I'll agree that some Macallans has good investment potential, but their volume of new releases makes determining which will appreciate so much more daunting - unless you're happy to eat the cost and drink the whisky if it doesn't appreciate in price. For me - taste trumps potential investment, I just want whisky that tastes great to my palate. Unfortunately, I feel that Macallan has focused on brand over flavour for the last several years, and the juice just isn't as good as it could be. The BS "Colour" series still slays me, only the Ruby was even palatable.
The old Brora whiskies are in a class of their own for investment, but they were also in a class of their own for flavour. I finished my one and only Brora bottle (2005 30 Yr) about 6 months ago, I still mourn not having anymore, just an incredible dram. I wish people would stop flipping them for ever higher prices and just drink them. Port Ellen and Rosebank are great drams too, but don't seem to capture quite the same prices. As the new spirit comes out, they will start going even higher too but I think Brora will always beat them for price. I also love to drink PE and Rosebank, I've just finished my only Rosebank (Flora Fauna 12 yr) and it was a masterclass in subtlety with floral sweetness + depth, and my last PE Bottle will get opened at some point too.
Don't get me started on Ardbeg. I love a lot of the mid-late 00's bottles, but so many of the recent releases have been pedestrian and overpriced, and for investment even more difficult to determine which will appreciate in value. How many guys are out there sitting on a bunch of Auriverdes, Perpetuums and Drums and wondering WTF went wrong? For me, it doesn't get better than the old 10 yr (pre-2007), I've stocked up on it when it could still be found for 40-50 Quid.
Old Talisker I could see appreciating substantially, but not Bunnahabhain - it has never really caught the investors eye in the same way, it has just been somewhat pedestrian for so long. Comparing Feis Bottle prices between the Bunnas and the Lagavulins/Octomores will show you where the investors are going. It's just not great whisky, but that's this man's opinion LOL.
My Investment hedge for whisky (if I was investing and not buying to drink as I am now) would be 90s/early 00's Springbank, and the Port Charlotte PC series. SB is already shooting right up in price for the secondary market (my favorite dram, and one that NEVER disappoints - thank God the distillery/company still charges a reasonable price and it's only resale that is crazy), and the PC series i think is criminally underrated.
The investment craze for whisky is coming to a reckoning soon, I think. The failed Diageo Game of Thrones releases are ample example of that. Again - buy what you like to drink, for the most part the only people making big money on these auctions are the auction house owners, who sell the same bottle multiple times and rake in the commission each time. I love peated Benriach, and unless you're going into the 70's bottles, it doesn't appreciate in value (in fact some of their Authenticus 21-25 yr bottles I got an auction for less than the initial prices in stores)........but it's a bloody great peated dram. I've got nearly a case of the Benriach Solstice bottles from auctions over the last several years, and it's still going for less than 100 Quid at auction. I'm okay that it doesn't appreciate in value, because I'm gonna drink every last bottle I have of it.
Remember, it's made to drink!