The Pleasures and Sorrows Of Capitalism

When I tell people how much I spend on whiskey, they are horrified. You mean you can spend upwards of sixty euro on a bottle? they gasp. It usually leads to more questions – what is the most you would spend on a bottle, how much do you earn, what makes it so expensive? All great questions that I’m happy to answer – the most I would spend is about 120 euro; I earn somewhere around the 50k mark each year, and as for what makes good whiskey expensive, that is a heady brew of real-world elements – age, rarity, source – and more ephemeral ones – legacy, branding, prestige – all of which combine to create that most elusive of things; aura. 

Super-premium is not a mode of production. It is a price category, and perhaps more importantly, it is a demographic, one which Irish whiskey has only just started to explore. Midleton Pearl was an early foray into the field in 2014, with a six grand price tag – a figure that seems modest when you consider what was coming next. 

Louise McGuane wrote a great blog post about the gap in the super-premium sector within Irish whiskey, drawing on her decades of experience in the luxury goods sector. She then went on to release The Chosen – a super-luxe spirit which may or may not be a 27 year old peated Bushmills.

This has been eclipsed by Midleton Very Rare Silent Distillery Chapter One, which smashed into the sector this week with a price tag affonting heaven – 35,000 euro. 

The launch in London was a VIP affair and the press release and accompanying visuals were typically slick (and typically po-faced, given the brief), all striving to create the required aura. 

A price tag like this may seem offensive to us mere mortals, but if you earn half a million a year and want to invest, or if you earn millions and want a treat, the price tag is not that outlandish. Yes, it’s obscene, but that’s capitalism, baby – my purchase of a Redbreast 21 for 180 would be seen by many as completely over the top, so it’s all a question of perspective. 

As for the 35k tag, it doesn’t even come close to what the exclusive releases from the Macallan command; nor does it even qualify for this list of the top ten most expensive whiskies. The Scots have been doing super-premium for years, and doing it well – so why not us? And if Midleton are doing it, why not Bushmills?

And so to the liquid itself; John Wilson of the Irish Times has a review of it. It’s a nice bottle, a nice box, and I’ve no doubt it is a nice liquid. Not that this matters, because all anyone needs to know about this is the price. That is the defining factor.

The series opens with a peated single malt from old Midleton. It is worth remembering that there are other bottles of old Midleton out there which you can grab at auction for less than a grand, albeit none of it malt and none of it peated. In fact, this is the first official single malt from old or new Midleton (the Method & Madness one is distilled at Bushmills), and a peated one at that. So it is something of a unicorn. I have no doubt it will sell, because, as McGuane pointed out, we need this offering.

But back to MVRSDCO, and the salient points: 

  • Six releases. The first is a 45-year-old Irish single malt. There will be one release annually until the year 2025, ranging in age from 45 to 50 years old, all from Old Midleton Distillery (1825-1975). 
  • The last release will coincide with Old Midleton Distillery’s 200th birthday, while Chapter One will be the first official release from Old Midleton in 16 years.
  • Midleton Very Rare Silent Distillery Collection Chapter One is the only release in this collection that is a peated single malt – it has been in a third-fill sherry cask cask for 45 years.
  • RRP: €35,000 £32,000 $40,000; ABV 51.2%; 48 750ml bottles in Ireland, UK, France and US; two bottles will be sold via ballot system on The 1825 Room, the Midleton Very Rare online members’ programme. Whiskey lovers can register their interest to be entered into a lottery to purchase a bottle from 9pm on 18th February for one week. 

You can say that the price is obscene. Many would say the money we, as whiskey lovers, regularly spend on a bottle is obscene. There are people out there who are immensely wealthy, and they want a drink that reflects their status. Super-premium has little to do with how it is made and much to do with how it is sold, and who it is sold to – and in this case, it’s not you, not me, and most likely not anyone we know. 

So, in summary – capitalism is bad, whiskey is good, and time is the only commodity of any value.

Author: Bill Linnane

Bylines in the Irish Independent, Irish Examiner, Irish Tatler Man, Evening Echo, and Distilled. Proud owner of the award-defying TripleDistilled.Blog, Ireland's Least Successful Blog™.

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