This auction continued along the same lines as the last. Some very prestigious lots experienced disappointing results close to their low estimates, while more affordable lots received a high number of bids and great results as a result. The current climate is leading bidders to remain cautious, bidding primarily on affordable lots with lower associated risks.
This is particularly true of Japanese whisky. The Yamazaki Owner’s Casks, Yamazaki Sherry Cask 2013, and Karuizawa single casks all went for close to their low estimates and received few bids. Several special editions of Hibiki, such as the Japanese Harmony 30th Anniversary edition, were in contrast very well-received, coming close to or reaching their high estimates. The prevailing rule was that the rarest and most expensive lots of Japanese whisky underperformed, while more affordable limited editions received the best bids. When it came to classic editions, these old sold easily, generally with good results.
In Scotland, Springbank showed incredible resilience, with several lots far exceeding their high estimates, including three bottles of Springbank 25 Year Old 1992 (#118) which fetched €800-€850, versus a high estimate of €600. Staying in Campbeltown, a Glen Scotia 1977 Prestonfield went for €700, versus a high estimate of €650—a great result for a bottle whose praises we sang in our View from the Golden Promise. Other Scottish distilleries also saw great results, including Ben Nevis, whose 32 Year Old 1972 fetched almost double its high estimate (€1,350 vs. €750), a GlenDronach 1970 Prestonfield which fetched over double its high estimate (€1,050 vs. €500) and two bottles of Lagavulin 21 Year Old 1985, which went for a hammer price equivalent to their high estimate. High-quality whisky therefore seems oblivious to any crisis and continues to attract interest, with a high number of bids and impressive hammer prices. More prestigious producers more prone to speculation such as Macallan, however, did not benefit from the same success.
For rum, bids were shared between sought-after brands with stable performance, such as J.M. and Velier Caroni, and other less well-known brands that offer bidders interesting opportunities, like Trois Rivières and Séverin. There was an excellent surprise for the West Indies, with two bottles of Clément 1976 fetching €400, versus a high estimate of €320, once again demonstrating the category’s potential, which could be set to grow in coming years.
Chartreuse continued its strong upswing and rising popularity among bidders, with excellent results often close to or above their high estimates. These included, for example, bids on older bottlings of V.E.P., Reine des Liqueurs editions and Liqueur du 9e Centenaire. Older Chartreuse, like the Tarragone and Vieilles Voiron editions, saw more mediocre results, with some coming close to their high estimates and others failing to find a buyer. Once again, this reflects bidders’ desire to focus on bottles with high appreciation potential rather than those whose values are already recognized.