Business of Beverages

A Singular Opportunity - The rarest Whisky auction of all is run by Beanie Gearedts-Espey

May 08, 2023 Season 1 Episode 55
Business of Beverages
A Singular Opportunity - The rarest Whisky auction of all is run by Beanie Gearedts-Espey
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Show Notes Transcript

In this episode you'll learn why the Worshipful Company of Distillers took over 350 years to cotton on to the idea of auctioning off truly unique Whiskies to raise funds for their charity endeavours and how it's making up for lost time with an event of global significance.

The wonderful Beanie Geraedts-Espey is the person charged with running the biggest Scotch Whisky auction in the world. A charity fundraiser where every single lot has been created as a once off for the "Distillers One of One" event. Million dollar plus lots are expected as the donating distilleries offer prestige bottles that can never be purchased again. All for teh benefit of some brilliant drinks industry charities.

Plus Foxy recounts his limited experience with both Sherry and podcast statistics...


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Business of Beverages is self-funded and hosted/ edited/produced by Will Keating.
Pádraig Fox co-hosts in a strictly personal capacity.
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fungalboy
Hello Beny. It's great to talk to you again. Ah now the last time we had a conversation. It was well over a year ago and you had a completely different role so you've had quite a change in. Ah. Career maybe might be a bit of an exaggeration but you certainly had a big change. You're now the managing director of distilldistillersventures I don't understand what that is it sounds very Important. Can you explain to me a little bit of what you do and and um, why.

12:38.98
Beanie
Um.

12:44.50
Beanie
Yes, it took me a while to get my head around it all too as well. Um, yes, absolutely so distillers ventures is the fundraising arm of something called the distillers charity. The distillers charity is in turn the charitable arm of. Um, a three hundred and fifty year old London Livery Company called the worshipful company of distillers. So um, there are lots of London livery companies some are more famous than others but we are three hundred and fifty years old um and charity has always been in a very important part of livery life. Um, you know, historically it was about raising up and educating young trainees. Um and mentoring and there's still an element of that today. Um, but obviously principally. Our charitable endeavors are looking towards um transforming the lives of young people in the communities in which we live and work. Um, so London of course as a London -based livey company but also across the country across the nation and of course scotch whiskey um is a huge part of the distilled spirits community here in the united kingdom a big part of our membership comes from the scottish distilling community. So of course um, giving back to the young people in scotland is also a core principle of what we do? Um, so distillus ventures as I said is the fundraising arm. So I'm not so much involved with the grant making and actually how the money is dispersed. Although of course I take a keen interest in that but I'm principally here to raise money and um, we do that our main.

14:12.16
Beanie
Ah, fundraising task is managing and organizing a biennial auction called the 1 of one auction which is today already only in its second year the largest ever charity auction of scotch whiskey. So it's um, it's a very exciting project I joined almost a year ago.

14:20.66
fungalboy
Um, oh.

14:31.54
Beanie
And the next auction will be in October Twenty Twenty three so not long now five months to go.

14:34.74
fungalboy
So We'll get into the the Nitty-g gritty the auction because I I know that it's a very prestigious and extremely interesting event and and for for wonderful causes that we will detail in a minute but just to understand how is it that you can arrive. Into a role like that. What what prepares you for for something that that really has so many different facets to it.

15:00.76
Beanie
Well, it's a good question I have to say I mean in all honesty, it's a bit of a dream come true. Um, because my my sort of experience working in the world of scotch whiskey and a particular luxury scotch whiskey began. Um. In 2014 when I took over running a business called the last drop to stillers together with a lady called Rebecca Jago who I believe has been on your podcast before um, Rebecca and ah, Rebecca's father Tom and my father James had co-founded this business having pursued a career of well over thirty 40 years in scotch whiskey.

15:20.35
fungalboy
Indeed.

15:33.14
Beanie
And candidly back in 2014 Rebecca and I didn't know a great deal about scotch whiskey. We both knew a lot about marketing and packaging and operations but actually scotch was relatively new to us. Albeit we'd sort of grown up surrounded by it. But our fathers were getting on ah Tom in particular was already in his ninety s and so we basically took over running of the the running of the entity. Which was a very steep learning curve. But I think there was a latent interest in scotch and in a passion for for Scotland which my father passed on to me and likewise Tom had passed on to Rebecca um, and so sort of all began there and the last drop um is really ah, a sort of purveyor of very fine rare remarkable whiskeys. The sort of rare remarkable whiskey space is a space I now know very well. Um, and but my background is sort of marketing more generally, um and then so so this Rob was very exciting to me because it was essentially an auction obviously of of incredibly exciting unique pieces of whiskey. You know lots of whiskey. Um, but it also brings together the sort of you know the marketing the creative the event management the branding all that sort of piece which is which is something I've done for years and and thoroughly enjoy. But I think crucially what drew me to the role was actually that third component which is the philanthropy. Um, you know I I think that I haven't been in a sort of.

16:47.57
Beanie
Strictly corporate role for some years but I think you know had I stayed in a more kind of corporate role I definitely would have gravitated towards something relating to corporate Comms and Csr and that was definitely an interest area for me that just one way or another I hadn't managed to pursue so when this sort of role came together. You know marketing. But let rare whiskey and charity I just thought this is a sweet spot how exciting. so yeah so I was I was offered the role last June and began in July so not quite a year but goodness me, it's been a very very busy period since since I took over the auction has changed and evolved significantly in a short space of time. So it's um. Busy project but it's it's great. Fun.

17:25.45
fungalboy
And it's not quite an annual event is it because there's only been one event so far and that was it back in 2021

17:33.64
Beanie
That's right, yeah, the event. The first ed was in December Twenty Twenty one um it's worth saying that the distillers charity had organized auctions in the past but they won a very different scale. It was really auctions of whiskey for our community. It was on a much smaller basis and the the sort of step change came when we involved. Um, sothebyes and asked them to sort of brainstorm where we could go with this and arrived at this concept of the one of 1 so as the name suggests every single lot is an individual piece. There will never be another one like it. It is completely unrepeatable. Um, and that's what sort of elevated the auction from being something that actually was only really kind of appealing or talking to a relatively small audience to something that suddenly had appeal and attraction to really the global community of of collectors. So the first one of 1 was held in December Twenty Twenty one and I actually frequently get asked why it's not an annual event. And the simple. The simple answer is that it takes our donors eighteen months at least to determine what they're going to offer and then develop you know, not just the whiskey which may need evolution treatment finishing but also the packaging. Um, and as Johnny foul our our auction head at southby's sort of said you know and. It really is where art and whiskey coalesce is ah, an incredible of investment of time energy and craft that goes into making these individual pieces. So eighteen months is the minimum timeline really? Um, and as I said at the beginning the the next auction will be in October Twenty Twenty three

18:51.82
Foxy
Um, and.

19:00.87
Beanie
Um, and I think we can expect it'll fall in October henceforth that's that's the new kind of date that we've enshrined for the auction which which sits really nicely in the sort of calendar. Um for for scotch whiskey and for and for auctions in general.

19:10.96
Foxy
And with some of that in mind the the fact it takes so long to get something like really amazing to the table for the auction. Um it for the the donor. It's quite a niche thing for them to do like.. There's not a normally when a new thing is launched. It's a big plate. There's a big marketing Campaign. It's like. Little bit about volume but this is the extreme opposite of that.

19:32.78
Beanie
You're right? It is and I think it's you know it's fair to say that the donors come to this with very different motivations. You know for some. It's all about the charity. It's all about philanthropy. It's all about giving back to the community and that's what drives them to commit the time and energy. For others. It's also a very powerful platform I mean it's still underpinned by the desire to do something for the community. But there's also the recognition that actually if you can develop something and auction it in sort of rather glorious surroundings in very good company in terms of your whiskey peers. It's also a fantastic opportunity to get your brand out there and to position it amongst the kind of collector base as something worth paying attention to so the donors come at it with different perspectives. Um all of which are are equally valid. Um, and what makes it really exciting. You know we've got one very young distillery that's planning to release their first ever bottle of whiskey at the one of one. So. You know and others are obviously bringing out some of the oldest whissies they've ever had. So. It's quite a spread in terms of what's on offer and in terms of the price points that will that they will inevitably fetch but the kind of uniting factor is that they are all really extraordinary in very very special pieces regardless of the final sales price.

20:35.75
Foxy
So on on final sales price and it it it does it does happen to be my birthday in October how much money does how much money does will need to set aside now to get one of these bottles for me.

20:47.40
Beanie
And what it's a good question. Um last year the ham price which is the price that actually you know went on the day at auction when the hammer came down. Ah, ranged from anywhere between £5000 to eight hundred and thirty thousand pounds for an individual lot. So. There's quite a spread and um, again, it's testament to the fact that um, we actually have managed to elicit support from. Um. From donors of all shapes and sizes from across the length and breadth of scotland which is really lovely I mean it's it's a really uniting cause um, as as one of my team members jonathan driver former past master of um of the worshipful company said you know it's it's a truly collective endeavor. Everyone's coming together with different um with different concepts. But. What's interesting is that nearly all of them achieved a sort of record price for their individual distillery. So you know of course the totals are important. The big numbers are what catches, people's attention and gets us the press the press but actually from my from my point of view you know success is actually what does each individual lot get on the day. And what does that mean for the charity but also what does it mean for the donor and and how do we bring that all together. So it's um, yeah, it's a lovely project.

21:55.59
fungalboy
So can we just repeat those numbers again. Just so that people I get the kind of scale that we're talking about. So you said they range from so to give us the low number again and this is for an individual bottle correct.

22:00.99
Foxy
Um, just says.

22:08.28
Beanie
You yes, that's right? So an individual bottle um could start at around four or five thousand pounds at auction which as I said for a smaller or less known disillery would.

22:19.23
fungalboy
Um.

22:22.30
fungalboy
You know it's absolutely.

22:22.17
Beanie
Probably constitute a record for them. That's a lot of money by anybody standards. But the best selling lots last year and 2021 was a collection of 4 bottles that were from the 1950 s and they collectively together. Ah fetched eight hundred and thirty thousand pounds at hammer. Yeah, so.

22:41.97
fungalboy
Ah, okay.

22:42.16
Beanie
Was quite something I sadly wasn't there but I hear it was you know there were sort of tears being Wept I mean it was It was a really big momentous occasion as you can well imagine.

22:49.23
Foxy
And we saw a lot over the last couple of years of secondary reselling of ah, kind of coveted whiskeies. Do do you put in any clauses that obviously the the money's going to charity which is great but is there anything that then stops.

22:51.10
fungalboy
Um.

23:03.71
Beanie
Um, in.

23:04.18
Foxy
You know if it is 1 individual or a syndicate of individuals that have spent this eight hundred and thirty thousand pounds for them to then resell that at either another auction afterwards or what I saw 1 particularly endeavorous company do is split it into smaller bottles and sell us for a couple of hundred to a couple of thousand per mini.

23:19.45
Beanie
Ah, many thing. Well um so that on your second point the likelihood of 1 of these being split into smaller bottles is very very low because this is a combination of unique liquid and unique presentation in every case so that it's really a.

23:23.67
Foxy
30 c l model.

23:37.84
Beanie
A a lot that comes together both the liquid and the presentation and in fact, this year we've introduced a a hallmark that will be introduced onto the packaging and'll run onto the bottle somewhere that really again helps to sort of enshrine that this is a this should not be broken down. It is a what is a one off piece. Um. Candidly since 2021 I'm not aware of anything ending ending up back on the resale market. Um, it's not something that we directly manage you know we're obviously the organizing committee for the auction but actually the auction itself is run by sotheby's who retain um control over buyer information. You know, not leastable for gdpr reasons. So. I don't have a detailed insight of exactly what each buyer has then gone on to do with their lot. Um, but what I can say is that obviously together with our partner sotherbes. You know we're we're we're inviting a very kind of serious discerning collecting crowd of people to come and be at the auction and I think that most of them I don't want to speak out of turn because like. Can't possibly mitigate what other people might do. But I think I think most of them come with the right sort of you know, approach and mentality visa the resale of course you know these some of these objects will end up on the secondary market. But I don't think it'll be for some time yet. Um, and that's obviously not what drives us as as the organizing committee for the auction. That's not That's not something we spend too much time dwelling on.

24:50.92
fungalboy
And can I ask then? so who spends this kind of money on a bottle of whiskey. Do you have any concept of who the profile of of your customers ultimately are.

24:57.58
Beanie
Um.

25:05.80
Beanie
Ah yes I do um first of all, they're very much global which is probably not a surprise that one of the reasons that the auction is held at lunchtime rather than being a sort of big gala evening is in order to attract buyers from all over the world. You know we obviously hope that many of them will make the effort to come to Scotland and I think it'll be well worth it if they do, um, you know scottish hospitality is is glorious as you'll as you'll know. Um, but actually a lot of them will dial in um livestream from the far east or from North America anywhere else for that matter. So. Yeah, hosting at lunchtime is ah is ah is a key factor in enabling us to invite participants from all over the world. Um, it's an interesting one I think the 2021 auction being the first of its kind, um, attracted a more kind of classic quote unquote whiskey collector. Um, you know some of the bigger lots went to buyers who have bought lots from that particular brand before who are very invested in that brand and who want you know everything that brand brings out and if it's a 1 of 1 well so much the better because it usually isn't um, some of the sort of more lower priced. Lots. Went to you know people who just really wanted to get involved. You know the price point is is a lot of money. Don't get me wrong, but it's not totally and inaccessible. Um, so you know a lot of bidders were also kind of people who just wanted to get involved who were excited by the charitable dimension I should say that actually although most of the lots are bottles.

26:28.63
Beanie
We do also invite donations of casks. So um, a handful of distilleries. Especially younger distilleries or newer distilleries have actually put casks into the auction which are by definition ones of one because each cask is a unique piece. Um, so again that attracts a slightly different buyer. I think what's interesting and it's you know it's it's early to say because we haven't yet sort of you know begun to determine exactly who's going to be physically attending the auction in October it still is still some way off in auction terms. Um, but it's certainly attracting a broader base of collectors this time around I think because of the fact that these are one off pieces. There's an implicit Collectibility and a beauty and a sort of rare rarity. Obviously that means the appeal is now broader. Um, and we're finding that you know there's interest coming from people who actually routinely spend lots of money on art or watches or cars. Um, and it's not just the whiskey collector base that's coming to the table. Um. You know, obviously one of the reasons we're working with Otherbys is that they are a leader in their field. They've got astonishing lists of clients some of whom are very very high transacting clients and who spend a lot of money at auction every year so they you know they have more intelligence on this than I do but anecdotally. It does have this broader appeal which is really interesting and we're doing a series of pre-auuction tastings with sobees. We did one in New York last year we've got one in the far east coming up and another one in North America and yeah the profile of attendees of those events is is is really varied actually in it. That's super exciting.

27:59.33
fungalboy
And when you when you're planning for what's happening in the room on the day as you said it's it's it's very much an event that I believe it's being held in ah what looks to be a fantastic historic venue in in Scotland. Ah, how are you planning for the people who will intend on the day and presumably you know like like the movies the guys on the phone you know dialing in from you know around the world like is there is there ah is there a luncheon is there a tasting is there. Do people get to.

28:23.59
Beanie
How we planning for that in what in what sense you see.

28:33.58
fungalboy
Hold the um you know £200000 bottle in their hand look it over. Make sure that it's you know exactly what they want you know? um I presume they can't touch it taste it.

28:34.55
Beanie
She says you.

28:34.81
Foxy
Right now. What.

28:41.62
Beanie
Ah, in a manner of speaking yes I think you're right? Um, again, you know I'm relativelyntably new to the auction world and I've I've sold rare whiskey for some years but auction is a new sort of medium for me. Um, and I understand that you know to get. Highest bids. It's actually imperative that people get to see feel touch and taste the liquid I mean it is that's of paramount importance. So um, the lots were on display or certainly some of the lots were on display and 2021 this year it's our ambition that every single lot will be on display. Obviously a donor putting in the cask is going to have think creatively about what they're going to bring but the principle is that every single donor will be represented and as you mentioned the venue is of a venue called Hopeton House it's an absolutelypt glorious sort of regency style palace on the outskirts of Edinburgh has the largest ballroom in Scotland it also has a suite of. Spectacular state rooms. So um, all the lots will be displayed in the staterooms before the auction. There'll be a cocktail reception buyers will and obviously our donors will be invited to basically browse the galleries and look at the lots which will all be displayed in great style. Um, and. Yeah I mean we're still managing this because obviously you know with rare rare liquid. It's not as if we can sample to every single person who rocks up that would be unrealistic and and not appropriate but you know where specific buyers have expressed very clear interest in specific. Lots. There will be some tasting liquid available. Um.

30:07.74
Beanie
And then we'll move from the staterooms into essentially this enormously beautiful ballroom where the auction will be held so there'll be the opportunity to interact with the lots with the donors beforehand and then the auction will take place as I said over lunch um in in great style. We hope that's the plan anyway.

30:23.26
Foxy
So have you ever looked at any of these lots and regards of what price it goes for and kind of really wished you had it yourself one of those ones that you could have kept.

30:33.54
Beanie
frequently frequently I mean it's interesting because the 2021 lots I know I sit and I flick through the catalog and think gosh wow that's amazing. Um, this year we you know we're not at liberty to release the details of the 2023 lots yet. They're actually um, under embargo until ah June. Um, but obviously the donors have been sharing with me as you can imagine and I touched on this before an eighteen month development time. There's an awful lot of to and fro you know and not just with me but also with the southerby team. You know what's actually going to deliver the best result for our brand but also for the charity. So I'm very you know I'm very involved and very invested in each of these individual lots. Um, and there are some absolute knockouts coming along again I think it's interesting. The 1 of 1 concept launched in 2021 and people really got to understand it it in many ways. It was a sort of proof of concept and now everyone's coming back. Having invested much more time energy resource creativity. And I think one of the things that's lovely about this is it's a celebration also of craft you know most of the work's being done by local scottish artisans there's a real community feel to this. Um, we hosted our first impact report and I know impact is something we'll come on to in March and invited all of our charities to come and. And learn more about the lots and and and for the donors to learn more about the charities so that kind of community aspect is really lovely and so yes in answer to your question because I got slightly sidetracked there I'm very excited by the lots. Um, but I'm also just excited about you know as I said how how it's bringing all these different people together and.

31:49.62
Foxy
I guess.

31:58.50
Beanie
Who knows I might yet be bidding but I think given the profile of bidders. We've got lined up I'm almost certainly going to be outbid on on almost everything.

32:05.70
fungalboy
I Wonder if there's a you know a certainly I've been to only a few auctions but there there is a trepidation when you stick your hand up and you bid and there's almost certainly in in my part. There's been a part of me that wants to be outbid immediately. So I could say ah at least I tried ah ah.

32:20.36
Beanie
Leasta try yeah, you're right? Actually that's certainly true. Um, and that's something that I've got to think about because I think there's a lot of people who you know who may not who may not be able to you know bid on something on the night for whatever reason I'll get outbid and.

32:21.46
Foxy
Um.

32:34.78
Beanie
You know I'm thinking about a mechanic of you know how do we get people involved more involved in the charity. You know some people are there. They're driven by philanthropy you know? Yes of course going home with a lot is important. But I think one of the reasons we're also trying to raise the profile of the charity is to invite people to also just give directly to the work that we're doing if they don't manage to secure a lot on the night but ah, sufficiently motivated by the cause so that's something that we know we're looking to develop and explore a bit more for 2023.

32:59.81
fungalboy
Ah, and on that. So what do you spend the money on.

33:02.50
Beanie
Well, um I mentioned earlier on that the sort of focus of the charitable giving of the of the worshipful company and of the doillailla's charity is on young people and really transforming young people's lives. So in particular, we we look at employment and employability. How likely is it that these people could actually you know find themselves. Ah, employed well and living comfortably and in many cases. It's not that likely. Um, they're suffering from you know hardship at home obviously covid and the pandemic has has really interrupted. People's schooling and left people with you know, even fewer. Chances than they had before um so and Scotland in fact has a sort of bedrock of 30000 young people who are currently unemployed and who for whom the path to employability is a bit bleak. Um, so our our charitable giving in general focuses on on transforming young people's lives. But as I touched on the beginning. Um, because this is an auction of scotch whiskey in Scotland um, actually 90% of the proceeds of the auction will flow directly into a scottish program which is called the youth action fund um so the youth action fund received you know well over two million pounds as a result of the 2021 auction and the youth action fund is all about um you know, improving employability outcomes for young people in Scotland um, to do that. You know we are principally. You know we're a charity and we're a relatively small team so we've actually um, we are working directly with.

34:32.99
Beanie
An organization called inspiring Scotland who are experts in their field so they actually manage the fund for us. They curate the charities that are our ultimate beneficiaries. They help coordinate between them. What's lovely about what we've done as an organization is that we've created um a fund that um, sort of it. Can't guarantee but assuming we we host at least 3 auctions which is certainly the plan I mean I hope this will run and run. But the very least will we'll host 3 auctions. We've put in place a six year commitment of funds which is practically unheard of you know, most charities have to you know, look at funding again every year they're having to pitch for more monies every year puts them in a very precarious situation. So there are beneficiaries benefit not just from the funding of course. But also the security of knowing that over a 6 ix-year period. We will be plowing money into them to run these programs and help young people achieve lasting employment so inspiring Scotland curates the charities. We've got 6 complementary charities. Who all do similar but slightly different things in different parts of Scotland 1 of our charities focuses specifically on people with with disabilities or you know, physical challenges. Um, others really use the medium of sports as it one up to run charity called street league that really focuses on getting people motivated and reengaged through sport. They've all got a slightly different function and purpose but they come together in a very complementary way to ensure that we've got kind of national coverage and if a young person approaches. 1 of our charity partners and actually it's determined that perhaps they'd be better off with another one.

36:00.64
Beanie
Because they're all working together because they're not fighting for funding because it's actually a sort of integrated cohort of donor of charities. You know we've created this lovely kind of fluid involvement between all of them which is which is wonderful. So we're able to provide a really rounded offering and I think what's particularly unique about what we're doing. There are sort of 2 facets to that. Besides the long-term nature of the giving which I've really touched on. Um there's also the fact that we give 100 % of our proceeds to charity. So whatever is bid on the night of the auction whether it's a million or 2000000 or 3000000 or 4000000 you know that all of that money. Will end up going to our charity beneficiaries and that's really quite extraordinary and and as ah as far as I'm aware almost unique I don't think there are many charity auctions that are able to give 100% I mean we all aspire to give as much as they can but invariably There's an operating cost that gets in the way of that of doing that and so we've made this commitment. To give 100% to charity which is which is huge um and and and you know not to get sidetracked. But I think yeah I also therefore work with a team of sponsors and also look with donors to make a financial contribution so that we can actually run the auction without having to dip into that that those hammer proceeds which is which is really special and as I said I think i'm. But is something pretty unique.

37:17.58
Foxy
That that is really quite wonderful. Um, the the driving force behind all that like that that is a genuinely amazing story and we probably don't hear enough of those kind of stories in in the beverage industry unfortunately and but on ah on a kind of wide or not, you've worked in in whisy for quite a long time but you're also like a a very passionate Sherry fan.

37:34.79
Beanie
Fits.

37:34.94
Foxy
Ah, have did do you have any ambitions to to maybe take this a little bit wider outside of Scotland outside of the the world of of whiskey and into kind of more spurts more locations.

37:44.43
Beanie
It's a really good question actually and something that we do talk about a lot because um, as I mentioned at the beginning you know this is a London -based Livery Company we're not scotland based as it happens. Um, we have ah members from across the length and breadth of the uk but we also have members from overseas. Have you know individuals whether it's in the us or canada or the far east who are involved somehow or form in the distilling trade and we absolutely want to think about how to envelop them all into this fundraising initiative. What I can say is that the one of one as it stands today will always be a scotch whisky initiative. You'll always be in scotland for scotland. But I think we are certainly starting to think about how we might do something at a fundraising and sort of event level for our broader community I don't yet know what that is but I think given the profile of our members and the sorts of whiskeys and other spirits that we will have access to through them should be something pretty exciting. Ah, so let's have another chat maybe in nine months time and I'll have more to share on that It's definitely a work in progress.

38:39.87
fungalboy
Um, well we we know the kind of um, the work that the worshipful company does is is as you say extremely beneficial to the industry as a whole and that the charities that it supports we know that it's certainly been very. Supportive of various different inclusivity and diversity initiatives. We had Georgie Bell on the podcast a number um months ago talking about how it was very beneficial for her and her career. So I think theres there's obviously ah, a really broad remit there which goes beyond scotch whiskey and it would be interesting to see that it. Other categories other possibly countries ah benefiting as well. So ah, wish you the very best luck on that. but but I do have a question because all of this is is obviously ah the right thing to do a very honorable and and extremely. Ah.

39:24.54
Beanie
Thank you.

39:37.38
fungalboy
Charitable thing for for the the worshipful company to to do? um but I'm I'm curious. Ah particularly maybe with your history of um, fine and rare scotches in with your hat on that. There's been an ever-increasing interest in very unusual, Very unique, um, collectible.

39:56.12
Beanie
Is.

39:56.81
fungalboy
Um, spirits both Scot scotch whiskey in particular but it's also seen a benefit in in Irish Whiskey and and in Bourbons. Um, and that's moved perhaps in the last sort of Decade from sort of an interest from certain collectors to some people starting to um you know treat these as in investment vehicles. Ah, do you think that's a beneficial thing or or do you think it's something that perhaps Holds potential dangers for the industry.

40:26.22
Beanie
Gosh That's a big question. Um I mean I think when we launched the one of 1 you know we read the room. There is an interest in rare remarkable whiskey and if we can um, harness that interest and um, you know deploy the sort of. Value that lies therein towards a charitable purpose. You know that's that's pretty exciting. Um I think you know it's not really our place necessarily to evaluate how things are moving. Um, what I can say is that you know I work with 35 donors from across.

40:48.67
fungalboy
Um.

40:59.58
Beanie
Length and breadth of Scotland all of whom are approaching this with complete integrity. Um, you know this is not a sort of um, a land grab you know it's very much about you know? Yes, the land. Yes, it's a platform for their brands. But it's first and foremost an opportunity to raise money for charity. Um, you know we touched on this earlier on. It's hard to know necessarily where these. Where these lots will end up in future years I hope and pray some will get drunk. Um, but some will invariably end up being resold. Um, and obviously we will not see the benefit of that you know that money will will change hands and so be it. Um I think what I would say is that you know I don't think anybody coming to the auction is. Is purely coming to speculate I think these are people who are genuinely passionate about the category or are passionate collectors of you know of things you know whether it's art or watches or cars or you know there's a degree of of genuine interest and passion that underpins all of this. Um I don't think we're going to see people coming along. Just yeah as I said purely to sort of speculate and hope that they'll make money out of it I mean I think that's implied but it's not that it's not the main thrust of this and I don't think it's the main thrust of anyone's kind of desire to be in the auction I think there's also just you know as I said a lot of people want. Be present to be physically part of this community spirit. Um, you know we've got to be a bit wary of having spectators rather than bidders at the auction because obviously the key is to make money but you know I think there's also a very uniting presence and in fact, we'll be hosting a cocktail reception the night before

42:17.92
Foxy
Yeah.

42:18.83
fungalboy
Um, man.

42:28.46
Beanie
For our community the broader Community our charity partners The crafts people who've been involved that that whole universe and ecosystem of people who've been involved. So yes as I said I who can say exactly where this will go. But I think as I said I think everyone's intentions are very or very true in that regard.

42:47.17
fungalboy
And just to get back to it. All of this depends on donors and as you say it can be a platform for their brands. But at the same time. The amount of work and energy and effort that goes into this must be off the scale. Um, ah, can you give me some examples of what people have done. In order to source and actually produce a 1 of 1 lot.

43:07.16
Beanie
Well I mean I I do know that there are donors especially younger donors who will be spending probably tens of thousands to develop a lot that may not sell for as much as they've invested in it. You know I think they've they want to bring something to market that showcases there. Creativity their ingenuity the the beauty of their liquid but perhaps their brand isn't at that stage yet. So. It's an interesting investment on lots of levels. Um, you know for the bigger donors. There's obviously more there's more ready. Um. Resource to invest into the project and that'll probably be recouped if there are very well-known brands. You know in some instances um without some naming names. You know there were there were a couple of bottles last year where you know there was a single bottle that ultimately obviously made its way to the auction but you know not before. 20 or 30 individually hand-blown bottles had been attempted and thrown away because there was a crack there or fault line there. You know so as I said it's it's sort of it's it's a huge amount of craft that goes into developing these pieces and for the bottles the cabinetry the you know the the inks being used I mean the level of. Detail is is extraordinary. Um, and yeah I think I said it's sort of you know there's there's lots of reasons for that. Ultimately you know there's there's an underpinning all of this is a desire to elevate their brand. You know where whomever they are.

44:28.98
Beanie
But I think it's also just testament to their commitment to the cause that they're able to invest that time and energy and money in the project and also in many instances make a financial contribution because as I as I touched on because we give 100% to Charity. We actually cover the overhead of the auction through donations from sponsors and donors. So It is a huge commitment across the board to bring this. Bring this to life and it's very it's quite moving Really I think it's also quite remarkable that you know essentially everyone's downing swords for the day and coming together to sit around. You know in a ballroom and and and celebrate one another's successes and the success for the Charity. So I think it's It's quite an extraordinary um situation.

45:07.50
Foxy
Ah I know we definitely have a number of whiskey enthusiasts that that listen to the podcast I'm not sure how deep their pockets might be but if if this if you never know there. There could be 1 or 2 that have a little bit of spare cash line around and.

45:11.23
Beanie
And how.

45:18.92
Foxy
If they want to find out more about the auction or preregister interest are where they might find just a little bit more about us and what lots might be coming up where do you suggest they go to.

45:26.90
Beanie
Great. So I would say if they want to learn more the best places to come to our website which is disill as one ofone dot com there's a register your interest button that email will come to me or a member of my team and we'll get in touch and have a chat about the auction and sort of you know whether it's whether it's something they feel they ought to participate in. If they're already a season bidder or indeed know for certain they want to bid um the the sort of important step for every single bidder is to register with sotherbyes so sotherbeees is our auction partner. They're actually running the auction and all bidders have to be registered and obviously kyc checks and all that some stuff done ahead of time. So um, that's a sort of absolute must have. But obviously we're very keen to connect with with buyers. Um ahead of time and learn a bit more about what's exciting them It's great for me, you know I'm I'm the sort of organizer of all of this and then trying to sort of develop it and then envisage where it might yet go so having that direct contact with buyers is really important and I and I relish it. Um, it is ah you know it is an evolving concept from 2023 has evolved quite substantially from 2021 and I'm sure it will continue to do so we've also enlisted the help of um of a couple of really fantastic travel agencies in Scotland of Luxury Travel Partners so as I said at the beginning you know we're very keen that more and more buyers should actually physically attend. You know it is a wonderful occasion in a splendid surroundings the opportunity to actually see these physical lots as a composite rather than just you know the individual lot which you may or may not bid on I think is quite special. Um Scotland is obviously a magnificent country to visit anyway.

46:55.28
Beanie
So we're trying to sort of give people more reasons to actually come to Scotland and be be physically with us. So yes, get in touch with me or my team. We'd love to hear from you and would love to see bidding handsomely on the night on the day I should say not the night but on the day.

47:09.14
fungalboy
So I I don't wish to disparage our listeners in any way shape or form. But I think it might be possible that we're more likely to have people who might be more interested in the donation side than the than the bidding side I could be wrong. But if people want.

47:22.88
Beanie
Um, sure. Yeah.

47:26.87
fungalboy
Is that is the process the same if people, um, you know are involved in the scotch whiskey industry. We do actually have a substantial listenership in Scotland and within the industry so ah, is it the same process to reach out get in touch with you.

47:39.79
Beanie
Um, absolutely with pleasure. You know, very happy to hear from anybody who's interested in the auction and in and in the charity. Um, the charity has its own standone website. It's just called distillerscharity.org. Um, and there is a very simple you know, donate here button if what you read is sufficiently motivating. You'd like to get involved. Um, you know I think especially for people based in Scotland because we do have this this community of donors and sponsors many of whom are based there. There are lots of ways for people to get involved and we can. You know we'd love to affect introductions so people want to sort of play a more significant role in it. Um, or you or indeed learn more about the worshipful company which is also obviously an important sort of um collection you know collection of people membership group. So there's lots of different ways for people to learn more but I would say the 1 and 1 website and the distillillas charity website are a good good place. Start and in either instance, you can easily find my contact details or those of my team.

48:31.22
fungalboy
And we'll provide a link in the show notes. Um to all those websites and and to to yourself as well. Um, and I think I would encourage anybody to get involved. We know from our conversations with people like Georgie in the past that things like networking mentorship you know and and indeed grants. Are something that um you know have to be funded by the by the company and people can get involvedlled in donating or or perhaps helping out. However, they so choose. Ah.

48:58.98
Beanie
Absolutely and you touched on this before but I think the worship of a company as an organization is evolving dramatically, you know we've got much more interesting. We're not interesting. That's the wrong word, but you know, diverse varied spread of ages. You know the demographic is changing shall we say. Um, and so it's a really It's a very inclusive and warm and welcoming place. Um, and certainly you know I I became a member of the weshco company. Ah back in 2016 I'd been involved with the last drop for an 8 a year you know year and a half by that point. Um. And it was a wonderful place for me to connect and and make you know friends and colleagues and and you know connections. Obviously so yes, as you said there's lots of different ways in which to kind of get involved and learn more and um, you know glad to to hear inquiries from anybody who's interested.

49:45.51
fungalboy
Brilliant. Well I just need to start saving for foxy's birthday present. That's the only thing left. Ah.

49:46.78
Foxy
Yeah I I I don't think you can expect to see whales sitting in the cocktail reception though like before the auction somehow.

49:50.48
Beanie
Ah, we yeah know maybe but we actually will be publishing all the information we'll got. We'll go live in July onto the southerby's um, own website and obviously through our own press. Outreach they'll be'll start to release t details of a lot so you know if there's something that you think might be in your price range then that'll be when all the becomes are revealed probably sat up. Yes, expect can't possibly.

50:14.51
fungalboy
Ah, um, my hands will be in my pockets by my side Firmly I can assure you and thank you very much being it an absolute pleasure.

50:24.56
Beanie
Thank you so much for having me.