Noble & Co

This year’s Whisky Intelligence report uncovers a 16% drop in global secondary whisky sales, with the average auction price per bottle dropping from £370 to £363. The whisky market is now in decline, with no sign of an upturn yet. Read the whole report here: https://lnkd.in/e4dj6pjx

2024 Fine & Rare Whisky Market Review: A Year of Challenges The fine and rare whisky auction market has faced significant headwinds in 2024, with macroeconomic pressures, high inflation, and cautious consumer spending reshaping the landscape. Here are the key insights from our latest Noble & Co Whisky Intelligence Report: Market Trends: Volume transacted in our dataset was down by 16% over the twelve months and value transacted was down by 18% over the same period, mirroring struggles seen in other luxury assets. In the period up to the end of September 2024 the data has not shown a slowing rate of decline. Lower-priced bottles (<£1,000) proved relatively more resilient as buyers traded down, while the premium segment (>£10,000) saw sharper declines as sellers held back bottles and buyers exercised caution. However, almost every part of the market declined. We interviewed industry experts Jonny Fowle and Isabel Graham-Yooll for their insights. At a brand level, we saw declines across almost every brand by total value transacted. The most popular brands in the secondary market remain The Macallan, #Springbank and #Bowmore. Regionally, Speyside dominates the market with 59% of total value transacted but experienced a 27% drop in volume. Islay and Campbeltown remain popular but also fell. Read the full report for a deeper dive into these insights, performance by price point and a look at the league tables for brands. https://lnkd.in/e_3ASNh3 Our thanks to Sotheby's Bonhams The Macallan Aste Bolaffi Christie's Scotch Whisky Auctions Ltd Prestige Whisky Auction Ltd Speyside Whisky Auctions Limited Glenkeir Whiskies Ltd Whisky.Auction Thought Collective #WhiskyMarket #FineAndRareWhisky #Secondarymarket #Auctions #MarketTrends

We’re pleased to announce the release of our eighth Noble & Co Whisky Intelligence Report, developed in partnership with Brainnwave. This quarterly update provides a comprehensive analysis of the fine and rare whisky auction market. Our takeaways: - Auction Market Challenges: Total value and volumes fell by 50% over the period versus the same period last year, with declines across all price segments. - Shifting Buyer Behaviour: Bottles auctioned for under £1,000 now account for 51% of total value transacted, up from 43% last year. - Savvy Collectors: Bottles over 50 years old saw a significant increase in the volumes remaining unsold, reflecting collector caution and signs of them holding on until better times return. - Price Drops: Average bottle prices fell 19% year-on-year, with volume declines driving down market values. A large part of this is due to the shift to higher volumes at lower prices. - Market Resilience: Despite the downturn, Glenfarclas and Port Ellen showed positive growth, while The Macallan retained its dominant brand market share, albeit with a 34% decline in absolute value transacted. As we look ahead, we’re closely monitoring the macroeconomic environment to gauge the potential for market recovery. For a full breakdown of these trends, download the report. 🔗https://lnkd.in/eBTmR3ew Our thanks to those that supported the publication of this report: The Macallan Scotch Whisky Auctions Ltd Sotheby's Bonhams Aste Bolaffi MALTDAQ Just Whisky Auctions Speyside Whisky Auctions Limited Prestige Whisky Auction Ltd Whisky.Auction Glenkeir Whiskies Ltd Thought Collective Martha Moger #WhiskyMarket #AuctionTrends #WhiskyIntelligenceReport #WhiskyCollecting #NobleAndCo #Brainnwave #FineAndRareWhisky

We are delighted to have advised Ascensos on its sale to Firstsource. Our congratulations to Dermot Jenkinson John Devlin Martin Shand and Oliver Jenkinson on completion of the transaction and finding an excellent partner for the next step of the Ascensos journey. #M&A #Advisory #Scotland #CrossBorder

We are delighted to have advised The Borders Distillery as it secured this funding from Ferovinum.

We are delighted to publish our sixth Noble & Co Whisky Intelligence Report, in partnership with decision intelligence firm Brainnwave. In the report we review the performance of the fine and rare whisky at auction market. The key highlights are: - Volumes at auction are in decline, down by 11% in Q4 2023 vs Q4 2022 - This is mostly being seen in lower-priced bottles, with volumes of bottles selling for £100-£1,000 down by 11.4% and £1,000 to £10,000 down by 9.4% - Average prices are rising but this is predominantly a mix shift due to the weakness at the lower-priced end of the market - Volume declines worsened through December and January, even accounting for seasonality. Bottles selling between £100 and £200 were down by 20% in December 2023 vs December 2022, and 21% in January 2024 vs January 2023 - Most of the major brands have seen significant brand declines. The Macallan noted a very strong value in the quarter due to the sale of The Macallan Valerio Adami bottle - Our data shows that bottles that are “unsold” at auction are not increasing significantly in number overall. This implies sellers are being more careful in putting bottles to auction in a more fragile market - Overall, it is clear that the macro-economic climate is weighing on the auction market. If 2024 is a year of economic recovery, this may feed through to the auction market. - We now have 905,025 bottle sales in our dataset and over 20 million datapoints The full report can be downloaded for free here https://lnkd.in/e4dj6pjx Our thanks to all of those that partnered and assisted on the creation of this report. Our thanks to The Macallan; Sotheby's; Bonhams; Aste Bolaffi; Speyside Whisky Auctions Limited; Prestige Whisky Auction Ltd; Scotch Whisky Auctions Ltd; MALTDAQ; Volpe & Castello Limited; Just Whisky Auctions; Whisky.Auction; The Whisky Shop (Glenkeir Whiskies Ltd); Thought Collective; Martha Moger #Scotchwhisky #auctions #fineandrare #bottles #analysis

Rutherford Cross is delighted to be partnered with Noble & Co to bring in an Associate to join its execution team. Noble & Co is a Scottish based, corporate advisory boutique that has the geographic reach and range of products of a major international firm as well as offering its clients the personal and deep understanding of a boutique. An award-winning Scottish financial advisory firm, Noble & Co provides corporate finance advisory services across all industries. The Associate will be a critical member of the team, supporting the origination and execution of transactions in a broad range of industry sectors. If you would like to find out more about this unique opportunity, please do not hesitate to get in touch with Fraser Burnett 📧 [email protected] 📱07557020722

We are also hiring for an Analyst to join our team. A key member of the execution team, you would work on multiple transactions across our focus sectors of Food & Drink, Financial Services, Natural Capital and Energy & Renewables, amongst others. If you are interested, contact Duncan McFadzean

We are delighted to be hiring for an Associate. This is an important role in our firm and will offer excellent exposure to clients and transactions.