Scotch whisky, 150 years old, fetches £14,750

In Hungary

A half-sized bottle of Scotch whisky that's about 150 years old sold for £14,750 (€21,865) at auction in London, beating the top presale estimate by almost 50%.

The Glenavon Special Liqueur Whisky, bottled on Speyside, in northeast Scotland, some time between 1851 and 1858, was bought by an unidentified buyer at the auction yesterday. The bottle contains 14 fluid ounces and the whisky may be the world's oldest, according to Bonhams, the auctioneers. “There is an increasing interest in whiskies that are a bit different,” Richard Harvey, head of European wine sales at Bonhams, said in an interview. “I think it's a record for that size.” Bonhams had estimated a sale price of as much as 10,000 pounds for the half-sized bottle. The prices collectors are willing to pay for Scotch malt whisky have risen. An anonymous Asian buyer in September 2005 paid 70 million South Korean won ($75,200) for the last bottle of 1926 Macallan malt whisky, a record for a public auction.

A bottle of 60-year-old Macallan fetched 20,150 pounds in 2002. The winning bidder was represented by telephone from Scotland, said Harvey. The bidder whose offer was beaten came from the US, he said. The Glenavon whisky may date back to before 1851 because there are no records of the distillery before then, Harvey said. The bottle was sold by a Northern Ireland woman whose family owned it for at least three generations, he said. The Glenavon distillery was licensed in 1852 to John G. Smith, son of the founder of the nearby Glenlivet Distillery. In 1859, they consolidated their distilleries at Glenlivet, which is now owned by Pernod-Ricard SA's Chivas Brothers unit. The price included a 10% so-called buyer's premium, which is the fee payable by the buyer to Bonhams. (Bloomberg)


Business Sentiment Up, Consumer Confidence Down in September Analysis

Business Sentiment Up, Consumer Confidence Down in September

Horthy Statue to be Unveiled in Parliament Parliament

Horthy Statue to be Unveiled in Parliament

UPS Appoints Regional Director Appointments

UPS Appoints Regional Director

Completion of Metro Line M3 Renovation Delayed City

Completion of Metro Line M3 Renovation Delayed


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.