If you are planning to sell a bottle whisky in 2024 here are 5 things to know before you start. Photo: Mark Littler Ltd
Whether you have decided to sell your whisky bottles or are still deciding, in this article we cover the five things you need to know when selling bottles of whisky online in 2024.
1. You may need to pay capital gains tax
As of 2024 all online based services where you can sell items have to report sales above certain thresholds to HMRC. If you’re a private individual selling your stuff online then the threshold is £6,000.
The UK Government’s online information states, “If you are just selling some unwanted items that have been laying around your home, such as the contents of a loft or garage, it is unlikely that you will have to pay tax.”
This covers things like selling your old stuff on eBay, and probably also an old whisky bottle that’s been stuffed in the back of your drinks cabinet for 30 years. It’s unlikely to apply if you are regularly buying and selling bottles of whisky online.
The system introduced in 2024 for tax reporting in 2025 means that tf the item you are selling is between £1,700 and £6,000, or you sell more than 30 items a year, HMRC will know. That means that even if you don’t have to pay tax, you should take care to declare your income. If you’re selling as a private individual and the item sells for over £6,000 gross then in the UK you’ll be liable for capital gains tax.
The aim of the new system is to catch undeclared (or unknowing) traders not private individuals, but be aware that HMRC will now be aware of all online sales activity, so if you think you might be classed as a trader, make sure you get tax advice.
2. Licencing Laws For Selling Alcohol Are Very Strict
The rules around selling alcohol in the UK are strict and that limits how you can sell whisky. You can’t sell alcohol directly to someone else unless you have the right licences or go through someone who does.
If you are looking to sell your whisky online you can use a broker, like Mark Littler LTD, sell via an auction house or alternatively you can sell direct to a retailer so long as they have the right licences. You cannot sell whisky on Facebook or eBay as a private individual.
3. How Are You Going To Ship Your Whisky?
Posting alcohol in the UK is difficult, and if your bottle is worth a lot, do you really want to hand it over to a regular courier? How to get your whisky to the point of sale is going to be linked to how you plan to sell.
For example, some auction houses will have regular collections, but often these will only cover high volume areas.
Mark Littler Ltd has a fully insured courier service including packing materials and return postage, to make the process as easy as possible while giving your precious bottles maximum protection. If you are selling direct to a retailer or other broker make sure you check how to ship the bottle to them and whether you can get insurance.
4. There Is A Difference Between You Selling Privately And A Retailer Selling In Their Shop
The internet makes it easy to search for things and see values, but it’s important to realise that what an official retailer can sell a bottle for, is not always what you’re going to be able to achieve as a private individual. One question we get on a regular basis is why the auction estimate or private offer is so much lower than what official whisky retailers are charging?
This phenomenon isn’t just found when selling whisky online; it’s the same as buying art at auction versus through a gallery. Or how you might go to eBay or a local auction to pick up something cheaper compared to buying it through a regular shop. The retail environment adds cost because of additional overheads and taxes (business and VAT), but for the purchaser retail can also give additional assurances and guarantees.
It is the same with the whisky industry. Auction tends to be the cheaper option and as you are bidding against contemporaries it establishes a market value that everyone is happy to pay within the sphere of buying at auction and the limitations associated with it. I.e. you have to wait for your preferred bottle to appear and you’re not going to get next day delivery.
Similarly, specialist whisky auctions do provide some verification, but they are dealing with very high volumes. At retail purchasers can get fast shipping, guarantees, and depending on where you buy an instore retail experience.
5. Your Bottle’s Not Worth The Same Amount Everywhere
The final point follows on from the previous one, in so much as different people will pay different amounts for your bottle and different sales routes can get you varying results. The price you can achieve selling one bottle of whisky online depends on a few things, but, within a range, the final return is going to be largely dependent on where you sell it and how much time you have.
If you decide to go down the auction route then it’s important to know that the hammer price for the same bottle during a single month can be significantly different between auction houses. As the secondary market for whisky grows, more and more specialist online auctions are setting up. This gives sellers (and buyers) more and more choice, but as they have different marketing budgets and different audiences there can be a difference between prices achieved. One auction house may be better than others for your particular bottle.
That means that whether you are selling or buying whisky online, don’t fall into the trap of just sticking with one platform. Shop around to see if you can buy it cheaper or sell it for more elsewhere.
Private sale (via a licensed broker or platform) are likely to be roughly around the auction range. If you have more time then there is the option to sell through the retail style marketplaces, like the Mark Littler shop. This puts bottles in a retail environment giving you the chance to make more for your bottle, but still offering savings to buyers over traditional retail platforms.
Record setting, exceptionally rare and sought after bottles can sometimes do better at specialist traditional auctions. But there are time and cost premiums associated with selling this way. If you think your bottle might be best for the likes of Sotheby’s or Bonham’s then an agent like Mark Littler LTD can offer advice and introductions to help you make an informed choice.
In fact, regardless of your bottle, as an independent broker Mark Littler LTD is positioned to offer advice and introductions to help decide where to sell your whisky. We aren’t tied to one particular route and our simple valuation system will put you in touch with auction houses and private buyers through one form.
Sell Your Whisky Today
Please use the form below to submit images of your bottle and receive a free, no-obligation valuation from a specialist auctioneer. We will also actively seek the highest offer from our network of private collectors to help you sell your whisky.
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