📰 MARKET MONDAY

🥃 Welcome to Market Monday

Whether you're chasing sherry bombs, portfolio growth, or just better bottle deals — Market Monday is your whisky intelligence drop. Every week we break down trends from UK auctions, pair them with U.S. relevance, and help you stay ahead of the curve.

Let’s get to it.

🏆 Auction Watch – August Standouts

Bonhams Hong Kong – Rare & Fine Wine & Whisky

• Karuizawa 1981, Cask #8461 – HKD 880,000 (~USD $112,000)
  A reminder that high-age, single-cask Japanese whisky remains in a league of its own, with collectors willing to pay six figures for the right bottle.

• Macallan 18 Sherry Oak (2022) – HKD 13,000 (~USD $1,660)
  Proof that modern Macallan continues to outperform retail in Asia despite higher production volumes.

Scotch Whisky Auctions – July Results (Reported Aug 5)

• Springbank 21 (2023) – £675 (~USD $875)
  Slightly off its early 2024 highs, suggesting a more balanced Campbeltown market after months of sharp rises.

• Ardbeg Hypernova Committee Release – £230 (~USD $300)
  Holding steady, showing continued demand for Ardbeg’s limited smoky experiments.

Whisky Hammer – August 4 Sale

• GlenDronach 1993 Cask #658 – £1,450 (~USD $1,875)
  Sherry cask lovers continue to chase ’90s GlenDronach vintages, with prices holding above their early-2023 levels.

• Buffalo Trace Antique Collection – George T. Stagg (2022) – £775 (~USD $1,000)
  BTAC demand remains robust internationally, even with strong U.S. retail markups.📈 Auction Watch – This Week’s Highlights

Bonhams Hong Kong – Rare & Fine Wine & Whisky

• Macallan 18 Sherry Oak (2022 Release): HKD 13,000 (~USD $1,660 / £1,280) – slightly above current retail, showing continued Macallan brand premium in Asia.

• Karuizawa 1981, Cask #8461: HKD 880,000 (~USD $112,000 / £86,000) – underscoring persistent Japanese rarity demand.

Scotch Whisky Auctions – July Results

• Springbank 21 Year Old (2023): £675 (~USD $875) – down from highs earlier this year, suggesting market cooling in Campbeltown prestige bottles.

• Ardbeg Hypernova Committee Release: £230 (~USD $300) – consistent with recent secondary trading range.

👁 Collector’s Eye – August Takeaways
This month’s auctions reveal a tale of two markets: Japanese icons and heritage Scotch remain the crown jewels for global collectors, while modern limited releases are finding a stable, more predictable price range. Karuizawa’s continued six-figure sales prove that scarcity, coupled with a romantic brand narrative, will always command premium bids. On the Scotch front, Macallan’s enduring strength—despite increased output—suggests that brand prestige can offset supply pressure. Springbank and GlenDronach show that enthusiasts still pay a premium for liquid quality and legacy production styles, though prices have cooled from speculative peaks. For U.S. collectors, the sustained demand for BTAC overseas is a reminder that international markets are now shaping the price floor for American whiskey.

Bottom line: High pedigree and authentic scarcity still rule, but the froth of 2021–2023 speculation is settling into a more mature, discerning collector landscape.

💡 Key Takeaways

• Japanese whisky scarcity remains a strong driver of premium pricing, especially in Asia.

• Macallan’s market resilience continues, even for relatively recent releases.

• Some premium Campbeltown bottles are showing slight pullbacks — a possible buying window for patient collectors.

🇺🇸 U.S. Market Insight

Retail Spotlight – August Trends

• Heaven Hill Bottled-in-Bond 7 Year: Widely available at MSRP ($45–50) — worth grabbing before potential allocation tightening.

• Balvenie 12 DoubleWood: National average ~$72 — holding steady despite rising costs elsewhere. Strong entry point for Speyside fans.

• Jack Daniel’s Bonded Rye: Around $35 — an excellent value play in the American whiskey space right now, especially for cocktail use.

Emerging Trend – Store Pick Premiums
Some U.S. retailers are starting to price single-barrel store picks 10–15% higher than the standard release. For example, Knob Creek Single Barrel Picks now regularly appear at $60–65 instead of $50. This could signal a shift toward perceived collectability in store-exclusive offerings.

📊 Market Meter – This Week’s Movement

• Stable: GlenDronach 12, GlenAllachie 15, Ardbeg 10

• Up: Yamazaki 12, Macallan Double Cask 18

• Down: Springbank 21, Hibiki Harmony

📌 Editor’s Note

The late summer market often sees a lull in major auction volumes before autumn’s flagship sales. This is a good time for U.S.-based buyers to keep an eye on both retail shelves and secondary markets for overlooked opportunities — especially for distilleries that tend to spike in Q4.

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Until next dram,

Nick on the Rocks
Editor, The Dram Dispatch
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