Whisky investment

Christofeses

Has anyone had any experience with cask whisky investments and what to do when the company won’t sell your casks?
I am dealing with Elite Wine and Whisky.

Ayr_Rage

If you have a TV licence watch this first

https://www.bbc.co.uk/programmes/m0029dz2

Christofeses

Thanks. I will check it out.

Cairnpapple

Also a podcast at https://www.bbc.co.uk/sounds/series/m0029kxy if that is your preferred format. 

Albermarle

Christofeses said:

Has anyone had any experience with cask whisky investments and what to do when the company won’t sell your casks?
I am dealing with Elite Wine and Whisky.

Maybe they will not sell them because they do not actually exist ?

Be wary of whisky cask 'investments' - Which?

Emmia

My assumption was always that this sort of thing was a total scam.

TadleyBaggie

I believe there are genuine whisky investments with modest returns, but the ones that promise huge returns are almost certainly bogus.

QrizB

My assumption has always been that, if I can satisfy myself that the casks actually exist,.if I can't sell them I should be prepared to take possession of them and drink them.

(This is theoretical, I've not actually "invested" in booze so far.)

Nebulous2

Unfortunately whisky, like a lot of exotic investments, has a lot of traps for people who aren't knowledgeable. We are also in a phase where they are worried about the international market, and cutting back production, because it has grown too much. That means prices are weakening. 

I've an acquaintance with a half-barrel, that they are considering bottling and giving as gifts, but they have a lot of tax to pay to get it out of the bonded warehouse. It was a reopened distillery that had been mothballed, and the company was trying to get some income before the whisky was mature enough to be sold, and promoted the barrels. 

A change of ownership, and they are now pushing my friend quite hard to do something with it, they don't want to keep it any longer. 

It hasn't been a hugely successful reopening, the whisky has decent reviews, but isn't outstanding, and factoring in the costs, storage costs, tax, bottling and labelling it will be fairly expensive novelty personalised gifts, rather than an investment. 

louby40

Rebel Finance School always advise not to invest in whiskey or gold. 

Albermarle

louby40 said:

Rebel Finance School always advise not to invest in whiskey or gold. 

Not sure if you can compare the two.

Whiskey investment is specialised and is infested with some dodgy operators.

Gold is a simple traditional investment and very widely held. Of course like any investment there is debate about whether to hold some, and how much. .