A record £16mln rare Ardbeg whisky purchase by a private Asian collector has trounced the previous record of £1m set in April, when a 1988 Macallan was snapped up by a private US buyer.
Labelled Cask No 3 by Islay-based distillery Ardbeg, the 1975 single malt will remain on site, where 88 bottles will be tapped each year and sent to the buyer over the next five years.
Parent company LVHM’s president and CEO Thomas Moradpour said: “This sale is a source of pride for everyone in the Ardbeg community who has made our journey possible. Just 25 years ago, Ardbeg was on the brink of extinction, but today it is one of the most sought-after whiskies in the world.”
The belter of a deal represents a grand achievement for the 200-year-old distillery, which was shuttered for most of the 80s and 90s before being acquired by The Glenmorangie Company in 1997.
Rare whisky investments have been on something of a roll since the onset of the coronavirus pandemic, when asset-backed investments became a popular hedge against volatility in the equities market.
But this record rare whisky investment could prove volatile for another reason; at approximately £36,000 a bottle, each wee dram of Cask No 3 comes with an aye-watering depreciation cost, making it a drink for special occasions only.