With its rich cultural history, rarity, popularity in classic cocktails or simply on the rocks by 2025 the global whisky market is forecast to reach £84 billion.
There is no difference between whisky and whiskey apart from the spelling. Whisky is used in Scotland, England and Japan whereas whiskey is used in Ireland and the United States.
Your dram may be American or Irish but Scotland is internationally regarded as the home of quality whisky. The Japanese market, however, has seen impressive growth with bottles from the silent distillery Karuizawa as well as Yamazaki and Hanyu gaining serious followers.
In October 2019 a world record was set when Sotheby's sold a bottle of The Macallan Fine and Rare 60 Year Old for almost $1.9 million in London. No other distillery has the history, reputation, and accolades of Macallan. Founded in 1824 it uses some of the smallest stills in Scotland, their unique size and shape gives the spirit maximum contact with the copper together with the exceptional quality of its oak casks cements its reputation.
Whisky enthusiasts can build a collection focused on specific distilleries or bottle releases, known as expressions. Limited and special releases typically perform better in second-hand markets as buyers are aware of the scarcity of the product. Devotees keep a careful eye on well-known distilleries such as Bowmore, Brora, Springbank, Glenugie, Laphroaig, Ben Wyvis, Killyloch, Clynelish, Port Ellen, Rosebank, Ardbeg and Dalmore.
Oak is always the vessel in which whisky is aged. Scottish distilleries use second-hand bourbon casks crafted from American oak which give the liquor sweet, fruity, vanilla and spicy overtones. European oak is also used primarily in the form of sherry butts from Spain - thanks to the finer grained, slower growing wood together with the tannins the whisky is darker in colour. Japanese whiskies are often matured in Mizunara oak which is more porous with higher levels of vanillins giving floral and fragrant tones.
Established in 1991 ILS World's private client team provide advice on trust and specialist company formation as tools to safeguard passion assets for owners and future successors. We have a great deal of experience working with clients who include collectibles as part of their investment portfolios. We are used to partnering with external accredited experts and acknowledged industry professionals such as storage experts. While the quality of unopened whisky generally stays the same for a long time, it is still important to properly store bottles to maintain peak quality. Bottles bought solely for investment purposes should not be opened and stored upright to avoid contact between the cork and spirit inside.
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• Multi-jurisdictional company incorporation
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• Acting as a trustee
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• Maintenance and upkeep
• Co-ordination and liaison the technical experts.
ILS World is a global provider of independent fiduciary services who successfully advise private clients including individuals, trustees and family offices on asset protection, wealth management and succession and estate planning.
We act in the long-term interest of our clients and pay careful attention to the quality and personal service we deliver.
Our private client team works hard to create long-term relationships and provide the highest level of service. We do this by being approachable, flexible and pragmatic. We offer regular face-to-face meetings as required and provide direct contact with a senior member of the team. Staff have diverse backgrounds, skills and interests and their professional experience together with their "can-do" attitude means they understand that wealth and business is inextricably linked.
Our private clients often require an international strategy and as a global business with offices in several key jurisdictions we are well-placed to provide a cohesive service.
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Please note: ILS World does not offer tax advice and would therefore recommend you obtain your own tax advice. If you require an introduction to a tax adviser we would be happy to assist.