Hammer price

Not a legal term

No whisky regulation in Scotland, Ireland, the United States, the EU or Japan defines this. It is a trade or marketing term, so it is only actionable if its use is actively misleading.

Often confused with the price actually paid

The total cost to the buyer is hammer price plus buyer's premium, plus tax on the premium, plus shipping. Published 'record prices' are usually inclusive of premium while price databases are often exclusive — comparing the two misstates the market by the premium.

Related terms