Cheers to That: A look at the unique Louth based Irish Whiskey Auctions
Passion, philanthropy, and global growth in the world of spirits, how gift shopping led to a thriving local business
Dundalk based business Irish Whiskey Auctions, founded in 2018 by Anthony and Katie Sheehy, emerged from a personal passion for collecting after encountering difficulties in purchasing a unique whiskey gift.
This led them to create the world’s first Irish whiskey auction platform. Starting with just 156 lots in October 2018, the business expanded rapidly, encompassing a variety of spirits beyond whiskey. Originally projecting a modest growth, they surpassed expectations within months.
The boom in Irish whiskey worldwide has meant that businesses like Irish Whiskey Auctions have gone from strength to strength.
Celebrating their fifth anniversary last October, the company has seen many changes. Going from two staff members to nine this year, auctioning over 50,000 lots so far and gaining over 10,000 clients and rising- there is plenty of work to do and luckily their passion for the promotion of Irish whiskey stems from the fact that they and their staff are whiskey fans from the outset.
They have broken world records, selling the most expensive single bottle of Irish whiskey at €110,000, but they have also made sure that others have benefitted from their success, hosting charity lots in every monthly auction, which in 2023 alone raised close to €180,000 for various charities.
Their charity work is something that Irish Whiskey Auctions say they are extremely proud of. They work with big brands, distilleries and private donors to auction charity lots to the highest bidder.
These auction proceeds have benefitted charities such as The Maria Goretti Foundation, The Capuchin Homeless Charity, animal welfare charities, the Midleton flood relief effort by St. Vincent de Paul and the Lions Club.
The business provides the platform for these funds to be raised. They forward the full proceeds plus their 10% sales commission on top to the donors’ charity of choice, meaning the charity benefits to 110% of the sale price of the whiskey bottle.
Regarding their charity efforts, Anthony says, “Why wouldn’t we help out with charities? We have been lucky in our life and it is only right that we give back. It is a pity that more companies don’t do it.”
Handling bottles of whiskey worth tens of thousands of euros is not without its risks, too. It is important that all their team are fully trained on how to handle and assess each individual bottle before it is placed online for each monthly auction.
Each individual bottle is photographed many times for its showcase on the online auction catalogue, ensuring that the bidders know exactly what they are bidding on. In the region of 8,000 photos are now taken each month.
Their highly trained staff (who have themselves qualified in various whiskey education channels), make sure every bottle they handle is inspected thoroughly before auction, guaranteeing their clients’ peace of mind in a sector which occasionally throws up fraudulent rare whiskeys.
“Part of the key to our continued success has been our openness and transparency, clients know first and foremost that we are whiskey fans, but in our approach to the business, should there be an issue, then we are open and honest with our customers, this has built a level of trust paramount in building our brand,” said Anthony.
Irish whiskey is the fastest growing spirit in the world, with sales increasing by over 5% each year. The worldwide growth of Irish whiskey plus the ability for Irish whiskey producers to experiment with taste and their ingredients in their recipes or mash bills, has increased customer numbers, exploding worldwide and Irish Whiskey Auctions make sure they are best placed to take full advantage of these trends.
They have diversified in recent times with the creation of The Whiskey Hub (www.thewhiskeyhub.com), a complete whiskey solutions center that includes sister companies such as Irish Whiskey Experiences, Whiskey Brokerage, Whiskey Investment, Whiskey Storage, Whiskey Shipping Fulfillment.
Here are a few pointers Anthony gives to those of you considering getting involved in collecting whiskey for fun or as an investment:
Do your homework, there are a myriad of sources now to help you find plenty of information on that bottle or the brand that you are thinking of investing in or with. It is not hard to Google something but don’t just look at the first result, examine many different sources so that you are truly fully informed.
Examine all the photos or the individual items, make sure you know exactly what you are bidding on or buying. Ask questions if you are not sure. No genuine seller or auction house will mind answering questions or providing additional photos.
Bid carefully. Check previous sales prices of an item and set your boundaries and don’t go past them. Be clinical in your behaviour on an auction. Don’t chase another bidders’ folly.
There are many brands out there with an annual release, buy a bottle each year for your child or grandchild as an investment. Store it away and you will have significant value in 15 -18 years time. i.e. if you had bought a bottle of Midleton Very Rare every year from 1984-2018 it would have cost in the region of €3,500 in total over the 34 years, that set of 34 bottles would now sell for in excess of €85,000.
Don’t buy from non-specialist auction platforms or auction houses. Definitely don’t buy whiskey on social media platforms. As it is in all ways of life “if it is too good to be true then it probably is”.
Just because it is old does not mean it is valuable. Not every bottle of whiskey from the 1950’s is worth money , in fact most bottles are not. Age is just a number, that was never so true.
Irish Whiskey Auctions hold an online only auction every month. They last for nine days and attract tens of thousands of views on their website each week, reflecting their reach to clients all over the world.
Visit their website at www.irishwhiskeyauctions.com , email [email protected] if you would like to become a buyer or seller, or phone 01 5242142 to speak to one of their knowledgeable staff.