Glengoyne Cask Club
by Gavin D Smith, 08/06
During the mid to late 1980s, investors made a killing trading in fine wines on the back of some stunning vintages. Bordeaux wines in particular saw huge gains. A 1992 report in the Financial Times showed an investment in 1982 vintage 1er cru claret had outperformed all other investments during the decade.
Encouraged by this phenomenon, a number of third-party brokers appeared in the early 1990s, offering casks of whisky as an investment opportunity. Unfortunately, there were one or two well publicised cases of unrealistic promises on returns being made and people investing in casks that simply did not exist.
be encouraged to visit as often as they can to see their cask. Secondly, we are telling all our cask owners that this is not a financial investment opportunity. This is a chance to get involved in the whisky production process. More than half the flavour in any single malt comes from maturation. A Glengoyne cask owner will make decisions that have a huge influence on their whisky's end flavour.”
|Now, however, Glengoyne distillery is offering whisky enthusiasts the chance to invest in a unique new cask purchasing scheme, and there need be no doubts that the whisky exists, because you can go and see it for yourself!
Glengoyne's Brand Heritage and Commercial Manager Stuart Hendry outlines why the distillery's ground-breaking venture differs from past cask purchasing opportunities.
"Firstly, we make the whisky, and cask owners will
Glengoyne is offering its potential cask owners a choice from eight to ten types of casks, with initial costs varying from £800 to £2500, depending on the size and provenance of the cask.
“Additionally, If owners would like to use a cask type that is not on our menu we will try to source it, providing it falls within Scotch Whisky Association cask guidelines and we satisfy ourselves of the cask's quality,” says Hendry.
The initial cost covers the price of the spirit, the cask and ten years storage and insurance. No further costs are incurred until bottling. Cask owners will decide for themselves when to bottle their whisky, though it is anticipated that the majority will opt to do so when the whisky is between 10 and 15 years of age.
whats' the cost?
Glengoyne offers the following example of the approximate cost of a 10-year-old first fill Oloroso Sherry hogshead, bottled at full cask strength:
Fresh Sherry hogshead, insurance & storage
Duty @ current rate
Bottling & labelling on 26 cases
(Approximate yield on 250 bulk litres @ 1.5% per annum evaporation, bottled at full strength = 313 bottles)
Cask owners will become members of an exclusive 'Cask Club,' located within the Glengoyne House development. They will be entitled to visit the warehouse, Club Room and Sample Room, and enjoy unlimited access to VIP tours at Glengoyne distillery. And, taking a leaf out of Bruichladdich's book, the stay-at-home cask owner will be able to watch his whisky mature on a warehouse webcam!
For further information on the Glengoyne 'Cask Club' email firstname.lastname@example.org or telephone + 44 (0) 1360 551402. See also www.glengoyne.com