Why are Japanese whisky prices constantly rising?
Although Japanese whisky has a relatively short history of distillation, it has become one of the most popular whisky-producing regions in the world in recent years. Compared to countries like the US and Canada, Japan's whisky distilling history is not particularly long, yet it has demonstrated a very high level of craftsmanship, even catching up with Scotch whisky in international renown.
Since 2003, Japanese whiskies have won numerous international awards, with award-winning bottles from brands such as Karuizawa, Yoichi, Taketsuru, Yamazaki, Hakushu, and Hibiki. For example, Karuizawa won the "Malt Maniacs" award twice in 2007 and 2008. Yamazaki 25 Year Old was named "World's Best Whisky" in 2015 by Whisky Bible, a specialist whisky book. Hibiki whisky set a record as the only brand to win the top prize at the ISC International Spirits Challenge for three consecutive years, and Yoichi won "World's Best Single Malt Whisky" in 2007 and 2008, among others.
Such achievements are hard to ignore. Naturally, Japanese whisky has attracted worldwide attention, including "Karuizawa," a distillery that has since closed; Suntory's brands: Yamazaki, Hakushu, and Hibiki; and Nikka's core brands Yoichi and Miyagikyo have become new darlings of the whisky industry.
Good quality and international recognition are the foundations for rising whisky prices. In fact, Japanese whisky prices did see decent growth between 2007 and 2017. However, this alone was not enough to cause exponential price surges. In recent months, the primary reason for the sharp increase in Japanese whisky prices has been the topic of "discontinuation." As soon as this news broke, it immediately sparked speculation among whisky enthusiasts. For a period, places where Japanese whisky could be sold were completely cleared out, with even international stores being swamped. The prices of several well-known Japanese whiskies instantly skyrocketed multiple times, and this frenzied craze lasted for several months before subsiding. Currently, prices have seen some correction, and volatility has relatively stabilized, though future developments remain worth watching.
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When determining the buyback price, factors such as the rarity of the edition, liquid level, seal, label, and outer box condition all need to be considered.
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