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Hanyu 1986 Ichiro’s Malt 'Card' #482 / Two of Hearts
Asset value
15.300 €
Issue price per Splint
50 €
Total number of Splints
306
Investment horizon in years
6 to 8
Return-to-Risk Assessment
8/10
Since launch July ‘25
+0.0%
Main reasons to invest
Return Potential📈: An investment of 500 EUR could reach an estimated value of 1,455 EUR in 8 years.
Cost-to-Return Ratio⚖️: With just 1.9 annual total costs (July / August releases with no exit fees), your net profit could be 14.3% per year.
Rare Opportunity with Price Advantage 💎: This bottle from the closed Hanyu distillery is one of the most sought-after collectibles in Japanese whisky history. With only 444 bottles worldwide, it’s exceptionally limited. Our purchase price of €13,300 is significantly below the current auction average of €17,900 and the lowest B2C offer of €24,800—a rare chance to access a historic asset at a highly attractive entry point.
Description
Investment Thesis 📝
Strong Return Opportunity Supported by Auction Data
This investment targets a 6–8 year holding period, leveraging robust historical auction data for rare Japanese whisky.
Balanced Scenario (CAGR 2025–2031):
→ €29,213 | CAGR: 14.3% p.a. (after fees)
Optimistic Scenario:
→ €59,475 | CAGR: 21.8% p.a. (after fees)
The expected net annual ROI is 14.3%, based on replicating 90% of the historical CAGR observed for the Hanyu 1986 “Two of Hearts” between April 2016 and May 2025. Risk-adjusted return analysis yields a Sharpe ratio of 0.97, supported by a volatility of just 14.1%.
Risk Profile and Volatility Benchmarking
Risk is modeled using 2× the volatility of the general Whisky Index, resulting in a conservative 14.1% standard deviation.
Value at Risk (VaR): 95% probability the asset will exceed initial capital (€18,400) after 6 years, offering strong downside protection.
Entry Price Attractive Compared to Market Value
The investment is based on an attractive purchase price of €13,300, while the average auction price over the past 12 months stands at €17,900. The current lowest retail price is €24,800, highlighting the significant discount of our entry point. The valuation is supported by 14 past auctions, 3 retail benchmarks, and 98 data points from the General Whisky Index.
Distinctive Features Enhancing Market Value
One of only 444 bottles ever released from the now-defunct Hanyu distillery, this rare whisky is a cornerstone of the globally coveted Ichiro’s Malt Card Series. Numbered and traceable, each bottle represents a slice of Japanese whisky history. Scarcity, cultural prestige, and high Asian demand make the “Two of Hearts” a true trophy asset.
Strong Return Opportunity Supported by Auction Data
This investment targets a 6–8 year holding period, leveraging robust historical auction data for rare Japanese whisky.
Balanced Scenario (CAGR 2025–2031):
→ €29,213 | CAGR: 14.3% p.a. (after fees)
Optimistic Scenario:
→ €59,475 | CAGR: 21.8% p.a. (after fees)
The expected net annual ROI is 14.3%, based on replicating 90% of the historical CAGR observed for the Hanyu 1986 “Two of Hearts” between April 2016 and May 2025. Risk-adjusted return analysis yields a Sharpe ratio of 0.97, supported by a volatility of just 14.1%.
Risk Profile and Volatility Benchmarking
Risk is modeled using 2× the volatility of the general Whisky Index, resulting in a conservative 14.1% standard deviation.
Value at Risk (VaR): 95% probability the asset will exceed initial capital (€18,400) after 6 years, offering strong downside protection.
Entry Price Attractive Compared to Market Value
The investment is based on an attractive purchase price of €13,300, while the average auction price over the past 12 months stands at €17,900. The current lowest retail price is €24,800, highlighting the significant discount of our entry point. The valuation is supported by 14 past auctions, 3 retail benchmarks, and 98 data points from the General Whisky Index.
Distinctive Features Enhancing Market Value
One of only 444 bottles ever released from the now-defunct Hanyu distillery, this rare whisky is a cornerstone of the globally coveted Ichiro’s Malt Card Series. Numbered and traceable, each bottle represents a slice of Japanese whisky history. Scarcity, cultural prestige, and high Asian demand make the “Two of Hearts” a true trophy asset.
Exit Options at Maturity 🚪
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.
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? 🎨
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.
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? 💎
The Hanyu 1986 “Two of Hearts” is part of Ichiro’s Malt Card Series—an iconic 58-bottle collection that defines collectible Japanese whisky. Each bottle is marked by rarity, number, and cask story. This one was matured in a Pedro Ximénez sherry cask, noted for dark fruit, chocolate, spice, and velvety finish.
Only 444 bottles were ever made. Even fewer remain sealed. Produced during the final years of the Hanyu distillery and guided by Isouji Akuto’s legacy, these whiskies are seen as liquid heirlooms.
The most recent auction price reached €15,053 (fees incl.). This investment is priced at a slight 1.6% discount—an appealing entry for such a rare and culturally significant bottle. Backed by 14 auction records and 98 index data points, it enjoys strong demand across Japan, Taiwan, and Europe.
Whether collected as liquid art or future heirloom, the “Two of Hearts” bottle holds both emotional and financial significance—rooted in legacy, excellence, and extreme scarcity.
The Hanyu 1986 “Two of Hearts” is part of Ichiro’s Malt Card Series—an iconic 58-bottle collection that defines collectible Japanese whisky. Each bottle is marked by rarity, number, and cask story. This one was matured in a Pedro Ximénez sherry cask, noted for dark fruit, chocolate, spice, and velvety finish.
Only 444 bottles were ever made. Even fewer remain sealed. Produced during the final years of the Hanyu distillery and guided by Isouji Akuto’s legacy, these whiskies are seen as liquid heirlooms.
The most recent auction price reached €15,053 (fees incl.). This investment is priced at a slight 1.6% discount—an appealing entry for such a rare and culturally significant bottle. Backed by 14 auction records and 98 index data points, it enjoys strong demand across Japan, Taiwan, and Europe.
Whether collected as liquid art or future heirloom, the “Two of Hearts” bottle holds both emotional and financial significance—rooted in legacy, excellence, and extreme scarcity.
Conclusion 🎯
With extreme scarcity, a deep collector base, and sealed provenance from Japan’s golden era of whisky, the Hanyu “Two of Hearts” is as close as it gets to liquid art. A 14.3% projected return and sub-2% discount make this a rare convergence of emotional and financial value.
With extreme scarcity, a deep collector base, and sealed provenance from Japan’s golden era of whisky, the Hanyu “Two of Hearts” is as close as it gets to liquid art. A 14.3% projected return and sub-2% discount make this a rare convergence of emotional and financial value.
Expert
Spiritory
Spiritory is an exchange-based live marketplace for whisky and spirits enthusiasts and collectors. The online platform enables users to trade coveted spirits in the simplest, most transparent and secure way possible.
Additional details
Asset ID
1c99c427-8ee6-405e-9496-a667fbbaf318
Publisher
Hanyu
Bottle name
Hanyu 1986 Two Of Hearts Cask Nr.482
Origin
Japan
Cask
Madeira Hogshead Finish
ABV
56.3%
Bottle size
700ml
