Part of the recent and ever-growing series 100 proof from Signatory Vintage, the independent bottler released a few bottlings as an ‘Exceptional Cask’ subseries. We review the first three whiskies bottled in this series: an Aultmore 2007, a Glenburgie 2008 and a Macduff 2007 100 Proof Exceptional Casks, Edition #1 to 3, from Signatory Vintage.
Whisky Prices Raise… But Not Everywhere
The price of whisky, whether aged for decades or for 10–20 years, has risen sharply in recent years, driven by a mix of global demand, production challenges, and market dynamics. Both older, highly collectible whiskies and more accessible mid-aged bottlings have seen significant price hikes, making whisky less accessible to many enthusiasts.
The growing global appetite for whisky has fuelled price increases for both ultra-aged expressions and those in the 10–20-year range. Markets like China, India, and South-east Asia have embraced whisky as a luxury symbol, while traditional markets in Europe and North America continue to value it as a premium product. Mid-aged whiskies, once viewed as more affordable options for enthusiasts, have become sought-after due to their balance of age, flavour, and price, resulting in higher demand and prices. Simultaneously, older whiskies, which are inherently rarer, are being treated as investment pieces, driving their value even higher.
The price disparity between older and younger whiskies is tied to production constraints. Whisky aged for 10–20 years occupies a critical segment, offering a refined profile while remaining more widely available than decades-old stocks. However, even these whiskies are limited by production choices made a decade or more ago. Distilleries that underestimated demand in past decades now find themselves with insufficient stock, forcing higher prices on both mid-aged and long-aged expressions. Meanwhile, ultra-aged whiskies, which are far scarcer due to natural evaporation (the ‘angel’s share’) and limited production in previous decades, command astronomical prices.
The rising costs of whisky production also play a role across all age ranges. Barrel prices have surged due to demand for high-quality oak, particularly sherry and bourbon casks, which are essential for maturation. Energy costs, labour, packaging, and transportation have increased as well, driving up prices for even 10–12-year-old whiskies. Distilleries are passing these costs on to consumers, contributing to significant price inflation for whiskies of all ages.
Independent bottlers, who traditionally offer unique takes on mid-aged whiskies, are also struggling with higher cask prices and limited availability. As distilleries prioritise retaining casks for their own branded releases, independent bottlers must pay more for access to younger and mid-aged stock. These increased costs translate to higher retail prices, making independent bottlings of 10–20-year-old whiskies nearly as expensive as official releases.
The treatment of whisky as an investment has affected pricing across the board. Older whiskies have long been regarded as collectible, with bottles from renowned distilleries fetching record prices at auctions. However, the growing secondary market has also driven up prices for 10–20-year-old whiskies, as collectors and speculators snap up newer releases in the hope of future profits. This speculative activity artificially inflates demand, creating higher initial retail prices and further pushing up resale values.
Distilleries have also adjusted their strategies, treating both mid-aged and ultra-aged whiskies as premium products. Mid-aged whiskies, often the backbone of core ranges, are increasingly marketed with luxury branding and limited-edition releases to justify higher prices. For older whiskies, exclusivity and elaborate packaging are used to position them as rare collectibles, often priced well beyond what many consumers can afford. Even 10–15-year-old whiskies are now being released in special editions with premium price tags.
The rising price of whisky, whether 10 years old or several decades old, reflects a perfect storm of increased global demand, constrained supply, rising costs, and market speculation. While ultra-aged whiskies have become unattainably expensive for many, the once-reliable affordability of 10–20-year-old expressions is also disappearing. This trend highlights the evolving perception of whisky as both a luxury product and an investment, raising questions about its long-term accessibility to traditional enthusiasts.
Despite the widespread trend of skyrocketing whisky prices, independent bottlers like Signatory Vintage and a select few others have stood out by maintaining relatively fair pricing for their releases. These companies prioritise accessibility for whisky enthusiasts, choosing not to fully capitalise on the speculative and luxury-driven pricing that dominates much of the industry.
Signatory, for instance, continues to release a wide range of bottlings, from younger whiskies to mid-aged and even older expressions, at prices that reflect their quality without excessive markups. Their commitment to offering value is evident in their core range, such as the Un-Chillfiltered Collection, which provides high-quality single malts at reasonable prices, often far below similar offerings from official distilleries.
Other independent bottlers, like Gordon & MacPhail and Cadenhead, also aim to strike a balance between quality and affordability. While they release premium and rare expressions, many of their whiskies remain accessible to seasoned drinkers and newcomers alike. By focusing on transparency, such as providing cask details, age statements, and natural presentation, these brands appeal to those who value authenticity over flashy marketing.
These bottlers’ ability to resist excessive price inflation stems from their ethos of catering to enthusiasts rather than speculators. While market pressures and rising cask costs inevitably influence their pricing, they have managed to avoid the extreme premiums seen elsewhere. This approach not only preserves their reputation but also ensures that whisky remains a product for enjoyment, not just a collectible or investment. Their stance offers a refreshing contrast in a market increasingly dominated by high-priced exclusivity.
Aultmore 2007 100 Proof Exception Cask Edition #1 Signatory Vintage Review
Distilled in 2007, this Aultmore spent 17 years in a 1st Fill Oloroso Sherry Butt before being bottled by Signatory Vintage on March 22, 2024, as part of their 100-proof series. Labelled Edition #1 of their Exceptional Cask sub-series, filled at 57.1% ABV, non-chill filtered, and natural colour. Priced around £70/€80 in the UK and EU, it offers great value for a high-strength 17-year-old single malt.
Colour:
Russet.
Nose:
Neat: Rich dark fruits, crêpe suzette, buttery tartness of raw sweet shortcrust pastry, caramel, syrupy peaches, milk chocolate, cherries, and gentle spices.
With water: More alcohol heat, oak notes, raisin pastry, and flaked almonds.
Palate:
Neat: A spicy, slightly hot arrival transitions into a pleasant citrusy sourness, accompanied by dark cherries dipped in dark chocolate, leather, and unlit cigar leaves. While the wood was subtle on the nose, its gentle bitterness emerges on the palate, staying well balanced. The mouthfeel starts velvety, becoming creamier before swallowing, then shifts to a vegetal and herbaceous character with notes of bay leaf, clove, and nasturtium.
With water: Slightly more heat after dilution, with amplified citrus and wood notes. Hints of white pepper, red chili, and dark chocolate lightly infused with raspberry add depth.
Finish:
A lingering light bitterness, with the ABV more noticeable now. Notes of citrusy sourness, candied orange zest, burnt brown sugar, and raw oak.
Comments:
A delicious Aultmore with excellent complexity on both the nose and palate. Neat, the alcohol is well integrated, noticeable but never overpowering. With water, a slight dissonance emerges, so this Aultmore 2007 is best enjoyed neat.
Rating: 7/10
Glenburgie 2008 SV Review
This Glenburgie was distilled in 2008 and matured in a 1st Fill Oloroso Sherry Butt before being bottled on March 25, 2024, by Signatory Vintage in their 100-proof series. This is Edition #2 in their Exceptional Cask sub-series, bottled at 57.1% ABV without chill filtration nor additional colouring. Still available in the EU and the UK, expect to pay about £70 / €80 for a bottle, which is good value for a 15-year-old high strength single malt these days.
Colour:
Tawny
Nose:
Neat: The nose opens on notes of glue and English wine, followed by sweet yellow fruits, canned peaches, and unlit cigar. Hints of cinnamon, allspice, caramel, plum pie, subtle cider vinegar, and freshly made pralines add depth.
With water: After reduction the nose becomes more spirity, with an initial solvent note, followed by dust and a faintly acrid touch.
Palate:
Neat: Thick and sweet with a spicy kick from black and chili pepper, balanced by brown sugar, caramel, and milk chocolate. Notes of dried and red fruits, nuts, and chocolate evolve into citrusy bitterness and oak sourness.
With water: Enhanced fruitiness with blood orange, pomelo, and dark cherries, followed by salted dark chocolate and almonds.
Finish:
A medium-long finish with lingering notes of chocolate, unlit cigar, leather, wood, and black pepper.
Comments:
The nose is very good, but the palate falls a bit short, with the alcohol being too prominent. It’s not particularly exceptional. After adding water, the balance shifts: the nose becomes a bit disjointed, while the alcohol heat on the palate diminishes, allowing new flavours to emerge.
Rating: 6/10
Macduff 2008 SV Review
Distilled in 2007, this Macduff matured in a 1st Fill Oloroso Sherry Butt before being bottled by Signatory Vintage on March 22, 2024, as part of their 100-proof series. It is Edition #3 in their Exceptional Cask sub-series, bottled at 57.1% ABV, non-chill filtered, and naturally coloured. Priced around £70/€80 in the UK and EU, it offers great value for a 17-year-old high-strength single malt today.
Colour:
Russet
Nose:
Neat: A rich fruit profile with plums, cherries, black grapes, pears, and figs, complemented by butterscotch, caramel made with sugar and milk, vanilla cream dessert, and sliced almonds. The nose has the perfect balance of intensity— the alcohol is present but doesn’t overpower, even when you nose deeply.
With water: After reduction the nose becomes sweeter, with notes of custard, toffee, leather, and a hint of floral aromas.
Palate:
Neat: Initially, caramel greets the palate, followed by a delightful citrusy heat and sourness. Candied orange, dark cherries, plums (greengage), clementines, and both white and milk chocolate are present, along with spices that add to a prickly but creamy mouthfeel. There’s a hint of wood, well balanced, with a slight bitterness, espresso, and gingerbread.
With water: Opens sweeter at first, then spices and citrusy sourness intensify, maintaining balance. The profile is quite enjoyable, with additional notes of melon, green apple, ginger, and perhaps a touch of pineapple.
Finish:
A medium-length finish with Christmas spices, candied ginger, milk chocolate, a touch of wood, and blond tobacco.
Comments:
A lovely Macduff, especially with a few drops of water. Despite its 16 years in 1st fill Oloroso sherry butts, it avoids becoming a sherry bomb, maintaining a bright, fruity, and intriguing character. It’s funny—before tasting, I would have leaned toward the Glenburgie, but it turns out the Aultmore and Macduff were the most interesting of these three Signatory 100-proof (but none being truly) exceptional casks.
Rating: 7.5/10
Thanks Arnaud! Individual bottle pictures: Whiskybase. Feature picture: Kirsch Import.
