Stop the press! Now is the time to buy rare single malt whisky

Whisky expert Charles Beamish, of Beamish International, reveals ‘short window of opportunity’ for serious whisky lovers.

I have exciting news. There’s been a re-correction in rare single malt whisky pricing – and the market is recovering. Prices went ‘whoosh!’ during an incredible boom from 2018 to 2023 but then began to drop. Right now, though, secondary market prices are going back up and, like financial market recoveries, it happens very quickly.

This means if anyone wants to create value from buying rare whisky, there is no better time to do so because deals are there to be had and top Scotch Whisky producers have elevated their private client experiences. I see this window of opportunity lasting probably only three to six months, around the first quarter of 2026, before everyone jumps on board.

Macallan’s influence

Beamish International specialises in advising private clients, family offices and funds on the acquisition of rare single malt whisky. We have sold two bottles of The Macallan bottles for more than £1 million each during the last few years; each was part of the Fine and Rare Collection, the largest assembly of vintage-dated, single malt whiskies in the world. It's a collection of 63 bottles and there are only a few individuals in the world who own a full set. The Macallan is very collectible because it sits at the intersection of heritage, scarcity, quality, and smart brand positioning, setting the blueprint for luxury Scotch. We have a close relationship with The Macallan and as such we receive unique offers for our top clients.

We manage the process of buying on behalf of our clients; our business is to give guarantees and assurances to clients and that’s based on provenance of casks, authenticity of bottles, and USPs such as direct pricing. There are no markups through distribution of merchants, traders and brokers – importantly, we have the experience to navigate the industry. Beamish International is structured as a direct consumer business holding contracts with top producers so clients can buy products directly from these distilleries, which guarantees provenance, authenticity and secures the direct price. By doing that, we can curate the experience around a client’s purchase. We are a support service for both the supplier and the client; we're structured as an agent (rather than as a merchant trader or broker) which benefits the client in terms of transparency. Importantly, as we’re not a merchant, we don't hold the products or sell for additional margins. Our role is to create relationships with the people who want to collect, consume, or gift whisky. Beamish International has a diverse set of expertise, but our USP is offering incredibly rare products that nobody else can access and clients come to us because they're naturally curious. We can project-manage a client’s single cask bottling or offer them whisky that we expect will gain in value over time and we offer our experience in areas such as storage, logistics, international fulfilment, and portfolio management.

Who are the buyers?

Countries traditionally attuned to the whisky industry include China and Southeast Asia, Japan and India. There's also cultural interest from the US, often through Americans who have ancestral links to Scotland. We’re seeing more and more interest closer to home, too.
Beamish International focuses on ultra-high net worth clients who want to enjoy everything Scotland has to offer from sport to nature and most importantly Scotch Whisky.

We offer experiences in terms of the products and the organisations behind the product, as well as meeting the stars of the show such as master distillers who share their knowledge. It’s such a beautiful place.

Where to start investing?

It’s only over the last, say, 15 years that whisky has become extremely collectible. I would advise buyers who are new to the rare malt whisky industry to come to a trusted advisor as it can be a complex industry to navigate for new prospects. For people who want to get involved in creating value, we shouldn’t really use the word ‘investment’ because the whisky industry, as a luxury asset class, isn’t structured as a financially regulated market.

We prefer to see any financial gains as a byproduct of buying something you have a passion for, much like contemporary art. The reason why brokers and agents exist within the industry is that they've been building relationships over lengthy periods of time, sometimes decades, and that enables them access to incredibly prestigious allocations that nobody else has.

It involves exploring and trying things that nobody else has tried before. We've been operating for eight years and sold more than £130 million-worth of whisky. We grow organically, through word-of-mouth recommendations. Beamish International focuses on traditional heritage distilleries that have excellent quality whisky that they have lovingly maintained over a lengthy period.

Tax break bonus

Cask whisky is categorised as a wasting asset / wasting chattel according to HMRC so with barrels bought under bond they are free from Capital Gains Tax.  As long as the barrels are kept in HM Revenue & Customs’ approved duty-suspended warehouses they can be bought and sold or gifted without being subject to capital gains tax but as soon as the whisky is bottled it is subject to duty and VAT.

I would always suggest getting tax advice if the intention is to invest or pass wealth to future generations.

Who should collect whisky?

Let’s not forget that whisky is supposed to be appreciated and consumed.

I wouldn't get involved if you're not interested in the whisky industry. You should be curious about whisky and serious about getting involved. It requires time, availability and a sense of curiosity that can turn into a passion.

Whisky is meant to be enjoyed with friends, family and colleagues, people you like and trust. You can be incredibly proud to share the journey that you've taken.

About Charles Beamish Charles Beamish founded Beamish International in 2018 to bring the bespoke private client model to the rare whisky sector. A pioneer in the direct-to-distillery model, Charles provides high-net-worth clients with privileged access to the rarest Scotch single malts, underpinned by verified provenance and direct relationships with producers. Before founding Beamish International, Charles started his whisky journey at Whyte & Mackay where he had a ‘great boss and mentor’ and helped establish and lead the private client division. His background in financial services, brand building and luxury asset management shaped his client-first approach. Charles travels the world to see clients and hosts rare whisky tastings in key cities all across Asia, such as in Japan, China, Thailand, Indonesia and Hong Kong. The next trip coincides with the famous Burns night coming at the end of January where no less than six whiskies more than 50 years old will be sampled). Visit beamishinternational.com

Insuring your whisky collection

For collectors, have the right insurance in place is vital. Whether you’re investing in whisky or simply enjoying it, protect your collection as you would a piece of art.

Standard home insurance often won’t provide adequate cover. We can cover collections in bottle or in cask and offer home insurance policies that accommodate high-value whisky and wine collections.

We also work closely with many whisky companies. Our dedicated practice has an unrivalled understanding and knowledge of the insurance challenges facing the industry. We have experience in providing risk-based solutions and designing appropriate insurance programmes and risk management solutions.

To speak to Howden about your bottled whisky or whiskey in cask contact Alexandra Richards at alexandra.richards@howdeninsurance.co.uk or call Alex on 07464 545648.