Noble & Co. just released their latest market intelligence report on the secondary whisky market...here are the topline findings: Headline Insights from October 2024 to January 2025: Ongoing Market Correction: The secondary market experienced an ongoing substantial decline, with total transaction volume down 21% YoY and total value transacted falling 53% YoY. This was driven by a broad-based compression in bottle prices and a retreat from high-end collecting. Pricing Pressure: The average price per bottle decreased from £320 in H1 2024 to £277 in H2 2024, with several months dipping below the £300 threshold. However, January 2025 did show a modest 5% price rebound YoY — a potential early signal of market recalibration (although it is the low volume month of January so we wouldn’t want to overstate this). Top-End Weakness: Bottles priced above £10,000 represented 32.5% of value last year, but this fell to just 6.8% in the latest quarter. High-value lots have contracted due to both supply-side caution and a cooling in collector appetite. Shifts in Demand Dynamics: The share of market value from bottles under £1,000 rose sharply from 37.4% to 59.2%, with core-range and mid-tier expressions dominating volume. Brand Performance: The Macallan continues to dominate the value league tables — particularly with ultra-aged expressions like the 60YO Lalique and the Red Collection. Springbank continues to be the standout brand among mid-tier collectors, buoyed by consistent performance from its 12YO Cask Strength, 18YO, and 21YO expressions. Volatility and Selectivity: High volatility was observed in other more readily available bottles (e.g. Laphroaig 10YO, The Glendronach 12YO).

Posted by Mark at 2025-04-28 16:01:40 UTC