The start of the year is traditionally a little quieter than usual, and this auction, the biggest lots of Scottish and Japanese whiskies generally stayed quite close to their low estimates (Yamazaki 1993, Macallan). Some did see some excellent results, however, such as the Hanyu Jack of Hearts (€14,396), the Macallan 52 Year Old 1946 Select Reserve (€23,010), the Springbank 25 Year Old 1992 (€1,121), the Laphroaig 31 Year Old 1974 (€9,588) and several special editions of Suntory’s flagship blend Hibiki. Miyagikyo also stood out with a 1990 bottling rarely seen at auction which was quick to catch the attention of collectors (€3,068).
Rum, on the other hand, continued to flourish, with high estimates often reached or exceeded for highly sought-after bottlings like the Demeraras (Guyana) and Caronis (Trinidad and Tobago) bottled by renowned Italian bottler Velier. UF30E 1985, for example, saw a hammer price of €7,080, Diamond 1981 fetched €6,726, and the Caroni 15 Year Old 2000 Single Cask #3767 for La Maison du Whisky went for €4,602. This long-standing and consistent progress anchors their position as the category’s spearheads, similar to the Scottish, Japanese and American whiskies whose long-term price rises seem to know no bounds.
There were few American whiskeys under the hammer this auction and results were a little subdued, varying greatly from one bottle to the next, with some reaching their high estimate and others staying at the low estimate or somewhere in between. It’s difficult to say why and no clear trends stand out.
For Chartreuse, the results also varied depending on the bottle. Bidders focused on higher quality lots with good fill levels that were in a good condition. After impressive momentum last year, the market looks to be slowing down and become more discerning before perhaps seeing a gradual return to form in the future. More recent and accessible editions (V.E.P., Tau, Liqueur du 9e Centenaire and other limited editions), on the other hand, saw excellent results well above their high estimates.
Finally, Gianni Capovilla’s grappas for Velier were an unexpected hit. Having been given fairly conservative estimates (the category rarely performs that well at auction), they found hammer prices significantly above their high estimates. The same success was seen for Capovilla’s Rhum Rhum Libération 2012, an edition many consider to be one of the finest from the small distillery founded in partnership with Luca Gargano in Marie-Galante. French spirits such as cognac and Armagnac struggled a little more due to abundant supply—a phenomenon that rarely encourages high bidding. Household names like Rémy Martin and Hennessy nonetheless managed to do well, with reasonable but unspectacular hammer prices.