Investment in whisky has outperformed most other alternative investment vehicles and commodities in recent years, according to research made by Whisky Highland.

The UK-based whisky valuation expert said that the top ten performing whiskies in the Whisky Highland index have gained more than 400 per cent since 2008. Over the same period, the top 100 have returned nearly 250 per cent and the top 250 about 180 per cent.

Whisky Highland emphasises that gold, which has caught the eye of many investors amid the global uncertainty, has risen by about 150 per cent in the past four years, while diamonds have gone up by 10 per cent.

The whisky market is increasing in volume as well and 8,500 bottles were last year sold at auction compared with 1,500 four years ago, the company said. Whisky Highland expects that the value of that auction market, which reached £4 million ($6.4 million) last year, to rise to £17 million by 2020. The firm also said the retail sector is booming, with bottle sales thought to total 85,000 per year, worth around £44 million.

Last year, a bottle of the Dalmore 62 was sold at Changi Airport in Singapore for a world record £125,000. The most expensive bottle ever at auction, a bottle of Macallan 64-year-old in Lalique, was sold at an auction in the US in 2010 for $460,000.

“I’m confident that it won’t be long before whisky is viewed in the same light as art, wine or classic cars, offering a genuine and creditable alternative to these more established asset classes,” said Andy Simpson, who founded Whisky Highland in 2010.

“We are going to see more distilleries and brands release very special whiskies which are designed to meet the growing demand from luxury consumers looking for the ultimate in unique products, whether to use and enjoy or to collect and invest,” said David Robertson, rare whisky director for the Dalmore.

More liquid alternatives

Another liquid alternative investment which has risen steeply over the past years is fine wine, but the Live-ex 50 and 100 indices of fine wines - mostly French vintages – declined by 18.6 per cent and 16 per cent respectively in the twelve months to 31 January 2012. In past five years, however, the Live-ex 50 has risen by 106 per cent and the Live-ex 100 by 65 per cent.

The fine wine market is expected to start rising again this year, according to a new survey bywealthmonitor, an intelligence firm covering the high net worth market. London- and Hong Kong-based Premier Cru Fine Wine Investments said last month that wealthy investors looking to wine as a diversifier should avoid backing Burgundy and focus on the traditional Bordeaux region instead, due to its greater stability and predictability.