The Springbank 1919 50 Yr Previous Proves No One Cares About Whisky

The Springbank 1919 50 Yr Previous is among the oldest classic scotch whiskies obtainable in the marketplace. This unbelievable whisky was distilled greater than 100 years in the past and first bottled in 1970. However that’s not the wildest factor about it.

The Springbank 1919 is an enigma. It’s a single whisky that you could presently purchase for each £100,000 and £10,000—in the identical month! And that’s why we predict it proves that some individuals simply don’t care about whisky.

The Two Bottles of The Springbank 1919

Let’s be clear, there are two variations of the Springbank 1919 50 12 months previous. However so far as we are able to inform, and anybody we ask agrees, they’re precisely the identical whisky.

Each editions of this Springbank 50 12 months previous have been distilled in the identical 12 months and initially it was all bottled in 1970. The marketplace for single malt was very restricted in 1970 and so this unbelievable whisky was bottled in one in every of Springbank’s comparatively commonplace bottles for the time. The “Pear Formed” bottles now type their very own collectors’ mini-series, however for an concept of how unremarkable it was deemed to be, the discharge even had the identical label design as a few of their 12 and 15 12 months olds from the period.

By the Eighties a small variety of distilleries began to have a look at advertising single malt outdoors of Scotland. Springbank determined to rebottle the remaining inventory of the 1919 50 12 months previous from the basic pear formed bottle right into a tall spherical bottle with a stylized label. There have been simply 24 of those, which have been hand numbered and got here with a field. Thus started the unusual duality of this unbelievable whisky.

One Whisky, Two Values

On the finish of 2023 each variations of the Springbank 1919 whisky bought at two auctions in the identical month. The rebottling bought for £125,000, proper in the course of its pre-sale estimate of £100,000 to £150,000. Together with charges the unique pear formed Springbank 1919 bought for simply over £10,000.

However what’s it that causes the putting distinction in worth between two bottles that include the identical whisky? To start with let’s think about the exceptional feat that this whisky survived in any respect.

Surviving The Collapse Of Campbelltown

Springbank was the fourth (licenced) distillery in Campbelltown, based in 1828. By 1885 there have been 21 distilleries within the comparatively small area. It was so closely populated with distillers that Alfred Barnard, famend whisky historian, dubbed the city “Whisky Metropolis.” 

In 1919 when this whisky we’re discussing was distilled, Springbank was on the heart of the whisky world and a part of a booming trade. By 1920 all that modified; prohibition was declared.

It wasn’t simply the banning of alcohol within the US that triggered the area’s downfall. Loads of different distilleries boomed due to unlawful smuggling. Nonetheless Campbelltown had change into a sufferer of its personal success. Many distillers sacrificed high quality to satisfy demand and that mixed with (and doubtless contributed to) a shift in tastes away from the tremendous closely peat model Campbelltown was identified for result in the area’s virtually full collapse.

In contrast Springbank had began to shift their manufacturing to a much less peated end as early as 1900. This, together with a steadfast adherence to high quality, meant it was one in every of solely two distilleries to outlive. That meant that though a lot of Campbelltown’s 1919 inventory was chucked within the loch, Springbank’s notorious 1919 classic survived.

The First Springbank 1919: A Whisky Earlier than It’s Time

The Springbank 1919 50 Yr Previous had overcome its first hurdle and survived (in all probability forgotten) till 1970 when it was surprisingly bottled as a single malt. It’s stunning as a result of in addition to being technically underproof, it was a single malt in a market that was centered on blends.

Unusually for the time, the unique pear formed launch was formally bottled by Springbank itself. They have been in a position to do their very own bottling as in 1969 they bought wine service provider and unbiased bottler Cadenhead. There have been comparable (youthful) single malts being launched on the time however official distillery releases have been bottled by the likes of Gordon & Macphail or Campbell Hope & King and so forth.

For some markets the pear formed 1919 whisky is labeled as 66.3 Proof, and for others as 100% Pure Malt—presumably some sort of suggestion of it being cask energy regardless of it not being at 70 proof. The bottling legal guidelines of the time meant underneath 40% ABV was acceptable, and so this extraordinary whisky was launched to market. It was fairly probably the oldest classic whisky obtainable on the time.

The truth was that it was launched right into a market that didn’t care about single malt and that was (as soon as once more) about to break down.

In 1970 blended whisky was booming. Manufacturing had by no means been increased because the trade fortunately grew to accommodate the persevering with publish World Battle II demand. It’s not a stretch to think about that the stray cask from 1919 was discovered whereas looking for area to retailer all of the whisky being produced on the time.

The Eighties marked the beginning of what’s referred to as the “whisky loch” because the trade as soon as once more went into decline.

The Second Launch: The Tall Bottle 37.8% 

Springbank ceased distilling whisky between 1979 and 1987. Not like many different distilleries, they remained open and continued to promote their present inventory—such because the 1985 Longrow launch.

Whereas we don’t have an actual rebottling date for the rebottling of the Springbank 1919 50 Yr Previous we are able to use a couple of key occasions to work out when it may need been. In 1980 the UK modified from imperial to metric measurements. Following this modification all bottles of scotch whisky needed to be labeled in ml or cl and energy needed to be listed as ABV slightly than proof. Then in 1990 the usual bottle dimension modified to 70cl/700ml. The rebottling of the 1919 whisky is labeled 75cl and 37.7%, which implies it was rebottled after 1980 however earlier than 1990.

As we all know that Springbank weren’t distilling new whisky between 1979 and 1987 we might additionally make the (comparatively huge) assumption that they’d have appeared to maneuver unsold inventory whereas distilling was paused. That narrows us right down to 1980 to 1987. Then we are able to add some extra tangents which can be extra “educated guesses.” For instance, in 1983 Macallan launched their 50 12 months previous Anniversary Malt, whereas Balvenie’s 50 12 months previous was bottled in 1987. So the Springbank 1919 rebottling could have been in response to those.

Whatever the actual launch knowledge, the rebottling was a really restricted version of simply 24 hand numbered bottles, introduced with a handwritten model label and a putting presentation field harking back to a pagoda. In any other case it’s the very same whisky as its pear formed youthful brother, and but the file paid for the rebottling stands at over £266,000, in comparison with simply £23,000 for the unique.

Why No One Cares About Whisky

We love whisky and loads of different individuals love whisky too. However as a society now we have been educated to impart values to issues past what might be defined tangibly. If what was vital was the whisky, then the worth for these two bottles could be the identical. The very fact they bought for such vastly totally different sums inside one month exhibits that worth is being added based mostly on one thing else.

You might argue that the gross sales by way of totally different public sale homes are liable for a number of the distinction in worth. The truth is we often see a extra modest shift in worth—correlating roughly with purchaser’s premiums—whenever you evaluate outcomes from the normal/luxurious public sale homes to more moderen on-line specialist auctions.

The most important distinction between the 2 Springbank 1919 50 Yr Olds is packaging. To whisky fans each variations are wonderful, as a result of we perceive each as merchandise of their time. However to the informal collector, or extra importantly to the high-net-worth collector after standing bottles, it’s the rebottling that has the gravitas to shine in a set. The rebottling has the presence, the case and presumably most significantly, the proud proclamation of the uber-exclusive 24 bottle restricted version standing, to hold the quarter million price ticket.

In contrast the unique bottling is way more unassuming. It doesn’t scream high-value collectable to all however a really restricted variety of different whisky geeks. It additionally doesn’t have a restricted version quantity on it. However truly, whenever you do some estimates of potential launch numbers, there’s a superb probability there have been lower than 160 of them to start with…

A Thought Experiment On Launch Numbers

The unique launch for the Springbank 1919 doesn’t have a variety of bottles listed. We have now to make fairly a couple of assumptions and guesses right here, so that is simply as a focal point, however think about this…

If we assume this was only a single cask forgotten in a nook of the warehouse, then now we have a tough start line for fill quantity. Realistically we might count on it was a butt to outlive 50 years, which supplies us roughly 500 liters again in 1919. We all know common charges of evaporation, so for a butt we might count on round 60 to 180 liters remaining after 50 years. However as we all know this has a low ABV, let’s assume the angel’s have been thirsty. Eradicating the 24 that we all know have been rebottled for the second launch leaves us with a most variety of bottles for the unique Springbank 1919 50 12 months previous of 136, and a minimal of round 36. If it was a smaller cask then you could possibly be lower than half of these figures.

A few of these could have been drunk within the 54 years because it was first launched. In complete now we have discovered lower than 50 gross sales of all of those bottles recorded since 2010. We might count on a couple of of those to be the identical bottle being resold, and a few could have been bought privately. Even so, these don’t immediately contradict the vary of potential launch numbers above.

So, whereas remembering that that is very a lot all a thought experiment, let’s simply keep in mind that the £2.2 million, most costly whisky on the planet, is one in every of 40.

With that to think about, I’ll simply lastly point out that this isn’t the one scotch whisky to expertise this phenomena. Different examples of rebottling’s going for far more than the unique embody: Bowmore (Black Bowmore DB5 versus Black Bowmore Last) and quite a few by Macallan, maybe essentially the most well-known being the Effective and Uncommon model of the 1926 60 12 months previous itself. And in case you’ve discovered this attention-grabbing do additionally try this video by Whiskey Wash Editor in Chief, Mark Littler.