202 - What if there was a Legal Secondary Market? with Nate Shue

Bourbon Pursuit

Hobbies, Food, Leisure, Arts

4.8 • 926 Ratings

🗓️ 23 May 2019

⏱️ 69 minutes

🔗️ Recording | iTunes | RSS

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Summary

What if there was a legalized secondary market? Some may argue there is with new vintage laws being introduced around the country, but then there is the massive flood of online marketplaces that don't have any regulation whatsoever. It's a touchy subject because anyone that is really into bourbon, has seemed to find their way into these corners of the web. And lets be honest, most of us have had to do some sort of buy, sell, or trade to get bottles that we desire. It's the nature of the game and this show looks at the premise of if you could build your own legal secondary market, what would it look like? We are joined by bourbon enthusiast Nate Shue, a Patreon supporter, on this topic. Show Notes: KDA and BIER report on the Kentucky Bourbon industry’s energy, water, and emissions data. - https://www.bieroundtable.com/news/formalizing-sustainability-kentucky-bourbon-industry-collaborates-with-bier/ Whiskey Stocks and the Bubble Burst - https://www.barrons.com/articles/u-s-whiskey-stocks-like-brown-forman-have-soared-beware-the-bourbon-bubble-51557514898 This week’s Above the Char with Fred Minnick talks about whiskey 'first' marketing. When did you start getting into bourbon? What do you think started the secondary market craze? What are the issues with the secondary market? Do you think referral secondary markets like Wine Searcher or Blur Book hurt or help? How does the value get established? What would happen if you removed the community aspect of the secondary market? Do you think other states should have laws similar to Washington D.C.? What about auction houses like Christie's? If you were to have a legal secondary market, what would it look like? Should distilleries price the bourbon so high that it basically eliminates the secondary market? Do you think if they shut down the secondary market overnight, would it just come back? Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	I got a two and a half year old, so there's limited things to be done.
0:06.8	How about you not be a terror this weekend?
0:09.1	Do that be cool?
0:14.7	Hey, everyone, Kenny here, and this is episode 202 of Bourbon Pursuit. And as usual, we have a little bit of the news to go through. And at Bourbon Pursuit, we try to find new and interesting subjects to talk about. And one podcast we thought of doing a while ago was saying, what is the environmental impact of bourbon? And we haven't really found
0:38.9	that right guest and that right subject matter because I don't know if that's really what you
0:43.4	all find engaging or interesting. So we haven't really done it. However, I find it a little bit
0:48.0	interesting and there was a news report that came out this past week. And this was a partnership
0:52.8	that was done by the KDA and Bear in 2018.
0:56.2	And it's the first ever report to actually measure the Kentucky bourbon industry's use of
1:01.6	energy, water, and emissions data. Four Roses, Heaven Hill, Ozzie Tyler, Wild Turkey, Bacardi,
1:08.8	Bean Suntory, Brown Forman, and Diageo all submitted data, and this ensures
1:13.9	that it represents about 98% of the KDA membership by production volume. Overall, Kentucky
1:19.8	distilleries' use of energy and water consistently declined from 2013 to 2017 and still rested
1:27.1	below the global distilleries averages in 2017.
1:31.0	The average water use ratio for Kentucky distilleries decreased 41% from 2013 to 2017.
1:39.0	This represents a total water use avoidance of more than 6 million kilo-leaders. Now, I don't know what a kilo
1:45.7	liter is. I don't live in the metric system. So to put it in layman terms, it's enough to fill
1:51.2	an Olympic-sized swimming pool nearly 2,400 times. Now, one example of this is Heaven Hill
1:57.1	updated its water source at Bernheim Distillery. The company reduced its water
2:01.5	usage by 33%. It placed two still condensers onto a cooling tower loop. The distillery now
2:07.6	recycles within its operations instead of sourcing new water. This saves around 330,000 gallons
2:14.7	of water per day. You can read the entire report in our show notes.
	...

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