Increasing Asian demand for high-end Scottish whisky prompts a huge surge in prices and exports
Scotland is being "stripped" of its best whisky, dealers have claimed, amid a surge in demand from wealthy Asian collectors.
Enthusiasts from countries such as China, Taiwan and Malaysia are driving up the price of whisky by buying up high-end bottles, which are becoming increasingly fashionable in the Far East.
Dealers say the sharp increase in demand has resulted in whisky being viewed as an attractive investment for collectors the UK.
For example, a 40-year-old bottle of GlenDronach, a highland scotch, is now valued at around £2,500 when it cost about £250 in 2011, according to experts.
While bottles of Macallan Private Eye were priced at £37 per bottle in 1996 but sales of the now spirit now reach up to £5,000. Another recent 29-year-old cask of Macallan sold for an eye-watering £215,000, meaning each bottle created would be worth more than £1,000.
The Speyside-based distillery also produced a series of commemorative bottlings to mark Royal events in 2011, 2012 and 2013 which would have cost less than £1,000 to own but would now cost up to £9,000 to purchase, dealers claim.
Products were created to celebrate the marriage of Prince William and Kate Middleton as well as the Queen's Diamond Jubilee and 60th anniversary of Her Majesty's coronation.
Matteo Menestrina, owner of The Speyside Whisky Shop in Aberlour, said: "Taiwan is a huge buyer as well, maybe even bigger than China.
"I have been told it is a status thing over there, something to show who's better than whom via the most expensive whisky. When they do business meetings, they open a big bottle to impress.
Another whisky dealer, Dale Tate who owns Fiddichside Whisky, also in Aberlour, said the demand for sales is being driven because whisky has become status symbol.
He said: "I've seen how in Chinese restaurants they just order old whisky and then don't even drink it because they don't like it.
"There, they wouldn't touch a 12 year-old-whisky which we in the UK would consider to be very good. They will only drink whisky over 18 years old.
"They just want to be seen ordering the most expensive and the best of everything."
When asked if it is fair to say that Scotland is being stripped of its best whisky, he said: "Absolutely."
Mr Tate added the thirst from the Asian market had created opportunities for British enthusiasts to make a profit from collecting whisky.
He said: "With interest rates at an all time low, people looking for alternative investments are now flocking to secure bottles of whisky."
