Whisky prices?

[Delboyscap]

Hi all,

I hope everyone is doing well and still finding decent drams at good prices. I wanted to ask what are people's thoughts and experiences on whisky prices? Where do you see things going and what are you noticing in your area?

I am based in Australia and given the geographical location we are often a few months behind the rest of the world, both in times of releases and trends. What I have noticed is that there have been a number of sales recently which suggest that the economy is suffering a little. But what I believe may also be causing this is that big retailers are dumping their old stocks, ready to increase the prices when the new stock arrives. For instance they seem to be clearing certain lines like the Clynelish 14 to clear the stock, and then wait a week or two and reintroduce at the higher prices.

Does anyone have any thoughts on where you think things are headed? I also see especially at the big retailers here in Australia, that there have been a few Australian whiskies sold at what must be 'cost price' for these releases which might suggest that the growth of Australian whisky has reached its peak and that they are now struggling to sell their stock, something I have predicted would happen for a couple of years now.

Interested in any perspectives.

[Albie]

I feel premium whisky prices edged up on the back of Covid, taking advantage of the increased number of drink at home drinkers who still drink at home post Covid. Whisky companies have been announcing record profits.

Whether the Russian invasion of the Ukraine is going to have a big impact on the current whisky prices remains to be seen. Obviously production and distribution costs will have ramped up for the whisky companies, whether they decide to absorb these costs or pass them on to maintain their huge profits remains to be seen here. Hopefully not as a lot of people will not have spare cash for luxury buys such as malt whisky.

There are still many decent whiskies here to suit all tastes to be had in the £20 - £100 price range.

[Delboyscap]

Yes, I am definitely seeing price rises on the more premium lines, especially the premium aged malts which have been rising steadily over the years. The price of Lagavulin 16 shot up very recently both here in Australia and the UK.

It will be interesting what happens generally. Ralfy seems to think the prices will rise across the board and I suppose given that everything seems to be rising then that is not too much of a stretch to think.

[BigShing]

Lagavulin 16 is not really a premium line, it was a high-entry/low-mid level malt of astoundingly inconsistent quality. It was universally available everwhere for years at £49 a bottle, now you're lucky to find it under £75 (and I can't say if the 50% mark up has improved the quality, because I'll never pay for it at that price). Luckily I have amassed a half decent whisky collection when prices were reasonable that I can sit back and syphon that for the next five years, but IMO prices have been spiralling out of control for about two years now across the board and the entire whisky industry has become something of a dead end for anyone who isn't at least middle class and able to splurge £70 on a bottle without giving it a second thought. Yes there are still good inexpensive drams under £60 out there, but that pool is getting shallower and shallower and is starting to offer very little room for exploration and growth.

When my whisky collection eventually evaporates I will not be building it up again, there are other hobbies and other spirits that offer better value for my time and money. It's sad to have to say that, but it's just the reality of the industry now.

[Steve Cribb]

I have certaiinly found that I drink older whiskies less and less over the llast few years because of the price and the prices do appear to be still rising for the older aged whiskies.

[Delboyscap]

Yeah, sorry was not meaning to call Lagavulin a premium line, I just didn't structure my post in the right way and the Lagavulin stuff was a separate point.

Some great points and I tend to agree. The prices have been creeping up every year well above inflation, before inflation really started to go crazy in the last two years. I feel the same with the future and not replacing bottles when they run out. I am a getting a bit exasperated with it all. Yes, there are still good quality malts and decent prices, but perhaps not for much longer.

I can see a number of distilleries going bust in the next 2-5 years too. Once the collectors lose interest when the market stagnates, the whole bubble will burst. At the moment it seems that only around 50-60% of the whisky produced is actually drunk, the rest is in cupboards. Things might get really interesting in the next 24 months.

[Delboyscap]

[MartinG]

I think distilleries and shops are blatantly profiteering but if people are willing to pay why not?

[BigShing]

Just realised that Oban 14 has also been hit with the Diageo price hammer. It;s now over £70 a bottle at a lot of places. Just let that one sink in for a second... just, wow!

[ralfy legend]

If u can afford it then things will not change but with the offers still around then you will still get a good enjoyable whisky, drinking less is the best option nowadays I think , not having a drink for two weeks to a month really gets my palate buzzing.

[Scotchnthings]

I feel like the cost of production and taxation on liquor in Australia makes it quite difficult for Australian Distilleries to remain competitive with the imported scotch whisky. However Starward as an exception seems to be well backed and a good budget buy. And I do like the cask strength stuff from Limeburners, but it feels a bit generic and at that price you can grab better quality IMHO. So maybe they have to squeeze their prices a bit? It's a matter of time that prices will tank all over the whisky board tho, but it might take some time. I feel there are def still good value buys out there if you don't chase the unicorns.

[Scotchnthings]

And stop buying Diageo, they don't care about you so why would you care about them. Ledaig is an excellent lagavulin replacement, craigellachie for your clynelish... Soooo much choice out there.

[BigShing]

Yeah, I've not bought a bottle of whisky all year, and Black Friday hasn't changed my mind! What blows my mind is that it's Oban 4 we're talking about, which is a nice malt, but not exactly something that screams out WOW. £70 is nuts. At least Laga 16 is a more prestigious malt, despite the consistency issues.

[Scotchnthings]