Mezcal’s Moment: Why Collectors Are Paying Attention

In March 2025, 60 Minutes ran a segment that might have shocked traditional spirits investors: it wasn’t about vintage Scotch, rare Cognac, or the bourbon boom. It was about mezcal — the earthy, often smoky, and deeply artisanal Mexican spirit that’s quietly been tiptoeing into spirits collectors’ minds.

Recently, mezcal has entered a new era of global prestige, and for investors and collectors accustomed to blue-chip wines and cult whiskies, it may be the most undervalued category in fine spirits right now.

We’ll break down why mezcal deserves a place in your collection — and potentially your portfolio.

Wait—Are Mezcal and Tequila Different?

Yes... and no. All tequila is technically a type of mezcal, since mezcal is the broader category for spirits distilled from agave. But not all mezcal is tequila. Tequila must be made from only one type of agave (Blue Weber) and only in specific regions like Jalisco. Mezcal, on the other hand, can be made from dozens of agave species, using traditional methods in multiple Mexican states. It’s more diverse, more artisanal, and often far more expressive — making it especially attractive to collectors seeking variation and terroir.

The Past: Deep Roots, Small Yields

Mezcal is not a trend - it’s a 400-year-old tradition.

Produced primarily in Oaxaca but with deep regional diversity, mezcal is made by roasting agave hearts (piñas) in underground ovens, fermenting the mash with wild yeast, and distilling it in small copper or clay stills — often by families who have been making mezcal for generations.

The result? No two batches are alike. This makes mezcal the Burgundy of the spirits world — tiny productions, hyper-local terroir, and a profound connection between producer and place.

For collectors, that means bottles that are not only limited, but impossible to replicate.

The Present: Global Demand, Finite Supply

In the last five years, global demand for artisanal mezcal has surged. What was once relegated to niche cocktail bars is now being stocked at high-end retailers and private clubs. Exports have more than tripled. Yet mezcal production remains mostly unchanged — a slow, manual, non-industrial craft.

That tension is the foundation of mezcal’s investment story:

o   High interest, low volume

o   Cult bottlings that disappear quickly

o   Natural scarcity due to long agave growth cycles (8–30 years depending on species)

o   Much like Japanese whisky in the early 2010s or Pappy Van Winkle bourbon before that, mezcal is on the verge of becoming a true collector’s asset class — especially as connoisseurs learn how to read the labels and know what to look for.

This Wine Economics chart shows the explosive growth over the past few years, especially in the Super Premium category.

Why Mezcal Makes Sense for Collectors & Investors

1. Ultra-Limited Bottlings

Most high-quality mezcals are made in batches of just a few hundred liters. Once they’re gone, they’re gone. These are not brand-driven products — they’re seasonal, sometimes one-time-only expressions.

2. Named Producers Matter

In the same way wine lovers collect by domaine, mezcal collectors are following individual mezcaleros — producers whose skill and personal style shape every batch. Bottlings from legendary names like Lorenzo Ángeles, Tío Pedro, or Abel Hernández are already commanding attention.

3. Undervalued Market

Even the best single-village, wild agave mezcal retails for less than comparable bottles in Scotch, Cognac, or even modern tequila. That price gap won’t last — especially as global awareness increases and regulations limit supply.

4. Terroir + Transparency

Unlike many spirits, mezcal tells you exactly who made it, from which agave, where, and how. There’s transparency, traceability, and trust — the kind collectors are increasingly demanding in all luxury categories.

5. Bottle-Aging Potential

Most collectible mezcals are joven — unaged and bottled shortly after distillation. But some show evolution in the bottle over time, gaining complexity. This makes them not only drinkable assets, but dynamic ones.

What to Look For: A Mezcal Collector’s Checklist

o   Agave Varieties: Rarer = more collectible. Look for names like Tobalá, Tepeztate, Arroqueño, Cuixe.

o   Named Mezcaleros: Seek producers with a story and a track record. This is the human artistry behind the liquid.

o   Single-Village Bottlings: Like single-vineyard wines, these reflect unique terroir and local character.

o   Batch Size & Lot Numbers: Limited runs indicate rarity — and future resale potential.

o   Importers with Integrity: Look to curators like Mal Bien, who showcase mezcaleros directly, much like Lustau’s Sherry Almacenista series gives light to small bodegas in Jerez. These bottles are already being quietly snapped up by in-the-know collectors.

Top Collectible Mezcal Producers Worth Noting

1. Del Maguey. Pioneering single‑village mezcal, Del Maguey has seen 35% year‑on‑year growth. Their limited bottlings from villas like Chichicapa and Tobala regularly appreciate and circulate on secondary markets.

2. Mezcal Vago. A boutique favorite crafting small‑batch mezcals across rare varietals (e.g. madrecuixe, corn, pechuga). It has generated over $10M in revenue, making it one of the fastest‑growing brands in the premium mezcal space.

3. El Jolgorio (Casa Cortés). Known for ultra‑small production, by village and agave type, El Jolgorio bottles often vanish quickly and pop up later at higher prices.

4. Real Minero. A collector’s staple. Their wild agave expressions (Barril, Largo, etc.) are prized for authenticity and traceability.

5. Montelobos. Owned by Campari, Montelobos has launched single‑origin limited‑edition bottlings (e.g., “Reserva”) that have seen 25% sales growth, strong presence in Europe/US, and growing collector attention.

6. Mezcal Union. A cooperative brand generating ~20% annual growth, with special releases selling quickly in secondary markets. Its emphasis on single‑village sourcing and fair‑trade partnerships makes it attractive for socially conscious collectors.

Other names with buzz: Rey Campero, Vago, Derrumbes, Nuestra Soledad

The Future: Scarcity, Prestige, and the Mezcal Moment

A perfect storm is forming: 

o   Rising demand worldwide

o   Agave shortages due to long maturation and climate pressure

o   Increased regulation and sustainability concerns limiting expansion

o   More informed consumers who treat mezcal with the reverence it deserves

Right now, we are in the moment before the market shifts — before the bottles you can buy now become the bottles collectors will fight over later. Investing in mezcal today isn’t just about financial appreciation; it’s about owning living history in liquid form. And the category is expected to show steady, strong growth.

Final Thoughts: Legacy in a Bottle

Mezcal isn’t the next tequila fad. It’s not trying to be the next bourbon boom. It is its own world — rich, complex, rare, and rooted in community.

For collectors seeking authenticity, scarcity, and soul, mezcal may be the most compelling opportunity in the spirits space right now. The question is not whether it’s investible, the question is whether you’ll recognize its value before everyone else does.

As always, we are happy to consult with you on expanding or focusing your wine and spirits collection.