A barrel of Scotch whiskey sold for a sum

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A barrel of rare Scotch whiskey was sold for £ 16 million to a private Asian collector, breaking the previous world record of £ 1 million set just months ago, according to the Financial Times.

The drink, which dates back to November 1975, was produced at the 207-year-old Ardbeg distillery on the Scottish island of Islay, west of Glasgow.

The £ 16 million barrel, known as Cask No 3, sold more than double the price Ardbeg owner Glenmorangie Co, a subsidiary of luxury group LVMH, paid for the distillery and all its stocks. in 1997.

About 88 bottles, priced at about £ 36,000 each, will be removed from the barrel each year for the next five years and delivered to the Asian whiskey enthusiast.

The sale is a new benchmark for the increasingly competitive market for rare whiskey.

Last year, a record 172,500 single-malt scotch bottles were traded on the secondary market, valued at £ 75 million, up from almost £ 58 million a year earlier, according to estimates Rare Whiskey 101 Index.

The previous record for the most expensive whiskey barrel was held by a distillate in 1988 at the Macallan estate in the Scottish Highlands, which was sold to an American collector for £ 1 million in April.

In 2019, however, a 60-year-old bottle of Macallan single malt from 1926, very rarely, from the same distillery, brought in almost 1.5 million pounds.

Thomas Moradpour, president and CEO of Glenmorangie Co., said the £ 16 million barrel was a “source of pride” for the Ardbeg community in Islay, which watched as the distillery returned from its “extinction threshold” to become “One of the most sought after whiskeys in the world.”

The Ardbeg distillery, which began commercial production in 1815, was suspended for most of the 1980s and almost permanently closed in 1996, before being bought by Glenmorangie Co. As a result, there are few Ardbeg whiskeys left that were distilled before 1981. The £ 16 million barrel is the oldest whiskey ever launched by the distillery.