MY friend/landlord here has a huge wine cooler down the hill, and has some bottles of wine down there that are the price of a house. He went crazy one day when the coolers, cooler went out. I had to drop what I was doing, find one, get it shipped and install it. HAAAAAAAAAAAAA
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As we discussed recently when we covered the growing trend in cryptocurrency insurance, where there are booms (and busts), there are going to be boom-derivatives to profit off of. The high-end whiskey market is no different, and with the rarest whiskeys sometimes costing millions of dollars, insurance on these rare liquors is becoming a booming business, according to a Bloomberg article.
Ron Fiamma, head of global collections at AIG - best known for selling CDS ten years ago and now even better known for selling whiskey insurance - said that "whiskey collectors now number in the many hundreds, closing in on 1,000 individual collectors of all stripes and values. When auction houses are holding two or three whiskey auctions a year, with some whisky going for a million or half a million dollars, clearly it warranted attention."
For proof, look no further than a 60-year-old Macallan whiskey which recently sold at auction for about $1 million in London and another Macallan that was produced in an ex-sherry oak cask that sold for $1.5 million. Both of these selling prices were twice above
http://www.zerohedge.com/news/2018-12-11/bottles-selling-15-million-whiskey-insurance-industry-booming?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29
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