Those investing in whisky are more likely to be satisfied than those investing in wine or watches.
The recent news that Rare Whisky 101 had fearlessly uncovered a fake Laphroaig certainly generated a lot of publicity. It deserved to. We need to know these things.
It is also a sign of the health of the rare and collectable market. As soon as forgers sniff a quick profit, they will act. So I’m pleased that they have brought this to people’s attention. I am surprised, however, that they appear to suggest that this problem is new and that they were the first to properly investigate it.
Fake whiskies started to appear in volume at auctions in the 1990s but, apart from a flurry of media attention in 2004, the issue has been quietly forgotten as the whisky world moved on to far more pressing topics, such as NAS and sulphur.
Only by understanding how long fakes have been commonplace (and, though it seems strange, tolerated) do we get a proper perspective as to the scale of the problem.
Initially it seemed as if the arrival of large volumes of rare whiskies in the ’90s were simply a consequence of whisky auctions gathering pace and prices rising accordingly. What was bewildering was the number of pristine bottles appearing, purporting to come from the 19th or early 20th centuries. Neither was it the odd bottle, but multiples of the same whisky, with labels in the same, excellent, condition.
Some hailed from established distilleries – Macallan, Bowmore, Laphroaig, etc – but many were from distilleries whose wares had never been seen. Most appeared to have originated in Italy. As one source said to me in 2001: ‘It was almost too good to be true. I had one person saying: “I can get anything you want.”’
Not quite right: The bottle at the centre of the latest fake whisky scandal
As well as seeding their wares into the auction market, the fakers also began approaching distillers directly. Those firms with archivists (Diageo, Chivas, Allied (since bought by Chivas)) rejected what was being offered. (This, incidentally, shows that firms who do take the time and effort to preserve, respect and cherish their past are less likely to be caught out.)
Others were more gung-ho. You can, perhaps, understand why. The market for old whisky is rising. You are building a reputation at this high end and now there is a seemingly endless stream of old whiskies which will only add to the glory of your back-story – or at least that’s what the nice Italian gentleman is telling you when you meet him in a hotel in Elgin.
It’s entirely possible, because no-one seemed interested in old whisky until recently, that an old lady in Bologna would simply keep hold of her huge stash of 19th-century booze.
Macallan, while far from being the only distiller to be duped, drank the most deeply from this pool, even ‘replicating’ some of their purchases. It was only when liquid from an alleged 19th-century bottle was ceremoniously syringed out to try at the first replica product launch that people’s fears were confirmed. It was obvious to most of us in the room that this was not an old whisky.
The experts, however, were often ignored – even vilified. Some collectors bought bottles, knowing they were fakes. ‘After all,’ I was told at the time, ‘even a fake van Gogh is worth a lot of money!’ As a result, more fakes appeared.
In 2003, Macallan bowed to pressure and had a selection of its purchases carbon-dated at the same Oxford laboratory used by Rare Whisky 101. All of the bottles were shown to be fakes.
While they had been duped, at least there was now a clear methodology to test for potential fakes: check the label for inaccuracies, examine the glass, use archives, test the liquid – either at Tatlock & Thomson, or send it to Oxford.
Trail-blazers?: Andy Simpson and David Robertson, directors of Rare Whisky 101
My question is: if this system has been in place for 13 years, why is Rare Whisky 101 making out as if it is the first firm to expose this? It wasn’t. Maybe David Robertson – who was at Macallan at the time when the fakes were being purchased – has had a bad attack of amnesia?
Surely a firm which sets itself up as the expert on rare and ‘investment-grade’ whisky ought to have placed fakes front and centre of its advice to potential clients – especially given the personal experience of one of its directors?
I hope, now that the extent of the problem has, again, been flagged up, that collectors, investment firms, and auction houses – who have regularly employed a Pontius Pilate-esque defence when they have been found to have sold a fake – pay attention to the scale of the problem.
If the rare market continues to be run on nothing more than blind trust, naivety and avarice, you can guarantee that another wave of fakes will appear. Chancers beget chancers.
If the provenance of the bottle cannot be proved, if there are no historical records, then avoid. In 2004, Iain Russell, now archivist at Glenmorangie and who has been assiduous in his monitoring of the fakes market, said: ‘My advice is “caveat emptor”.’ How depressing that, 14 years later, the same phrase is being used once again.
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The debate 13 April 2016
Could it ever happen? After all, the momentum of the mighty malts continues to grow by the year…
From the editors 16 March 2016
Whisky has become a commodity to be traded and make a few speculators some money.
Latest news 28 February 2017
A large-scale fake whisky operation has been uncovered following a tip-off from an auction website.
Latest news 09 December 2016
Trove of counterfeit Laphroaig and Macallan could be worth nearly £1m, experts say.