Be very careful if you are thinking about buying whisky casks as an investment.
In the 1990's there was a massive cask whisky investment fraud. I was able to recover over £5 million for investors who paid by credit card by proving misrepresentation under section 75 of the then Consumer Credit Act 1974.
30 years later it's all happening again. Too many firms are now setting up as Whisky Investment Specialists advising fabulous returns from investing in casks of whisky often selling new fill casks from new distilleries which have no provenance, no naming rights and no pedigree whatsoever.
If you wish to invest in casks of whisky only buy direct from well known distilleries such as Macallan, Springbank, Highland Park and Talisker etc. The problem is you probably need to know someone in the distillery to do this since normally these Premier League distilleries don't sell casks direct to private investors.
Remember if you still wish to buy casks always pay by credit card not debit card so in the future you may have the chance to get your money back when the whisky investment market collapses again as it did in the late 1990's.
Paul Smith
mwbh@talk21.com
15th November 2024