :) ) is outrageous for a bottle of whisky. I am an Agricultural Business/ Ag Economics major, so while I do think that this price is R-I-DICULOUS, I can understand the reasons behind this astronomical price tag.

    When producing a decent whisky, you have at least 7 or 10 years worth of time that you can’t really profit from that product right? That whisky is just sitting in the warehouse, biding its time, taking up space, losing roughly 2% of volume per year, etc.. but all the while, value is being added to the end result. Eventually, that whisky will eventually be sold and only then, can the producer begin to recover some of the costs associated with producing, storing and marketing the whisky.

    I mean, you guys already know this stuff, but economically and from a production standpoint, distilleries don’t really have a very liquid business . . . that is, it’s hard for them to convert their assets, the maturing barrels, into cash very easily. You’ve got the water, barley, yeast, energy (oil and heat), waste costs, labor costs, transportation costs. The price tag will have to be able to pay off all of these costs and still have a little left over if you want to earn any sort of profit.

    Like I said, for a decent whisky, there is a gap of at least 7, 12, 18, 20, what-have-you years. During this gap, you aren’t earning any revenue to pay off those costs. With a product that has been set aside and doing nothing but aging for 140 years-ish (partly), that’s a HUGE gap in which they didn’t profit from this product. From a production standpoint, they put inputs like those mentioned above, along with time into this whisky and they are just now able/deciding to (choose your term of choice) reap the benefits from their work.

    Granted, I don’t know how they acquired this whisky, but I’m sure that the variable production costs have long been paid off. Now that variable costs and production expenses are long forgotten, there is still the opportunity cost involved with producing this whisky. They could have allocated their time and space elsewhere, but I would bet that opportunity cost is the big player in this price tag. They are probably thinking, “Well, if we used our resources, time and energy producing this product, then what else could we have been doing instead of investing in these three bottles? What other activities or ventures or how many more batches of whisky could we have churned out by now and how do those profits compare to these three bottles?”

    Kind of going off of the comment above mine . . . If nothing else made sense, from the time that I spent in and around the industry this past summer, I’ve realized that whisky is an investment and the principles of the economics and market structures might give the most basic solution to overly priced whiskies: when there is a limited supply of a good, demand goes through the roof. With only one company providing a whisky like this (or at least how they describe it), they dominate this part of the market. When one firm dominates a particular part of the market and demand is high, they can charge whatever kind of premium they want. They can do this because there is a buyer out there somewhere who is willing to buy that 100k bottle.

    Ah! This would make a great thesis topic. Economics at its finest!!

    Take Care,
    Meghan
    University of Arkansas

    P.S. I LOVE YOUR BLOG.

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