Macallan 1938 'Red Ribbon' handwritten label 42 Years Old bottled 1980 Single Speyside Malt Scotch Whisky 43% alc by vol 700ml bt. N°128 with OWC

This report is dedicated to one of the rarest and most sought-after bottlings in the history of the Scottish distillery Macallan: the Macallan 1938 'Red Ribbon' (handwritten label), a 42-year-old single Speyside malt whisky that was bottled in 1980 in a strictly limited edition. The bottle described here bears the number 128, an alcohol content of 43% and is in the original wooden box (OWC).

Report: Macallan 1938 'Red Ribbon' - Handwritten Label (bottle number 128)

Introduction: A legend in bottle form

The Macallan 1938 'Red Ribbon' is far more than a whisky; it is a liquid piece of history, a time capsule from an era before the Second World War changed the world. Distilled in a year when King George VI had been on the throne for just two years and Fred Astaire was in the charts, this single malt matured for over 42 years in exclusive sherry casks before being bottled in a limited edition in 1980. This bottling is not only one of the oldest in the portfolio of the 'Handwritten Label' series, but is also regarded by collectors as one of the sacred relics of the whisky world.

The historical context: the era of handwritten labels

The Macallan 1938 'Red Ribbon' bottling is part of the distillery's legendary 'Handwritten Label' series. This series includes rare vintage bottlings from 1938, 1940, 1950, 1957 and 1973. They were part of Macallan's early efforts to market their own single malts, a departure from the practice at the time of supplying most of their whiskies for blends. The 1938 is the oldest and most prestigious release in this series.

The name is derived from the characteristic appearance that makes these bottles instantly recognisable as such:

• The handwritten label: a rustic, script-like handwritten label that emphasises the authentic character of the era.

• The red ribbon:The most striking feature is the red ribbon wrapped around the neck of the bottle and sealed with a wax seal. This red ribbon was introduced by Macallan to characterise particularly old and valuable bottlings.

There are only a very limited number of bottles of the original bottling in 1980. The edition is often estimated at around 500 bottles or less, making it an extreme rarity. The bottle described here bears the unique number 128, indicating its position within this exclusive series. Most of the bottles in the series were bottled for various international importers, including Gordon & MacPhail, Atkinson Baldwin & Co (UK), Rinaldi (Italy) as well as Werco Import (Belgium) and Pro Nobilitate (Germany).

Provenance & market (the significance of no. 128 and OWC)

This specific bottle, handwritten and labelled "No 128", is a highlight for any serious collector of such icons. The fact that it comes with the original wooden box (OWC) further enhances its collector's value, as this proves its authenticity and complete presentation. The value is exorbitant and emphasises its status among collectors worldwide. Auction records and estimates attest to the increase in value since its bottling:

• At Sotheby's, a 1938 example (bottle #179) was estimated at £7,500 - £11,000 in 2020.

• in 2021, a bottle was estimatedat HKD 120,000 - 180,000 (approx. USD 15,500 - 23,000)at Christie's in Hong Kong .

• In February 2023, a Macallan 1938 Red Ribbon (bottle no. 41) achieved a hammer price of around HKD 161,200 (approx. USD 20,600)at Bonhams in Hong Kong .

• Another bottle was auctionedat Christie's for the equivalent of around €8,600. The value varies greatly depending on the condition, provenance and storage, but the enormous price potential is undeniable.

Sensory impressions: An unsettling and impressive eternity in the glass

The following tasting notes are a combination of official descriptions of the bottling and the legendary notes of the famous whisky critic Serge Valentin (Whiskyfun.com), who tasted the whisky in 2007 at Harry's Bar in Paris and gave it 96 points.

• Colour: Gold/amber

• Nose: Serge Valentin enthusiastically described it as "simply amazing". It reveals an incredible smokiness combined with a full load of acacia honey, lilac, beeswax and leather lustre. Ripe apricots, floral nectar, Seville oranges and a hint of apple peel complete this complex fragrance. Over time, it becomes even smokier, reminiscent of Havana smoke, and has maritime notes such as "wisp of seawater". Overall "exceptional, leaves you speechless" ("exceptional").

• Palate: "amazingly lively, nervous, fruity" for its age. Apricot jam, ripe plums, chestnut honey, toasted brioche and high-quality pepper characterise the taste. One source describes it as a rich blend of wood and peat with dried fruit and orange, while another describes a soft, sophisticated, elegant palate with sweet notes of sherry, charred oak, molasses and Christmas cake. Serge Valentin called it "totally fantabulous". Another source also notes mushroom and chocolate flavours.

• Finish: Long and pleasant, dominated by fruity and peaty notes with soft, lingering peat smoke.

Special features of the bottling & conclusion

This Macallan 1938 embodies the quintessence of a bygone era of whisky production. It is a testament to the art of long maturation and the heritage of the Macallan distillery. A bottling like this is now an unrivalled collector's item, connecting owners and connoisseurs to a golden age of whisky. The combination of 42 years of maturation, the presentation with a handwritten label and red ribbon and the historical significance make it a mythical jewel in the world of whisky.