Independent Bottlers Single Malt Whisky and Rum Event

SILVER SEAL & INDEPENDENT BOTTLERS Single Malt Whisky and Rum Event

19 APRIL 2014 HONG KONG

LONDON 1666

GROUP CHAIRMAN AND CEO Olivier D. Stocker YOUR SPECIALISTS

STAMPS UK – Tim Hirsch Guy Croton David Parsons Nick Startup Neill Granger Paul Mathews Dominic Savastano Tom Smith Ian Shapiro USA – George Eveleth Richard Debney Europe – Guido Craveri Fernando Martínez China – Anna Lee COINS UK - Mike Veissid Paul Dawson Richard Bishop William MacKay Eleanor Charlotte Dix Tim Robson Edouard Wyngaard Barbara Mears John Pett USA – Stephen Goldsmith Greg Cole China – Kin Choi Cheung BANKNOTES, BONDS & SHARES UK – Barnaby Faull Mike Veissid Andrew Pattison Monica Kruber USA – Stephen Goldsmith Europe – Peter Christen China – Paul Pei Po Chow Kelvin Cheung ORDERS, DECORATIONS, MEDALS & MILITARIA UK – Mark Quayle Oliver Pepys BOOKS UK – Philip Skingley Jennifer Mulholland AUTOGRAPHS USA – Stephen Goldsmith WINES China – Anna Lee Guillaume Willk-Fabia

YOUR EUROPE TEAM (LONDON – LUGANO)

Chairman’s Office Charles Blane Directors Tim Hirsch Anthony Spink Auction & Client Management Team Miroslava Adusei-Poku Edward Rivers Luca Borgo Rita Ariete Dora Szigeti John Winchcombe Kenichiro Imase María Martínez Maurizio Schenini Finance Alison Bennet Marco Fiori Mina Bhagat Dennis Muriu Billy Tumelty Dean Dowdall IT & Administration Berdia Qamarauli Leszek Woronowicz Liz Cones Curlene Spencer Tom Robinson Cristina Dugoni Giacomo Canzi

YOUR AMERICA TEAM (NEW YORK) Auction Administration and Marketing & Design Sonia Alves Luke Mitchell Madison Lang Finance & Administration Sam Qureshi Ingrid Qureshi Auctioneers Stephen Goldsmith

YOUR ASIA TEAM (HONG KONG – SINGAPORE)

Angie Ihlo Fung

Vice Chairman Anna Lee Administration Raymond Tat Newton Tsang Amy Yung

Gary Tan

EXCLUSIVE

SILVER SEAL

SILVER SEAL & INDEPENDENT BOTTLERS Single Malt Whisky & Rum Event

AUCTION

19 April 2014 in Hong Kong and on * *

or AUCTION LOCATION ㉵岋㚫⛘溆 ㉵岋㚫⛘溆

YOUR SPINK TEAM FOR THIS SALE YOUR SPINK TEAM TEAM FOR FOR THIS THIS SALE AUCTION YOUR SPINK

SPINK CHINA

SPECIALIST

Anna Lee china@spink.com +852 25 300 100

9/F Malay a sia Building ay 50 Gloucester Road Hong Kong

A CTION TEAM FOR YOUR BIDS, SALE RESULT AU L S AND LT CAT ATA AT TA LOGUE REQU Q ESTS QU

㉵岋㚫娛ね ㉵岋㚫娛ね

Amy m Yu my Y ng china@spink.com +852 25 300 100

AUCTION DETAILS

Saturday 2014 - lots 1-82 at 2.00 PMPM Thursday a 19 ay 20April March 2014 - lots 1- 155 a 6.00 at In sending sending commission bids or making enquiries, this this sale sale should should be referred refe f rred to as SFW07 fe SFW05

Newton Tsang china@spink.com +852 25 300 100

枸⯽㗪攻 枸⯽㗪攻

Ray a mond Tat ay a at china@spink.com +852 25 300 100 Angie Ihlofung china@spink.com +852 25 300 100

*Spink is pleased to continue to offer our brand new on-line bidding platform Spink Live for no charge through www.spink.com. Please note that bidders who acquire lots on the-saleroom.com will have a fee of 3% on the hammer price added to their invoice for using this facility.

For more information and personal assistance please email china@spink.com or please call +852 25 300 100

Use this QR Q code to visit our online catalogue and leav a e proxy bids on av Spink Live.

Y u can download the QR Code Reader for iPhone, Blackberry and Yo Android from App Store on your smartphone.

The Spink Environment Commitment: The Spink Environment Commitment: Paper from Sustainable Forests and Clean Ink Paper from Forests and Clean Spink has a long historySustainable of preserving not only collectables but our planet, too. We W areInk proud to ensure that our policy of sustainability and conservation keeps up with Spink’s growth, helping improve the environment for new generations of collectors.

W insist that our printers source all paper used in the production of Spink catalogues from FSC and/or PEFC We W also ask they hold the environmental standardISO 14001. suppliers and use non-hazardous inks. We

FOR YOUR INTERNET BIDDING

Newton Tsang china@spink.com +852 25 300 100

To purchase a catalogue: email: catalogues@spink.com tel: +852 25 300 100 fax: +852 25 266 128 For more information about Spink services, forthcoming

Spink recycle all ecological material used on our premises and we encourage you to recycle your catalogue

sales and sales results visit the Spink Website

once you hav a e finished with it. av

www.spink.com

WWW.SPINK.COM

EXCLUSIVE

NOTICE TO BIDDERS Dear Bidder, We welcome you to our auction house. Please note the points below to assist you with the registration, bidding and payment at our auctions.

REGISTRATION FOR BIDDING: If you are registering with us for the first time or have not bid successfully in the past, we require a deposit of HK$50,000. If you intend to bid more than HK$200,000 the deposit may be higher. The deposit will be deducted from your invoice should your bid be successful. If you are unsuccessful, your deposit will be returned by the same means by which it was paid. In addition we will ask for your bank and trade references.

We encourage new clients to register for bidding at least 48 hours prior to the commencement of the sale to allow sufficient time to process the registration.

Prior to the auction, some lots may be designated as “Premium Lots”, which means a deposit may be required before placing a bid on the item for sale.

Information will be posted on our website in such an event.

Spink have the right at our own discretion to refuse admission to our premises, attendance at an auction and decline submitted bids.

BIDDING METHODS: In person You will be given a registration form that you will need to fill in providing your up to date address and contact details. Please always have your photo ID with you and, if you are bidding on behalf of a company, your business registration. ID information is collected for registration purposes only and will be kept confidential.

Submitting a bid form by email/post/fax Again please always provide your full up-to-date contact details together with the lot numbers and the amounts up to which you would like us to bid on your behalf exclusive of Buyer’s Premium/tax/postage. Should you not receive our email confirmation of your bids having been received please call our office to make sure they have been received and processed.

Submitting bids via our website To submit bids via our website www.spink.com you need to be registered and logged in. You can leave bids via this method up to 3 hours before the commencement of the sale.

Bidding live on Spink Live You must be registered and logged into our website www.spink.com. The live bidding applet can be accessed from one week prior to the sale via the Spink Live button on our homepage. You will see ‘Auction not yet started’ message that will be replaced about one hour before the commencement of the sale with the live feed. You will be able to see and hear the auctioneer live during the sale.

Telephone bidding We reserve this service for bidding on lots of value exceeding HK$10,000.

Bidding via agent Your agent has to inform us prior to the sale that he or she will be bidding on your behalf, and the usual sale registration has to take place. He or she has to provide a letter of authorisation signed by you.

Please place your bids following our usual bidding increments published in the Terms and Conditions for Buyers.

Please note that commission and telephone bids are undertaken subject to other commitments at the time of the sale, and the conduct of the auction may be such that we are unable to bid as requested. Since this is undertaken as free service we cannot accept liability for failure to make a commission bid.

Buy bids and plus one bids will not be accepted.

SILVER SEAL

AUCTION

EXTENSIONS (STAMPS ONLY): Prospective buyers, who wish to obtain an expert opinion on any lot other than a mixed lot or lot containing un-described stamps, are requested to notify Spink in writing no less than 48 hours before the commencement of the sale. Reason why such opinion is required must be stated together with the identity of an expert for Spink to consider such a request.

Extensions requested on account of condition will not be accepted for expert opinions.

PAYMENT METHODS: Payments should be made by the registered buyer and not by third parties, unless it has been agreed upon at the time of registration that you are acting as an agent on behalf of a third party.

Payments are due within seven days after the date of the sale unless it has been confirmed to you in writing since July 2013 that you are an approved credit client. If payment is not received by Day 35, the sale will be cancelled. If you are also a vendor in the sale, please note offsets are not available.

Payment may be made by one of the following methods: Direct bank transfer to the following account, quoting invoice and client number as reference. All bank charges should be met by you.

Account Name: Spink China Limited Bank: Bank of China (Hong Kong) Limited Account No.: 01287500470625 SWIFT code: BKCHHKHHXXX Bank address: Bank of China Tower

1 Garden Road, Central, Hong Kong Credit card (VISA , Mastercard and CUP): A 3% surcharge will be applied.

American Express: A 4% surcharge will be applied. The amount will be converted into Pound Sterling and processed in Spink London office.

For all card payments there are limits to the amounts we will accept depending on the type of card being used and whether the cardholder is present or paying over the telephone. To make a payment by card please call our office at +852 25 300 100 or email china@spink.com.

Hong Kong cheque drawn on HK branch of bank: Cheques should be made payable to Spink China Limited and must have cleared before your purchases can be collected or sent to you.

Bankers draft/cashier’s cheque: If you provide suitable proof of identity and we are able to make checks that satisfy ourselves as to the genuineness of the draft or cheque then you may collect your purchases immediately.

Cash: You may pay for lots purchased by cash in the currency of the sale. We may accept small amounts in GBP, US$ and EUR. COLLECTION OF LOTS AND SHIPPING: All lots have to be paid for in full before they can be collected or shipped. If an invoice is partly paid no lots will be released from that invoice.

It is the responsibility of the buyer to be aware of any import duties or import restrictions in the final destination. Spink will not accept return of any package in order to avoid these duties.

Please be aware that your purchased lots will be at your risk in all respects from the time of collection or the expiry of seven days from the date of sale, whichever is sooner.

If you require sending your lots to an address different from the address on the invoice, this will be carried out at the discretion of Spink.

Please make yourself aware of any Saleroom notices published on lots you are interested in bidding on.

FOR ANY FURTHER INFORMATION PLEASE CONTACT OUR AUCTION TEAM AT +852 25 300 100 or china@spink.com.

WWW.SPINK.COM

EXCLUSIVE

SILVER SEAL

Order of Auction Category

Lot

Islands (Islay & Skye) Ardbeg Bowmore Bunnahabain Caol Ila Dunyvaig Highland Park Laphroaig Port Ellen

1-2 3-5 6 7 8 9-10 11-13 14-17

Highlands Clynelish Glenury Royal Lochside

18 19 20

Campbeltown Spingbank

21-23

Speyside Dailuaine Dufftown Glen Avon Glenfarclas Glenfiddich Glen Grant Glenlivet Linkwood Longmorn Macallan Mortlach Royal Brackla Strathisla

24 25 26 27 28 29-30 31-35 36-37 38-40 41-54 55-56 57 58

Lowlands Littlemill Ladyburn Rosebank

59 60 61

Blended Whisky

62

Japanese Single Malt Whisky

63-75

Rums

76-82

WWW.SPINK.COM

AUCTION

EXCLUSIVE

SILVER SEAL

FOUNDED 1666

CHINA

proudly presents an exclusive

Silver Seal & Independent Bottlers Single Malt Whisky and Rum Event

Saturday 19 April 2014 Exclusive Tasting and Talk with

Mr Massimo Righi

owner of Silver Seal and the Legendary Sestante Collection

12:30 PM

prior registration required

Auction

2:00 PM

STAMPS COINS BANKNOTES MEDALS BONDS & SHARES AUTOGRAPHS BOOKS WINES

9/F Malaysia Building, 50 Gloucester Road, Hong Kong Telephone: +852 25 300 100 Facsimile: +852 25 266 128 e-mail: china@spink.com www.spink.com WWW.SPINK.COM

AUCTION

EXCLUSIVE

SILVER SEAL

Dear Connoisseurs Spink is honored to introduce and welcome you to a very special & unique event of the decade with the attendance of Mr Massimo Righi of Silver Seal (formerly Sestante, founded in 1979 and renamed in 2001), a premier Independent Bottler* of whiskies. Today, it is owned by Mr Righi with one of the original Sestante founders as a consultant. Being based in Italy, it is one of the few legendary independent bottlers in Europe to send their own bottles and labels to Scotland for bottling (only whiskies matured and bottled in Scotland can be called Scotch by law).

In addition to Silver Seal being internationally recognized and served in Michelin starred establishments worldwide, the name Sestante is considered very prestigious amongst whisky collectors and investors and is still being marketed for some of the Silver Seal products as special collections.

A total of 82 exquisite lots will be on offer in this auction, including five extremely sought-after Silver Seal crystal decanters, featuring Ardbeg, Bunnahabain, Highland Park, Macallan and Port Ellen. Each decanter is unique in its own rights and comes with a certificate of authenticity for both the crystal and its whisky content.

A 1989 (25 year old) Macallan cask (at 52.5% cask strength), first time being offered in public auction will provide the successful bidder with an unique opportunity to work with the Silver Seal design team on an exclusive label and luxury packaging for the 174 bottles from the cask.

Slainte mhath (good health in Scottish Gaelic) äšžć?Ż

Anna Lee

*an Independent Bottler is a company, which does not produce whisky but buys casks filled with whisky, that may be mature or not yet, and bottles the whisky under its own brand name.

WWW.SPINK.COM

AUCTION

SILVER SEAL & INDEPENDENT BOTTLERS SINGLE MALT WHISKY & RUM EVENT

Independent Bottlers An Independent Bottler is a company, which does not produce whisky but buys casks filled with whisky, that may be mature or not yet, and bottles (by exception blends) the whisky under its own brand name.

Although the majority of these independent bottlers are Scotland based and still family owned after hundreds of years, there is a growing number of, often small and even "one man", Independent Bottlers 's outside of Scotland.

Some of the bigger ones even own one or more distilleries.

There are a growing number of independent bottlers and although the quality of every bottling and expression will be different, unique and combined with aspects such as diversity, exclusiveness (vintage, age, single cask, cask strength, single malt) etc.

The Independent Bottlers that appear in this auction are: Berry Brothers & Rudd Duncan Taylor Gordon & MacPhail Hart Brothers Number One Drinks Company Signatory Vintage Silver Seal

WWW.SPINK.COM

APRIL 19, 2014 - HONG KONG

Silver Seal Silver Seal is the 'successor' of the legendary Italian whisky bottler Sestante that ceased to operate around 1990. The brand kept a low profile during the 1990's, but from 1999 on they started releasing bottlings again - this time under the name 'Silver Seal' with the initials 'SS' in a shield over a thistle in their logo.

These days they buy the most interesting and rare whole casks of whisky and rum and are a world force and a legend in independent bottlers.

Today, it is owned by Massimo Righi with one of the original Sestante founders as a consultant.

“Massimo was born with a gift and a passion for finding the greatest bottles from the most important & famous distilleries in the world.�

Davide Terziotti –Whisky Writer

7

SILVER SEAL & INDEPENDENT BOTTLERS SINGLE MALT WHISKY & RUM EVENT

Berry Brothers & Rudd The Berry Brothers company has a long and proud history in the wine world, but they have also been dabbling in whisky for many years. Their little old store in the heart of London is a sight for sore eyes; very little seems to have changed in the more than three centuries since the company was founded in 1698.

Since 1760, the company are official suppliers to the British royal household.

Apart from their famous blended whisky 'Cutty Sark' , Berry Brothers's malt whisky portfolio also includes a range of independent bottlings, as well as two series of 'vatted malts'.

Berry's All Malt and Berry's Pure Malt. The Berry Brothers & Rudd company also has long lasting ties to the Glenrothes distillery in Speyside.

Duncan Taylor The basis of the current Duncan Taylor company was the collection of Mr Abe Rosenberg and two of his brothers. In a partnership with Charlie Guttman he managed to make the J&B brand a huge success in the USA. He owned several companies, including (from the early 1960's) Duncan Taylor & Co Ltd., especially set up to obtain casks of Scotch (malt and grain) whisky.

When Abe passed away in 1994 the company had collected almost 4,000 casks.

The company was run by a trust for a number of years until Euan Shand and Alan Gordon bought Duncan Taylor in 2002. The business was relocated from New York to Huntly in Scotland and the brand quickly established itself on the Scotch malt whisky scene. A few of Duncan Taylor's series are 'Whisky Galore', 'Peerless' and 'Rarest of the Rare'.

Gordon & MacPhail Gordon & MacPhail was founded in 1895 by James Gordon and John MacPhail.

The bottler (located in Elgin, Speyside) is in a league of its own when it comes to independent bottlings. For one thing, they are the only bottler that has released many 'semi-official' bottlings in the past too.

During the 1990's G&M bottled the whisky from (among others) Ardmore, Imperial, Inverleven and Glentauchers when the owners didn't bother with releasing an official bottling of their own. Gordon & MacPhail's warehouse is massive and they have stocks of virtually every single malt whisky that was produced in recent decades.

The grocery store in Elgin that started it all still exists - and still sells groceries.

But they sell a LOT of Gordon & MacPhail (and other) whiskies as well. G&M has bottled many different brands and series in ther past, including 'Connoisseurs Choice', 'Speymalt', 'Spirit of Scotland', 'G&M Reserve' and 'MacPhail's Collection'. Gordon & MacPhail produced many 'bastard malts' like Glen Avon and Glen Gordon as well, and acquired their own Benromach distillery in 2002.

WWW.SPINK.COM

APRIL 19, 2014 - HONG KONG

Hart Brothers Donald and Iain Hart founded the company 'Hart Brothers' in 1964 and they were joined in 1975 by their brother Alistair.

They started out as wine and spirit wholesalers and Scotch whisky blenders but gradually evolved into an independent bottler. They entered the market as independent bottlers in the second half of the 1990's.

Their main brand is the 'Hart Brothers Finest Collection' but they carry several other brands as well, like the 'Collection Dunvegan' for the Societe Dugas in Paris, France.

According to their site; "Hart Brothers trace their origins in the licensed trade back to the late 19th century when the family were licensed victualers and publicans in Paisley, the mill town on the outskirts of Glasgow.

However, it was not until 1964 that brothers Iain and Donald Hart incorporated the company".

Number One Drinks Company The Number One Drinks Company was founded in 2006 by Marcin Miller to help bring Japanese whiskies to Europe.

Whiskies are sourced in Japan by David Croll before being judged by a tasting panel. Casks are then purchased, bottled and shipped to Marcin Miller (founder of Whisky Magazine & the Whisky Live events) in the UK to be sold to specialist retailers.

Their very first bottling was a single malt whisky from the now defunct Hanyu Distillery. They mostly deal in single malt whiskies from the Chichibu, Karuizawa and Hanyu distilleries.

Signatory Vintage Signatory Vintage is one of Scotland's premier independent bottlers. Andrew and Brian Symington started bottling single malt whiskies in the late 1980's and built their own bottling plant in Edinburgh in the early 90's. The main 'brand' of Scotland's second largest independent whisky bottler is Signatory Vintage.

The name of the brand and the company was based on the original idea to have every bottle they would release signed by a celebrity. Somehow that idea was never implemented, but the name stuck.

Apart from various series within this brand (Un-chillfiltered Collection, Silent Stills, etc) the company markets several other brands like 'Scottish Wildlife' (in the 1990's), 'Dun Eideann' (bottled at 40%, mostly for European markets) and 'Prestonfield' (named after the hotel where the Symington brothers worked in the 1980's) - as well as the Edradour distillery since 2002.

9

SILVER SEAL & INDEPENDENT BOTTLERS SINGLE MALT WHISKY & RUM EVENT

Scotland’s Whisky Producing Regions Scotland’s whisky producing regions are as diverse as the wine regions of France.

They give us single malt whiskies with distinct qualities and characteristics borne out of their location, climate and hundreds of years of craft.

ISLANDS (ISLAY & SKYE) Peaty & Maritime Sitting amongst the Inner Hebridean Scottish Isles, are the malt whisky producing islands of Islay and Skye. Rugged, windswept and barren, the island landscapes generally produce single malt whiskies with strong peaty, maritime aromas.

Ardbeg Distillery (Scottish Gaelic: Taigh-stail Àirde Beaga) is on the south coast of the isle of Islay, Scotland, in the Inner Hebrides group of islands.

The Ardbeg distillery has been producing whisky since 1798, and began commercial production in 1815.

The distillery is owned by Louis Vuitton Moët Hennessy, and the company claims it produces the peatiest Islay whisky.

The distillery uses malted barley sourced from the maltings in Port Ellen.

Ardbeg Galileo won the World's Best Single Malt Whisky in the 2013 World Whiskies Awards.

WWW.SPINK.COM

APRIL 19, 2014 - HONG KONG

1

2

Ardbeg 1974 - 26 year old 70cl 40% Silver Seal Bottling Bottling Date: 2001 Bottle Number 253 of 444

Ardbeg 1972 - 28 year old 75cl 43% Silver Seal Bottling Unique Antique Crystal Decanter 1860 Saint Louis Crystal Decanter French

HK$5,000-6,000

HK$28,000-38,000 11

SILVER SEAL & INDEPENDENT BOTTLERS SINGLE MALT WHISKY & RUM EVENT

Bowmore Distillery, one of the oldest in Scotland has stood on the shores of Loch Indaal, on the Hebridean Island of Islay, since 1779 by local merchant David Simson.

Its close proximity to the sea is vital in determining the final character of Bowmore Islay Single Malt Scotch Whisky, as is the strict adherence to the traditional production methods handed down to Morrison Bowmore Distillers Ltd in 1963, by its four previous owners.

Simson moved to the new village of Bowmore from Killarow around 1766. He was a farmer, a merchant, a postmaster, a sailor and most memorably - a whisky distiller. His arrival coincided with the expansion of the village after Daniel Campbell The Younger, the Laird of Islay, decided to build Bowmore as the island’s capital.

The first recorded mention of the distillery was in 1779, the first on Islay, but it is believed to have started soon after David’s arrival in 1766. He was a pioneer - he built the distillery, distilled the whisky and introduced the new famous Islay whisky to the world.

The distillery was later taken over by James Mutter and his family. Mutter, as well as being a farmer and distiller had the unlikely role of Ottoman, Portuguese and Brazilian Vice-Consul in Glasgow.

James Mutter considerably expanded the distillery and as the Bowmore name began to travel, demand grew.

The family kept the distillery until 1887 when it was sold to John Sherriff of Campbeltown and became the Bowmore Distillery Company. In 1963 the distillery was acquired by Stanley P Morrison. Although Morrison substantially rebuilt and renovated much of the distillery he retained the original floor maltings and traditional whisky production methods which are still in use to this day.

The distillery today is owned by Morrison Bowmore Distillers. After having been part-owned by Suntory Ltd of Japan for some years, Morrison Bowmore was purchased outright by Suntory in 1994.

Bowmore Distillery is one of an ever decreasing handful of distilleries to produce its own floor malted barley. The barley is still laboriously hand turned, by the Maltman, using the traditional wooden malt shovel.

Bowmore Islay Single Malt Scotch Whisky is produced using water from the Laggan River from where it gathers the flavours of the rich Islay Peat, the same Peat that fires the Malt drying kiln.

The famous Bowmore Vaults are where Bowmore Islay Single Malt Scotch Whisky spends nearly all of its life resting quietly in the damp cellars below sea level - the Spanish and American Oak Casks into which it is filled, imparting rich and mellow flavours to the maturing whisky.

Peat, barley, water, wood, people and tradition accumulate to create the subtle, warm and smoky character of Bowmore Islay Single Malt Scotch Whisky.

WWW.SPINK.COM

APRIL 19, 2014 - HONG KONG

3

4

Bowmore 1972 36 year old 70cl 45.4% Bottled by Signatory 29 July 2008 Distilled 21.6.1972 Cask Number 3890 Bottle Number 445 of 540

Bowmore 1983 30 year old 70cl 48.8% Bottled by Silver Seal Single cask bottling Bottle Number 8 of 152

HK$12,000-14,000

HK$5,500-6,500 13

SILVER SEAL & INDEPENDENT BOTTLERS SINGLE MALT WHISKY & RUM EVENT

5 Bowmore 30 year old 70cl 43% Nicknamed 'the seadragon' due to the mythical beast adorning the rather pretty black ceramic bottle and box, this 30 year old Bowmore appeared in the mid 1990s and has achieved almost mythic status itself, being made up entirely of long-aged casks from the legendary 1960s vintages. A magnificent dram, bursting with rich tropical flavours - one of the all-time classics from this distillery.

HK$13,000-15,000 WWW.SPINK.COM

APRIL 19, 2014 - HONG KONG

The Bunnahabhain Distillery was founded in 1881 near Port Askaig on Islay. The village of Bunnahabhain was founded to house its workers. The distillery is owned by CL Financial.

The Bunnahabhain is one of the milder single malt Islay whiskies available and its taste varies greatly from other spirits to be found on the island of Islay, off the west coast of Scotland.

6 Bunnahabain 1968 - 42 year old 1 liter 45.3% Silver Seal Bottling Unique Antique Crystal Decanter 1870 English Crystal HK$32,000-42,000 15

SILVER SEAL & INDEPENDENT BOTTLERS SINGLE MALT WHISKY & RUM EVENT

Caol Ila (Gaelic for Sound of Islay) which is pronounced as 'col eela'. The name relates directly to its location, directly on the shore of the Sound of Islay less than a mile north from Port Askaig. Caol Ila Distillery was founded in 1846 by Hector Henderson. The distillery did not fare well, and changed hands in 1854 when Norman Buchanan, owner of the Isle of Jura Distillery, took over.

In 1863 the business was acquired by Bulloch Lade & Co, of Glasgow, traders in whisky stocks. By the 1880s over 147,000 gallons of whisky were produced there each year. In 1920 Bulloch Lade went into voluntary liquidation, and a consortium of businessmen formed the Caol Ila Distillery Company Ltd. In 1927 the Distillers Company Limited acquired a controlling interest in Caol Ila, and in 1930 Scottish Malt Distillers Ltd obtained ownership of all the shares. The company eventually became part of Diageo.

The distillery closed during World War II, from 1941-1945, because of wartime restrictions on the supply of barley to distillers. From then, production continued until 1972, when the entire structure of the distillery was demolished. A larger distillery was built in the same original architectural style, and production resumed in 1974.

Today Caol Ila is the distillery with the largest production on the island.

7 Caol Ila 1981 - 31 year old 1.5 liter 54.2% Silver Seal Bottling Sestante Collection Cask number 2930 Bottle Number 20 of 125 WWW.SPINK.COM

HK$8,500-9,500

APRIL 19, 2014 - HONG KONG

As early as 1742, there were perhaps ten illicit stills operating at Lagavulin. In 1816 local farmer and distiller John Johnston founded the first legal distillery, within view of Dunyvaig Castle, once the stronghold of the Lords of the Isles.

A year later Archibald Campbell founded a second, which seems later to have traded under the name Ardmore. After Johnston's death the two were united, when Glasgowbased Islay malt merchant Alexander Graham, to whom Johnston had been in debt, acquired Lagavulin for the princely sum of £1,103 9s 8d.

Graham improved the buildings and his successors, James Logan Mackie & Co, carried on the business successfully.

As a result, Lagavulin went from strength to strength.

Owner Peter Mackie became famous throughout the whisky world as the creator of the famous blend, White Horse. A man driven by the Victorian work ethic and so nicknamed by his staff "Restless Peter", he was continually planning fresh ventures, one of which the famous "traditional" Malt Mill distillery opened alongside Lagavulin in 1908 and closed in 1960.

Mackie was also committed to ensuring Lagavulin continued to be produced with meticulous attention to detail.

The barley used to distil Lagavulin is malted at nearby Port Ellen and has a strong peat "reek" - it has perhaps twenty times as much exposure to peat smoke as a typical Speyside, Cragganmore. Fermentation of the barley is a slow process, too. Between 55 and 75 hours are taken for the full peat-rich flavour of the locally-malted barley to come through.

The four stills at Lagavulin, two of them pear-shaped in the style inherited from Malt Mill, take this peaty wort and give it all the time and care it deserves. Following the original practice, Lagavulin™ receives the slowest distillation of any Islay malt - around five hours for the first distillation and more than nine hours for the second. This long distillation is often said to give Lagavulin™ the characteristic roundness and soft, mellow edges that devotees rightly prize.

8

Lagavulin is a powerful yet wonderfully rounded pleasure. Its recently described "awesome power and marvellous complexity of flavours" are enjoyed by a significant number of malt lovers, for whom this big, dark, intense character just is malt.

Dunyvaig 1990 - 23 year old 1.5 liter 55.1% Silver Seal Bottling Single sherry cask bottling Cask Number 46 Bottle Number 5 of 10 A very rare and mysterious bottling.

Perhaps "Restless Peter" can rest easy at last ...

HK$6,500-7,500 17

SILVER SEAL & INDEPENDENT BOTTLERS SINGLE MALT WHISKY & RUM EVENT

Highland Park distillery is a Scotch whisky distillery based in Kirkwall, Orkney. It is the most northerly whisky distillery in Scotland, half a mile farther north than that at Scapa distillery.

The distillery was founded in 1798, presumably by Magnus Eunson. The name of this whisky does not refer to the area of Scotland known as The Highlands, from which Orkney is excluded, but rather to the fact that the distillery was founded on an area called 'High Park' distinguished from a lower area nearby.

Highland Park is one of the few distilleries to malt its own barley, using locally cut peat from Hobbister Moor. The peat is then mixed with heather before being used as fuel.

In 1984, Highland Park was the only whisky ever to have scored a rating of 100% by the regular tasting team of The Scotsman, a national newspaper of Scotland. Whisky reviewer and expert Michael Jackson has called it "The greatest allrounder in the world of malt whisky."

Highland Park is available in various proprietary bottlings by year, as well as a special bottling known as Cappella, available only at the distillery. In addition, several independent bottlings of Highland Park are produced. Highland Park is also one of the ingredients of The Famous Grouse blend.

WWW.SPINK.COM

APRIL 19, 2014 - HONG KONG

9

10

Highland Park 1967 - 42 year old 75cl 50.3% Silver Seal Antique Crystal Decanter 1880 English Crystal Decanter

HK$35,000-45,000

Highland Park 1974 - 27 year old 70cl 50% Silver Seal Bottling in 2001 Bottle Number 18 of 192 HK$4,500-5,500 19

SILVER SEAL & INDEPENDENT BOTTLERS SINGLE MALT WHISKY & RUM EVENT

The Laphroaig distillery was established in 1815 by Donald and Alexander Johnston.

The last member of the Johnston family to run the distillery was Ian Hunter, a nephew of Sandy Johnston, who died childless in 1954 and left the distillery to one of his managers, Bessie Williamson.

The distillery was sold to Long John International in the 1960s, and subsequently became part of Allied Domecq.

The brand was in turn acquired by Fortune Brands in 2005, as one of the brands divested by Pernod Ricard in order to obtain regulatory approval for its takeover of Allied Domecq.

Fortune Brands then split up its business product lines in 2011, forming its spirits business into Beam Inc. Laphroaig has been the only whisky to carry the Royal Warrant of the Prince of Wales, which was awarded in person during a visit to the distillery in 1994. The 15 year old is reportedly the prince's favourite Scotch whisky.

“There are 3 main ingredients for making Laphroaig - Barley, Water, and Yeast, but the secret ingredient is the People.”

Laphroaig (La-froyg) is the story of a community. An uncompromising, tough and determined group of people who work to ensure that this defining whisky has always remained true to its origins.

These origins can be found in Islay itself – its harsh climate and tough landscape have created a hardy people whose singlemindedness and honesty is as distinctive as Laphroaig.

A distinctive "pagoda" style kiln chimney at Laphroaig

WWW.SPINK.COM

APRIL 19, 2014 - HONG KONG

11

12

13

Laphroaig 1987 Bottled in 2004 by Silver Seal 16 year sherry 70cl 46% Color: pale amber Nose: quite some sherry, with notes of rubber and roasted nuts that do not let the malt shine through too much at first nosing. It’s soon to get quite leafy and earthy, with something distinctly medicinal now (iodine, embrocation). Hints of bitter caramel and chlorophyll, pu-erh tea, walnuts… Getting nicer and more complex by the minute. Quite some liquorice as well, shells, bitter oranges …

Mouth: again lots of sherry and quite some roundness and sweetness but the balance between the sherry and the peat is now almost perfect. Lots of milk chocolate, bitter oranges, black pepper, something resinous, chlorophyll again, quite some tannins …

Notes: and a big peat blast as a finale despite a medium long but almost perfect, smoky and earthy finish. An Interesting malt that needs your time and attention but that’s not ungrateful.

Laphroaig 1990 - 21 year old 70cl 57.7% Bottled by Silver Seal Single sherry cask Bottle number; 208 of 461 Color: rich amber Nose: smoke, medicinal and phenolic.

Tobacco, cherries, baked prunes. Adding some water became a bit pungent and more medicinal Palate: sweet and smoked. Creamy and oily and a bit tannic. Cherries, walnuts a bit salty. Adding some water: sweeter and the sherry notes are more intense Finish: long, spiced , smoked and dry Adding some water became longer with more spices and freshness Notes: great balance between peated and sherried souls that time by time try to win against the other. To drink alone, with a cigar or paired with venison or beef goulash

Laphroaig 1987 - 22 year old 70cl 46% Bottled by Silver Seal Bottle Number 35 of 60

HK$5,000-6,000

HK$3,500-4,500 21

Exclusively for Bar Metro in Milan to celebrate 43 years in busines.

Very Rare bottling.

HK$5,000-6,000

SILVER SEAL & INDEPENDENT BOTTLERS SINGLE MALT WHISKY & RUM EVENT

Established on Islay's south coast in 1825 by A K Mackay and Co, Port Ellen is reputed to have been the first distillery to have incorporated Septimus Fox's spirit safe design into the distillation process. Its innovations did not stop there, however. After having been taken over by the shrewd and energetic John Ramsay in 1836, Port Ellen became the first distillery to trade with North America in 1848. Ramsay secured the right to export in larger casks and store the casks in bonded warehouses prior to export, a system which persists to this day.

Ramsay was a busy man, it would seem. As well as helping Robert Stein and Aeneas Coffey develop their continuous stills at his distillery, he was also instrumental in the establishment of the Islay to Glasgow steamboat service, imported Sherry and Madeira into Glasgow, was at one time the Liberal MP for Stirling and served as the chairman of the Glasgow Chamber of Commerce.

After John Ramsay's death Port Ellen stayed in the hands of his family, but they sold their interest in the 1920s and it was acquired by DCL in 1925. DCL closed the distillery in 1929, but it continued to operate a maltings and bonded warehouse until it was re-opened with two more stills in 1966-67. In 1973 a large drum maltings was built that continues to supply malt to all the distilleries on Islay to this day.

WWW.SPINK.COM

APRIL 19, 2014 - HONG KONG

14

15

Port Ellen 1978 - 31 year old 70cl 54.6% Bottled in 2010 One of the stellar releases that catapulted this obscure distillery to fame in the late 1990s.

A legendary bottling.

Port Ellen 1979 - 30 year old 75cl 52.6% Silver Seal Antique Crystal Decanter 1910 St Louis Tommy Crystal Decanter English HK$28,000-38,000

HK$15,000-16,000 23

SILVER SEAL & INDEPENDENT BOTTLERS SINGLE MALT WHISKY & RUM EVENT

16

17

Port Ellen 1983 - 28 year old 70cl 55.5% Silver Seal Sestante Collection Single cask bottling Bottle Number 206 of 240

Port Ellen 1982 - 20 year old 70cl 50% Matured in sherry Bottled by Silver Seal Single cask bottling Bottle Number 148 of 270

Nose: big intense spice nose that has everything that makes Port Ellen such a gem nowadays.

Mouth: some maritime dirtiness, sea spray and brine, herbs, oil, ropes, peppery and chili-esque spice, leather, the wonderful crispy maltiness (like salted crisps), camphor, discrete mint, peat smoke, but also fruit (apricots and green bananas) and vanilla provide for immense complexity that dances on a tightrope between the poles of balance und untamed roughness.

Palate: it delivers on the palate as well and becomes more peaty!

A crazy Port Ellen that adds iodine, coal smoke, hay and matchstick sulphur to the mindboggling mix from above and never really finishes.

Note: yet it is very quaffable and screams for a second glass - Awesome!

HK$6,000-7,000

HK$5,000-6,000 WWW.SPINK.COM

APRIL 19, 2014 - HONG KONG

HIGHLANDS Smooth & Floral Known as one of the most scenic regions in Scotland, this land of rugged peaks and heather covered moor-land is geographically the largest of the whisky-producing regions.

It covers a variety of warm, rounded single malt whiskies: The West Coast (West Highlands) with its maritime influence on malts such as Oban.

The Central Highlands, including the heather and honey from one of Scotland’s highest distilleries, Dalwhinnie.

Clynelish Distillery is a distillery near Brora, Sutherland in the Highlands of Scotland.

The distillery was built in 1968, adjacent to the original Clynelish distillery which was closed. Confusingly the original distillery was reopened in May 1969 and until July 1973 produced a heavily-peated whisky to supply for blending; this was done to cover a shortage of Islay whisky caused by a drought on the island. The old distillery was renamed Brora Distillery and production of a peated spirit continued up until 1983.

Clynelish has had a strong connection with Johnnie Walker blended whisky for many years. A large proportion of the spirit used in Johnnie Walker Gold Label Reserve comes from this distillery.

18 Clynelish 1982 - 28 year old - 30th Anniversary 70cl 46.4% Silver Seal Bottling in 2011 Color: gold Nose: waxy, fresh, on juicy oaky, with some sweet and fresh fruity notes, and a touch of heather Taste: light, fresh, juicy, slightly waxy, with some mustard, ginger, sea brine, apples and a touch of heather. Slightly thin. The finish is light, fresh, juicy, oaky, slightly mustardy, with some tobacco smoke and light heathery notes. Diluted, it becomes spicier and more mustard Impression: a nice light and fresh Clynelish, with little wood influence allowing the character of the distillery to speak HK$3,500-4,500 25

SILVER SEAL & INDEPENDENT BOTTLERS SINGLE MALT WHISKY & RUM EVENT

Glenury Royal was founded in 1825 near Stonehaven, Aberdeenshire in the Eastern Highlands by Captain Robert Barclay. The name of the distillery was taken from the nearby Glen in the district of Ury. Barclay himself was a colourful character: as well as being the Laird of Ury and the local MP (Kincardine), he was also a famous athlete who had walked from London to Birmingham in two days in 1799. He also had the somewhat peculiar distinction of being the first person to have walked 1000 miles in 1000 hours, a feat he accomplished in 1808.

Barclay's prominence created an advantage for the fledgeling distillery: in 1835, through the influence of a friend in court (referred to only as Mrs Windsor), he was able to secure permission from King William IV to attach the epithet 'Royal' as a suffix to the name of his newly-constructed Glenury Distillery. Only Royal Lochnagar and Royal Brackla share this privilege.

The distillery had been built partly to stave off the effects of an agricultural depression by providing the local farmers with a ready market for their barley. It remained under the stewardship of Captain Barclay until his death in 1847, after which it was put up for sale.

Glenury Royal was purchased in 1852 by William Ritchie of Glasgow, whereupon it fell dormant for six years. Reopening in 1858, it became a limited company in Ritchie's name in 1890. The Ritchie family company owned the distillery until 1938, when it was sold to Associated Distillers Ltd for ÂŁ7500, and following another silent period during WWII the distillery became the property of Distillers Co Ltd (DCL, later Diageo) in 1953.

DCL refurbished the distillery in 1965-66, doubling the number of stills from two to four. In 1968, though, it was decided that the 19th century malting floors would be better employed as storage for empty casks, after which the distillery had to buy in its malted barley from outside.

The kilns were demolished in 1979.

Glenury Royal fell silent during the slump in 1983 and was closed for good in 1985. Ownership was transferred to United Distillers in 1986, but the license was returned in 1992 and the following year the site was sold to private developers who promptly demolished the distillery and built some houses.

19 Glenury 1980 - 20 year old Closed Distillery Silver Seal single cask bottling 70cl Matured in sherry 50% Bottle Number 430 of 620 A very rare bottling of 1980 vintage Glenury Royal from Italian bottlers Silver Seal. Just 75 bottles were released in July 2001 after 20 year maturation in a sherry cask.

HK$5,000-6,000

WWW.SPINK.COM

APRIL 19, 2014 - HONG KONG

Converted into a distillery in 1957, Lochside was previously the site of an 18th-century brewery.

The founder was Joseph W Hobbs, a famous figure in the industry who also owned Ben Nevis, Bruichladdich, Glenkinchie, Glenesk, Benromach and Glenury Royal.

Most of the production went into the successful Sandy McNab blend during the 60s and 70s, but the distillery was mothballed by eventual owners Allied Domecq in 1992 and dismantled in 1997.

Both malt and grain whisky was made at Lochside for a time, but following Hobbs's death in 1964 the Coffey still was removed in 1970.

After a troubled spell under different ownerships throughout the 1970s and 80s, the distillery passed into the hands of Allied Lyons (later Allied Domecq) in 1992. Production was stopped the same year and the distillery was never to re-open, being dismantled in 1997 before demolition between 1999-2005.

The only official bottling of Lochside was a 10 year old released in 1991, the year before the distillery was closed.

The distillery character was sweet and floral, and some independent bottlings survive - along with a delicious 'single blend' Lochside released under the 'Scott's Selection' label a few years ago, which comprised both grain and malt whisky produced at the distillery and married immediately after distillation before being left to mature - a practice unique to Hobbs' distilleries (the same thing was done at Ben Nevis).

20 Lochside 1979 - 21 year old 70cl 50% Closed Distillery Silver Seal Bottling Bottle Number 28 of 236 HK$7,500-8,500 27

SILVER SEAL & INDEPENDENT BOTTLERS SINGLE MALT WHISKY & RUM EVENT

CAMPBELTOWN Campbeltown today is a strangely sober and robust town at the end of the Kintyre peninsula.

In the middle of the 19th century it was a thriving centre for whisky production with the town being home to 34 distilleries at its peak allowing it to proclaim itself to be "the whisky capital of the world". Today there are only two distilleries in Campbeltown, Glen Scotia and Springbank.

Of these two Springbank is by far and away the most successful. The distillery, produces three distinct types of whisky (the only two other distilleries to produce more than one are Loch Lomond and Tobermory).

Springbank is quite unusual in that unlike most brands of whisky it is not chill-filtered, nor does it have colour added. The spirit is aged in ex-bourbon and ex-sherry casks, although Springbank is experimenting with rum casks as well. The standard 10 year old bottling is available at 46% volume, but a 100째 proof bottling (at 57% volume) is also available. They also produce a somewhat darker 15 year old. A 21 year old variety of Springbank exists, but is increasingly rare. Springbank is also one of the very few distilleries in Scotland to perform every step in the whisky making process, from malting the barley to bottling the spirit, on same premises.

In recent years the Springbank distillery has also brought an old distillery back from the dead. Some 200 metres away down a small back street is the Glengyle distillery.

In late 2000 the company of Mitchell's Glengyle Ltd was formed with the express purpose of renovating and rebuilding the Glengyle distillery. Mitchell's are associated with the Springbank distillery and both operations come under the guidance of Mr Hedley Wright, a descendant of the Mitchell Family, the original owners of both businesses.

Over the next four years the buildings were repaired to an adequate standard, being restored in line with the local area and the buildings' listed building status (Protected by law). A new pair of giant stills from Invergordon, malt mills, a mash tun and washbacks were installed along with all the related equipment. Production at the new Glengyle distillery began in 2004 with the first spirit expected to be ready by 2014.

The whisky from the new Glengyle distillery will not be called Glengyle, rather it will be bottled under the name Kilkerran. This is both to avoid confusion with the vatted malt of the same name and also because traditionally, Campbeltown malts are not named after a Glen.

The exception to that rule is of course Glen Scotia. Generally, Glen Scotia is a lightly smoky, salty single malt with a quite concentrated nose and good length despite a delicate structure.

21 Springbank 1992 - 17 year old 30th Anniversary Collection Silver Seal Bottling 2009 Sestante Collection 150cl 46% Bottle Number 3 of 30 HK$7,000-8,000

WWW.SPINK.COM

APRIL 19, 2014 - HONG KONG

22

23

Springbank 1970 - 33 year old 70cl 53.1% Distilled 1st December 1970 Bottled 25th November 2003 Cask Number 2966 Bottle Number 169 of 186

Springbank 1972 - 31 year old 70cl 46% Distilled 24th November 1972 Bottled 15th April 2003 Cask Number 759 Bottle Number 53 of 242

HK$12,000-14,000

HK$10,000-12,000 29

SILVER SEAL & INDEPENDENT BOTTLERS SINGLE MALT WHISKY & RUM EVENT

SPEYSIDE Fruity & Delicate Over half of Scotland’s malt whisky distilleries can be found within this one region. Speyside - the lush, fertile valley of the River Spey - is undoubtedly the heart of single malt whisky distilling in Scotland.

It’s classic flavours of honey, vanilla and fresh fruits (apples, pears) combine to create whiskies that are both sophisticated and elegant. With age, and especially when matured in sherry casks, they evolve to deliver dried fruit and sweet spice flavours.

Dailuaine (pronounced 'dale-YOU-an') is a single malt whisky distillery in Charlestown-of-Aberlour, Strathspey,Scotland.

The Distillery was founded in 1852 by William Mackenzie. When he died in 1865 his widow leased the distillery to James Fleming, a banker from Aberlour. Together with William Mackenzie's son he founded Mackenzie and Company.

1884 Dailuaine is renovated and enlarged. At this point it is one of the largest distilleries in the highlands. In 1889 Charles Doig builds the first pagoda in Scotland.

1891 Dailuaine-Glenlivet Distillery Ltd was founded. In 1898, Dailuaine-Glenlivet and Talisker Distillery Ltd are fused to Dailuaine-Talisker Distilleries Ltd. 1915 Thomas Mackenzie died and the company was sold to John Dewar & Sons, John Walker & Sons and James Buchanan & Co one year later.

1917 a big fire destroyed the pagoda-roof. The distillery had to close, reopened three years later and was bought by Distillers Company Limited (DCL) in 1925. 1960 the Distillery is completely renovated and is enlarged from four to six stills.

Since 1983 the malt is no longer produced in-house.

1987 Dailuaine was taken over by United Distillers.

24 Dailuaine 1976 - 37 year old 70cl 47% Silver Seal Bottling in 2013 Ex Bourbon Cask Number 5970 Bottle Number 124 of 139 HK$5,000-7,000 WWW.SPINK.COM

APRIL 19, 2014 - HONG KONG

Dufftown distillery was founded in 1895 as "DufftownGlenlivet Distillery".

26 Glen Avon 1958 - 38 year old 70 cl 40% Bottled by Gordon & MacPhail in 1996 A mysterious & secret bottling from Gordon and MacPhail, this Glen Avon single malt was distilled in 1958 at an unnamed Speyside distillery and matured in first fill sherry hogsheads.

25 Dufftown 1981 - 20 year old 70cl Matured in sherry 50% Silver Seal single cask bottling Bottle Number 299 of 375 Silver Seal classic bottle - Blue tilted stripe in white label - Cork drive with silver capsule

Nose: medium-bodied with notes of tree fruits and stone fruits, a touch of star anise and Sauternes with a herbal character Palate: good body with a superb richness, there are notes of botrytized grapes with requisite sugar, also notes of malmsey and calvados Finish: long and gracefully with rich fruit notes

HK$4,500-5,500

HK$8,000-10,000 31

SILVER SEAL & INDEPENDENT BOTTLERS SINGLE MALT WHISKY & RUM EVENT

27

28

Glenfarclas 1971 - 40 year old Distillery bottling "The Family Cask Series" in conjunction with Silver Seal 70cl 52% Cask Number 148 Total 473 bottles from a 1st fill sherry cask

Glenfiddich 1964 - 40 year old 70cl 47.5% Silver Seal single cask bottling from 1st fill sherry hogshead Bottle Number 56 of 60

Nose: starts pretty compact with precious wood and dried fruits.

Grows wider: Banyuls and Portuguese ginjha. Dates, figs, rumsoaked raisins. Some dry wood smoke and walnuts. Hints of beef stock. Some cardamom. Quite heavy overall, but more complex than most other heavily sherried whiskies Mouth: rich, with sweet, herbal and softly sour flavours. Cherry pie, prunes, raisins, figs, Christmas cake. Strawberry jam and milk chocolate. Hints of gingerbread and liquorice, but it’s nicely un-oaky, classic Finish: long, spicier and drier, but still a lot of dried fruits, nicely sweet & sour without showing too much wood or bitterness alongside it A classic example of Glenfarclas’ heritage.

A very rare and much sought after bottling.

HK$15,000-18,000

HK$6,000-8,000 WWW.SPINK.COM

APRIL 19, 2014 - HONG KONG

Glen Grant is a malt with a bit of a split personality in some ways. On one hand, in its best known form, it is a largevolume, hugely popular young malt whisky in Europe, where it is usually sold as a very mild, light five year-old or with no age statement at all.

This side of Glen Grant is very popular with young people, particularly in Spain, France and Italy, where it is normally drunk with cola. In the UK, the most frequently-seen official release is the ten year old.

The other side of Glen Grant is as a Speyside distillery with real heritage - producing one of the first single malts to be bottled as such, thanks to a decades-long symbiotic relationship with local whisky bottler Gordon & MacPhail, who have been bottling Glen Grant since at least the 1930s.

This relationship continues to this day, with the Elgin-based independent bottler releasing a supply of malts that continue to confirm that Glen Grant is one of only a handful of Speyside distilleries (the others including Macallan, Mortlach and Glenfarclas) producing a spirit that is capable of withstanding up to and over half a century of ageing in sherry casks.

Glen Grant was also the first distillery to bottle their own malt themselves, the first to install electric lighting (in 1861) and was the only Scottish distillery named after its owners, the Grant family (the distillery is now controlled by the Campari group).

Glen Grant merged with Glenlivet in the 1950s and the new company joined with Longmorn-Glenlivet in the 1970s, before bought by Seagram and ending up with Pernod Ricard after their joint takeover of Seagram with Diageo in 2001.

Campari bought the distillery in 2006 and, after revamping the standard lines, are now experimenting with some older official bottlings, the first of which was a single cask 15 year old.

29

30

Glen Grant 1949 - 33 year old 75cl 40% An original Sestante Import Crystal Decanter & Crystal Stopper

Glen Grant 1974 - 37 year old 70cl 49.3% Berry Brothers bottling in 2012 Cask Number 7646

A very rare and extremely desirable Glen Grant in a beautiful crystal decanter.

This is a classic example of 1970s sherried Speyside whisky - a real gem.

HK$19,000-20,000

HK$3,000-4,000 33

SILVER SEAL & INDEPENDENT BOTTLERS SINGLE MALT WHISKY & RUM EVENT

The origins of Glenlivet Distillery can be traced back to 1815 but it is well known that illicit distilling was going on long before then. In 1817 George Smith leased some land at Upper Drumin Farm, where he continued illicit distilling to supplement his crofters wage. During 1823 an Excise Act was pushed through by the Duke of Gordon - Smiths's landlord - to stop illicit distilling. Gordon then persuaded Smith to take out the first licence and he also helped to set up the distillery at Drumin. Due to the success of Glenlivet, a number of distilleries in the region appended the name Glenlivet to their own. In 1880 J G Smith took legal action and the court ruled that there was only one 'The Glenlivet'.

31 Glenlivet 1961 75cl 40% Bottled by Gordon & MacPhail This is the same original label that Glenlivet has used since the 1800’s.

AROMA WITHOUT WATER Soft and sweet with a delicate touch of summer fruits and a hint of charred oak.

TASTE WITHOUT WATER The palate is mouth warming with hints of black pepper and delicate ripe fruit flavours; banana and mango.

AROMA WITH WATER Subtle honey and vanilla aromas with a touch of beeswax. Hints of green apples develop.

TASTE WITH WATER Black pepper initially with vanilla and ripe banana flavours. Becomes creamy with a milk chocolate and orange edge.

HK$9,000-10,000 WWW.SPINK.COM

APRIL 19, 2014 - HONG KONG

32

33

Glenlivet 1967 - 45 year old 70cl 43% Bottled by Gordon & MacPhail in 2012

Glenlivet 1970 - 39 year old 70cl 54.4% Distilled February 1970 Bottled September 2009 Matured in oak cask Cask Number 2003 Bottle Number 73/98

HK$5,500-6,500

HK$4,000-6,000 35

SILVER SEAL & INDEPENDENT BOTTLERS SINGLE MALT WHISKY & RUM EVENT

34

35

Glenlivet 1974 70cl 43% Bottled by Gordon & MacPhail under the George G Smith label

Glenlivet 1975 - 30 year old 70cl 55.2% Silver Seal Sestante Collection

HK$4,500-5,500

Forming part of the Sestante range, this limited edition Glenlivet was distilled in 1975 and bottled in 2006 making it 30 years old. Bottle number 136 of only 300 and bottled at natural cask strength - a great collectors whisky bottled by the Silver Seal Whisky Co, Ltd, Glasgow.

HK$5,000-6,000 WWW.SPINK.COM

APRIL 19, 2014 - HONG KONG

The distillery known as Linkwood has had various incarnations. The original distillery was built in 1821 on the southern outskirts of Elgin by one Peter Brown. However, his distillery was completely demoplished and rebuilt by his son William in the 1870s.

A new stillhouse with four new stills was added in the 1970s and is now the focus of malt production - the old washbacks are the only part of the old distillery still in use today.

Linkwood is a part of Diageo's portfolio of distillerieas, having been in the possession of Scottish Malt Distillers/Distillers Company Ltd since the 1930s.

Shortly after the DCL takeover in 1936, the distillery was run by a superstitious Gael called Roderick Mackenzie, who famously refused to remove even the cobwebs in the stillhouse in case it affected the quality of the spirit.

Linkwood has long been prized by blenders, and the vast majority of production goes into Diageo's Johnnie Walker and White Horse blends. The standard expression is the Flora and Fauna 12yo, but this was joined in the official bottlings in 2008 by three double-matured versions that had spent their last 14 years of maturation in Port, Rum and Red Wine casks.

36

37

Linkwood 1939 - 48 year old 75cl 40% Distilled in 1939 Bottled in 1987 Original Sestante Import

Linkwood 1970 - 40 year old 70cl 45% Distilled 23 February 1970 and bottled November 2010 Refill Sherry Butt Cask Number 811 Bottle Number 253 of 450

HK$13,000-15,000

HK$6,500-7,500 37

SILVER SEAL & INDEPENDENT BOTTLERS SINGLE MALT WHISKY & RUM EVENT

Longmorn Distillery is in Longmorn, Moray, within the Strathspey area. The Longmorn Distillery Company was founded in 1893 by John Duff, Charles Shirres and George Thomson. Duff was a former manager of the Glendronach Distillery and the Bon Accord Distillery in Aberdeen, and was the founder of the Glenlossie Distillery, as well as being involved with unsuccessful distilleries in Cape Town and the USA. Longmorn Distillery started production in December 1894. Three years later John Duff built the Benriach Distillery next to Longmorn, but both were affected by the collapse of wholesale buyers Pattison, Elder and Co in 1898. Duff was ruined by the collapse, and Longmorn Distilleries Company Ltd. passed through a variety of ownerships. In 1970, Longmorn joined The Glenlivet and Glen Grant to form The Glenlivet Distillers Ltd. This was bought by Chivas Brothers in 1978, and in 2001 Chivas Brothers was acquired by the French Pernod Ricard Group.

38 Longmorn 1965 - 46 year old 70cl 51.8% Bottled by Gordon & MacPhail Distilled in 1965 and bottled 25 October 2011 First Fill Sherry Butt Cask Number 370 The label design is adapted from the book of Kells, circa 700AD. HK$12,000-15,000 WWW.SPINK.COM

APRIL 19, 2014 - HONG KONG

39

40

Longmorn 1981 - 30 year old 70cl 50.3% Silver Seal single cask bottling Bottle Number 41 of 205

Longmorn 1992 - 21 year old 70cl 58.8% Silver Seal single cask bottling Cask Number 71758 Bottle Number 91 of 202

HK$4,500-5,500

HK$3,000-4,000 39

SILVER SEAL & INDEPENDENT BOTTLERS SINGLE MALT WHISKY & RUM EVENT

Macallan (ma-CALLAN) Alexander Reid first acquired his distilling licence for Macallan in 1824, and as such is one of the first to be licensed in Speyside. Originally Macallan used water from Ringorm Burn, however it is now retrieved from the River Spey of which the company own a mile stretch purely for their supply! The barley Macallan uses comes from the Tamdhu maltings and it is Golden Promise barley. They use this particular barley because it gives a consistent flavour and quality.

Macallan gets its very winey taste because they only ever use Spanish oak sherry casks. Macallan have a huge variety of single malts available and they are also amongst the top five best-selling single malts in the world. Macallan also has a great visitor centre should you ever be in Scotland.

41 Macallan-Glenlivet 1940 - 37 year old 75cl 40% Matured 37 years in sherry wood Bottled by Gordon & MacPhail HK$19,000-22,000 WWW.SPINK.COM

APRIL 19, 2014 - HONG KONG

42

43

Macallan-Glenlivet 1961 75cl 43% Matured 15 years in sherry wood Bottled by Gordon & MacPhail

Macallan-Glenlivet 1962 75cl 43% Matured 15 years in sherry wood Bottled by Gordon & MacPhail

Hand stenciled flowers on the bottom of bottle under the label.

HK$14,000-15,000

HK$15,000-16,000 41

SILVER SEAL & INDEPENDENT BOTTLERS SINGLE MALT WHISKY & RUM EVENT

44

45

Macallan 1964 - 47 year old 70cl 43% Bottled by Gordon & MacPhail in 2011 Speymalt

Macallan 1965 - 47 year old 70cl 43% Bottled by Gordon & MacPhail in 2012 Speymalt

HK$15,000-16,000

HK$14,000-15,000 WWW.SPINK.COM

APRIL 19, 2014 - HONG KONG

46

47

Macallan 1971 - 23 year old 70cl 43% Bottled by Hart Brothers

Macallan 1971 - 27 year old 70cl 53.8% Matured in a single sherry butt Signatory single cask bottling Bottle Number 83 of 330

HK$8,500-9,500

HK$8,000-9,000 43

SILVER SEAL & INDEPENDENT BOTTLERS SINGLE MALT WHISKY & RUM EVENT

48

49

Macallan 1976 - 27 year old 1 liter 43% Silver Seal Bottling Unique Antique Crystal Decanter 1930 Solid Dutch Silver Crystal Decanter

Macallan 1981 - 32 year old 70cl 43% Bottled by Gordon & MacPhail in 2013 Speymalt

HK$28,000-38,000

HK$8,500-9,500

WWW.SPINK.COM

APRIL 19, 2014 - HONG KONG

50

51

Macallan 1988 - 18 year old 70cl 57.1% Silver Seal Sestante Collection Bottled in 2006 Bottle Number 116 of 300

Macallan 1989 - 21 year old 150cl 52% Silver Seal single cask bottling Bottle Number 3 of 30 Ideal for sherry fanatics who prefer the Macallans from a bygone era. It's been aged in years in Sherry Oak for 21 years, the color is golden amber, on the palate rich, complex, beautiful integration of sherry oak and whisky, toffee and candy on the finish. Lingering long finish that keeps coming back, really a magnificent aged Macallan, superb!

HK$3,500-4,500

HK$8,000-10,000 45

SILVER SEAL & INDEPENDENT BOTTLERS SINGLE MALT WHISKY & RUM EVENT

52 Macallan 1989 Cask Born: April 20th 1989 Making it: 25 year old on April 20th 2014 Cask Number 16894 1st Fill Sherry Cask 52.5% cask strength Approximately 174 bottles (70cl at 52.5%) HK$650,000-750,000 WWW.SPINK.COM

APRIL 19, 2014 - HONG KONG

53

54

Macallan 1990 - 13 year old 70cl 46% Silver Seal single cask bottling Bottle Number 391 of 636

Macallan 1979 - 25 year old 70cl 53.2% Silver Seal single cask bottling Bottle Number 109 of 262

HK$3,000-4,000

HK$4,500-5,500 47

SILVER SEAL & INDEPENDENT BOTTLERS SINGLE MALT WHISKY & RUM EVENT

Officially founded in 1823 by James Findlater, it is believed that illicit whisky production had been taking place at Mortlach for many years prior to the license being granted.

The distillery changed hands a few times in the mid 19th-Century and was silent from 1837, when it was part-owned by James and John Grant, who promptly removed all the distilling apparatus for use at their new Glen Grant distillery. Having stripped what they wanted from Mortlach, the Grants sold their share of the distillery to their partner John Gordon, who had been running the buildings as a brewery since the removal of the stills. Gordon replaced the stills in the early 1850s before selling Mortlach on again. After expansion to six stills in 1897, the distillery was bought by John Walker and Sons in 1923, before becoming part of Distillers Company Ltd (later Diageo) in 1925.

Mortlach distillery is still owned by Diageo, and its large capacity (2.9million litres/year) enables it to be a major malt in the production of the Johnnie Walker blend, reflecting the spirit's huge popularity amongst blenders.

The standard bottling is a 16 year-old released under the Flora & Fauna rubric, but this is becoming more scarce recently and it is unclear whether another batch will be bottled when the present stocks run out. A handful of officially-bottled Rare Malt releases were released in the mid-1990s - coinciding with a major refurbishment at the distillery during which a semi-lauter mash-tun was installed - and a 34 year-old expression from 1971 was bottled by Diageo in 2004 as part of the Special Releases portfolio.

Mortlach had its own floor maltings until 1968, and remains one of only a handful of distilleries still using wooden worm tub condensers to cool their spirit. The distillery is also one of only three distilleries using 'partial triple distillation' as also practised at Benrinnes and Springbank.

The house style of is full, rich and robust, with the spirit showing a great affinity for sherrywood, resulting in some magnificent older botllings.

Independent bottlings from the likes of Gordon & MacPhail are fairly frequent and almost always of extremely high quality.

55 Mortlach 20 year old 75cl 43% Original Sestante Import A richly coloured and beautifully labelled 20 year old Mortlach, bottled in the 1980s by Italian independent bottler Sestante.

HK$13,000-14,000 WWW.SPINK.COM

APRIL 19, 2014 - HONG KONG

The Brackla distillery was built in 1812 by Captain William Fraser of Brackla House on the estate of Cawdor Castle.

The Brackla whisky produced was selected by King William IV of the United Kingdom to be his whisky for the Royal Court, which turned Brackla into the benchmark of Quality.

In 1833 Brackla Distillery became the first whisky distillery to be granted a Royal Warrant by order of King William IV of the United Kingdom. This made Royal Brackla one of only three distilleiess ever honoured to bear the name 'Royal', the others being active distillery Royal Lochnagar and demolished distillery Glenury Royal. Queen Victoria renewed the Royal Warrant in 1838.

56

57

Mortlach 1971 70cl 43% Bottled by Gordon & MacPhail

Royal Brackla 1976 - 36 year old 70cl 51.9% Silver Seal single cask bottling Bottle Number 33 of 106

HK$5,500-6,500

HK$5,000-6,000 49

SILVER SEAL & INDEPENDENT BOTTLERS SINGLE MALT WHISKY & RUM EVENT

Strathisla is a large-ish Speyside distillery now owned by Pernod under the Chivas Brothers mantle. Pernod acquired Strathisla, along with the rest of the Chivas group, in 2001 when they divvied up the spoils of the Seagram's takeover with Diageo.

Strathisla has long been associated with the Chivas Regal blended whisky, and the visitor centre at the distillery is called Home of Chivas Regal. The distillery itself was completed in 1786 (under the name of Milton or Milltown), making it one of the oldest distilleries from the 18th century still in existence today.

As would be expected, a distillery of such a large age must have seen its fair share of incident. Strathisla has had a fire (in 1876), an explosion in the malt mill (1879) and a dodgy crooked owner going to prison (Jay Pomeroy in the 1940s). This latter resulted in the distillery (which had reverted to its Milton sobriquet in 1890) being declared bankrupt in 1949, after which it was sold at auction to Chivas Brothers, who restored the Strathisla moniker in 1951.

Strathisla was named as one of the possible sources of the controversial Craigduff peated malt that was produced (either here or at Glen Keith) in the 1970s, but the paternity of this experimental dram has yet to be conclusively established.

However, with Pernod concentrating on other distilleries in the Chivas portfolio, and amidst a drive to push Chivas Regal back to the number one spot for deluxe blends (currently occupied by the usurper Johnnie Walker), it seems unlikely that the owners will add to the officially-bottled 12 year-old and distillery-only 15yo cask strength expressions currently available.

This is a pity, as Strathisla is recognised amongst the cognoscenti as one of only a handful of Speyside malts able to withstand collossal ageing in sherry casks.

58 Strathisla 1960 - 51 year old 70cl 43% Distilled 17.11.1960 Bottled by Gordon & Macphail 2 first fill sherry casks Cask Numbers 2537 and 2552 Extremely rare & wonderful over 50 year old Strathisla single malt drawn from just two ex-Sherry casks.

HK$8,500-9,500 WWW.SPINK.COM

APRIL 19, 2014 - HONG KONG

LOWLANDS Light & Fresh The terrain of the Lowlands is characterised by rolling fields which are ideally suited to growing grain for whisky. The softer landscape is mirrored in the region’s single malts which tend to be lighter in both colour and body, than those of the Highlands.

With little or no peat used in the drying of the malt, the whiskies distilled here are generally fresh and light, fragrant and floral with cereal flavourings.

Littlemill Distillery was a Scottish malt whisky distillery in Bowling, West Dunbartonshire. Situated on the border of Lowlands and Highlands, its products were generally classified as lowlands whisky. The year when whisky was first produced is uncertain. Littlemill was described as part of the purchase of Auchentorlie Estate in the 1750s. In 1772 houses had been constructed for excise officers, which is also the year Littlemill claimed as its foundation year, from which it claimed to be the oldest distillery in Scotland.

The distillery changed ownership to Matthew Clark & Co in 1817. After the Customs and Excise Act 1823 had passed, which allowed the distilling of whisky at much lower licence costs, Jane Macgregor became the licencee of Littlemill.

Around 1840 ownership went to Hector Henderson, who was also shareholder in the Campbelltown distillery in 1837 and founded the Caol Ila distillery. The distillery was rebuilt and expanded in 1875 by Hay, who then was the owner.

Littlemill closed in 1929 until it was bought and reopened by Duncan Thomas in 1931, who experimented at the distillery with different new techniques. He used a new design of a Saladin box for malting with two ventilation towers and a single kiln. The copper pot stills were aluminium coated, and used rectifying columns instead of swan necks to have greater control over the distillation process, and production switched from a triple distillation to a double distillation technique. In 1971 the distillery changed hands to Barton Distilling, who had been a shareholder since 1959. Barton was bought by Amalgamated Distilled Products in 1982, which joined the Argyll Group in 1984. In this year the Littlemill distillery closed. It was reopened and bought by Gibson International in 1989, closed down again in 1994 after Gibson International went bankrupt, and was sold to Loch Lomond Distillery. It was dismantled in 1997, and the remnants of the distillery were destroyed in a fire in 2004.

The distillery produced three different kinds of whisky, which was made possible through the rectifying columns on the stills: a heavily peated variety under the name "Dumbuck", a full bodied whisky named "Dunglas" and a light traditional lowland whisky under its own name "Littlemill". Dumbuck and Dunglas were discontinued in 1972.

59 Littlemill 1990 - 23 year old 70cl 54.8% Closed distillery Silver Seal Bottling 2013 Ex Bourbon Cask Number 33 Bottle Number 140 of 290 HK$3,000-4,000 51

SILVER SEAL & INDEPENDENT BOTTLERS SINGLE MALT WHISKY & RUM EVENT

The Ladyburn Distillery was founded in 1966 by William Grant and Sons Ltd. The whisky distillery sits on the same site as the grain distillery, Girvan; in fact, Ladyburn was not so much a new distillery, rather the addition of a further two sets of stills in a corner at the same complex. The two distilleries not only share a site, but also a place in Grant’s blended Scotch.

Ladyburn single malt whisky is rather rare, in stark contrast to its illustrious William Grant-owned siblings, Balvenie and Glenfiddich.

The Ladyburn stills were operational for a less than a decade, closing as they did in 1975. They were subsequently dismantled in 1976.

Ladyburn whisky is sometimes bottled under the name Ayrshire. Ladyburn drew its cooling waters from the Penwapple Reservoir. The reasoning behind the Ladyburn distillery was in part down to William Grant’s rather brave new stance with their flagship distillery, Glenfiddich. Rather than competing directly with the host of blended products that had long since saturated the market when Glenfiddich first came into being, Glenfiddich was released as a single malt.

There was some speculation whether this venture would work and it was necessary for there to be staple blended products to fall back on. Consequently, the Girvan complex came into being. Girvan also produced grain whisky and bottled a single grain whisky, namely Black Barrel.

60 Ayrshire Distillery 1970 - 30 year old 70cl 40% Ladyburn closed distillery Bottled by Gordon & MacPhail in 2000 A very very rare 30 year old Ladyburn. These types of bottles are most probably going to become the holy grails in future years.

HK$11,000-12,000 WWW.SPINK.COM

APRIL 19, 2014 - HONG KONG

"The finest example of a Lowland malt...a grievous loss" Michael Jackson's Malt Whisky Companion "Still regarded by many as the classic representative of the species...widely regarded as the most distinguished Lowland malt" Charles MacLean, 'The Pocket Whisky Book' "Rosebank has to be one of the top ten distilleries in the world" Jim Murray's Whisky Bible 2007 Built by James Rankine on the banks of the Forth-Clyde canal between Glasgow and Edinburgh in 1840 (although distilling is said to have been carried out on the site since the late 18th century), Rosebank became a limited company in 1894 and in 1914 was one of the founding members of the Scottish Malt Distillers Ltd (later to be taken over by DCL in 1929).

Silent from 1862-64, Rosebank was extensively rebuilt and refurbished in 1864-65 when it took over the maltings and other outbuildings of an older distillery, Camelon, that were situated across the road. Apart from a brief hiatus in 19171919 it produced steadily until its closure in 1993.

In the traditional Lowland style, Rosebank was triple-distilled, and its smooth floral whisky was much in demand for what is generally acknowledged as the best Lowland malt.

Prices will continue to rise as the supply of maturing casks runs out.

61 Rosebank 1975 - 30 year old 150cl 55.8% Closed Distillery Silver Seal single cask bottling Bottle Number 13 of 30 A super rare bottling of 1975 vintage Rosebank. This was bottled at 30 year old for the Silver Seal whisky company. A very rare and limited release of just 30 magnum-sized bottles.

HK$10,000-12,000 53

SILVER SEAL & INDEPENDENT BOTTLERS SINGLE MALT WHISKY & RUM EVENT

Blended Whisky

62 Mackinlays Rare & Old Highland Malt Whisky 70cl 47.3% Bottled and blended by Chas Mackinlay & Co An exact replica of the whisky left in Antarctica by Sir Ernest Shackleton during his Antarctic expedition between 1907 and 1909. The whisky was recreated down to the very last detail by Whyte and Mackay’s blender extraordinaire, Richard Paterson.

The final replica bottle of Mackinlay’s blend contains whiskies from Speyside, the Island, and the Highlands, and the recipe even includes some very rare 1983 Glen Mhor!

Color: light honey, straw gold with shimmering highlights Nose: soft, elegant & refined. Delicate aromas of crushed apple, pear and fresh pineapple arouse the senses. The spirit is exciting and vibrant with attractive notes of oak shavings that release hints of buttery vanilla, creamy caramel and nutmeg. A whisper of marmalade, cinnamon and even a tease of smoke, ginger and muscovado sugar completes this spectrum of delight Taste: with a generous strength of 47.3% this gives the spirit plenty of impact on the palate but in a mild warming manner. Harmonious and exhilarating. Whispers of gentle bonfire smoke slowly give way to spicy rich toffee, treacle and pecan nuts. These enticing flavours linger lovingly on the palate but are soon combined by a sensual, complex array of creme brulee, orange rind and freshly baked bread. It is a remarkable tapestry of tantalising taste sensations which truly rewards the palate HK$2,500-3,500 WWW.SPINK.COM

APRIL 19, 2014 - HONG KONG

Japanese Single Malt Whisky Independent Bottlings Karuizawa was actually a vineyard in 1955 when then-owner Daikoku-budoshu decided to enter a Japanese whisky industry still in it's infancy, and base a distillery in the shadow of active volcano, Mount Asama. In 1962, it then merged with current owner, Mercian.

The distillery is tiny and the aim is traditional, small-scale production to create quality whiskies. Karuizawa uses 100% Golden Promise barley, wooden washbacks, small stills and sherry casks sourced from Spain.

Karuizawa's whiskies are perhaps the closest you'll find to the Scottish malt style in Japan but they still have their own unique character. The water has been filtered through lava and the distillery also experiences very hot summers and extremely cold winters which results in a different maturation profile.

Highly sought after and normally sell out straight away upon release.

63 Karuizawa 1982 - 27 year old 70cl 56.1% Bottled in 2009 First Fill Sherry Cask Number 2748 Nose: sherry, cranberries, raisins, cedar wood, green fresh vegetables, earthy, burnt caramel with red berries Mouth: caramel with oak, sherry, peppery, smoky, roasted coffee beans Finish: sherry, wood, caramel, smoke, a bit tannin/bitter towards the end - not negative, celery sticks, drying Wow!!, this one isn't for the kids. Very complex, lots of things to discover.

HK$10,000-12,000 55

SILVER SEAL & INDEPENDENT BOTTLERS SINGLE MALT WHISKY & RUM EVENT

64

65

66

64 Karuizawa Noh - 27 year old 70cl 59.1% Bottled in 2011 by The Number One Drinks Company Cask Number 6405, 4973, 8184 & 6437 Sherry Butt & Bourbon Casks Karuizawa Noh is a very rare and sought after 27 year old Japanese single malt whisky, a multi-vintage batch #1 is a mix of four sherry casks from 1981/82/83/84 bottled in October 2011.

HK$10,000-12,000 65 Karuizawa 1970 - 42 year old 70cl 64.3% Bottled in 2012 by The Number One Drinks Company Ex Sherry Cask Cask Number 6177

67

66 Karuizawa 1969 - 42 year old 70cl 61.3% Bottled in 2012 by The Number One Drinks Company Ex Bourbon Cask Cask Number 8183 Nose: very bold bourbon oak influence. Different sorts of warm wood, sandalwood, cedar from cigar boxes, some thuja … this kind of oakiness is elegant and matches the oriental character.

There’s also varnish and solventy notes and leather. Underneath it has apricot jam, yellow plums and vanilla-coated berry cake.

Touches of mint, with floral overtones.

Mouth: this is where the wood starts to show more astrigency.

Fruits are now heavily infused fruit tea. Slightly tangy ginger and clove as well. A little coconut oil. Unfortunately also a planky note which coats your mouth and a little tobacco sourness. Orange peel. Spruce needles. Again some flowery touches.

Finish: long, quite floral and heady. Mint and traces of the apricot jam.

Nose: huge, clean sherry nose with dried fruits (dates, figs), fresh fruits (raspberries, plums, quinces, citrus) and a slightly curious (but quite enjoyable) smell of overdue bananas. Quite fragrant, with eucalyptus oil, polished cedar wood and hints of old roses, cocoa powder, turpentine, and a whole array of soft spices (cinnamon, ginger, cumin), very rich.

Mouth: whoa, hot. Full of raisins, plums, brambles, raspberries and oranges. A thick, jammy yet sparkling fruitiness. A peppery kick too (peppercorn and wasabi). Drying black thee and some woody tannins in the end.

Finish: long, with a nutty dryness and spicy notes (pepper, clove, mint). Still some raisins.

HK$16,000-18,000

This Karuizawa 1970 is showing the same kind of oakiness that’s present in most other 40+ whiskies, but the sherry brings enough fruits to make it a legendary experience.

This is a vintage cask release from Karuizawa, bottled exclusively for La Maison du Whisky, there were just 138 bottles take from this sherry cask.

HK$15,000-20,000

HK$13,000-16,000

67 Karuizawa 1973 - 39 year old 70cl 67.7% Distilled December 1973 Bottled July 2013 Ex Sherry Cask Cask Number 1607

WWW.SPINK.COM

APRIL 19, 2014 - HONG KONG

69

71

68

70

68

70

Karuizawa 1974 - 39 year old 70cl 57.2% Distilled April 1974 Bottled July 2013 Ex Sherry Cask Single Cask Number 6409

Karuizawa 1981 - 32 year old 70cl 57.3% 2013 Own bottling for La Maison du Whisky Bourbon Cask Number 8461 Total 186 bottles Color: full gold.

Nose: impressively oaky, we're wandering throughout a large carpenter's workshop and this is a very unusual and very pleasant feeling. Once these first feelings become subtler, some fudge, some quinces and a fistful of Havana cigars start to come through, together with more cellulose and cinnamon. Hints of cow stable too, tea. With water: rounder, with more sweet spices. Spicy sponge cake? A woodiness that's usually more to be found in some teas.

Mouth (neat): big and oaky again, with bags of bitter oranges too. It's rather a grassy kind of oak, quite acrid and very cinnamony, which makes it a little difficult when undiluted. A real fighter, we're very far from those vanilla bombs that pop out everywhere these days. With water: some kind of spicy apple juice! Also cinnamon and quinces.

Finish: long, still oaky, with a feeling of sawdust and tea.

This is a vintage cask release from Karuizawa, bottled exclusively for La Maison du Whisky, there were just 169 bottles take from this sherry cask.

HK$13,000-15,000 69 Karuizawa 1980 - 33 year old 70cl 60.3% Sherry Butt Cask Number 4556 Own bottling for La Maison du Whisky Color: amber.

Nose: it's fudge, chocolate, melons and melissa, and maybe that verbena as well, one can find some old bottles of 'Verveine du Velay' pretty easily and for cheap, they're always worth it, with water: same, it's rather more chocolaty and pretty drier than the 1981, maybe a little metallic too, but it's lovely.

Mouth (neat): thicker, more honeyed than the 1981, spicier and mintier as well, a lot of camphor, cough syrup, bitter oranges, touches of Spanish ham, probably some cranberry juice, even guava juice ... another one that's pretty perfect, with water: indeed, more menthol, more liquorice, maybe more wood extracts?

Finish: very long and quite terpenic.

HK$10,000-12,000 71 Karuizawa 1981 - 31 year old 70cl 60.5% Bottled July 2013 Number One Drinks Company Sherry Butt Cask Number 78

Another masterpiece.

Limited release of 375 bottles.

HK$11,000-13,000

HK$10,000-12,000 57

SILVER SEAL & INDEPENDENT BOTTLERS SINGLE MALT WHISKY & RUM EVENT

72

73

Karuizawa 1980 - 33 year old 70cl 62.1% Bottled in 2013 Own bottling for La Maison du Whisky Bourbon Cask Number6431 Total 124 bottles

Karuizawa 1981 - 3- year old 70cl 55.9% Distillery Bottling

Color: amber.

Nose: Jam, tamarind, incense, old white wines, raspberry jam, figs, mulled wine, maybe a little more wood smoke as well, roasted cashews Indian-style ... The whole is big but not overpowering so far, despite this super-high strength. With water: superb, it got more camphory, kind of medicinal, with some mint and melissa water.

Mouth (neat): very punchy but not overwhelmingly oaky, although there is an obvious tannicity. Just like on the nose, some fresh fruits (blood oranges, raspberries) manage to keep it very fresh and almost 'nervous'. Some chutneys too. With water: at times you would swear there's some sherry inside. A not-tooChristmassy Christmas cake, love these huge chocolaty notes, the oranges, the soft spices ...

Finish: long, with a punctuating oak rather than, well a dominating one.

Perfect label, very top shoulder

A rare bottle of whisky from Karuizawa, offering a great tasting overview of the distillery's character.

HK$9,000-11,000

HK$11,000-13,000 WWW.SPINK.COM

APRIL 19, 2014 - HONG KONG

Located between Tokyo and Yokohama in Kanagawa Prefecture, Kawasaki grain distillery is now closed. The remaining stocks were recovered by Ichiro Akuto for a few release bottled in single grain.

74

75

Karuizawa 45 year old 70cl 59.6% Distillery Bottling

Kawasaki 1982 70cl 65.5% Whisky Live Tokyo 2011 Cask Number 7414

This true rare and precious gem as its alias "Aqua of Life" which is a once-in-a-lifetime whisky.

A barely known closed distillery and it is a single grain to boot.

And a sherry cask!

Perfect label, very top shoulder

This Kawasaki was bottled for The Whisky Live Tokyo 2011 Expo 1982-2011.

HK$28,000-30,000

HK$8,000-10,000 59

SILVER SEAL & INDEPENDENT BOTTLERS SINGLE MALT WHISKY & RUM EVENT

Rums Demerara rum comes from Guyana, its made on the banks of the Demerara river in Guyana and ALL demerara rum comes from there regardless of where it may be aged and bottled. Its made from sugarcane grown on the coast of the county of Demerara, along the river banks and is distilled by the Demerara Disitllers Limited, the DDL. The DDL warehouse in Diamond can store up to a million and half bottles of rum.

THE HISTORY OF DEMERARA RUM From the beginning there were several sugar plantations and several stills …

Born on the banks of the Demerara river … but before that Guyana was a pristine land inhabited by Arawaks and Caribs. In 1498 Columbus came ashore - it was at the time when he recently had introduced sugarcane from the Canary Islands in the Caribbean.

Sugar was not produced on a large scale until the late 1700s, about 100 years later than in the rest of the Caribbean region, but because the plantation owners in Guyana entered the sugar industry late, they were able to import relatively advanced equipment for milling sugarcane.

The sugarcane was brought along sometimes in the 1640s when the early Dutch settlers came. The distilling wasn´t going to be introduced until later in the 1650s and then by the Brittish. This was very important because that´s what laid the foundation of the demerara rum production ending up with every sugar estate having their own still. And by the 1700s over 300 sugar estates produced their own rums - over 300 estates!! In 1732 the Port Morant Estate distillery was established and its one of the oldest in the world.

This distillery produced a rum of extra depth and character coming from the double wooden pot still - and the navy rum of the past was being produced there.

Also a third settlement was established – on the banks of the Demerara river in 1752 and it was called Demerara. In 1814 the three colonies were handed over to the brittish and so they became the Brittish Guyana in 1831. And a few years later - in 1834 - slavery was finally abolished and therefore plantation workers were now imported from Europe, China and India.

The rum that was being made and used was colonial rum of Brittish blending and the first OVD (Old Vatted Demerara) rums were made with Guyanese Port Morant as the major component.

76 Demerara Port Morant 1975 Rum - 37 year old Distilled at The Port Morant Distillery Silver Seal Single Cask Bottling 70cl 49.9% Cask Number 2042 Bottle Number 114 of 159 In presentation case, good label and level into neck HK$5,500-6,500 WWW.SPINK.COM

APRIL 19, 2014 - HONG KONG

77

78

Demerara Rum 1974 - 30 year old 75cl 54% Bottled by Silver Seal Product of British Guyana Bottle Number 21 of 60

Demerara Rum 1988 - 23 year old 150cl 50% Distilled at Enmore Distillery in Guyana Bottled by Silver Seal Bottle Number 28 of 30

A deeply coloured 30 year old rum from Port Morant in Jamaica.

Nose: clearly dry, bitter molasses, and some atypical brown baking spices, cumin, cardamom, and that sort of thing. Licorice, salty, tarry on burned rubber. Something also of tobacco, prune, and raisin. Rich and perhaps even a smidge bourbony. This is rich and begs to be nosed. Even the off-note (presumably from the rubber) is intriguing and adds to the density.

Palate: whoa! Unexpected! It starts out just a little quiet, but it's just a brief, half-second pause that brings you in closer. Then it rather explodes on bitter, almost sour molasses, pipe juice, salt, and licorice. It combines to give a burning liquid rubber note.

Burned prune and raisin skin. A bit even of a high quality coffee.

A little wax and smoky quality as well. Fabulous. Delicious.

Gone.

Finish: lasts for a while and turns a bit fruitier, almost in the finish of one of my favorite cognacs (Bouju's Tres Vieux Brut de Fut). This should tell you how it's going. More on licorice, salt, tarry rubber, coffee, and a drop of molasses. No retiring flower this. One of these big, heavy, and magical demerara.

HK$5,000-6,000

HK$6,000-8,000 61

SILVER SEAL & INDEPENDENT BOTTLERS SINGLE MALT WHISKY & RUM EVENT

The Caroni rum distillery had been in business since 1918 in Trinidad but it was closed in 2002 due to industry consolidation, leaving Angostura as the only active distillery in Trinidad and Tobago.

80 Caroni Rum 1997 - 16 year old 70cl 46% Distilled in Trinidad Island Single Cask Number 16 Bottle Number 188 of 290

79 Fine Old Cuban Rum Pre - 1962 Legend of Cuban Rum Bottled by Valdespino 70cl 45% It was released in very limited quantities only on the Italian market, this cuvee offers a rare opportunity to enjoy a rum dated from before the Cuban revolution and the rise to power of Fidel Castro.

Distilled in Cuba in the 40s, this rum was then imported into Spain, where it continued the aging in old oloroso casks in the cellars of the famous Casa Valdespino.

HK$6,000-8,000

Nose: very aromatic, with overripe banana and cinnamon sweetness as the first impressions. Then some marzipan and caramel. Typical Caroni hints of engine oil and tar as well.

Plenty of vanilla. Whiffs of mint. Very nice.

Mouth: pretty austere. Some oak resin mixed with earthy notes (dried mushrooms) and leather. Again a tarry note and something slightly medicinal. Some liquorice and spices. Burnt sugar too.

Finish: long, bold and tarry with a salty twist and whiffs of cinnamon. Good, slightly heavy rum with some unique traces of cognac and Islay-style aromas.

Caroni is closed but luckily we’ll be able to enjoy it during the years to come.

HK$2,500-3,000

WWW.SPINK.COM

APRIL 19, 2014 - HONG KONG

81

82

Jamaica Rum 1993 - 20 year old 70cl 50% Distilled in Hampden distillery Bottled by Silver Seal in 2013 Bottle Number 108 of 295

Jamaica Rum 1986 - 17 year old Bottled by Long Pond Distillery 150cl 46% The Long Pond Distillery was the original home of Captain Morgan Rum. The rums coming from the column still of Long Pond tend be more complex and elegant than all other Jamaican rums.

HK$2,500-3,000

1 of only 18 existing magnums of this kind in the world.

HK$6,500-7,500 THANK YOU 63

WWW.SPINK.COM

–––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––––

9/F, Malaysian Consulate Building 50 Gloucester Road Hong Kong Tel: +852 25 300 100 Fax: +852 25 266 128 email: china@spink.com

–––––––––––––––––––––––––––––––––––––––––––

MARCH 20, 2014 - HONG KONG

NAME ____________________________________________ _ _______ _ ___

WRITTEN BIDS FORM

This fo f rm should be sent or faxed to the ADDRESS _________________ _ ___________________________________ Spink auction office in advance of the sale.

References for new clients should be supplied in good time to be taken up f re the sale. Bids received lat a er than ________________________________ _ ____________________________ befo one hour befo f re the start of the sale may a not be processed.

________________________________ _ ____________________________ YOU CAN ALSO BID IN REAL TIME ON SPINK LIVE.

POSTCODE ___________________________________________________

Sale Title A UCTION TITLE

Date

Single Malt Whisky & Rum Event

at 2:00 p.m.

JUST VISIT WWW.SPINK.COM, REGISTER AND SIGN UP FOR THE SALE.

SaleAUCTION NO.

DAT A E

. PM SILVER SEAL & INDEPENDENT BOTTLERS Saturday 19 April 2014 Thursday 20 March 2014 at 6.00 An n Evening of Exceptional Spirits and Collectible Accessories

SFW07 SFW05

I request Spink, without legal obligat a ions of any n kind on its part, to bid on the fo f llowing Lots up to the price given below. w I understand that a if my m bid is successful the Purchase Price will be the sum of the final bid and Buyer’s premium as a percentage of the final bid. The Rat a e of Premium is 22% of the final hammer price of each lot.

I hav a e read and agreed to the terms and conditions fo f r buyers and notices about bidding and pay a ment methods published in this cat a alogu g e. I hav a e also seen the sale room notices published fo f r this sale and sat a isfied my m self as to the condition of the lots and the mat a ters refe f rred to in the cat a alogu g e description. I also understand that a Spink provides the service of executing bids on behalf of clients fo f r the conv n enience of clients and that a Spink will not be held responsible fo f r failing to execute bids. If identical commission bids are received fo f r the same Lot, the commission bid received first by Spink will take precedence. Please note that a you will not be notified if there are high g er written bids received. Any n personal info f rmat a ion collected by Spink will be used in accordance with our Terms and Conditions fo f r Buyers.

BIDDERS PLEASE NOTE OUR EXTENSION CLAU A SES IN OUR TERMS AND CONDITIONS FOR BUYERS PLEASE PRINT CLEARLY L IN BLOCK LETTERS AND ENSURE THAT A BIDS ARE IN HONG KO K NG DOLLARS Lot Number (in numerical order)

TEL. HOME

Price Bid HK$ (excluding Buyer’s Premium)

Lot Number (in numerical order)

Price Bid HK$ (excluding Buyer’s Premium)

Lot Number (in numerical order)

Price Bid HK$ (excluding Buyer’s Premium)

______________________________________________

TEL. OFFICE __________________________________ _ __________

___________________________ _ _________________________

E-MAIL _______________________________________ _ _________

NAT URE _______________________ _ ___________ _ _____________ SIGNA

VAT NUMBER ________________________________ VA _ ___________

FA X

Please indicat a e the type of card:

V ISA

MASTERCARD

PAYMENT MADE BY MASTERCARD OR VISA ARE SUBJECT TO A 3% SURCHARGE CARD NO: SIGNA NAT URE

STA T RT DAT A E: EXPIRY R DAT A E

ISSUE NO:

SECURITY CODE:

NAME (ON CREDIT CARD)

DIRECT BANK TRANSFER ACCOUNT NAME: Spink China Limited 01287500470625 ACCOUNT NO.: BANK ADDRESS: Bank of China Tower, 1 Garden Road, Central, Hong Kong

E

C B O L U S B O TGF S Bank of China (Hong Kong) Limited BKCHHKHHXX XXX SWIFT CODE: JS F D U

ANK:

Please charge all purchases to my m card Do not charge my m card. I will arrange to send pay a ment. (Spink will only charge your card should you default on the pay a ment terms agreed) Please hold my m purchased lots fo f r collection

65

Continued ...

Date DATE

. PM Saturday 19 April 2014 Thursday March 2014 6.00 Friday 1720January 2014atat 6.00 PM

at 2:00 p.m.

Sale NO. AUCTION

SFW07 SFW05

PLEASE PRINT CLEARLY IN BLOCK LETTERS AND ENSURE THAT BIDS ARE IN HONG KONG DOLLARS Lot Number (in numerical order)

Price Bid HK$ (excluding Buyer’s Premium)

Lot Number (in numerical order)

Price Bid HK$ (excluding Buyer’s Premium)

Lot Number (in numerical order)

Price Bid HK$ (excluding Buyer’s Premium)

REFERENCES REQUIRED FOR CLIENTS NOT YET KNOWN TO SPINK

I authorise Spink to request financial reference from my bank and contact the auction houses or dealers stated as my trade reference.

I agree that in order to confirm references Spink disclose my details to these third parties.

TRADE REFERENCES BANK REFERENCES

```````````````````````````````````````````````````````````````````````````````````````` ````````````````````````````````````````````````````````````````````````````````````````````````````

WWW.SPINK.COM

MARCH 20, 2014 - HONG KONG Conditions of Business (b) to rescind the sale of that or any other lots sold to the defaulting buyer at the same or any other auction;

Spink Fine Wines and Buyer hereby agree to the following terms and condi-tions for auctions conducted by Spink Fine Wines:

(c) to re-sell the lot or cause it to be re-sold by public auction or private sale and the defaulting buyer shall pay to Spink Fine Wines any resulting deficiency in the ‘total amount duel (after deduction of any part payment and addition of re-sale costs) and any surplus shall belong to the seller.

1 The Buyer The highest bidder shall be the buyer at the ‘hammer price’ and any dispute shall be settled at the auctioneer’s absolute discretion. Every bidder shall be deemed to act as principal unless there is in force a written acknowledgement by Spink Fine Wines that he/she acts as agent on behalf of a named principal.

(d) to remove, store and insure the lot at the expense of the defaulting buyer and, in the case of storage, either at Spink Fine Wines or elsewhere;

2 The Premium The buyer shall pay to Spink Fine Wines a premium of 22% of the hammer price on all lots.

(e) to charge interest at a rate of not exceeding 2% per month on the ‘total amount due’ to the extent it remains unpaid for more than 7 working days after the day of the auction;

3 Bidder Registration Bidding is strictly by paddle only. All floor bidders are requested to register prior to bidding.

(f) to retain that or any other lot sold to the same buyer at the same or any other auction and release it only after payment of the ‘total amount duel;

4 Payment Immediately after a lot is sold the buyer shall:(a) give to Spink Fine Wines his name and address and, if so requested, proof of identity: and (b) pay to Spink Fine Wines the ‘total amount due’.

(g) to reject or ignore any bids made by or behalf of the defaulting buyer at any future auctions or obtain a deposit before accepting any bids in future; (h) to apply any proceeds of sale then due or at any time thereafter becoming due to the defaulting buyer towards settlement of the ‘total amount due’ and to exercise a lien on any property of the defaulting buyer which is in Spink Fine Wines’ possession for any purpose.

5 Any payments by a buyer to Spink Fine Wines may be applied

by Spink Fine Wines towards any sums owing from that buyer to Spink Fine Wines on any account whatever without regard to any directions of the buyer or his agent, whether express or implied.

10 Liability of Spink Fine Wines and Sellers All goods are sold “AS IS”. Illustrations in catalogues are for identification only. Buyers should satisfy themselves prior to the sale as to the conditions of each lot and should exercise and rely on their own judgment as to whether the lot accords with its description.

6 Ownership The ownership of the lot purchased shall not pass to the buyer until he has made payment in full to Spink Fine Wines of the ‘total amount due’.

7 Collection of Purchases (a) The buyer shall at his own expense take away the lot purchased not later than 7 working days after the day of the auction but not before payment to Spink Fine Wines of the ‘total amount due’.(b) The buyer shall be responsible for any removal, storage and insurance charges on any lot not taken away within 8 working days after the day of the auction.

11 Unsold Lots Spink Fine Wines reserves the right to charge commission up to one- half of the ‘stated rates’ calculated on the ‘reserve price’ and in addition ‘expenses’ in respect of any unsold lots.

8 Buyers responsibilities for lots purchased The buyer will be responsible for loss or damage to lots purchased from the time of collection or the expiry of 7 working days after the day of the auction, whichever is the sooner, and neither Spink Fine Wines nor its respective staff or agents shall thereafter be responsible for any loss or damage of any kind, whether caused by negligence or otherwise, while any lot is in their custody or under their control.

13 Any representation or statement by Spink Fine Wines in any catalog as to authorship, attribution, genuineness, origin, date, age, provenance, condition or estimated selling price is a statement of opinion only. Every person interested should exercise and rely on his own judgment as to such matters and neither Spink Fine Wines nor its respective staff or agents are responsible for the correctness of such opinions.

12 Spink Fine Wines sells as agent for the seller and as such is not responsible for any default by seller or buyer.

14 While the interests of prospective buyers are best served by attendance at the auction, Spink Fine Wines will, if so instructed, execute bids on their behalf, neither Spink Fine Wines nor its respective staff or agents being responsible for any neglect or default in doing so or for failing to do so.

9 Remedies for non-payment or failure to collect purchases If any lot is not paid for in full and taken away in accordance with Conditions 4 and 7. or if there is any other breach of either of those Conditions, Spink Fine Wines as agent of the seller shall, at its absolute discretion and without prejudice to any other rights they may have, be entitled to exercise one or more of the following rights and remedies:(a) to proceed against the buyer for damages for breach of contract;

15 Spink Fine Wines shall have the right at its discretion to refuse admission to its premises or attendance at its auctions to any person.

67

16 Spink Fine Wines has absolute discretion without giving any reason to refuse any bid, to divide any lot to combine any two or more lots, to withdraw any lot from the auction and in case of dispute to put up any lot for auction again.

17 (a) Any indemnity under these Conditions shall extend to all actions, proceedings, costs, expenses, claims and demands whatever incurred or suffered by the person entitled to the benefit of the indemnity. (b) Spink Fine Wines declares itself to be trustees for its respective relevant staff and agents of the benefit of every indemnity under these Conditions to the extent that such indemnity is expressed to be for the benefit of its staff and agents.

18 Any notice by Spink Fine Wines to a seller, consignor, prospective bidder or buyer may be given by pre-paid mail in Hong Kong or Macau or airmail outside Hong Kong and Macau and if so given shall be deemed to have been duly received by the addressee one week after posting.

19 These Conditions shall be governed by and construed in accordance with Hong Kong law. All transactions to which these Conditions apply and all matters connected therewith shall also be governed by Hong Kong law. Spink Fine Wines hereby submits to the exclusive jurisdiction of the Hong Kong courts and all other parties concerned hereby submit to the non-exclusive jurisdiction of the Hong Kong courts.

20 In these Conditions of business:(a) ‘catalog’ includes any advertisement, brochure, estimate, price list and other publication; (b) ‘hammer price’ means the price at which a lot is knocked down by the auctioneer to the buyer; (c) ‘total amount due’ means the ‘hammer price’ in respect of the lot sold together with any premium, and additional charges and expenses due from a defaulting buyer in Hong Kong dollars; (d) ‘sale proceeds’ means the net amount due to the seller being the ‘hammer price’ of the lot sold less commission at the ‘stated rates. and ‘expenses’ and any other amounts due to Spink Fine Wines by the seller in whatever capacity and howsoever arising; (e) ‘expenses’ in relation to the sale of any lot means Spink Fine Wines’s charges and expenses for insurance, illustrations, special advertising, packing and freight of that lot.

NOTICE Bids If instructed, Spink Fine Wines will execute bids, and advise the intending purchaser. Lots will always be bought as cheaply as is allowed by such other bids or reserves as are on Spink Fine Wines’ books. Bids may be placed in writing before the commencement of the sale by giving to Spink Fine Wines a bid form for the lot, duly filled in with the name, contact phone number(s), full address of the buyer, number of the lot, and amount of the bid in Hong Kong dollars. All bids when placed by telephone are accepted only at the sender’s risk, and must be confirmed to Spink Fine Wines in writing, or by facsimile, before the sale.

Clearance of Purchases In order to avoid delay in clearing purchases, buyers unknown to Spink Fine Wines are advised to make arrangements before the sale for payment or for references to be supplied. If such arrangements are not made, checks will be cleared before purchases are delivered.

Purchase by Non-Residents Purchases made by non-residents in Hong Kong may be exported on the instructions of the buyer at his expense.

Payment shall be made in the full amount equivalent to the successful bid in Hong Kong dollars. Shipping instructions may be given upon payment to Spink Fine Wines.

Please note some lots are marked EU to indicate that they are lying within the European Union tax free for export from their country of origin.

Applicable local tax and/or duty will apply for local delivery outside of Hong Kong.

Currency Converter A currency converter will be operated at our auctions but only for the guidance of bidders. All foreign currency amounts displayed are approximations based on recent exchange rate information and may not be relied upon to calculate any invoices or statements. Spink Fine Wines assumes no responsibility for any error or omission in foreign or Hong Kong currency amounts shown.

THE SALE WILL BE CONDUCTED IN HONG KONG DOLLARS.

21 The headings in these Conditions do not form part of the Conditions but are for convenience only.

WWW.SPINK.COM

MARCH 20, 2014 - HONG KONG GUIDE FOR ABSENTEE BIDDERS

BIDDING INCREMENTS (HK$)

ABSENTEE BIDS If you are unable to attend an auction in person, and wish to place bids, you may consider instructing Spink Fine Wines Bid Department to bid on your behalf. Upon receiving your written instructions, our representative will make every effort possible to try to acquire the lot(s) of your choice at the lowest price possible, and never to exceed the top limit you indicate.

This service is complimentary and with strict confidence. Spink Fine Wines offer this value-added service as a convenience to our clients who are unable to attend the auction, however, Spink Fine Wines will not be held responsible for error, omission or failure to execute bids.

500-2,000

100

2,000-3,000

200

3,000-5,000

200 or 300

5,000-10,000

500

10,000-20,000

1,000

20,000-30,000

2,000

30,000-50,000

2,000-3,000

PLACING ABSENTEE BIDS To place bids, please use the absentee bid form provided in the catalog. Be sure to accurately record the lot number(s) and the top price you are willing to pay for each lot “Buy” bids will not be accepted. Always indicate a “top limit” - the amount to which you would bid if you were attending the auction yourself

50,000-100,000

5,000

100,000-200,000

10,000

200,000-300,000

20,000

300,000-500,000

20,000-30,000

500,000-1,000,000 50,000

Alternative bids should be indicated by using the word “OR” between lot numbers. If your bid on an early lot is successful, we will not continue to bid on other lots for you. Or, if your early bids are unsuccessful, we will continue to execute bids for alternative lots until a bid is successful. Bids must always be placed in the same order as the lot numbers appear in the catalog.

SUCCESSFUL BIDS Successful bidders will be notified and invoiced within a few days of the auction. All paid-subscribing bidders will receive a list of auction results.

Each absentee bid form should contain bids for one auction only; the auction code number should appear in the top lefthand corner of the form. Please place your bids as early as possible. In the event of identical bids, the earliest received will take precedence.

INSTRUCTIONS FOR PAYMENT BY WIRE TRANSFER Spink China Limited Bank of China (Hong Kong) Limited

TELEPHONE BIDS Bids may be placed by telephone, but are accepted subject to Spink Fine Wines’ discretion and are at caller’s risk. At the sole discretion of Spink Fine Wines, telephone bids may be recorded. By bidding on the telephone, prospective purchasers consent thereto.

Bank of China Tower, 1 Garden Road, Central Hong Kong Account No: 01287500470625 Swift No: BKCHHKHHXXX

BUYER’S PREMIUM The “top limit” you indicate on your bid form is for the hammer price only. A 22% buyer’s premium will be added to the successful bid price for each lot you buy and is payable by you.

Please add HK$150 to cover bank charges plus any additional fee imposed by your bank, and HK$250 for standard shipping/handling fee per shipment, there will be additional charges for carton shipments.

ON-LINE BIDDING We offer internet services as a convenience to our clients. We will not be responsible for errors or failures to execute bids placed on the internet, including, without limitation, errors or failures caused by (i) a loss of internet connection by either party for whatever reason; (ii) a breakdown or problems with the online bidding software and/or (iii) a breakdown or problems with your internet connection, computer or system.

Execution of on-line internet bids is a free service undertaken subject to other commitments at the time of the auction and we do not accept liability for failing to execute an online internet bid or for errors or omissions in connection with this activity.

FOR MORE INFORMATION To place telephone bids, or for further information, please call our Administrators Amy Yung and Dennis Chan at +852 25 300 100.

69

An Evening of Exceptional Wines and Spirits Friday June 6, 2014 6:00PM

Easter Elchies House The Macallan Estate WWW.SPINK.COM

The Philatelic Collectors Series Sale

MARCH 20, 2014 - HONG KONG

Saturday May 10, 2014 11:00AM

1884 (May 27) Cover from S J Smith's Printing Office in Bangkok to Germany, franked with Straits Settlement 8c & "B" overprint watermark crown CA 2c, tied by Bangkok MY 27 84 cds, "Singapore/Paid" JU 3 84 transit, on reverse Ausgabe 6/7 & 7/7 arrival cds, one of three known covers bearing Straits Settlement stamps with Bangkok "B" overprints and the earliest usage, extremely rare.

Estimate HK$400,000-500,000

Please contact Anna Lee at +852 25 300 100 or e-mail alee@spink.com

FOUNDED 1666

CHINA STAMPS COINS BANKNOTES MEDALS BONDS & SHARES AUTOGRAPHS BOOKS WINES

9/F Malaysia Building, 50 Gloucester Road, Hong Kong Telephone: +852 25 300 100 Facsimile: +852 25 266 128 e-mail: china@spink.com www.spink.com

71

The Philatelic Collectors Series Sale Saturday May 10, 2014 11:00AM

North China Liberated Area 1938 (August 9) Two Imperforate White Full Sun of Nationalist China 1c dull purple horizontal strips of five and two 5c reddish brown horizontal pairs used on piece with Hebei Lingshan and Hebei Xiahe datestamps, extremely rare multiples and most desirable, in particular the 5c pairs, only one cover with 1c vertical strip of five recorded, a high caliber exhibition piece, has been safeguarded in the hands of a renowned collector for the past six decades, ex Hu San. Estimate HK$600,000-800,000 Please contact Anna Lee at +852 25 300 100 or e-mail alee@spink.com

FOUNDED 1666

CHINA STAMPS COINS BANKNOTES MEDALS BONDS & SHARES AUTOGRAPHS BOOKS WINES

9/F Malaysia Building, 50 Gloucester Road, Hong Kong Telephone: +852 25 300 100 Facsimile: +852 25 266 128 e-mail: china@spink.com www.spink.com WWW.SPINK.COM

LONDON 1666

STAMPS

SALE CALENDAR 2014

12 March 13 March 14 April 29 April 10 May 14 May 7 June 18 June 10 July 20 September

The Anglo-Boer War, 1899-1902, featuring Occupation and Siege Issues, The Harry Birkhead Collection The “Foxley” Collections of British Guiana and British Honduras The Drs. Joanne and Edward Dauer Collection of Great Britain The Philatelic Collectors Series Sale The Philatelic Collectors Series Sale Specialised Great Britain stamp sale The Collectors Series Sale The “Garrison” Collection of New Guinea “G.R.I.” surcharges The Philatelic Collector's Series Sale The Philatelic Collector's Series Sale

London London London London Hong Kong London Hong Kong London London Hong Kong

14018 14019 14020 14021 CSS08 14022 CSS10 14023 14024 CSS12

COINS 26 March 26/27 March 2 April 9/10 May 25/26 June 21 August 22/23 September 15 November 3/4 December

The "Khalifa" Collection of Islamic Coins Ancient, English & Foreign Coins and Commemorative Medals The Collector's Series Sale The Collector's Series Sale Ancient, English & Foreign Coins and Commemorative Medals The Collector's Series Sale Ancient, English & Foreign Coins and Commemorative Medals The Collector's Series Sale Ancient, English & Foreign Coins and Commemorative Medals

London London Hong Kong New York London Hong Kong London Hong Kong London

14012 14004 CSS09 320 14005 CSS11 14006 CSS13 14007

BANKNOTES 2 April 15/16/17 April 9/10 May 15 July 21 August 30 September 1/2 October 15 November

The Collector's Series Sale World Banknotes The Collector's Series Sale World Banknotes The Collector's Series Sale World Banknotes World Banknotes The Collector's Series Sale

Hong Kong London New York London Hong Kong London London Hong Kong

CSS09 14008 320 14009 CSS11 14013 14013 CSS13

MEDALS 24 April 24 July 20 November

Orders, Decoration, Campaign Medals & Militaria Orders, Decoration, Campaign Medals & Militaria Orders, Decoration, Campaign Medals & Militaria

London London London

14001 14002 14003

BONDS & SHARES 2 April 30 May 19 June 21 August 15 November 28 November

The Collector's Series Sale Bonds and Share Certificates of the World Stocks and Bonds of the World The Collector's Series Sale The Collector's Series Sale Bonds and Share Certificates of the World

Hong Kong London New York Hong Kong Hong Kong London

CSS09 14016 321 CSS11 CSS13 14017

AUTOGRAPHS 9/10 May

The Collector's Series Sale

New York

320

WINES 20 March 18 April 19 April 6 June 25 July 26 September 28 November

An Evening of Exceptional Spirits and Accessories Charity Wine sale Exclusive Silver Seal Auction An Evening of Exceptional Wines and Spirits An Evening of Exceptional Wines and Spirits An Evening of Exceptional Wines and Spirits An Evening of Exceptional Wines and Spirits

Hong Kong Tokyo Hong Kong Hong Kong Hong Kong Hong Kong Hong Kong

SFW05 SFW06 SFW07 SFW08 SFW09 SFW10 SFW11

The above sale dates are subject to change. ____________________________ Spink offers the following services: Valuation for insurance and probate for individual items or whole collections.

Sales on a commission basis either of individual pieces or whole collections.

HK$250

FOUNDED 1666

© Copyright 2014

CHINA STAMPS COINS BANKNOTES MEDALS BONDS & SHARES AUTOGRAPHS BOOKS WINES

9/F Malaysian Consulate Building, 50 Gloucester Road, Wanchai, Hong Kong Telephone +852 25 300 100 Facsimile +852 25 266 128 e-mail china@spink.com www.spink.com