Rare whisky made its debut in the Knight Frank Luxury Investment Index (KFLII) and emerged as the top-performing collectible in 2018, with values rising 40% according to The Wealth Report 2019. A 60-year-old bottle of The Macallan 1926 fetched $1.5 million (Ksh150 million), equivalent to the cost of a Eurocopter EC120 Colibri Hummingbird.
The Knight Frank Rare Whisky 100 Index revealed that rare whisky outpaced coins (12%) and art/wine (9%) in 2018. Over a decade, whisky values climbed 582%, outperforming classic cars (258%), coins (193%), stamps (189%), and art (158%).
David Hockney’s ‘Portrait of an Artist’ became the most expensive work by a living artist in 2018, selling for $90 million. Andrew Shirley, editor of The Wealth Report, noted that wealthy collectors continue to pay premium prices for rare items, with whisky enthusiasts investing six- or seven-figure sums for casks.
Diageo’s Casks of Distinction program allows select clients to invest in rare whisky casks, while East African Breweries Limited targets collectors through mentorship initiatives. Tod Bradbury of Diageo highlighted growing interest in closed distilleries and classic brands like Talisker and Lagavulin.
The Wealth Report 2019 found that 3% of Kenya’s high-net-worth individuals allocated assets to luxury investments in 2018. A survey showed 14% of clients increased luxury investments that year, with 18% planning to do so in 2019. Kenya’s dollar millionaire population rose to 9,482 in 2018, projected to reach 11,584 by 2023.
Dollar millionaire population increased by 306 individuals to reach 9,482 in 2018
Collecting preferences in Kenya include cars (50%), jewellery (45%), art (35%), watches (25%), and whisky (15%). Nearly a third of wealthy individuals had not yet invested in collectables as of 2018.
