Why Now Might Be The Perfect Time To Grab This Rare Islay Whisky

Forbes

20-05-2025

As original stocks dwindle, is now the last great chance to own a true piece of Islay history?
The Port Ellen distillery is an icon of scotch whisky. Despite closing in 1983 its whisky went on to become so popular as a single malt that brand owners Diageo spent $246 million (£185 million) completely rebuilding it and the Brora distillery—that had also met the same fate in 1983. In 2024 Port Ellen officially began producing spirits once more and this year they celebrate 200 years of Port Ellen whisky.
The 2024 relaunch was announced with the $60,000 Gemini; a pair of bottles of 44 year old single malt distilled before the old distillery closed. This year they have bought us more information on their ten part spirit safe and their experimental still where they are working on unlocking 'new and mysterious dimensions of smoke.'
Whisky fans are now waiting patiently for the first spirit from the new Port Ellen. But if you want to taste—or collect—the iconic whisky from the original stills, you'd best act quickly. Or be willing to pay a handsome price.
Port Ellen closed in 1983. It was one of 21 distilleries closed by its parent company DCL (now Diageo) during the 80s, and 12 in that year alone. It is important to understand that these distilleries weren't closed because they were bad, or boring. DCL closed them because at the time they thought of themselves solely as a blending company. The 1980s wasn't a great time to be making whisky thanks to a slow market and a lot of surplus stock. So as a company DCL looked at its distilleries and decided to close those that were surplus to requirements to them as blenders—as a business they simply assessed whether they could make something that would do the same thing, cheaper and easier elsewhere?
Port Ellen's Gemini bottles offer a rare glimpse into the distillery's past—just 274 sets were released as part of its long-awaited relaunch.
Port Ellen, Brora and Rosebank were amongst some of the (now) most prominent names that got the chop. Their complex styles were difficult to work with and/or the facilities themselves needed significant investment to bring them up to modern standards. These distilleries were seemingly confined to the history books, forever to be forgotten. Only, Diageo actually had warehouses full of whiskies that were no longer needed for their blending projects.
In came the independent bottlers. 'I was the first to sell casks of Ardbeg, Caol Ila and Port Ellen in Italy around 1982, ' said Silvano Samarol in an Interview in Collecting Scotch Whisky, Emmanuel Dron, 2018. This was the heyday for these single malt whisky connoisseurs, who had almost free range into the forgotten depth of warehouses full of surplus stock.
Some of you may remember 1983 in a more positive light as the launch of Macallan's Anniversary Malt series. In that light it seems strange that in the decade Macallan began its famous marketing push that is iconified with the Folio series, DCL closed almost half its distilleries. But while DCL was happy as a blender, managing its orchestra of whiskies to create harmonies, individual distilleries like Macallan were starting working to build themselves into soloists, carrying the reputation of single malt scotch with it. At the same time, independent bottlers like Samaroli, Cadenhead, Signatory Vintage were championing the 'pure' single cask style of single malt.
Eventually Diageo realised that it didn't have to be all or nothing. In the 1990s we began to see some special single malt releases and in 1995 Diageo launched the Rare Cask Series. This specifically showcased exceptional single cask releases, from its open and closed distilleries. This became the precursor to its Annual and Special releases that would be key to the eventual reopening of Port Ellen.
The Port Ellen Annual Release range was issued from 2001 to 2017 and compises 17 bottles aged from 22 to 37 years old.
"When the first official Port Ellen was included in the Diageo Special Releases in 2001, it established a blueprint for reintroducing closed distilleries to whisky collectors. Until then, Port Ellen was only accessible through extremely limited independent bottlings. These new releases offered enthusiasts a chance to experience Port Ellen's distinctive smoky maritime character with the assurance of official provenance,' said David Mellor of London's wine and spirits mecca, Hedonism, in an email to me discussing the inherent collectability of Port Ellen
'More than two decades since that inaugural bottling, with Port Ellen's original stocks dwindling and new production still years from reaching maturity, these Special Releases remain among the most significant and collectible series for the distillery—both as historical artefacts and as exceptional examples of Islay whisky."
'Throughout this journey, our primary goal has always been to ensure that our releases live up to the legendary reputations of these historic distilleries, providing whisky enthusiasts with products of unparalleled quality and depth,' said Julie Bramham, Managing Director of Global Luxury and Marketing Transformation Director at Diageo, in an email exchange with me to discuss the opening of new and old distilleries across Scotland in 2024.
Port Ellen reopened in 2024 and celebrated with Gemini, a $60,000 (£45,000) release of a pair of exceptional 44 year old single malts that showcase both the past and future of the distillery. This year they have introduced more information about the experimental work going on in the new Port Ellen still and one of a kind spirit safe. They have also announced a handful of exclusive distillery tours and tasting events at Fèis Ìle 2025 that range in price from £40 up to £600. If Brora is anything to go by we can expect another big release when Port Ellen's first distillate turns three. But I won't be expecting any kind of new core range Port Ellen release until the new spirit is at least five—if not considerably older.
The Port Ellen distillery may be opperational again but when will we see the first official bottling of the new spirit?
That means we have a minimum of five years of releases of increasingly scarce original stock. Realistically it'll be longer, as they will not want to exhaust that stock until they absolutely have to! All the while they are going to be pushing the Port Ellen brand—and if it doesn't go straight into super premium, I will be extremely surprised.
That means that any new releases of Port Ellen from the original distillery are going to get more and more expensive and more and more scarce. Equally as the marketing for the new releases rolls out I'll be expecting the prices for the vintage releases to start climbing again too. Prices for Port Ellen have come down with the rest of the market, but not as steeply. If you're a fan of drinking Port Ellen it's unlikely to get any better value than right now. If you are a whisky collector, the profile of the Port Ellen value over the last few years makes it a sound purchase and the current prices make it a great time to buy. So what are you waiting for—get it before it's gone!