The Nikka Nine Decades bottled in celebration of Nikka's 90th anniversary.
There are plenty of reasons to collect Japanese whiskies, not least the steady flow of high-end collectibles that enter the retail market. Keep an eye on the 2024 Tsukuriwake Series from the House of Suntory, which includes four limited-edition bottlings from Yamazaki and Hakushu. The previous Tsukuriwake release in 2022 attracted significant auction interest, whether sold as a set or individually. Between 2021-23, Nikka Whisky released its Discovery Series—five one-off exploratory bottlings that showed the impact of different yeasts on aromas created during fermentation, the making of peated whisky at a distillery known for its unpeated style, and the blending of aged grain whiskies, among other experiments. Nikka Nine Decades, a world blend of whiskies from every decade stretching back to the 1940s from six Nikka-owned distilleries, was released for the company’s 90th anniversary and will undoubtedly attract collectors.
The Japanese whisky auction record was previously held by Karuizawa 1960 52 year old and editions of Yamazaki 50 year old, but the current record holder is Yamazaki 55 year old. It attracted a hammer price of $645,125 at Bonhams, Hong Kong in 2020 and can still fetch over $200,000 at auction, but several bottles have not sold this year after failing to reach their reserve. Japanese whisky at auction took off internationally as a collectible over the past 5–10 years, spurred on to new heights by bottlings of the last casks from Karuizawa and Hanyu. Many bottles remain in circulation and turn up at auction regularly, but be cautious around any bottlings with easily replaced wax seals, as many lack dependable security features. Auctioneers often spot color variations between bottlings purportedly from the same batch, which has led to questions about provenance and authenticity.
Blended Japanese whisky, especially Hibiki limited editions, commands some of the highest auction prices for any blends, including scotch. Japanese single malt is the other best bet, but koji whisky has yet to make much of an impact beyond some savvy bidders seizing a good deal. It’s worth remembering that koji whisky is only sold as whisky in the U.S., but that national exclusivity is a double-edged sword. Drinkers of Japanese whisky may be curious to try them, but as these cannot legally be called whisky in other countries, it’s likely their value will be far lower as a result.
Finally, Japan’s distillery construction boom brings plenty of scope for building up a modern collection. Chichibu is a sought-after collectible with a vast array of single cask editions and limited labels, but it’s popular, and there are few bargains. Early releases from young distilleries showing real promise are worthy of your consideration too, such as Shizuoka, Akkeshi, and Kanosuke. If nothing else, the payback for early adopters will be knowing that each fledgling distillery release they acquire captures a valuable moment of liquid history.
Japanese whisky at auction took off internationally as a collectible over the past 5-10 years, spurred on to new heights by bottlings of the last casks from Karuizawa and Hanyu.
