- 14 Mar 2002
- 21,057
- 18,913
The whisky bubble has burst:
Prices of Japanese whisky in the secondary market have decreased recently, deflating what some analysts had described as a bubble influenced by global economic trends, especially China's economic slowdown. "Premium domestic whiskies have dropped by 15% to almost 20% from their peak," said Jun Mochinushi, an appraiser at BuySell Technologies, a company specializing in branded goods. Mochinushi pointed out that while prices rose in the first half of 2024, they began declining around June or July.
Suntory's Yamazaki 25 whisky (photo credit: Iwasawa Akinobu)
Prestigious international awards had drawn Chinese attention to Japanese whisky, contributing to rising prices. Producer price increases may have intensified the trend. In April, Suntory Holdings more than doubled the recommended retail prices of high-end bottles like Hibiki 30, Yamazaki 25, and Hakushu 25—raising them from 160,000 yen to 360,000 yen. Around the same time, secondary market prices climbed even higher, driven by speculators expecting the upward trend to persist.
However, the slowdown in China's economy ultimately dampened the Japanese whisky boom, which had begun around 2015. Mochinushi noted that buyers who had once been crucial to the Chinese market reported being unable to purchase bottles at previous price levels, reflecting the broader economic downturn.
Paywall alert:
Prices of Japanese whisky in the secondary market have decreased recently, deflating what some analysts had described as a bubble influenced by global economic trends, especially China's economic slowdown. "Premium domestic whiskies have dropped by 15% to almost 20% from their peak," said Jun Mochinushi, an appraiser at BuySell Technologies, a company specializing in branded goods. Mochinushi pointed out that while prices rose in the first half of 2024, they began declining around June or July.
Suntory's Yamazaki 25 whisky (photo credit: Iwasawa Akinobu)
Prestigious international awards had drawn Chinese attention to Japanese whisky, contributing to rising prices. Producer price increases may have intensified the trend. In April, Suntory Holdings more than doubled the recommended retail prices of high-end bottles like Hibiki 30, Yamazaki 25, and Hakushu 25—raising them from 160,000 yen to 360,000 yen. Around the same time, secondary market prices climbed even higher, driven by speculators expecting the upward trend to persist.
However, the slowdown in China's economy ultimately dampened the Japanese whisky boom, which had begun around 2015. Mochinushi noted that buyers who had once been crucial to the Chinese market reported being unable to purchase bottles at previous price levels, reflecting the broader economic downturn.
Paywall alert:
Japan's whisky bubble goes flat as Chinese demand dries up
Prices at high end drop nearly 20% from speculation-driven peak