Past and Present
What Are The Costs Involved in Cask Ownership?
Wednesday 21 December 2022|
Owning your very own whisky cask is the ultimate dream for many whisky enthusiasts and lovers. It is a once in a lifetime opportunity to have a personal cask that has meaning for you, and can also provide you with superb returns as a strong alternative asset. At the same time, if you are considering owning a whisky cask as a private client, it is still important to remember some of the different costs involved in the process.
Below, the Auction Your Cask team has written a short, helpful guide to the costs associated with cask ownership, with the aim of providing you with greater clarity before you make any decisions. Read on to learn more, and if you would like to discover our live whisky auctions, then please head to our website today.
Costs of the Whisky
Whilst this may seem incredibly obvious to mention, it’s still worth mentioning. The main cost associated with owning a cask is the initial money that you spend buying the cask. When you buy a cask through one of our cask whisky auctions, you will be spending your own money and there are lots of different price points available.
Some whisky casks are priced at around £1,500 and above, whilst others are priced higher in the £100,000’s range. It is imperative that you consider your budget and your tastes; you want to find a cask that you can afford to buy, represents a good asset, and is also desirable to enjoy and taste too.
Costs of the Storage
Storage costs of cask ownership are really very low. In fact, when you come to Auction Your Cask and buy a mature whisky cask, you can expect storage costs between 20 and 30 pence a week, although this is dependent on the specific warehouse. However, the storage costs are generally low, so you don’t have to worry about this.
Insurance and Transport
Two other costs that are worth mentioning are insurance and transport. You can, as a new owner, get insurance for your individual cask. Warehouses can insure against fire and theft, and we can also introduce you to insurance companies too; this will increase your costs, but it’s worth it for peace of mind. Similarly, you might have to pay for transport of casks between warehouses if you’re moving your cask. Typically, this is around £100 to £200 depending on the distance travelled.
Interested in Cask Ownership?
Now that you know a little bit more about some of the costs associated with cask ownership, if you would like to enquire about this alternative asset, then please contact Auction Your Cask today. You can reach us on +44 (0)203 746 3030 or email us at email@example.com and we’ll get back to you as quickly as possible. There are so many reasons why cask ownership is an attractive option; none better than the excellent returns you can receive from this alternative asset.
In the short, medium and long-term, you can achieve great returns from whisky cask ownership. What’s more, it’s a unique and rare opportunity to own something that is unlike anything else out there on the marketplace. Furthermore, it’s a safe and secure asset too as it’ll be stored in government bonded warehouses, and it’s unable to be faked or fabricated either. To find out more about our cask ownership options, head over to the Auction Your Cask website today.