The Macallan Diamond Jubilee was released in 2012 to mark Queen Elizabeth II’s 60-year reign and featured a number of homages to Her Majesty, including being filled at 52% ABV as a reference to the year of Elizabeth II’s accession to the throne in 1952, and the whisky was drawn from its cask on February 8th, the date on which the Queen proclaimed her own accession 68 years ago. The whisky was matured in a sherry cask in typical Macallan fashion and was an instant classic when it hit the market in 2012.
Subsequent to the Diamond Jubilee Celebrations in 2012, Macallan Diamond Jubilee bottles began to appear at auction in September 2012 for around £500. But how have the bottles fared at auction since then? And are they still a good investment?
How Has The Macallan Diamond Jubilee Performed At Auction?
The above graph shows the performance of the Macallan Diamond Jubilee at auction since its first appearance in 2012. The vertical axis shows the median price paid for a Macallan Diamond Jubilee, and the horizontal axis shows the months and years since September 2012, when the bottles first appeared at auction. There is also a line of best fit that shows the trend in the value of the Macallan Diamon Jubilee.
As you can see, the value of the Diamond Jubilee bottles rose fairly steadily from 2012 to 2017 until there was a relative jump in price in 2018. In 2019 the value began to level out once more, and today the Macallan Diamond Jubilees are worth around £3,500 – £4,000.
This particular bottling has unique collectibility due to the fact that it is a celebration bottling. However, there are still fluctuations in price from one auction or bottle to the next. So, what can affect the price of The Macallan Diamond Jubilee at auction?
What Affects The Price of The Macallan Diamond Jubilee At Auction?
The price that a bottle can fetch at auction depends on a multitude of factors. Collectors can be quite specific about the requirements for their bottles, and will often put in a much lower bid if a bottle does not meet their exacting standards.
One such factor is whether or not the Diamond Jubilee bottling comes with an accompanying box. The Macallan Diamond Jubilee comes with an ornate, hinged purple box that is lined with satin. These boxes have become something of a collectible item themselves, and so the presence or absence of a box can make a vast difference to the price that collectors are willing to pay. The condition of the box is also important – a box in pristine condition will be more valuable to collectors than one that is damaged.
Another factor that can affect the prices that bottles can achieve at auction is the condition of the label. If the label is torn, crumpled, peeling away, or sun or smoke damaged then this can affect what collectors will pay, as they know that if they hold out for another auction they may be able to buy a bottle in better condition.
Something else that affects the price of the Macallan Diamond Jubilee is the condition of the framed cameo of the Queen that adorns the front of the bottle. This is a stand-out feature of the bottle, and so the value of the bottle will drop if the ornate picture is damaged in any way.
The level of the whisky in the neck of the bottle is also a factor that collectors look out for when deciding which bottle to bid on. Ideally, the level should sit in the wide part of the neck of the bottle. Any lower and the price will begin to drop accordingly. The level in the neck of the bottle can be affected by how the bottle is stored. For example, if the bottle is stored in direct sunlight, in a low-humidity environment, or lying down on its side then some of the liquid will be lost.
With these factors in mind, it is easier to understand the fluctuations in price from month to month and bottle to bottle. But, what about the large appreciation in value in 2018?
Macallan’s Brand Growth: The New Distillery & A Record-Breaking Bottle
If you have read our blog on the Macallan Anniversary Malts, then you will know that they too experience a price jump in 2018. This is due to investment into the Macallan brand by Edrington , Macallan’s owner. This investment resulted in a brand new, £140 million subterranean distillery located on the Easter Elchies estate. This new distillery has 15 more stills than the previous site, signifying Macallan’s confidence in its single malts. The new stills nearly doubled the capacity of the distillery, allowing Macallan to keep up with increasing demand for their single malts.
In 2019, a bottle of Macallan broke the world record for the most expensive bottle of whisky ever sold when a bottle of Macallan 1926 was sold for £1.5 million.
This recognition of Macallan’s status as a luxury brand drove prices up even more. The value of the Macallan Diamond Jubilee may be leveling out, but it is doing this at a much higher price point.
Should You Invest In The Macallan Diamond Jubilee?
The Macallan Diamond Jubilee is a unique bottle, not only because of the event which it celebrates, but because it is a fairly modern Macallan bottle that has not only held its value, but is increasing in value.
When Macallan release new bottles it is usually the case that the auction value of said bottles spike fairly soon after release, as collectors who were not lucky enough to win one of Macallan’s ballots flock to auction in the hope of buying a bottle. Demand is high and supply is low, and this drives the prices up.
Soon after, however, the richest and most enthusiastic collectors buy the bottles, and the pool of collectors becomes smaller. This drives the price down, and those who are looking to sell do not do so because of the drop in price. Therefore, the price of the bottles subsequently levels out.
So, what is different about the Macallan Diamond Jubilee?
The Macallan Diamond Jubilee has unique collectibility because of the event that the bottle was made to celebrate. Elizabeth II will only ever have one diamond jubilee, and so there will only ever be one Macallan Diamond Jubilee release. The bottles were also very limited edition – only 2012 were ever produced.
The bottle has an air of luxury about it that stems not only from the fact that it is Macallan whisky but also from the fact that the bottle celebrates a very important milestone for the United Kingdom and its monarch.
As such, the Macallan Diamond Jubilee is unlikely to fall in value, and so could be a safe investment if you are willing to wait a few years to see a return.
The Collector’s Collection
If you would like to own a bottle of Macallan Diamond Jubilee, then why not buy two in conjunction with the best collection of whisky currently available at retail. We are selling a Collector’s Collection of whisky that includes stunning Macallan bottles such as two Diamond Jubilees, and a Macallan Royal Marriage 2011.
Should you find yourself curious about this luxurious collection we have written a blog that goes into detail about every bottle in the collection.
We have completed a number of different analyses of the performance of certain bottles at auction. This includes The Macallan Anniversary Malts, The Macallan Edition Series, and The Macallan Handwritten Labels.
An Interesting Fact…
Most websites that list the Diamond Jubilee for sale say that the whisky in the bottle was drawn from the cask on the 8th Februrary – the anniversary of Elizabeth II’s accession. But, King George VI died on February 6th 1952. So, what is the cause of this dating discrepancy? Click here to find out.