The Macallan Gran Reserva 18 Year Old series is an instantly recognisable classic from Macallan. The series ran from 1997 to 2002, with vintage statements of 1979, 1980, 1981, and 1982. The series was created to showcase the heavily sherried whiskies that Macallan has become famous for, being one of the only Scottish distilleries to insist on using the increasingly more expensive sherry casks to mature whisky.
Despite running parallel to Macallan’s regular 18 year olds, the Gran Reserva bottlings usually achieve higher prices at auction. This is due to their decadent presentation and deep colour thanks to the sherry casks. But, just how well have Gran Reserva bottles performed at auction historically? And, are they still a sound investment?
How Have Macallan Gran Reserva Bottles Performed At Auction?
The above graph shows the median price of each Macallan Gran Reserva vintage at auction. Auction records for these bottles date back to 2006. As you can see, all of the vintages follow the same trend, with value slowly rising from 2006 until the present day. You may notice a small spike in prices in 2018. This is due to massive investment in Macallan by owners, Edrington, in that year. 2018 saw the construction of a new distillery and visitor’s centre that cost £140 million to build. This investment by Edrington pushed Macallan prices up as consumers and collectors increasingly began to recognise Macallan as a super-premium brand.
Prices fell slightly in 2019, but as of January 2021, they are beginning to rise again. There is not much of a fluctuation in value for these bottles, making the price on the secondary market fairly stable.
With that being said, there are always minor fluctuations in price from bottle to bottle. So, what affects the value of the Macallan Gran Reserva series at auction?
What Affects The Price of The Macallan Gran Reserva Series At Auction?
One of the factors that can affect the value of the Macallan Gran Reserva series at auction is the condition of the box. The Macallan Gran Reserva bottles come with a hinged wooden box. Inside the box, on the back of the lid, is a label that displays details of the series. The box is filled with shredded material that cushions the bottle and protects it from damage.
The box for your Gran Reserva should be in pristine condition, as any scuffs or missing panels will affect what collectors are willing to pay. The absence of a box could knock hundreds of pounds off the value of your bottle.
Another factor that affects the value of your bottle is the condition of the label. The label should have no tears, peeling, or sun damage to it. To protect your bottle from this you should store it out of direct sunlight.
The level of the whisky in the neck of the bottle is also an important factor. Ideally, the whisky should sit in the wide part of the neck of the bottle. Any lower and the value of the bottle will begin to drop. This is because a low level suggests that the bottle capsule has been compromised and that evaporation has occurred. To stop this you should keep your bottle in a cool but humid place. You can also buy something called parafilm to wrap around the bottle capsule and keep the bottle watertight.
The above factors are important to keep in mind when thinking of selling or purchasing a bottle of Macallan Gran Reserva, and are useful in interpreting the graph. Factors such as these can affect the value of individual bottles. However, the trend in the price of the Gran Reserva bottles remains the same.
Should You Invest In The Macallan Gran Reserva Series?
The Macallan Gran Reserva series is a very stable collection in terms of price. You can see from the above graph that there is not much of a difference in value between each of the vintages, which is rare for a collection like this. As such, the stability of the series suggests that this is still a good collection to invest in.
The Macallan Gran Reserva series also has the pedigree of old Macallan bottles, as they were distilled and bottled before Macallan had repositioned itself as a super-premium brand. This means that many bottles were drunk before their value went up. As such, the bottles are rare, and now command a premium.
So, the Macallan Gran Reserva series, in our opinion, is still a sound investment if you can afford the £3,000 needed to buy a single bottle.
Another thing that you must be willing to invest is time. As it has taken 15 years for the Macallan Gran Reserva bottles to increase in price from £200 to £3,000, it is likely that you would have to keep your bottle for a long time in order to see a decent return on your investment.
If you have a bottle of Macallan Gran Reserva that you would like valuing, or if you have any questions about investing in Macallan Gran Reserva, please get in touch at [email protected], or use the free valuation form below.
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