The Gardaí want to hear from anyone who has been scammed by whiskey investment

[joe sod]

Even legitimate investments in whiskey are looking shaky now, too many new distilleries were built during the go go years of the last decade. All this new product is running into trump tariffs and the new found puritanism regarding alcohol that we also saw a century ago which killed off the last whiskey boom

 

[odyssey06]

I think also, there was a surge in spending on higher end spirits during covid, people who weren't going to pubs put that money (100 - 200 euros a week) towards home drinking. People were buying hard to get bottles they were on the inside track to and 'flipping' them at auctions for double what they got. One tactic was buy 1 to drink, buy 1 to sell.

 

[joe sod]

think also, there was a surge in spending on higher end spirits during covid, people who weren't going to pubs put that money (100 - 200 euros a week) towards home drinking.

Think this also affected classic car market, there was a booming market during covid as people had nothing else to spend their money on and now there is a slump in the market I believe

 

[kickstart]

I don't know how you would check if the promoters were genuine or not.

I looked at a prospectus from one of the smaller distilleries a few years back out of curiosity. I did not invest. The thing that makes me believe the particular one I looked at was genuine was that the end product they promised you was Whiskey, not profit. The clearly illustrated the costs along the way (the quality checks, the loss to evaporation, storage costs), and at the end - paying the excise charge, and the cost of bottling and labelling. And if you sold it on then, they outlined you'd have a taxable gain to reckon with.

I did not invest because I wouldn't know what to do with 250+ bottles of whiskey. They didn't suggest it was particularly likely that there would be any huge gain - it was the dream of owning and finally bottling a cask they were selling.