Frequently Asked Questions About Whisky Collecting
There are no guarantees when it comes to how the value of your whisky will change over time. However, whisky does generally increase in value as it matures, which is why it has become such a popular collector’s item.
There are various factors to consider when deciding which whiskies to add to your collection, including age, distillery, blend, availability, edition, reviews, price, demand, and much more. Our in-house whisky experts can help you to find the ideal casks to match your objectives.
Yes. As a whisky collector, you’ll be the owner of a tangible asset. For many people, this is one of the things that makes the whisky market such an enjoyable way to collect commodities.
Upon receipt of cleared funds into our client account and confirmation of your purchase, we will transfer the ownership of your whisky within 30 days.
Client funds are held independently in a Client Account via an FCA-regulated escrow service and are only released upon confirmation of your whisky being ready for transfer.
Storage is extremely important, both in terms of preserving the quality of your asset and keeping it secure. Once purchased, your whisky will be stored within your personal account in a controlled environment at one of the UK’s leading HMRC Government regulated independent bonded warehouses.
As the owner of the asset, you are liable for storage charges. These are issued by the bonded warehouse that is storing your whisky and fees are usually paid 12 months in advance via Direct Debit.
Storing your whisky at your own premises is not typically recommended. Keeping your whisky at an HMRC Government regulated independent bonded warehouse is advisable at it maintains the provenance of the asset and can, therefore, enhance its value. Additionally, storing your whisky in a bonded warehouse will ensure it remains in a controlled environment and, therefore, in optimal condition.
Remember – there are tax benefits associated with storing your whisky at an HMRC-regulated bonded warehouse, so consider this carefully before you decide to remove it.
Absolutely. Insurance helps to protect your investment. The bonded warehouse storing your assets will either provide insurance cover as part of their storage charge or you will be offered cover via an independent insurance company that specialises in whisky insurance.
In the unlikely event that your whisky is damaged or lost, your insurance cover will enable you to access a replacement or equivalent value.
Once ownership is transferred, you are the legal owner of your whisky, and your storage contract is between you and the relevant bonded warehouse. As a result, UKV International AG have no control or access to your whisky.
If you decide to resell your whisky, our Brokerage Service will be happy to assist you. However, you are free to use any broker or merchant you choose when reselling your whisky.
If you choose to, you can remove your whisky from the bonded warehouse and consume it. Bottling and/or delivery arrangements will be agreed upon by you and the warehouse storing your whisky. It’s important to be aware, however, that you will become liable for Import Tax and VAT when the whisky is taken out of an HMRC-regulated bonded warehouse and bottling fees may also apply.