After a spell of spirited bidding, a rare bottle of Macallan “M” whisky was sold for a world record $628,205 at Sotheby’s auction in Hong Kong over the weekend. The Macallan M single malt whisky had a pre-auction estimate of $258,000-$516,000, that price point was easily surpassed during the sale.
The beautiful crystal decanter was designed and made by French crystal maker Lalique, that itself was a significant factor in driving the price up in addition to the quality and rarity of the whisky. What makes this a truly rare bottle of whisky is the fact that in Scottish distilleries history only four Imperiale “M” Decanters were ever made. According to Lalique, it took 17 craftsmen over 50 hours to complete each 6-liter decanter.
Whisky aficionados notes in the maturing Asian market and especially in China, rare whiskeys are viewed as investments the same way as wines or even as an alternative to fine wine. So the price is driven by the quality and rarity, similar to wine.
“In 2009, we only sold a handful of wines. Now that the market is expanding, and buyers become more sophisticated and knowledgeable, whisky becomes a part of that,” Robert Sleigh, head of wine, Sotheby’s Asia told CNBC on Monday.
Previous world record also belonged to a Macallan, sold in 2010 for $460,000 by Sotheby’s in New York. According to Sotheby’s proceeds from the sale of “M” Decanter will benefit various charities in Hong Kong.
Source: NBC News