Legendary Trinidad-based rum distillery Caroni closed its doors in 2003. Since then, the distillery’s distinctive, heavy rums have become some of the most collected. 

Caroni 1:1

A spotlight on the legendary Trinidad-based distillery Caroni and its distinctive, heavy rums that have become some of the world’s most collected. 

Spotlight on the highly collectable Caroni rum

About Caroni

Caroni 

Rum has been positioned as the next big thing. The one to watch. The spirits category to steal market share from Scotch whisky and the sure-bet to clean up when that gin bubble finally bursts. These claims have been made for the past five years, if not longer. When you look at the figures, which don’t tell the whole story but are a good starting point, rum has been in rude health since 2018 when sales in the UK surpassed the £1 billion mark for the first time. This same year, a rum was named the best spirit at one of the most prestigious blind tasting competitions for the first time. Rum, for many, had finally arrived. “What has changed in the industry is what we can bring to market,” Master Distiller Richard Seale says, in a typically matter-of-fact and non-marketeer way. “So, it is not so much that we are changed in our rum making but today we can think to invest in very old rums, we can think to release cask strength rums, we can offer more specialised rums like pot still or pure cane juice rums and we can think about non-traditional markets – like the Far East. Twenty years ago the market for any of this was extremely limited.” Seale’s family-owned Foursquare Distillery in Barbados was the winner of the aforementioned 2018 blind tasting and the awards have continued to rain down on them since. While always destined to join the family business, Seale says that didn’t necessarily mean a career in rum, other than to sell. “What happened was the year I officially joined, my father made the biggest acquisition we had ever made in acquiring the Martin Doorly and Alleyne Arthur brands. This made for two big changes: one, we would have to invest in aged stocks as these were premium brands and two, we would start exporting. This naturally drew my focus.” Rum has been produced in the Caribbean for centuries. Historically, the new-make was sold to brokers and blenders in much the same way as Scotch whisky. Whereas Scotch distilleries started to bottle single malts from the 1970s, most rum producers wouldn’t have the epiphany to move away from a purely bulk model for another 20 years. It was from this time that rum brands as we know them began to appear in the European market. El Dorado from Guyana, for example, had been produced for centuries before it was marketed for the first time in the early 1990s. Similarly, Hampden Estate, which had been producing rum since 1753, only came to market in 2018. Legendary Trinidadian rum Caroni never actually saw the light of day as a brand in the traditional sense before it closed for good in 2003. “The rum category has changed out of all recognition,” Ken Grier, Creative Director at Colombian brand Dictador, says. “It has progressed from a white and dark mixable spirit to a premium spirit aged in good quality oak casks.” The reason for this progress is down to a multitude of factors – one of which is the realisation that rum has tremendous breadth and depth. “People have realised the rum world has a beautiful range of quality liquid to offer at the top end (rather than just the stock-standard ‘every bar has a bottle of this’ at the low end) and it has encouraged the rum-curious to be more adventurous,” Mitch Wilson, Black Tot Global Brand Ambassador, says. “We’re even starting to lead astray some of our more open-minded whisky brethren who are used to having to pay several times the price for a bottle of their favourite malts,” he adds. Wilson says better access to rums and rum makers have also contributed to this seed change. During the pandemic, the world in many ways got smaller and rum makers who had previously shied away from using technology were forced to embrace it (wifi permitting) to ensure their survival. He says thousands of people came together to discuss sugarcane spirits and meaningful connections were established between rum producers in the Caribbean and their ever-growing appreciators. Physical access to rums has also changed in recent years. Historically, French markets would predominantly sell rhum Agricole (made from sugarcane juice) from the likes of Martinique and Guadeloupe, and English speaking countries would typically sell rums from Barbados and other Caribbean islands, limiting the discovery of rums. As this has shifted, so too has the understanding and appreciation of rum. Similarly, social media has narrowed the gulf and empowered distilleries and rum enthusiasts to disseminate accurate information on rum and campaign against perceived wrongdoings. “In any spirits category there are many different levels of quality available,” Wilson explains. “I firmly believe that anyone who loves spirits but doesn’t love rum yet, just hasn’t tried the right rum for them. Perhaps their perceptions are skewed by some cheap bottle of rum they had when they were younger, or the fact that the average pub or supermarket might not offer a particularly premium selection (especially when considered next to the other spirits offerings).” Now things are changing, Wilson believes everybody has the chance to explore the very best of each spirits category and not just the “commercial rank and file” if they are willing to spend a little more on quality liquid. And rum is no different. “There are some exceptional rums that are of comparable quality to their favourite spirits,” he adds. In the same way whisky has its hard-core enthusiasts who are authorities on the subject in their own right, certain rums have developed a cult following which has driven up the cost of bottlings of certain styles from certain distilleries. High ester rums, for example, are a source of great fervour among rum fans. Jamaica is arguably the godfather of this style, with Réunion Island and a few other French territories also famed for this funky rum that in many cases wasn’t produced for consumption. Part of its appeal, according to Daniele Bondi from La Maison & Velier, is that high esters satiate in a way that whisky currently does not – on the matter of fermentation. “Historically, whisky has never spoken about raw materials or about the fermentation,” Bondi says. “Whisky normally speaks about the ageing, the master blender, and the magic. Here it is more a matter of raw materials so it is another point of view.” This point of difference and palate-altering taste is gaining in popularity. Bondi and others are quick to caution that it might be unwise to follow high ester count alone, in the same way whisky fans have pursued age statements. “It’s important not to chase the highest level of ester regardless the quality,” he says. “Esters are classified by quantity, and we know that connoisseurs love numbers on label, like for the ageing, where the worst mistake is the highest number equals the best. Also in ester amount this is a mistake: what is important is the balance of the product.” Another comparison that can be drawn with the whisky world and collectability is mothballed and closed distilleries. There have been several significant closures in the rum world – Caroni arguably being the most devastating to rum enthusiasts almost 20 years ago. Blends from closed distilleries, proprietary bottlings from a single distillery, and rums that have been produced via methods that have long since been lost have all become collectors’ items and driven scarcity in the category. While there is a market for these collectors’ items, Wilson feels true excitement towards rums that are currently flying under the radar. “You can get tremendous rums for incredible value and have something really enjoyable to explore,” he adds. “This may not always be the case though – we are already starting to see incredible demand for rums like Foursquare, Velier, and Caroni bottlings, all of which command multiple times their retail price at auction mere days after they are launched and sold out. “Even with the demand for rum going up, it is still incredible value when compared to liquid of a similar quality from the whisky categories.” For many reasons, we’re in the eye of a perfect storm for rum. Its high quality credentials, point of difference, and the tireless campaigning of certain individuals to put an end to the nefarious practices of some, ensure that rum is finally having its time in the sunshine. “If ever there was a time to build your rum collection, it was 10 years ago,” Wilson says. “The next best time is right now.” Explore rum or read more Editorial

Rum is one of the most misunderstood spirits categories. Burdened with less-than-premium associations of pirates and insipid cocktails, it’s taken a long time for the authentic, remarkable liquid to break through the malaise

Exploring how rum has grappled with misconceptions and finally started to be taken seriously for its authentic, remarkable liquid.

The evolution of rum

The spirits market is booming. In October 2019, a bottle of 1926 Macallan FINE+RARE 60-Year Old became the most expensive bottle (of either wine or spirits) ever sold at auction in the world, going for £1.5 million – £300,000 more than the same whisky had sold for a year before.  That record may not have been broken yet, but it’s likely only a matter of time. There was a 33.37% increase in the volume of single malt Scotch whisky sold at auction in 2019, with 143,895 bottles sold, worth close to £58 million – a 41.54% increase on 2018. Over the last 10 years, rare whisky has outperformed every other alternative luxury asset, with 353% growth to 2020 Q2. “The rare whisky market has performed phenomenally well over the last decade, outperforming many other categories. We’ve seen growing demand in premium whisky from clients globally,” says Craig Norton, our Managing Director for the UK and Ireland. In five years, we’ve seen the number of spirits buyers rise by 601%, with spirits sales in the same timeframe growing by 698%.  It’s an exciting time for whisky, with a growing international audience as Scotch whisky exports rise (105% in the last 10 years), especially in developing markets like China (up 323% in 10 years). There are also an increasing number of younger consumers diving into the category nose-first; Sotheby’s first online spirits auction last year saw 42% of buyers aged under 40.  The market has so far been dominated by a handful of the biggest names in single malt Scotch, with The Macallan representing an astonishing 40% of the market by value; however
Japanese whisky isn’t far behind. A bottle of 55-year-old Yamazaki sold for HK$6.2 million (US$795,000) in August last year, setting a new record for the category.  The now-closed Karuizawa has become a cult name among collectors, and had something of a halo effect, as our Head of Spirits David Walters said, “Japanese whisky is still going crazy. We sold the Karuizawa Pearl Geisha 37 Year Old (56.9%) pre-release for £12,500 in bond; just a year later it was going for £24,800. The most expensive single bottle of whisky we’ve sold was a Yamazaki 50-year-old (2011 release), for £170,000.” The last two to three years has, however, seen a shift, with a new focus and interest on not buying just bottles but whole barrels or casks. “The ability to personalise or customise single cask bottling has proven extremely appealing to clients,” Norton says, “However, it’s not simple. Barriers can be a lack of understanding of value, the process of maturation or
reselling, or gaining access to the market.”  “The challenge can be guaranteeing provenance,” explains Walters. “Our preference is always to work directly with the distillery.” The IWSR estimates the value of the Scotch whisky cask market at $40 million – and forecasts a trend for cask sales in other categories, such as Bourbon, rum and other US whiskey. While occasionally we see more mature casks (such as a mature Macallan Sherry butt we sold last year, for £600,000), it is more common to see casks as futures, much like en primeur.  Given the long-term timeframe for producing fine whisky, with the first product often not released for five or 10 years, cask sales have fast become a way for the rising number of new distilleries to build revenue in their early years. It is rare for casks to be sold after the first year of production, however, making them a once-in-a-lifetime opportunity to get in on a new distillery – one that may just be the next big thing. It’s this excitement, Walters says, that should attract buyers who are also in it for the journey. Naturally, “founders’ casks” – as they are known – are finite in supply, adding to their appeal for collectors. The spirits market remains dominated by single malt Scotch – with Brora, Karuizawa, Dalmore, Bowmore and Springbank amongst the most collected names – but consumers are branching out. “We’re beginning to see collectors diversify their portfolios,” says Walters, “discovering premium and collectable rums.” He highlights the popularity of Caroni – a Trinidad distillery, no longer in production, that has parallels with Karuizawa – and Hampden, in particular. Fortunately, Covid seems to be having little impact on sales. Even in the last year, the
market has seen 12% growth; as Knight Frank reports, “Anecdotally, drinkable investment classes have always down well in a downturn, perhaps as their owners have looked to drown their sorrows.” In fact, IWSR data shows that “between 2008 and 2012, global prestige-plus
spirits (generally $100+) grew 82% in volume, and almost 230% in value, [reinforcing]
the resilience of high-end spirits after economic challenges”. Nevertheless, our advice is always to buy only what you are prepared to drink – a worst-case scenario that few wine or spirits lovers find much of a burden. Browse all whiskies or read more Editorial

The spirits market has seen a decade of astounding performance – but what is happening, and what should you be looking to buy? 

The spirits market is booming. We take a closer look at the spirits market and explore what is happening, and what should you be looking to buy 

The spirits market overview 

In high spirits: market overview

Think of a cocktail. Is vermouth in it? If you’re thinking of a classic cocktail, there’s every chance it is. The Martini, Negroni, Manhattan – I could go on. And on. For whatever reason, vermouth has not always received the recognition it deserves for propping up so many exquisite mixed drinks. In fact, I’d hazard that a fair amount of cocktail lovers don’t know vermouth is in their glass at all, or, if they do, their knowledge of the liquid might be a little patchy. When it comes to vermouth, there are a few things you need to know. Vermouth is an aromatised wine which hails from Torino, Italy. It is generally accepted that vermouth – as we know it, not the kind prescribed by Hippocrates in 400BC for ailments – was invented in the 16th century. In 2019, a Geographical Indication was introduced to protect the style and quality of vermouth from its birthplace, Turin. Under these regulations, vermouth must be made with at least one Italian wine, wormwood must be the predominant flavour and the wormwood used must be grown in Piedmont. The final liquid must also be between 16% and 22% alcohol in order for it to be labelled “Vermouth di Torino”. The two most common styles of vermouth are sweet and dry. The former is red in colour and as such is often called Rosso. This is the style used in your Manhattan and Negroni. Dry vermouth is white (Bianco) in colour and will be used in your classic Martini. Four classic Vermouth-based cocktails The Negroni It might be hard to believe given the Negroni’s current notoriety, but this simple serve of equal parts vermouth, Campari and gin was incredibly slow to catch on. As is often true in cocktail lore, there are a couple of people credited with its invention. The most widely accepted is a Count named Camillo Negroni who asked a bartender at Caffè Casoni in Florence to make his Americano cocktail a touch stronger. They duly obliged and switched the soda water for gin. This is believed to have taken place in 1919. A smaller camp credits a man named General Pascal Oliver Comte de Negroni with the invention of the cocktail in Senegal between 1855 and 1865. Setting aside the inventor for the moment, the Negroni, unrefutably, became de rigueur in the early 20th century – requested across Europe and favoured for its bitterness and alcoholic strength. Orson Welles was a very high-profile fan, famously quoted in 1947 for saying: “The bitters are excellent for your liver, the gin is bad for you. They balance each other.” In the years that followed, the Negroni’s popularity waned when appetites became more saccharine in nature. In the early 2000s, things shifted again as the Negroni began to appear on cocktail menus at some of the best bars in the world. It wasn’t long before the recipe featured in cocktail books and drinks sections of influential titles, such as The New York Times. Fast forward to today and the Negroni is regularly named the most popular cocktail by patrons and bartenders alike. There are countless riffs on the original recipe and an entire week is dedicated to celebrating it. How to make a Negroni 30ml sweet vermouth 30ml Campari 30ml gin Ice Slice of orange (garnish) Pour all ingredients into a glass with ice and stir well. Add garnish. The Manhattan The Manhattan has assumed many guises over the years, making its exact origin a hotly contested subject. Some believe Sir Winston Churchill’s mother was served the first Manhattan cocktail at the eponymous club in New York in the early 1880s. Others question the validity of this claim as she was likely in the UK, pregnant with the future Prime Minister, around this time. Some believe a New York bartender by the name of Black invented the recipe at the Hoffman House. The earliest known record of the Manhattan, in which this name and the recognised recipe, appear is in The Sunday Morning Herald in September 1882. Unhelpfully, some referred to a very similar recipe as a Jockey Club or Turf Club Cocktail. The classic recipe consists of Rye or Bourbon, sweet vermouth and bitters. During Prohibition, it was not uncommon for people to use a different whiskey as the base ingredient. If you substitute American whiskey for Scotch whisky, you have a Rob Roy cocktail. How to make a Manhattan 50ml Bourbon 25ml vermouth 3 dashes of orange bitters Cocktail cherry (garnish) Add all ingredients into a glass filled with ice and stir. Strain into coupe or Martini glass and garnish. The Americano The Americano recipe was invented at Gaspare Campari's bar in Milan in the 1860s. The cocktail of equal parts Campari, vermouth and soda water, was originally named “Milano-Torino” after the principle ingredients’ home towns of Milan and Torino respectively. The simple serve was renamed in honour of its growing fanbase: American tourists. The Negroni recipe was based on the Americano and contains two of the three main ingredients – with the soda water switched for gin. While many associate James Bond with the Vesper cocktail or a Martini – shaken, not stirred – the first cocktail associated with 007 in Ian Fleming’s work was actually an Americano in Casino Royale. It is later written, in A View To Kill, “Bond always had the same thing – an Americano”. How to make an Americano 30ml sweet vermouth 30ml Campari Soda water Slice of orange (garnish) Fill glass with ice, add Campari and sweet vermouth. Top with soda water and stir gently. Garnish. The Adonis A slightly less well-known vermouth-based cocktail, the Adonis was invented in honour of its Broadway musical namesake. The musical, based on William Gill’s novel, first opened in Chicago in 1884 and went on to become the longest-running show of its era. As the name suggests, the story follows a beautiful male statue who comes to life and ultimately opts to return to stone. The first reference to the Adonis cocktail was written in 1887. How to make an Adonis 60ml Oloroso Sherry 30ml sweet vermouth 2 dashes of orange bitters Stir all ingredients with ice. Strain into chilled glass. Browse all spirits or read more Editorial 

No drinks trolley is complete without a bottle of vermouth. It’s required in countless classic cocktails and is a remarkable drink in its own right. We chart vermouth’s rise to prominence and explore the history of four of the most famous vermouth-based cocktails.

Alll about vermouth’s rise to prominence and explores the history of 4 of the most famous vermouth-based cocktails - The Negroni, The Manhattan, The Americano

How four vermouth-based cocktails became classics

The history of vermouth in cocktails: shaken not stirred 

Caroni

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