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Prospective whisky investors are often advised to buy two bottles; one to drink and one to hold.

The advice seems suspiciously tailor-made to drive scarcity of the asset and thus bolster prices of the dwindling stock remaining in circulation.

It’s effective.

Were they still alive, my Scottish grandfathers would have rolled about the floor laughing, or sobbing, at the notion that a bottle of whisky could fetch £1.5 million ($1.9 million).

They’d be all the more puzzled, given that it has always been true ...

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