325 - Is Bourbon Broken? Part 2: The Secondary Market based off Bourbon & Banter

Bourbon Pursuit

Hobbies, Food, Arts, Leisure

4.9 • 866 Ratings

🗓️ 30 September 2021

⏱️ 59 minutes

🔗️ Recording | iTunes | RSS

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Summary

Last week, we kicked off the series of analyzing Bourbon & Banter's article on "Is Bourbon Broken?" and this next installment looks at the secondary market. The prices of bourbon have been growing immensely and who knows if the prices will ever drop. Will there ever be an end in sight for consumers buying on the secondary or should companies adjust their prices accordingly? We tackle all this and more. Show Partners: Catoctin Creek has been honoring that tradition of small craft rye whisky since 2009. Learn more at CatoctinCreekDistilling.com. Smooth Ambler builds on the traditional roots of American whiskey in West Virginia. Visit SmoothAmbler.com to learn more. Wilderness Trail is Sweet Mash Kentucky Straight Bourbon and Rye Whiskey distilled, aged, and bottled in Danville, Kentucky. Learn more at WildernessTrailDistillery.com. You can now buy Barrell Craft Spirits products online and have them shipped right to your door. Visit BarrellBourbon.com and click Buy Now. Spirits of French Lick is delivering the finest hand crafted Bottled in Bond bourbons. Check out SpiritsofFrenchLick.com. Savor every drop of summer at Total Wine & More! You’re sure to find cool prices in-store or online at TotalWine.com. Heaven Hill Distillery has been lifting America’s spirit since 1935. Check out educational resources and sign up for their newsletter at HeavenHillDistillery.com. Show Notes: This week’s Above the Char with Fred Minnick (@fredminnick) talks about mixing bourbon. Are people forced to buy special bottles on the secondary market these days? Is it foolish to buy bottles for so much more than retail? How can you deter bottle flipping? Is there anything distilleries can do to prevent flipping on the secondary market? At what point will we hit the price ceiling? Is it ethical for distillers to look at pricing on the secondary market to make business decisions? Are auctions setting the secondary prices of bottles? How do auctions get a pass unlike the secondary market? Are current pricing strategies fair to the consumer?

Transcript

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0:00.0	But I kind of want to throw it to you, Kenny.
0:04.0	Everybody wants to throw it to each other.
0:05.8	Right?
0:19.2	This is episode 325 of Bourbon Pursuit, the podcast featuring news, reviews, and interviews with people
0:22.7	making the bourbon whiskey industry happen.
0:25.1	I'm one of your host, Kenny Coleman, and before we start today's episode, with the second
0:29.1	installment on our four-part series of Is Bourbon Broken?
0:32.1	Here's your weekly Bourbon News Update.
0:34.5	If you, your store, or maybe a private group picked a George Remus barrel this past year,
0:39.4	well, get ready to have it in your hand soon because Luxco announced that George Remus single
0:44.0	barrel selections are headed to participating retailers in September. All single barrel selections
0:49.1	for George Remus were done back in March of this past year for everyone and they got to
0:53.6	choose barrels between the
0:54.6	21% and the 36% rye mashbills, all coming from MGP. So that's good news for our private barrel
1:01.6	club members, because we picked barrel number 572 back in March, and that's going to be in our
1:06.2	hands very soon as well. Barton 1792 just wrapped up its $25 million warehouse expansion,
1:13.0	which is an investment to increase barrel storage capacity by around 25%. This expansion on the
1:18.8	distillery constructed of three new warehouses, and the first was built on site at the historic
1:23.0	distillery, which is the first one since 1963. Warehouse 33 was the first new warehouse be built. It was
1:29.4	completed back in February and now is nearly filled with new barrels of whiskey. Warehouse 34 was
1:34.3	built this past summer and is about 70% filled with barrels. And Warehouse 35 was just completed
1:39.2	with new barrels coming in in just the next few weeks. These warehouses are made of traditional
	...

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