Here's my take. And get ready for the flack. When it comes down to it the CONSUMER is ultimately responsible for the prices. If the consumers refuse to support the secondary market, refuse to buy from "museum" priced stores, tells the reseller to take a hike then the prices would be what they SHOULD be. There's too many great whiskies out there for reasonable prices, just buy those!
Stores that gouge prices are worse than resellers for a number of reasons. Mainly, the prices are often 2-3x more than the secondary market and they’re essentially swindling people who aren’t educated enough in whiskey. I can’t tell you how many times I’ve talked random people out of shelling out $150 for a blantons at some store for their dad, brother, boss etc. It’s not like people are stumbling upon the secondary market. You have to search it out which would imply some knowledge of the whiskey game. And I’m not defending secondary; I just firmly believe these museum stores are a larger part of the problem. I completely understand a small markup depending on your circumstances but they’re selling bottles 300% and oftentimes much more. Obviously people like you who educate consumers are extremely important. I’m sure you’ve stopped a lot of people from overpaying for allocated stuff.
Face it, we are affluent people and that allows us to indulge ourselves. I've said for years Starbucks doesn't sell coffee, they sell self indulgence. People treat themselves because they can. Whiskey is a classic example. But, I agree with you on the key points. I do not buy anything on the secondary market. In general, I don't chase rare bottles because we are spoiled for choice with so many great whiskies out there. Sure, I like to explore and try things and rare things are fun, but I get excited about finding a great whisky at a fair price. And, I have significantly reduced my purchases from Diageo and other big players who are driving prices beyond reason. Thanks, Bill.
I’ve been waiting for the bubble to burst for almost 10 years. Great info. I started drinking whiskey around 2007 and started learning about it around 2010. It’s interesting to me to see these stats over time. I learned early that whiskey goes in and out of style, and a good time to be into whiskey is a few years after it’s gone out of style; the distilleries will have a lot of stuff they can’t seem to sell so drop prices and sell stuff with older age statements
Great info...Thanks! I would also add government taxation - property taxes for the distilleries, taxes on the alcohol sitting in the barrels, transportation taxes (Fuel and licensing), sales taxes, etc. It's amazing to me how much they get away with.
I've gone through "several" bottles of McFarlane's Reserve over the last couple months. Easy, smooth sipping bourbon, 45% ABV, and won't break the bank. I've bought a couple 1.75L bottles for $36!! There are still some good bourbons available for a reasonable price!!
You basically touched on all the problems in bourbon that I have pinpointed myself. The bourbon market truly is a shell of its former self. It's hardly recognizable. Prices up, quality down and limited availability. I've owned or tried a large number of bourbons. I have enough exposure that I know what I like and what I don't, for bourbon specifically. I stick to these offerings and I try to get single barrel store pick versions of them if I can. I like the "All good things must come to an end" aspect of single barrel store picks. Eventually there will be no more, so enjoy it while it is here. This is the thing that perhaps bothers me the most about people hoarding and bunkering bourbon, specifically allocated bourbon. It will run out, at some point there will be no more of that bottle. Bourbon is a consumable! Not a pokemon to be collected and looked at on a shelf. If somebody is in it for speculation or any other reason except opening it and drinking it and sharing it and enjoying it, they are here for the wrong reasons. I still pick up bourbon, but I've mostly burned out on it. It's exhausting. I've switched focus more back to Irish whiskey, Scotch, Armagnac, tequila and vodka. Which are the spirits I was into first before I was into bourbon. Give me Early Times Bonded, Old Grand-Dad 114, Knob Creek 12, Driftless Glen and any of the mash bill #1 products from Buffalo Trace. I don't like wheated bourbon and I'm very picky on rye.
Hey I'm from India and bourbon is a new thing here, so after trying out the basics (Jim beam, Jack Daniels) I want to try other stuff too but often they're ridiculously priced. I mean an average quality bourbon for the price of a Talisker 10, how's that going to work? I would advise them to price it right and tap the huge market. Love your videos BTW
The market will always be changing has for years I've been drinking for 40+ years seen the bad times and the good. I do believe its starting to stabilize some what but you have some brands that are just out of their minds with pricing but I don't see that trend to continue.
The only point I wish you would’ve dug into a bit more would be the price of the barrels from the coopers to the distilleries. Outside of that, this was very informative and a fun little take on the current state of bourbon.
Great video.... Thank you for the research and sharing. At the end of the day, we the consumers have the ability to stop this. Too many people (I was one when I started upto a year ago) are consumed by FOMO. This is a race that nobody wins... always chasing for the next one. Sometimes, I go for the unknown, but overall I am more selective. There are ones that I will always search for, Glenmorangie, but for everything else, I am more selective.
I jumped into bourbon hype a couple years ago, I soon started to see these outrageous prices, and realized that for me its not worth it, especially these barrel proof bourbons. I jumped back into craft beer and havent looked back.
My argument is that Costco's stock price is proof that the Walmart workers can get paid enough that they can get off of food stamps, and that the children of Sam Walton shouldn't be as wealthy as they are. Costco's price is 850 dollars a share and Walmart's Share price is 67 dollar I would argue it's not the Burbon that's the issue but the income of those who buy the Bourbon.
I'll defend Cooperstown a bit. They are actually producing their own stuff & it's obviously where the hall of fame is. They are a young distillery. They were only charging 35-40 bucks for a bottle last time I bought it.
I wonder what percentage of the people who pay ridiculous prices for a whiskey also drive a corvette and live in a trailer. A fool and his money are soon parted. I generally will not pay more than $60 for a bottle of bourbon or Scotch and yet enjoy most that I buy.
Thanks!
Damn dude! Thank you!
Here's my take. And get ready for the flack. When it comes down to it the CONSUMER is ultimately responsible for the prices. If the consumers refuse to support the secondary market, refuse to buy from "museum" priced stores, tells the reseller to take a hike then the prices would be what they SHOULD be. There's too many great whiskies out there for reasonable prices, just buy those!
I never even noticed bourbon was expensive. I thought fishing was expensive (70k boat, 70k truck, 10k on equipment to get started)
Stores that gouge prices are worse than resellers for a number of reasons. Mainly, the prices are often 2-3x more than the secondary market and they’re essentially swindling people who aren’t educated enough in whiskey. I can’t tell you how many times I’ve talked random people out of shelling out $150 for a blantons at some store for their dad, brother, boss etc. It’s not like people are stumbling upon the secondary market. You have to search it out which would imply some knowledge of the whiskey game. And I’m not defending secondary; I just firmly believe these museum stores are a larger part of the problem. I completely understand a small markup depending on your circumstances but they’re selling bottles 300% and oftentimes much more. Obviously people like you who educate consumers are extremely important. I’m sure you’ve stopped a lot of people from overpaying for allocated stuff.
Face it, we are affluent people and that allows us to indulge ourselves. I've said for years Starbucks doesn't sell coffee, they sell self indulgence. People treat themselves because they can. Whiskey is a classic example. But, I agree with you on the key points. I do not buy anything on the secondary market. In general, I don't chase rare bottles because we are spoiled for choice with so many great whiskies out there. Sure, I like to explore and try things and rare things are fun, but I get excited about finding a great whisky at a fair price. And, I have significantly reduced my purchases from Diageo and other big players who are driving prices beyond reason. Thanks, Bill.
I’ve been waiting for the bubble to burst for almost 10 years.
Great info. I started drinking whiskey around 2007 and started learning about it around 2010. It’s interesting to me to see these stats over time. I learned early that whiskey goes in and out of style, and a good time to be into whiskey is a few years after it’s gone out of style; the distilleries will have a lot of stuff they can’t seem to sell so drop prices and sell stuff with older age statements
Great info...Thanks! I would also add government taxation - property taxes for the distilleries, taxes on the alcohol sitting in the barrels, transportation taxes (Fuel and licensing), sales taxes, etc. It's amazing to me how much they get away with.
I've gone through "several" bottles of McFarlane's Reserve over the last couple months. Easy, smooth sipping bourbon, 45% ABV, and won't break the bank. I've bought a couple 1.75L bottles for $36!! There are still some good bourbons available for a reasonable price!!
You basically touched on all the problems in bourbon that I have pinpointed myself. The bourbon market truly is a shell of its former self. It's hardly recognizable. Prices up, quality down and limited availability.
I've owned or tried a large number of bourbons. I have enough exposure that I know what I like and what I don't, for bourbon specifically. I stick to these offerings and I try to get single barrel store pick versions of them if I can. I like the "All good things must come to an end" aspect of single barrel store picks. Eventually there will be no more, so enjoy it while it is here. This is the thing that perhaps bothers me the most about people hoarding and bunkering bourbon, specifically allocated bourbon. It will run out, at some point there will be no more of that bottle. Bourbon is a consumable! Not a pokemon to be collected and looked at on a shelf. If somebody is in it for speculation or any other reason except opening it and drinking it and sharing it and enjoying it, they are here for the wrong reasons.
I still pick up bourbon, but I've mostly burned out on it. It's exhausting. I've switched focus more back to Irish whiskey, Scotch, Armagnac, tequila and vodka. Which are the spirits I was into first before I was into bourbon. Give me Early Times Bonded, Old Grand-Dad 114, Knob Creek 12, Driftless Glen and any of the mash bill #1 products from Buffalo Trace. I don't like wheated bourbon and I'm very picky on rye.
This is a fantastic video and so naturally delivered. Keep it up!
Thank you!
Hey I'm from India and bourbon is a new thing here, so after trying out the basics (Jim beam, Jack Daniels) I want to try other stuff too but often they're ridiculously priced. I mean an average quality bourbon for the price of a Talisker 10, how's that going to work? I would advise them to price it right and tap the huge market. Love your videos BTW
The market will always be changing has for years I've been drinking for 40+ years seen the bad times and the good. I do believe its starting to stabilize some what but you have some brands that are just out of their minds with pricing but I don't see that trend to continue.
The only point I wish you would’ve dug into a bit more would be the price of the barrels from the coopers to the distilleries. Outside of that, this was very informative and a fun little take on the current state of bourbon.
I actually looked into that and couldn't find reliable prices. Seems JD has a pretty big stranglehold on the market
@@TheWhiskeyDictionary yeah that makes sense. JD, ISC, & Kelvin probably make up 99% of the market
Great video Bill! You really hit the nail on the head with this one. 👍🏻
Bill I did finally see an ECBP A124 in central Indiana for $90. Yup I passed. Love your videos!
Thanks! I'm glad you passed it up. $90 for that is outrageous... and I LOVE ECBP
I loved this video! Thank you!
Great video.... Thank you for the research and sharing. At the end of the day, we the consumers have the ability to stop this. Too many people (I was one when I started upto a year ago) are consumed by FOMO. This is a race that nobody wins... always chasing for the next one. Sometimes, I go for the unknown, but overall I am more selective. There are ones that I will always search for, Glenmorangie, but for everything else, I am more selective.
Get em Bill!
More videos bashing Buffalo Trace please!
Great information 👍
What are some smaller distillers that could use the support?
A lot of it comes down to where you live. Most small distilleries are able to distribute in their own state, so look on Google for what's local!
If people would just stop buying over priced drinks, the suppliers would be forced to drop the prices to get rid of stock.
Great info Bill - looks like you work in finance industry 8-5. Language and presentation seems very second nature 😊
The software I develop is for financial advisors ;)
I jumped into bourbon hype a couple years ago, I soon started to see these outrageous prices, and realized that for me its not worth it, especially these barrel proof bourbons. I jumped back into craft beer and havent looked back.
My argument is that Costco's stock price is proof that the Walmart workers can get paid enough that they can get off of food stamps, and that the children of Sam Walton shouldn't be as wealthy as they are. Costco's price is 850 dollars a share and Walmart's Share price is 67 dollar
I would argue it's not the Burbon that's the issue but the income of those who buy the Bourbon.
Sportin a black eye huh? Makes the channel seem a little edgy, I like it!
Hah! Funny. I wondered if anyone would notice. It's poison ivy, and I was on steroids!
I'll defend Cooperstown a bit. They are actually producing their own stuff & it's obviously where the hall of fame is. They are a young distillery. They were only charging 35-40 bucks for a bottle last time I bought it.
Their Normal stuff, sure. The baseball decanter? Meh
you forgot bottles as well.... (glass shortages)
Good point. I considered breaking down the cost of the different parts, but got stuck on the complexity of barrel sales, then forgot to do the rest
Just be patient grasshoppah. Stop paying these prices and they will have no other choice, but to lower them. Price vs demand
Inflation
I thought that too, but inflation has gone up about 67% within the 20 years I concentrated on. Not enough to justify what we are seeing
I wonder what percentage of the people who pay ridiculous prices for a whiskey also drive a corvette and live in a trailer. A fool and his money are soon parted. I generally will not pay more than $60 for a bottle of bourbon or Scotch and yet enjoy most that I buy.
I actually did this video only on Bourbon because I have other opinions about scotch. Equal opinions, but the data is very different