Group SE/LEGS purchase - A dram good offer

[duggiesmith]

After the recent LEGS meet at Glengoyne distillery (http://scottishelises.com/phpbb/viewtop ... =8&t=35728), my thoughts once again turned to the possibility of purchasing a cask.
I know from previous posts, there are a few whisky fans on here (what does that say about us?), so anyone interested in a group SE/LEGS cask?

The smallest barrel comes in at £1600 which will hold around 190 litres of pure spirit and includes 10 years maturation. This is where we need to start doing the maths.
During the maturation, around 2% will be lost each year (the angels' share) which would leave around 220 bottles of cask strength whisky (approx 60%) or 307 bottles at normal strenth (43%).
After the 10 years, you then need to pay for bottling (personalised labels available) and of course duty (£26.81 per litre of pure alcohol ) and VAT.
At current rates this bumps up the total to around £4,600.
At cask strength this will give you around 220 bottles at about £25 each. At normal strength it'll be around 307 bottles at around £19 each.

While I do like my whisky, even I'd struggle to get through that amount on my own
If we could get 10 or more people interested, then it looks a bit more sensible.
OK, it's not a massive saving over your run of the mill whisky, but you would come away with a couple of cases of personalised single cask malt - I'm sure someone could come up with an appropriate SE/LEGS design for the label.

At this stage, I'm just testing the water. If enough people are interested we'd need to consider the finer details eg What if someone wanted out after 5 years?

If anyone's interested, feel free to stick your name below (no commitment at all at this stage). The more the merrier - larger casks are also available.
Further info can be found here: http://www.glengoyne.com/cask-sales/a-dram-good-offer/

1. Duggie

[GregR]

Great idea - I've already got my name on a cask of Tullibardine which cost me a good deal less - just as well as bottling and duty are a real thorn in the side with these deals.

Best of luck, I my even have a bottle off you at the end of it all

[Scottish Scrutineer]

One of my mates has 'invested' in a cask syndicate. I'll check what they arranged, but I could be tempted. Glengoyne is quite pleasant to drink as well


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[Al.]

I'm no huge whisky drinker despite having the contact but certainly interested enough to consider being part of a syndicate depending on how many are up for it and cask size chosen etc. so keep me in the loop.

I do recommend anybody interested follows the links and then reads the PDF downloads at the bottom

Useless fact of the day. My mate who is a director and the Chief Company blender/nose who arranged everything came back with this: Did you realize that LEGS is an expression often used, as in “long legs” or “good legs”, when describing the amount of time a good whisky will take to run down the side of a glass after swirling as opposed to a thin whisky which will have “short legs”! So there you go. We have a link with Whisky as well even if the 'other' Forum.

1. Duggie
2. Al.

[duggiesmith]

Great idea - I've already got my name on a cask of Tullibardine which cost me a good deal less - just as well as bottling and duty are a real thorn in the side with these deals.

Best of luck, I my even have a bottle off you at the end of it all

I was at Tullibardine a couple of weeks ago (lovely 20yo btw) and was speaking to them about buying a cask. Unfortunately, they no longer offer them as they need all they produce for their own supplies. They were saying that they've contacted some existing cask owners and offered to buy them back (with an element of profit for the owner) to top up their own supplies, so maybe not such a bad investment. What do you intend to do with yours when it's matured - it's a lot to get through on your own?

I've contacted a few distilleries over the years and most that previously offered individual casks have now stopped . I think Glengoyne must be one of the last few remaining. If anyone knows of any others, please let me know.

[graeme]

http://www.whiskybroker.co.uk/index_fil ... ilable.htm

Not that I've been lusting after the Bunnahabhain '89 or anything...

[Al.]

Great idea - I've already got my name on a cask of Tullibardine which cost me a good deal less - just as well as bottling and duty are a real thorn in the side with these deals.

Best of luck, I my even have a bottle off you at the end of it all

I was at Tullibardine a couple of weeks ago (lovely 20yo btw) and was speaking to them about buying a cask. Unfortunately, they no longer offer them as they need all they produce for their own supplies. They were saying that they've contacted some existing cask owners and offered to buy them back (with an element of profit for the owner) to top up their own supplies, so maybe not such a bad investment. What do you intend to do with yours when it's matured - it's a lot to get through on your own?

I've contacted a few distilleries over the years and most that previously offered individual casks have now stopped . I think Glengoyne must be one of the last few remaining. If anyone knows of any others, please let me know.

Just to add to this as I was thanking my mate on the phone today. They have just decided at board level to dramatically cut back on the offer availability as it has become too successful and they now feel too many casks getting into private hands. Not even sure how long it will run for. Not to say I couldn't pull a favour however even if things do get tighter. Not promising anything. I also have a name of the best person to speak to if we are interested in progressing this.

Al.

[ed]

Would love to invest in something like this but not sure I'm patient enough!

[duggiesmith]

Thanks for the heads up Al.
To be honest, I'm not too surprised at this. Most distilleries which previously offered casks seem to have withdrawn this.
I've dropped them an email as I had a few other questions too, so watch this space (I'm still up for this, but could do with a few more names).

http://www.whiskybroker.co.uk/index_fil ... ilable.htm

Not that I've been lusting after the Bunnahabhain '89 or anything...

I've checked these guys out before and it is another option. It cuts out the 10 year wait, although it generally works out slightly more expensive per bottle (depending on what distillery/age you go for (your Bunnahabhain hogshead would set you back about £9k after duty and bottling = £27 per bottle), however they do have a 2005 Dalmore barrel for £1600 = about £5.5k after duty and bottling or £20 per bottle )

[duggiesmith]

OK a bit of an update on this.
I've been in touch with Glengoyne with a few questions.

Firstly, they confirmed casks are still available for private purchase. The Spring offering was last week and their next is planned for 13th Nov (they expect their books to close around mid-July for anyone wishing to fill casks in November).
Secondly, although there would be 1 person named as point of contact, all syndicate members would be welcome at the distillery and would also receive a discount in the shop.

As far as labeliing is concerned, the sky's the limit (as long as it's legal and complies with regulations - that rules out some of my ideas ).

After bottling, the cask would also be ours to keep - could make some nice furniture, planters or could be cut into sections to keep with your bottles as a souvenir (and to fill your room with lovely whisky aromas).

Realistically, I think we would need a few more people interested, so if anyone else likes the sound of this, just add your name - should make an ideal present for anyone with kids who might be turning 18 or 21 in 10 years time, or for those maybe hitting a milestone in 10 years (any 30 or 40 year olds out there).