Clynelish 23 YO 1966 Cadenhead Sestante Import

Investment Thesis 📝
 

Metric	Value
Investment Horizon	2031–2033 (≈8 Years)
Expected CAGR (Balanced)	12.9% p.a. after fees
Optimistic CAGR	17.2% p.a. after fees
Entry Discount	≈25% below Sep‑2023 auction; ~10% below market (post fees)
Sharpe Ratio	0.79 (vs. SMI: 0.61)
Value at Risk (VaR)	95% chance to exceed €20,900 (8 yrs)
Standard Deviation	16.4%
Risk Rating	A (8.8/10 – Low to Moderate Risk)

• 8‑Year Horizon: Built on robust auction data and the Clynelish Whisky Index, allowing a full market cycle and release cadence to play out.
• 12.9% CAGR (Balanced): Based on 70% of the index’s observed return (2016–2022), translating historic momentum into conservative forward assumptions.
• 17.2% CAGR (Optimistic): Upside reflects continued collector demand and scarcity for Clynelish bottlings tracked by the index.
• Compelling Entry: Offer sits ≈25% below the last auction (Sep‑2023) and ~10% under current market value after fees—embedded margin of safety.
• Sharpe 0.79: Strong risk‑adjusted profile, exceeding the Swiss Market Index’s five‑year Sharpe (0.61).
• VaR 95%: Model indicates a high probability of value > €20,900 after 8 years, supporting downside protection.
• Low Volatility (16.4%): A‑tier stability vs. collectibles, aided by diversified index inputs and deep secondary‑market data.
• Risk Rating “A”: Aggregate score driven by excellent VaR, low st.dev., attractive entry, and solid track record across 10 auctions + 127 index points.

Exit Options at Maturity 🚪

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We will manage the exit strategy on behalf of our investors. Depending on the market at maturity, the bottle will be sold to a private collector or offered at whisky auction. Auctions are favored when bidding demand is high and the minimum price matches market value. All options are evaluated to ensure optimal exit value.

Why Invest in This Category? 🎨

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Rare whisky has outperformed all other luxury collectibles over the past decade, with over 384% growth in the last 12 years. It is uncorrelated with equities, making it a compelling hedge during stock market downturns—while steadily increasing in value over time.

Why Invest in This Asset? 💎

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The Clynelish 23 Year Old 1966 Cadenhead Sestante Import is a whisky of exceptional rarity and prestige, representing a golden era of Highland distillation. Produced by Ainslie & Heilbron (Distillers) Ltd. and distilled in 1966, this single malt hails from the revered Clynelish distillery, a name synonymous with waxy, complex, and maritime-influenced whisky profiles cherished by connoisseurs worldwide. In 1989, the spirit was carefully selected and bottled by William Cadenhead—Scotland’s oldest independent bottler—exclusively for Nidaba in Montebelluna, Italy, and imported by the legendary Sestante Import s.r.l., a distributor famed for introducing some of the most collectible and distinguished whiskies to discerning European drinkers.

This particular release is one of just 90 bottles ever produced, a number so small that it has propelled the expression into the upper echelons of whisky collecting. Over the decades, many of these bottles have been opened and enjoyed, further diminishing the number of intact examples in existence today. The bottle’s foxed labelling and high fill level into the neck attest to its authenticity and impeccable preservation, offering reassurance to serious collectors.

Prestige is further reinforced by its specifications: bottled at 51.7% ABV, it captures the distillery’s hallmark intensity and depth, delivering a true time capsule of mid-20th-century Clynelish character. Its scarcity, combined with the reputation of both the distillery and its bottler, makes it not only a treasure for collectors but also a piece of whisky history. Opportunities to acquire such a bottle—especially at favourable terms compared to recent auction prices—are exceedingly rare and highly coveted.

Conclusion 🎯

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With its unparalleled rarity, pristine provenance, and entry price well below recent auction results, the Clynelish 23 Year Old 1966 offers both historical significance and financial upside. Combining low volatility, strong downside protection, and enduring collector demand, it stands as a blue-chip whisky investment for the long term.