Slàinte Mhath
With the number of fake aged whiskies sneaking into the market, it’s important to do your research before you invest
Euan Duguid explores the rising prevalence of fake rare whiskies flooding the market
THERE’S a motivational-type podcast I stumbled upon recently, which featured American military tough nut, Admiral William H. Mcraven.
He describes a final phase of Navy Seal training; an arduous night-time swim in the ocean off San Clemente, California.
Physical demands notwithstanding, the stretch of water is mentally terrifying – being infested and stalked by various species of deadly sharks most evenings.
“If a shark, hungry for a snack, comes towards you… summon up all your strength and punch him in the snout,” implores the bold Mcraven.
The recruits are told, if they are circled, “at all costs stand your ground – do not swim away”.
Fortunately, not many of us will need to employ this gem of worldly wisdom in a literal sense.
The general analogy is not lost, though, and rings true for many parts of life – particularly in investing in whisky.
The notion that big money malt is the exclusive preserve of oligarchs or industry magnates no longer holds true. I know various folk working a nine-to-five job who invest their savings in rare whisky in the same way they’d have previously invested in a buy-to-let property or stocks and shares.
But as more people take to the enticing market – the more sharks are attracted.
Sales of collectable bottles of single malt Scotch whiskies reached a total of £57.7 million in 2018. Researchers at Scottish Universities Environmental Research Centre (SUERC) of Glasgow University estimate that as many as 40% of all rare vintage whiskies in circulation could be fake. Now, what could be described as the whisky investor’s equivalent of landing a haymaker on a shark’s snout, has just been unveiled by the university.
SUREC is one of the longest-established and largest radiocarbon dating laboratories in the world, and does everything from testing archaeological samples to analysing skeletal remains for the police to verifying whiskies and other spirits,
SUERC, working with innovation company Everledger, has developed a way to accurately determine when whiskies were distilled using radiocarbon dating. Their finely graded system can pinpoint the age of old whiskies to within a couple of years – and quickly detect fakes.
Gordon Cook, head of the SUERC, said, “This method for identifying fake malt whisky samples extends from the removal of small samples through the cork, to alcohol distillation, high precision analysis and interpretation of the radiocarbon data.”
Radiocarbon dating can be expensive, yet the science will undoubtedly act as a good way of preventing a ruinous bite being taken out of your savings.
So, are there any specific examples of when to make that upfront outlay?
Whisky investment guru David Robertson, of Rare Whisky 101, says that any buyer of a pre-1900/turn of the century distilled whisky, bottled and labelled as such, should be very cautious and it’s always wise to invest in analysis before buying.
“During our own investigation on fakes, we acquired a bottle of 1903 Laphroaig and undertook a series of investigations to prove its authenticity,” David says. “We assessed the glass, the label, the capsule, the cork and ultimately the liquid and have proven, beyond any reasonable doubt it was not the genuine article.”
For investors looking to dip their toe in the waters with more mainstream investment, David has some advice.
“We are observing an increasing number of fakes across all value segments. So, do your research thoroughly. If the intent is to spend a large amount on a bottle, make sure it looks like it should. A quick online search usually throws up many images of genuine bottles. Is the bottle shape the same? Is the liquid the same colour? Is the packaging or box the same?
“It sounds basic, but it is surprising how many people have been caught out when closer inspection would have clearly revealed inconsistencies.”
And, perhaps contrary to Admiral Mcraven’s advice of standing one’s ground in the art of shark attack dissuasion, David has a clear self-help rule.
“If in doubt, do not be averse to simply walking away.”
It’s not just Scotch that’s in the criminals’ cross hairs. Japanese whisky is targeted too with fake bottles of the now legendary – and exceptionally expensive – Hanyu Cards series in circulation.
With recent increases in values being so rapid, there’s little doubt more fake high-end Japanese bottles will enter the market. Caveat emptor!
“We fakes” are seeing an increasing number of