All major whisky auction price indices experienced severe setbacks in the October round of auctions. Ardbeg, Macallan and Springbank are among the biggest index losers. Here is the Whiskystats Price Update for October 2024.
Trading volume on the secondary whisky market was shallow in the third quarter of 2024. At the same time, auction prices stabilised in some market segments. In October, auction activity increased with more than 29,500 bottles on offer, almost double the amount from August. However, that dramatic increase in trading volume came with a decrease in the per bottle price, as demonstrated by the Whiskystats auction price indices.
Index Losses
The broadest whisky auction price index, the Whiskystats Whisky Index, lost 4.3% in October. This setback kept the index in a sideward movement following three consecutive months of gains. The same holds true for the Whiskystats Scotland index and the recently introduced Ireland index. Both stayed within the margins of their sideward channel. Japanese whisky lost another 2.3%, continuing its downward trend.
The Whiskystats Brand Index Ranking shows that most of the leading whisky brands at auctions followed the overall downturn in October. Collector favourites like Macallan (-5.6%), Rosebank (-6%), Ardbeg (-6.9%), Balvenie (-7.4%), and Springbank (-7.5%) were all deep in the red. For some of these brands, such as Balvenie and Springbank, this latest setback in secondary market pricing erased all of the index gains from the summer months.
However, not all brands lost auction value in October. Glendronach (+0.2%) and Glengoyne (+1.2%) are the two most outstanding examples. It is not so much a stellar October performance that makes these brands stand apart, but rather the price stability both have demonstrated since the market correction phase started in 2022. While the Whiskystats Whisky Index is down by 20% over the past three years, Glengoyne remains stable at +2.6%, and the Glendronach auction price index even increased by 11%.
Pricing Setbacks
The Whiskystats market indices summarise the changes in various parts of the market. But confirming those index movements with price changes on a single whisky level is always good. One such example is the Balvenie DCS Compendium Chapter Three displayed below. During the market peak in 2022, auction buyer prices climbed close to €2,000. After a drop to €1,400, the price again started to climb towards €2,000 before falling to €1,750 in the October round of auctions.
The Springbank 40yo Millennium Bottling sold for €10,000 in June and €7,500 in July. On October 12 at WhiskyAuction.com, the price dropped back to €5,000, including buyer fees. Similarly, the Springbank 100° Proof Green Thistle dropped from €6,700 to €3,000, all at Whisky Auctioneer EU. An example of Macallan is the Macallan 10yo Cask Strength from 2000. This Speyside single malt regularly traded for more than €2,000 in 2022 and 2023 but has now dropped to €1,150 on certain occasions.
Disclaimer: The whisky market insights presented in this article are based on the Whiskystats database at the time of publication. Whiskystats is constantly adding new data; therefore, some charts and figures may not match after initial publication.