How is the "Market Value" calculated?

The market value represents the value from price observations in our monitored and processed auction houses.

We calculate the market value as the average over all the price observations within the 90 days preceding the most recent price observation. The date of the most recent price observation defines the market value date. For auction prices, we use the buyer price (hammer price plus buyer fee) to make prices from different auction houses comparable.

Retail shop prices are not included as they represent different offerings. Especially for highly valued whiskies, the difference between secondary market price observations and retail shop offerings can be significant.