[MM-MALTS-L] buying a cask

[john marrinan]

I have "signed up" for a one tenth share in one of these barrels. I am not
doing it as an investment or anything, but it will keep me interested. I
have shares in a few Bladnoch barrels too, a bourbon one and some wine ones.
Who knows how they'll turn out...

On Thu, Nov 5, 2009 at 8:52 PM, Ron Smith <ron at nooranismith.co.uk> wrote:

>  Hi all
>
>
>
> Yes I know it's a subject that keeps turning up, but i wondered what the
> latest advice on buying a cask of whisky is these days. i know a few years
> back there were a lot of rip offs on the go, but has that all settled down
> now? i ask as a friend has the oppo to buy into some cask(s) from
> Bunnahabhain (a favourite) but is understandably leery. Opinions? A copy of
> the proposal below:
>
>
>
> "This information is to help those people who have expressed an interest
> in either a share or a tenth share of a cask of Margadale which is the
> name given to a peated malt distilled at Bunnnahabbain Distillery.
> Distilled in Jan 2005 using peated malt, it's similiar in
> characteristics to Bunnahabbain Moine.
> The casks I've bought have still to be delivered down to Bladnoch to be
> gauged to check that there has been no leakage and that evaporation
> levels are "average" The casks can be warehoused or moved elsewhere if
> the buyer prefers, other members prefer to purchase just a tenth share.
> Some of you have asked for an entire cask, many have indicated that they
> would like the whisky to be transferred into a sherry hogshead. Can I
> say that I will be willing to try to accomadate most requirements but in
> the first instance right now I am selling the casks or shares on the
> basis of which I am acquiring them which is in barrels, probably refill.
> I anticipate that each cask will have been filled originally with
> between 190 and 200 litres of alcohol at a filling strength of 63.5% and
> that evaporation will not have exceeded 2% per annum over 5 years, ie
> 10% which should leave approximately 90% of the original litres of
> alcohol remaining. Barrels do vary slightly in size.
> The casks will be re-guaged within the next couple of weeks and the
> contents shall be stated on your Cask Purchase Agreement. If any cask
> contains less than 195 bulk litres times 63.5% times 0.9 which is 111.4
> litres of alcohol (allowing for five years evaporation)the buyer will
> have the opportunity to obtain a full refund or if he/she prefers, a
> pro-rata refund for any discrepancy. The price of a cask will be £1250
> and a one tenth share slightly more to reflect extra paperwork £135.
> Warehouse Rent/Insurance is NOT INCLUDED but must be payable in addition
> to Bladnoch Distillery at the current rate from the date when the casks
> become 5 years old (which I think is the 10th of January 2010.) It will
> be payable annually in advance or on demand, the annual rate for 2010
> will be £10.40 (20 pence per week)
> For those of you who are interested in purchasing a one tenth share of a
> cask, the agreement will stipulate that it should be bottled when it has
> matured for a total of ten years or if otherwise, provided written
> agreement has been reached by all the cask owners.
>
> IMPORTANT Please Note. Having considered the level of interest I have
> purchased 8 casks from the broker who has given me an option until
> Friday for another four casks which I am certain to take up."
>
>
>
>
>
> Thanks
>
> Ron
>
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