“L-auction”, Japan’s Second-ever Liquor Specialty Auction, to Be Held in Tokyo
TOKYO–(BUSINESS WIRE)–Theou Inc. (head office: Chuo-ku, Osaka; CEO: Atsuyuki Kikuchi), a company that buys, stocks, appraises, and sells vintage liquor, will hold their second “L-auction” liquor specialty auction on Monday, September 30th, 2019, in Okachimachi, Tokyo, Japan. Since acquiring their liquor sales agency license, Theou has become the first company in Japan to hold large-scale auctions of whisky and brandy.
This auction is expected to feature about 1,500 vintage Scotch whiskies, Japanese whiskies, and brandies.
High-priced items that are currently confirmed include Black Bowmore, White Bowmore, and The Balvenie 50 Year Old, all of which are difficult to come by. Products to be auctioned can be viewed on the pre-bidding website that will be sent to everyone who has registered to participate, and will be presented sequentially a few weeks before the auction.
Even those unable to attend the auction in person can rest assured that they will be able to place advance bids via the Internet. (Advance bids can be placed about one week prior to the auction day.)
The Advantages of Japan-based Auctions
The whiskies and brandies on sale have been appraised at the request of Japanese collectors, etc., and the auctions are run on the principles of safety, security and fairness.
In the first L-auction, also held in Tokyo, a bottle of Suntory Yamazaki 35 Year Old sold for 6.8 million yen (excluding tax), and a bottle of Hibiki 35 Year Old, also from Suntory, sold for 2.7 million yen.
Auction highlights include a lineup that could only be assembled in Japan, including a 100-bottle set of Suntory’s Yamazaki 12 Year Old. Coverage of the event by Japanese television networks reflects the continuing growth in popularity of whisky in Japan.
The price of Japanese whisky has soared in recent years, thanks to its high quality, shortages of unblended malt whisky, and end-of-sales announcements, but the increased attention has also led to problems, such as the distribution of counterfeits and uncertainties in market prices (speculation). As part of our efforts to eradicate counterfeiting and increase fairness and transparency in the market, we hold L-auctions in order to connect collectors with products that have passed our company’s appraisals.
One reason in particular for holding these liquor specialty auctions is the large number of overseas collectors.