Collecting vintage spirits

By Luke Honey

Published: Wednesday, 04 January 2023 at 12:00 am

Many of us have nostalgic memories of the family drinks cupboard at Christmas. Familiar brands with names that roll off the tongue: Martini, Campari, Cinzano Bianco, Gordon’s London Dry and Smirnoff Vodka Red Label. There’s father’s favourite gin, grandma’s dusty bottle of sherry – a survivor from Christmases past – and, languishing at the back, that exotic liqueur with the unpronounceable name. And lingering over everything – the sweet, evocative smell of spirit, plastic and glass.

How much are vintage spirits worth?

Rare old whiskies are an established connoisseur’s market, and bottles of Macallan – a single malt whisky considered by many to be one of the greatest and most sought-after whiskies in the world – can change hands for thousands of pounds. Sukhinder Singh, founder of The Whisky Exchange, has a personal collection of over 10,000 bottles; primarily rare whiskies but also brandies, old liqueurs and unusual spirits.

As vintage spirits (other than whisky and cognac), liqueurs and old vermouths become increasingly collectable, some examples remain comparatively affordable. ‘It’s a relatively young market,’ says Alex Huskinson, shop manager of The Whisky Exchange in London’s Covent Garden. ‘But we are now seeing an increased demand for vintage gin.’

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Macallan 1940 single malt Scotch Whisky, £37,000, The Whisky Exchange

Edgar Harden of Old Spirits Company is a leading online dealer in vintage spirits and liqueurs. A former Christie’s furniture specialist, he discovered the world of vintage spirits by accident when, during a house clearance, he came across a case of old gin at the back of a cellar.

‘My client said: “Sell the claret, but bin the gin!” He asked me, literally, to throw the case on the skip, so I took it home instead. It was a 1960s Gordon’s. I tried one bottle neat and at room temperature: it was smooth, citrus-led and delicious. I then tried out different combinations for Martinis and other cocktails. The rest is history.’

Do vintage spirits expire?

Vintage spirits are a relatively safe bet in terms of preservation, compared, say, to wine with an unknown storage history. They have a higher ABV (alcohol by volume) – the standard measure for alcohol content – making them tougher when faced with long-term fluctuations in temperature, light and humidity, which is a possible advantage when buying at auction.

Find out more in our guide to buying wine at auction

Spirits evolve once they are bottled, known in the trade as ‘the old bottle effect’, and all classes and brands of spirits change in different ways. The higher the proof, the longer it takes for a noticeable change to come about but, when it does, the change is often impressive and long-lasting. ‘It’s very much part of the fun,’ says Alex, ‘not knowing what a spirit might taste like.’

‘A strong Polish vodka might take decades to change,’ agrees Edgar Harden but, ‘when it does, it is rich, smooth and bready, quite delicious on its own, in a Martini or Vesper (cocktail) and wonderful with food.’ In a sense, tasting a vintage spirit is like buying into a time capsule from the past. Gin from the 1950s, ‘60s and ‘70s has a classic, juniper-intense flavour, in contrast to the botanically infused gins of the 21st century. A fortified wine like vermouth, on the other hand, might change more noticeably in five years because it oxidises relatively quickly.

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Polish Vodka Vyborova c1930s, £199, The Whisky Exchange

A surprising number of bottles survive intact. The affordability of the package holiday in the 1960s and ‘70s meant that Britons could travel to the Continent for the first time – a pleasure previously only enjoyed by the rich. And with the holiday came the souvenir memento; a bottle of the local spirit or liqueur, often ending up unopened at the back of the cocktail cabinet.

What makes a vintage spirit collectable?

‘People often buy vintage spirits for nostalgic reasons,’ says Edgar. Clients buy ‘brands that remind them of a specific person, most often a parent’. The aesthetic design of the label, and the bottle, is very much part of the appeal, too: ‘Those old bitters and vermouths have fantastic labels,’ enthuses Alex. A bottle of Don Eden Bianco Alla Vaniglia Vermut from the 1940s (£250, The Whisky Exchange) is a riot of colourful lithography and evocative typography.

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For more modernist tastes, Old Spirits Company lists a bottle of 1970s Finlandia Vodka (£100), with superb package design by Tappio Wirkkala (1915–1985) in characteristic iceberg-inspired ‘frosted’ glass, similar to the glassware designed for Iittala. A 1965 Booth’s Finest Dry Gin (£210, Old Spirits Company) – ‘the Gentleman’s Gin’ – features the Red Lion trademark on its distinctive label: the heraldic crest of the Booth family, founders of the distillery in 1740.

On the other hand, some enthusiasts buy vintage spirits primarily to drink. Unlike other collectables, there’s a distinct advantage – if prices fall, you can at least consume your hoard. ‘Beauty is in the eye of the beholder,’ says Alex. ‘A client might buy a bottle to drink or, then again, to add to a historical collection.’ In which case, ‘a little bit of cap damage might not be so much of a problem’. Spring-loaded caps from old Gordon’s Gin preserve well, but twist-off caps on post-war Tanqueray often don’t provide a good seal. Others might insist on pristine labels and high liquid levels in the neck of the bottle.

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Gordon’s London Dry Gin c 1950s, £399, The Whisky Exchange

Buying and selling online is also popular. As restaurants, pubs and bars close down, job-lots come up for sale at auction on a regular basis. There are often bargains to be had, although, as ever, the old rule of caveat emptor applies, and the auction house will add on a buyer’s commission (+ VAT on the commission) and an internet surcharge on top.

Ultimately, there’s a never-ending variety of alcoholic possibilities: gin, rum, vermouth, tequila, Campari, Grand Marnier, pastis, amaro, vodka and old Chartreuse – the liqueur made by Carthusian monks since the 18th century, and a particular favourite of Alex Huskinson.

At the more expensive end of the market, The Whisky Exchange lists a bottle of rare Old Tom Gin from the 1940s at £850, yet a bottle of 1970s Gordon’s London Dry, with a damaged label, might be had for £79.95. At the same time, Old Spirits Company has a bottle of 1954 Campari Cordial for sale at £240. ‘There’s something for everyone,’ says Edgar.

Buying advice

Purchasing

Buy from a reputable dealer, wine merchant or auction house with a knowledgeable specialist. Never be afraid to ask questions. A good dealer, wine merchant or auction specialist is there to help.

Storage

Spirits and liqueurs should be stored upright – ideally in a cool, dark place with reasonable but not excessive humidity, or at least in a spot with a constant temperature.

If you’re looking for the perfect piece to display your spirits on special occasions, take a look at our round up of the best drinks trolleys.

Evaporation

This can occur and is acceptable to a certain point. Specialist dealers tend to avoid bottles with a fill level below the shoulder, although that might be acceptable to a collector (at auction) if the bottle is scarce or rare.

Condition

Understand that people buy for different reasons. If you’re buying a bottle primarily to drink, then an intact cap and fill level may be of more importance than a damaged label.