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Single malt scotch sells for world record $628,000 at auction
Ansuya Harjani CNBC.com
5 hours ago
SOTHEBY'S via AFP - Getty Images
The Macallan 'M' Decanter 6-litre Imperiale single malt whisky sold at auction for a world record $628,205 at Sotheby's in Hong Kong at the weekend.
Who says sales of scotch are on the rocks?
A rare bottle of Macallan whisky has set a world record for the most expensive single malt whisky sold at an auction.
The six-liter bottle of the highly sought-after Macallan 'M' in a crystal decanter fetched $628,205 at Sotheby's auction in Hong Kong at the weekend, above the expected range of $258,000 to $516,000.
The previous record was achieved at a Sotheby's auction in New York in 2010, when a bottle of 64-year-old Macallan whisky was sold for $460,000.
Proceeds of the sale of the "M" Decanter were to go to various Hong Kong charities, according to Sotheby's.
Only four Imperiale “M” Decanters were ever made by the Scottish distillery.
As the Asian market matures, high-end whisky is increasingly being viewed as a viable alternative investment to fine wine.
"In 2009, we only sold a handful of wines. Now that the market is expanding, and buyers become more sophisticated and knowledge, whisky becomes a part of that," Robert Sleigh, head of wine, Sotheby's Asia told CNBC on Monday.
When investing in whisky, the main drivers of price are quality and rarity, he said, similar to wine. In the case of the Macallan M, it was a combination of the quality and rarity of the whisky as well as the decanter designed by French crystal maker Lalique, Sleigh said
Ansuya Harjani CNBC.com
5 hours ago
SOTHEBY'S via AFP - Getty ImagesThe Macallan 'M' Decanter 6-litre Imperiale single malt whisky sold at auction for a world record $628,205 at Sotheby's in Hong Kong at the weekend.
Who says sales of scotch are on the rocks?
A rare bottle of Macallan whisky has set a world record for the most expensive single malt whisky sold at an auction.
The six-liter bottle of the highly sought-after Macallan 'M' in a crystal decanter fetched $628,205 at Sotheby's auction in Hong Kong at the weekend, above the expected range of $258,000 to $516,000.
The previous record was achieved at a Sotheby's auction in New York in 2010, when a bottle of 64-year-old Macallan whisky was sold for $460,000.
Proceeds of the sale of the "M" Decanter were to go to various Hong Kong charities, according to Sotheby's.
Only four Imperiale “M” Decanters were ever made by the Scottish distillery.
As the Asian market matures, high-end whisky is increasingly being viewed as a viable alternative investment to fine wine.
"In 2009, we only sold a handful of wines. Now that the market is expanding, and buyers become more sophisticated and knowledge, whisky becomes a part of that," Robert Sleigh, head of wine, Sotheby's Asia told CNBC on Monday.
When investing in whisky, the main drivers of price are quality and rarity, he said, similar to wine. In the case of the Macallan M, it was a combination of the quality and rarity of the whisky as well as the decanter designed by French crystal maker Lalique, Sleigh said