Lasting Legacy: Ex-director of The Macallan on the world’s most valuable whisky

Sotheby’s recently held an auction in Hong Kong where the Macallan in Lalique Legacy Collection – a set of six crystal decanters containing the rarest of The Macallan’s single malts aged from 50 to 65 years old – sold for US$993,000 (HK$7.7 million).

David Cox, who recently retired as director of fine and rare whiskies for The Macallan, flew into Hong Kong for the ‘Finest & Rarest Wines and The Macallan’ auction.

David, who worked in the scotch whisky industry for 35 years, played a lead role in the development of The Macallan in Lalique Six Pillars series.

We spoke to David after the auction about the Six Pillars, brand identity and how The Macallan is received in Hong Kong and China.

How did The Macallan establish such a strong brand identity?

Before The Macallan was marketed as a brand in the 1980s, the product had long been admired and sought after by blenders as a ‘top dressing’ single malt. It was also popular among a small number of consumers who enjoyed its distinctive rich, full-flavoured character, much of which owed to The Macallan’s use of sherry casks from Spain for maturation.

Since that time, what was something of a cult-like following by a few has turned into an ever-growing loyalty by many around the globe. This is down to the merits of The Macallan’s product reaching a wider audience through active engagement with trades and consumers. This engagement is grounded in some product truths – the Six Pillars – which have been consistently talked about and understood by trades and consumers. Consistency has therefore been critically important, which is based on a great appreciation of outstanding and distinctive product quality.

Have you tweaked the brand at all for the China and Hong Kong markets?

We maintain the prestige and luxury positioning for all markets across the world. It is arguably the most precious whisky in the world, substantiated by the multiple world records of ‘The Most Expensive Whisky Ever Sold In Auction’ by The Macallan 64 Years in Lalique Cire Perdue Decanter and The Macallan Imperiale 6L M-Decanter Constantine.

How’s The Macallan received in China and Hong Kong?

The Macallan is received exceptionally well across Hong Kong, Taiwan and China. The consumers are basically professional, upper income and high net-worth individuals. The brand also has a good following among younger consumer groups, which is a visible trend in Asia among single malts.

The younger consumers are more open in terms of trying new categories of drinks, single malts among the many they are experimenting with. They collect, collate, categorise, compare and conclude which ones they prefer and for what occasions.

What’s the biggest challenge for The Macallan in this region?

Supply has always been an issue.The challenge is to always stay vigilant, always aim to be better and to always put consumers at heart. We always remind ourselves to stay close to our customers, be relevant to consumers and be aware of any changes in the market.

What is The Macallan in Lalique Six Pillars collection?

It is a celebration in crystal decanters filled with some of The Macallan’s oldest and rarest whiskies – the oldest was filled to cask in April 1945.

The Macallan’s Six Pillars are six facets of The Macallan which, when taken together, help explain the distinctive, rich character of the whisky.

What exactly did you do in your lead role in the development of The Macallan in Lalique Six Pillars series?

I was introduced to Lalique back in 2004, and at the time my plan was to develop a series of decanters in crystal to celebrate the six pillars, releasing one every other year, making this a 12-year project.

I was immediately struck by the extraordinary artistic legacy of Lalique and felt they would not only deliver an outstanding series of unique crystal decanters, but that we also shared many values which would ensure a partnership of understanding and longevity. I am delighted to say this proved to be the case.

You were in Hong Kong for the auction at Sotheby’s. How did it go?

The result exceeded our expectations. The combination of The Macallan’s unrivalled reputation in single malt whisky, allied to Lalique’s artistic inspiration, helped to ensure that the Legacy Collection, the only complete collection of Six Pillars decanters ever released by The Macallan, achieved a world record hammer price for a single lot at auction. Most satisfying of all, though, is the proceeds will be divided equally among five charities.

The Hong Kong charities are:

Society for the Community Organization, which supports disadvantaged people in Hong Kong.
Food Link Foundation, which specialises in coordinating food needs for disadvantaged families in Hong Kong.
Crossroads Foundation, which supports disadvantaged people in Hong Kong, specifically helping unemployed people who lack the required skill sets between jobs.

The regional charities are:

Watsi, which provides support to those in need of medical and surgical support and works globally and regionally.
One Sky Foundation, which supports orphans in Asia-Pacific.

Each of the five charities will receive a 20 percent donation of the net proceeds. The first three charities are based in Hong Kong and the last two work in Asia-Pacific, so Hong Kong charities will share 60 percent and Asia-Pacific charities will share 40 percent of the net proceeds.

In 2015, The Macallan was the most valuable whisky brand at auction, why do you think that was?

The Macallan has been the most valuable whisky brand at auction ever since the first whisky auctions were held in Scotland in the late 1980s. I think it derives from a combination of our great reputation, a track record of high prices and ever increasing value and, in the case of some Macallan products at auction, of scarcity.

Text: Andrew Scott

Beguiling box: How to proffer a proper coffer

What’s the hardest part of owning the world’s most expensive jewellery box? Perhaps it’s the task of finding items of jewellery that are lavish enough to be deemed worthy of storing inside such an extravagant receptacle. However, it’s safe to assume that anyone who would splurge US$3.5 million (HK$27.2 million) on a box would not hesitate to splash out on some truly divine gemstones.

Whatever the case, the Flower of Eternity Jewellery Coffer by Swiss diamond house Mouawad is truly for lovers of the finer things. Unveiled at the recent Doha Jewellery & Watches Exhibition, the 18-carat gold and silver box is encrusted with an enviable number of white and yellow diamonds, white and pink sapphires, rubies and lapis lazuli. Its delicate, heart-shaped flower petals are said to symbolise eternal love.

The coffer’s claim as the most expensive jewellery box has already been verified by The Guinness Book of World Records – and it’s not the first time Mouawad has earned such a distinction. The jeweller has previously crafted the world’s most valuable necklace, handbag and bra. Its diamond necklace modestly dubbed “L’Incomparable” features the world’s largest internally flawless diamond and costs a none-too-shabby $55 million. Similarly, its diamond-encrusted Very Sexy Fantasy Bra sports a price tag of $11 million.

Canny bidder bags small wonders

A set of eight miniature bags made by the French fashion giant Hermès sold for HK$2.5 million at a record-breaking auction at Christie’s Hong Kong. The bespoke collection features miniatures of full-size handbags in the range, notably many of the brand’s most iconic and classic models. The Roulis, Kelly, Toolbox, Farming, Faco, Constace, Bolide and the world-famous Birkin were all represented.

The elegant collection is collectively known as the “Leather Forever Japan Star Bags” and – prior to the auction – were on display at Tokyo’s National Museum for Hermès as part of the Leather Forever exhibition in 2014. Dubbed the “ultimate gift for any bag lover,” each model is created in a 15cm version of the brand’s iconic larger counterparts. Made using the finest skins, each bag is finished in a bold, pop-out hue, including cherry red and candy pink.

The rest of the auction was also a resounding success with the final tally totalling around the HK$41 million mark. Matthew Rubinger, a Christie’s senior vice-president, put it down to the quality of the lots “that appealed to both new buyers and established collectors,” adding that “the strong sell-through rates were generated from active in-room, phone and online bidding, predominantly by Asian buyers.”

E-Type Brag: Jaguar’s record-breaking sale

A classic 1963 Jaguar was recently sold at Bonhams Scottsdale in the United States for a fuel-injected US$7,37 million (HK$57 million). The new owner – an anonymous telephone buyer – set the record for the most valuable post-1960 Jaguar ever to be sold at auction. It was the highlight of the annual Arizona Auction Week – which saw an overall auction value of US$36 million.

The car, a Jaguar E-Type Lightweight Competition, was also the most valuable E-Type ever sold and a previous Australia GT Championship winner, no less. This particular version, with the chassis number S850667, is renowned for its design and the fact that it’s one of the most original factory Lightweight E-types in the world. As the 10th of 12 models built, it’s an extremely desirable automobile.

The hefty price tag may in part be down to the car’s peachy condition. The previous owner described it as having “never been disassembled or rebuilt in a significant manner.” A Bonhams Group Motoring director, James Knight, was also clearly delighted: “We were applauded by the market for assembling one of the finest selections of cars ever seen at Scottsdale,” he said. Aside from the Jaguar’s impressive sale, the overall auction also achieved an 82 percent sell-through rate – testament to the passion of the discerning motor-heads who attended the upscale car sale.

Oprah Windfall: Queen of chat’s billion-dollar bonus

Whether you call it the Midas touch or the Oprah Winfrey Factor, there’s no denying that everything touched by the iconic American talk show host seems to turn to gold. Oprah’s Book Club picks often become bestsellers, and the release of Oprah’s annual “favourite things” list sends her fans scurrying to the nearest mall.

It would also appear that anything the media megastar owns is equally valuable, as evidenced by her recent sale of a Gustav Klimt painting to an unnamed Chinese buyer for US$150 million (HK$1.2 billion). She originally purchased the painting for US$88 million back in 2006 – which at the time was the fourth-most expensive artwork ever sold at auction.

Even without the ‘O’ influence, the artwork in question, Portrait of Adele Bloch-Bauer II, is a bona fide masterpiece. Painted in 1912, the artwork depicts the Austrian artist’s friend and patron, Adele Bloch-Bauer – the wife of a wealthy Viennese industrialist. In 1938, the painting was seized by Nazis, who also made off with other items from the Bloch-Bauer family’s collection. After the war, the painting’s fraught history continued with lengthy court proceedings to determine its rightful owner – a legal battle so fierce that it inspired the 2015 film Woman in Gold starring Helen Mirren. In 2006, the works were finally restored to the rightful Bloch-Bauer heirs, and subsequently sold to private collectors and, of course, the eagle-eyed Oprah.

Spring Sale: 7 stunning pieces from Sotheby’s auction

Among collectors, Sotheby’s spring auction in Hong Kong is one of the most highly anticipated events of the year. This year was particularly significant because it was the first time Western contemporary art was offered at the evening sale, held at the Hong Kong Convention and Exhibition Centre.

The five-day event raked in a grand total of HK$3.17 billion.

Sotheby’s President and CEO Tad Smith said of the auction’s success: “Outstanding results in our traditional categories of Chinese ceramics and paintings were joined by records across a range of collecting fields including western contemporary art and jewellery, affirming Hong Kong as an anchor of the global art market.”

Here are some of the most remarkable items sold at the spring auction.

Mao by Andy Warhol

Mao is an iconic painting of an iconic leader, rendered by an equally iconic artist in his own right – American pop art pioneer Andy Warhol. It’s little wonder, then, that all eyes were on Mao at the spring auction. A private Asian collector bought the piece for HK$98.5 million, setting a record for any Western contemporary artwork ever sold at auction in Asia. The painting was expected to fetch HK$115 million.

The painting was created in 1973, a year after the historic moment when US President Nixon visited China and Chairman Mao.

Lush Mountains in Misty Gleam by Zhang Daqian

In the Fine Chinese Paintings category, Lush Mountains in Misty Gleam by late Chinese artist Zhang Daqian was the top seller, going for more than HK$31 million. Painted in 1967, the medium is splashed ink and colour on gold paper. The artist’s distinctive splashed-colour style (pocai) can be partly attributed to eye problems he experienced later in his career when his eyesight started deteriorating.

Fancy intense blue diamond ring

Another record setter in its respective category, this fancy intense blue diamond ring was snapped up for HK$37.2 million. The ring, set in white gold, boasts an emerald-cut, 3.13-carat blue diamond flanked by two step-cut diamonds and an oval band encrusted with circular-cut diamonds.

Dry-Lacquer Head of Avalokitesvara, Tang Dynasty

This sculpture of Bodhisattva Avalokitesvara, an important Buddhist figure, went for HK$21.7 million. This extremely rare item was made using a dry-lacquer technique during the High Tang period, likely during the reign of Emperor Xuanzang (712-756). This particular piece is in near-pristine condition.

Explosion 64-1, Shimamoto Shozo

This colourfully chaotic oil on canvas painting by late Japanese artist Shimamoto Shozo sold for HK$20.5 million. The painting was created in 1964 using the artist’s signature ‘bottle crash’ method, in which glass bottles filled with paint are hurled at large canvases. As said best by the artist himself: “Even if my method seems shocking and violent – crushing bottles and shooting cannons at the canvas … I’m just working on creating beauty.”

Xuande Fish Pond lobed bowl

This fine china set a new auction record for early Ming porcelain when it sold for HK$229 million. It’s safe to bet that the buyer probably won’t be using it to serve up fried noodles. The tranquil scene depicts four fish swimming past lotus flowers: a carp, mandarin fish and two kinds of bream, all set in a beautiful cobalt blue.

The Macallan in Lalique – The Legacy Collection

For whisky collectors, The Lalique Legacy Collection is highly coveted. The collection features a set of six crystal decanters filled with The Macallan’s rarest single malts, aged 50 to 65 years old, plus six rare miniature bottles and six pairs of Lalique Macallan glasses. This exclusive, limited edition collection went for HK$7.7 million, setting a record for any lot of whisky ever sold at auction.

Text: Emily Petsko

Meet Andre Morkel, the gemmologist who doesn’t mince his words

Andre Morkel is chairman and CEO of Morkel & Sons Fine Jewellery and Consultants. He is also a founding partner and chairman of ADAMAS Fine Jewellers’ Joint Chiefs of Staff.

Did you grow up in Hong Kong?

Yes, I’m a fourth-generation Hong Konger. So that makes my kids the fifth generation. I have an elder son who is 15 and a younger son who is turning five. From the get-go, my great-grandfather was involved in stockbroking in Hong Kong. He was chairman of the stock exchange, and the majority of my family worked in broking. A lot of them were lawyers in the finance industry and worked in hedge funds. I wanted to do something different and branch out, which I guess makes me the black sheep.

Click here to watch the video

How did you break into the jewellery industry?

I went to a luncheon about 10 years ago with a very good friend, and it was there that I met the owner and chairman of Ryder Diamonds, Sally Ryder. The minute I met her we just clicked and she said, ‘Why don’t you come in?’ and I thought, ‘Why not? It looks interesting,’ so I dropped everything to take up gemstone training. From my first day, she threw me into the deep end. I had knowledge of gems and diamonds but not like this. She gave me all these stones and said, ‘Sort them.’ I said, ‘Sort what? There are hundreds of stones here. What do you want me to do?’ I eventually caught on, and the training was phenomenal. I began to understand how the guys in the workshop twisted the gold, how they did the moulding and how long it took. I used to – and still do – come back with cuts and bruises and burns.

Ever since we started ADAMAS, my partner and I have received a lot of enquiries for jobs because people think it’s a luxurious industry. But it’s also hugely hard work. Now, it’s getting harder and harder to convince clients to buy because the market is so saturated, and the majority of our clients are uber high-end and high net-worth, so they already have so much stock and don’t need anymore. We hit a roadblock with that last year, but we took a different marketing approach and the interest started sparking again.

“This ring was designed for our younger son – it’s dubbed the Avrae Dragon Ring, which means eternal fire”

Have you been hit by the recent downturn in the jewellery market?

It has been difficult at times. Last year, people were calling it the ‘death market.’ I don’t agree with that, but it was tough, absolutely. Every industry took a hit, not just the jewellery industry. In my mind, though, we just had to find a loophole. There’s always a way to manoeuver back into a market that’s in a slump to recapture some of your clients. There’s always cash somewhere.

I listen to (life success coach) Tony Robbins a lot – he’s one of my biggest mentors – and one thing he says is, ‘If you want to take the island, then burn the boat.’ And that’s what we did. We don’t compete against the ‘big guys’ – the large jewellery brands – but we find ways of supplying clients with products that are more attainable to their budget. A lot of people want that 5-carat gemstone and they’re adamant it must be Cartier branded, but we can supply something of equal calibre at a fraction of the cost. We started small but gradually grew over time to what we are now, and we’re doing considerably well given the current market. We have a small following of private clients, which is growing nicely.

What sets ADAMAS apart from other jewellers?

My passion is the stones themselves, the designs. A lot of retailers have nice stones, but the salesmen don’t understand what they’re selling half the time. I have suppliers globally, and I have a very good supplier based in Hamburg who flies to South Africa and sources stones from mines around the country. He sends me the most unique paraibas and the rarest tanzanites. That’s one of our selling points because I can send those rare stones to high net-worth clients – and not just the ladies, but also the guys. A lot of the guys want ruby and sapphire rings. They want Sri Lankan blues, Burmese blues and Muzo emeralds. The Muzo mines (in Colombia) are drying up now, so people are after Muzo emeralds.

“For my morning meditation, I have what I call my Bruce Willis Die Hard breakfast of cigarettes and two coffees”

The design is also key. I recently designed a piece for a high net-worth client using a rare paraibas that you will never find again. I designed it and we crafted it, which takes up to two months. It’s a one-off ring that’s never going to clash. That is crucial in Hong Kong, where ‘tai tai syndrome’ is a real concern. If you’re sitting at a big banquet and, God forbid, three tai tais are wearing the same ring, there’s going to be a big fight. So we ensure that we never make more than one. Everything is bespoke and customised to the client.

The problem with a lot of clients is they can’t visualise what a loose stone would look like as a piece of jewellery. If I give a client a loose ruby, she cannot visualise how it would look, and I can immediately see in my head what the jewellery should look like by the way she’s dressed, the way she looks, her smile or non-smile, whatever it may be. They say you can judge someone within 10 seconds of meeting them – I can look at a stone and straight away say that it needs to be set in rose gold, for example.

You’ve said that you don’t want a customer, you want a client. Can you elaborate on that?

A customer is someone who comes once. Whether they spend $2,000 or $5 million, I don’t care. I want them to be happy, and I want that phone call from them later on. A lot of businesses will ask, “How are the kids?” and they’ll call to wish you a happy birthday, and then – bam! – they suddenly ask if you want another ring. It’s typical, and you know it’s phony. With a client, there has to be sincerity and honesty, and that’s what we do. A lot of our clients know that my family has been through hell, so there are no false happy birthdays because they know I don’t have time for that. If I say it, I mean it.

What’s one of your favourite pieces of jewellery that you’ve designed?

This ring was designed for our younger son – It’s dubbed the Avrae Dragon Ring, which means eternal fire. It’s a tribute to his battle with cancer because he was born in the year of the dragon. I own lots of dragon-related items – my shoes, my belt, my keyring, my watch. The stone featured is a rubellite, which is said to bring good health and prosperity.

You’ve recently gotten more involved in raising awareness about cancer. How has your son’s diagnosis changed your life?

He’s doing chemotherapy, which certainly takes a toll. He started on 4 November last year, and his treatment was extended until November 2018. It’s pretty draining, especially because he is so energetic. He doesn’t take many breaks, which means no one in our house gets a break. We also have to be extra cautious when we go out because his immune system is shot, and he can easily pick up a virus.

At one point, I shaved my head to support him. We want to create more awareness about cancer because that conversation is lacking in Hong Kong. My wife joined a support network, but it’s based in the US. Why don’t we have one here? It’s a tough and stressful experience, and that’s why we want to set up a support network to help parents who are going through this so that they have something to fall back on.

When you have free time, what do you do to unwind?

I like to build RC (remote control) racing cars, which have now overloaded my son’s room. Fish are another fascination of mine. I have a big carp collection, and I find them very relaxing to watch. I have 12 now, so I’ll have to build a proper pond to accommodate them in the summer. We also have piranhas, which is a little bit crazy.

Music is another big release for me. For my morning meditation, I go upstairs and have what I call my Bruce Willis Die Hard breakfast of cigarettes and two coffees, and I listen to music and try to relax for 10 minutes before I start the day.

I also collect a lot of memorabilia, which drives my wife insane. I have a samurai sword, a sabre tooth skull and Sylvester Stallone’s boxing boot from Rocky, which faces my desk. I look at that, and it’s a constant reminder to never give up.

So when I buy these things, they’re not just random pieces – they’re reminders not to drop the ball. I try not to absorb negative energy. Most people nowadays are on so many drugs and antidepressants because they’re listening to everyone else, but if you listen to people like Tony Robbins you’re already on a high. I listen to him every morning, just a snippet of whatever he’s got. It doesn’t matter if you don’t make a sale for the day – don’t worry about it. Don’t think about it. Just live for today.

Thank you.

Text: Emily Petsko