It is no surprise there has been a huge rise of new investors looking to capitalise on the growth of whisky market in the recent times. With high inflation many investors are looking for safe and secure investments that don’t erode the buying power of their hard-earned money.
This leads many people to whisky, having shown great historic returns and being completely capital gains tax free for investors. However, as with all new investments, there are tips buyers need to be aware of when looking for the best whisky in Singapore. Read on the tips below.
BuyingAt The Right Price
The main issue new shoppers have whilebuyingwhisky is not being able to identify the real value. Unlike buying other products, there is no live market price for each cask, which has led to a lack of transparency in the market.
A great way to identify the real market value is to contact the distillery and see if they sell casks to the public, and if so, the price they are selling for them. A lot of the time, the distillery will have their own cask offers on their website which will help you establish the true value.
Ensure the seller has a WOWGR license
To legally own Scotch whisky in government bond, you need to obtain a ware housekeepers and owners of warehoused goods regulations license. As a whisky brokerage storing duty suspended goods, sellers will trust you with potentially millions of money in VAT and duty for them. This means they have strict procedures in place to prevent any chance of tax rates.
Companies with WOWGR licenses have typically been through a diligent few month’s process with officers that consist of phone and in office meetings. There is also thorough investigation of business and director personal records and more to ensure they are operating legitimately. This is why it’s recommendable to deal with companies with a WOWGR license.
FinalThoughts
The whisky market is similar to the property, market. While historic performance and supply and demand are factors that indicate the market is only moving upwards, one cannot guarantee whisky will increase in value. However, following the tips above will help you get the best whisky Singapore sellers hassle free. You may also read customer reviews to hear the words from different customers. That way, you will be in a position to make an informed purchase.