I picked up a bottle of Yamazaki and, with a quick check of the price—51,000 yen—felt like I was practicing what I preach in this column. I was really buying for value. I made the purchase and got on the plane home to L.A. But somewhere high above the Pacific, I realized I had grossly miscalculated the currency conversion and bought a $500 limited-edition bottle of 18-year when I'd intended to spend a C-note, max.

Oops.

But here's the thing: Buying Japanese whisky actually presents a tremendous value proposition. As long as you don't flub the math.

It's important to remember that this is not a zero-sum game. Single-malt whisky from Scotland is still the gold standard—the Patek Philippe of liquids that make you feel all warm and fuzzy. What Japan brings to the whisky world is a cultural obsession with quality and precision that harmonizes perfectly with what top-tier spirit-making is all about.

Whisky, $500 Courtesy of Suntory Whisky

Part of the value comes from these brands' obscurity. Hibiki and Yamazaki just aren't as well known or widely distributed as the Macallans and Glenmorangies. For me, there's also personal value in knowing that everyone else isn't drinking the stuff. But more than any of that, drinking a Japanese single malt is about appreciating the art of a classic as interpreted by another culture. Trust me: One trip down the rabbit hole and you'll find yourself leaving online reviews that say things like “an absolutely mouthwatering nose of creamy nuttiness and fruit medley” while sitting in a nice leather club chair in front of a roaring fireplace.

Because Japan really is the land of value, many well-made things take on almost utilitarian characteristics. As someone who really loves watches, I often think about how to buy a handsome timepiece that won't cost a fortune. At the center of that Venn diagram is one name: Seiko.