2025下半年威士忌市场更新报告：高端威士忌迎来入手良机？

Is Now the PerfectTime to Buy Whisky? Top quality whisky becomesa lot more affordable. A Note fromOur Founder When markets soar and prices reach newheights, people tend to look at historiccharts, often wishing they could buy at thepreviously lower prices. But when marketsfinally retreat, and prices fall, consumersoften conclude that the product wasperhaps undesirable all along, and hencefewer purchases are made. However, whenthe market climbs again, the new pricesalready feel too expensive since the newreference is the previous low. base saw their median auction buyerprice drop by 18% over the past year. Andan 87–90 Whiskybase points releasecurrently sells for €190 on average, 15%less than in early 2024. In other words,for those who are in themarket for good whisky, it might be theperfect time to buy. A few hundred Eurosbuys a lot more whisky (both in terms ofquantity and quality) than just a few yearsago, and that is while inflation saw pricesclimb significantly elsewhere. If you are inthe market for Japanese whisky, you arecurrently seeing a discount of almost 70%compared to 2022. On the secondary market,quality whiskyis now more affordable than it has beenin a very long time. Auction prices havefallen more than 40% from their 2022peak. And although prices have not fullystabilised, the downturn momentumslowed significantly in 2025. Our analysisof other collectable assets shows thatWine and Watches may have just reachedtheir low pointand a turnaround isperhaps underway. Given the close corre-lation between Whisky, Wine and Watchesthroughout the highs and lows of the pastfive years, these circumstances mightsuggest a similar trend for Whisky. But the reason for these discounted ratesis, of course, uncertainty. When will pricesclimb again, or will they fall even further?Nobody knows. However, for thosefocused on acquiring desirable whiskiesrather than timing the market, currentprices offer opportunities that one couldonly have dreamed of a couple of yearsago, when staring at those historic charts. Cheers, But market timing requires a crystal ball.So let us look at the factual data. Over2025, trading values continued to fallwhile volume decreased only slightly. Inother words, the product is still plentiful,but prices are much more attractive.Whiskies scoring 90–92 points on Whisky- Johannes MoosbruggerFounder and Head of Data Contents MARKET INDICES Page 04 Finding the Bottom 2TRADING VOLUMES & VALUESTop Quality Becomes More AffordablePage 10 3AUCTION HIGHLIGHTSOne of a Kind Whisky Page 14 Whiskystatsstrives to provide the most accurate and comprehensive whisky datapossible. Our team continuously updates the database with emerging whiskyinformation, adding historical price points for completeness and accuracy.As a result, some figures in this report may differ from earlier publications. MARKET INDICESFinding the Bottom1 More Data,Less GuessingFeeling overwhelmed in theup-and-down whisky market?A Whiskystats subscriptionincludes: Timely market indices andreportsAccess to current andhistoric retail and auctionpricesWhisky watchlists andnotifications JOIN TODAY. Wine and Watches attempt aturnaround in secondary-marketpricing. The third quarter of 2025 was relatively calm for most collectable assetclasseswe track. Whisky tried to recover from the Q2 tariff shock thatwe highlighted in our 2025 H1 report. In a calm market with low tradingvolume, the Whiskystats Whisky Index basically moved sideways in July,August and September and eventually closed the third quarter with aminus of 1%. Collectable watches and wine also did not move much in Q3,as the ChronoPulse Watch Index lost 0.4%, and Fine Wine, represented bythe Liv-ex Fine Wine 100 Index, gained 0.4%. The only exception was Art,as the AMR’s All Art Index fell by 7.7% in 2025 Q3. However,the fourth quarter of 2025 painted a different picture. Wine andWatches built up on the momentum from Q3. Both the Liv-ex Fine WineIndex (+2.2%) and the ChronoPulse Watch Index (+1.8%) closed the quarterwith a solid plus. Whisky, on the other hand, was unable to sustain theprice stabilisation into the peak whisky trading season.Secondary whiskymarket prices tumbled againas the Whiskystats Whisky Index was in thered throughout the closing quarter of the year, with a total quarterly lossof -4.8%. Art prices took a big swing in Q4. After the extreme losses of Q3,the AMR’s All Art Index signalled equally extreme gains of 8.1%. All of these alternative asset classes closely tracked one another throughthe post-COVID hype that peaked in 2022 and the subsequent downturn.Now that Wine and Watches seem to be stabilizing, and perhapswitnessing a turn around, maybe Whisky and Art will follow a similartrajectory.The 2025 H2 results already indicate that Wine and Watchesmight be ready for an upswing. The upcoming results in 2026 Q1 and Q2will be crucial for determining whether this is the case. Whisky attemptedthe same in 2025 H2, but ultimately failed in Q4. But if