Pricing

[KyleCBreese]

I was reading through the recent thread about Willett and saw this quote from DEelfinn... "My tolerance for price has definitely increased as the bourbon boom continued to expand."

I wanted to know what others feel about this? Are you simply spending more as prices rise? Do you draw a line in the sand at a certain price point and now some bottles you enjoyed in the past are out of your range? Or have you just given up on the high prices and stick to the low-cost staples?

[Flyfish]

I was reading through the recent thread about Willett and saw this quote from DEelfinn... "My tolerance for price has definitely increased as the bourbon boom continued to expand."

I wanted to know what others feel about this? Are you simply spending more as prices rise? Do you draw a line in the sand at a certain price point and now some bottles you enjoyed in the past are out of your range? Or have you just given up on the high prices and stick to the low-cost staples?

All of the above. Years ago I swore off $30+ bourbon. Then promptly bought some. I have learned to appreciate the virtues of some bourbons on the bottom shelf. Drinking HH BIBs, for example, is even more satisfying when I consider the value per pour. And I don't buy Booker's or Blanton's at OH prices when I can get them for $20 less in KY. Mostly, though, I am just grateful that there are so many excellent bourbons for less than $30.

[garbanzobean]

I would say my price tolerance for bourbon has markedly decreased in the past two years. Like an idiot, I resumed my interest in bourbon (put on pause for a few years due to work) by trying to buy all the limited editions I could find. In the course of searching for these LEs, I came across SB.com. After reading the forums for a few months, I ended up with a lengthy list of sub-$40 bourbons that were supposed to be outstanding. After going through a good bit of that list and comparing it to my fancy LEs, I discovered that my personal price/enjoyment chart starts to become scarily asymptotic rather quickly after about $40-$50. Worse still, the effort required to obtain these LEs started to suck the life out of me. Specifically, the Orphan Barrel project was the straw that broke the camel's back. There needs to be an increase in intrinsic quality of the spirit to justify those LEs, and frankly there often isn't. Now I typically will spend a little more as a one time buy to indulge my curiousity, but that's about it.

Sometimes I wonder if some savvy distillers/NDPs, distributors, and liquor store owners aren't following Nike's basketball shoe marketing methodology. Nike purposely releases a flood of new revisions of Jordans in batches, and then "discontinues" each version for a period of time (only to bring the most popular ones back later on at an increased price). This causes Jordan enthusiasts to engage in panic buying at each release, and the contrived shortage of each release allows Nike to push prices up more quickly than would otherwise be accepted.

Probably not true for all cases, but it's crossed my mind lately.

[dcbt]

I think I'm in the minority, but I still think bourbon in general is a helluva bargain, considering all the time, effort, taxes, regulation, etc involved. There are so many good $30 bottles, which comes out to $2 per pour on average. Hard to find fault with that.

Having said that, note to distilleries reading this: ignore me.

[The Black Tot]

I wish the most expensive ones were cheaper, since I would prefer to try all of 'em.

But we are buyers in a sellers' market. It just means you have to think harder and make tougher decisions about value than you would in a glut, where you're tripping over good options.

Whenever I see one that is uncomfortably expensive for me, I console myself that I will likely live to see the next glut, and I leave it.

That said, I'll pay sticker for a PVW23 if one comes my way this year. So yes, ipso facto I suppose I have a high tolerance for pricing.

Despite this, as time goes on, I seem to be buying fewer and fewer $100+ bottles, and I say "hell no!" a whole lot more.

So the bourbon boom may not be cooling off for everyone else, but I have shifted focus as I learn more about what I value most.

[ebo]

I no longer spend a lot of money on whisk(e)y of any kind. If I had the disposable income, I might . Unfortunately, divorce and all that comes with it tends to "wise you up" at a rapid pace!

I don't by Scotch at all anymore, even though I love the stuff. I try to keep my purchases to no more than around

$35.00 a bottle. Usually I'll pick up two bottles at around $40.00. Unless I win the lottery, my days of having 100+ bottles of whisk(e)y on hand are over.... let alone expensive bottles.

[mbroo5880i]

My tolerance has increased some with the increase in prices. I have learned to never say "never." I paid $27.99 recently for a bottle of OWA that less than a year ago was less than $20. I wanted it and I thought that was a fair price based on availability and the price of comparable bourbon. For me price is a matter of practicality, I only have so much "bourbon money." So, if I buy a bottle for $80, then I have to balance that with something more reasonably priced. I am not the guy who will walk out of a store with $400 worth of limited editions. But, I can buy a BTAC, PVW, FR LE occasionally, just not everyday.

[MauiSon]

Ebo, I think 'wise you up' should be replaced by 'poor you down'.

Mbroo, you're lucky you can find those occasional LEs.

Personally, I have a problem paying higher prices, so I usually over-stock when they're lower. Silly me. I have purchased ECBP at increasing prices so far, tho.

Edited September 11, 2014 by MauiSon

[The Black Tot]

I am starting to feel like the only SB member who hasn't seen an ECBP on a shelf.

[393foureyedfox]

i spend more, in total, than I did a year ago, but what I buy and what I pay per bottle of any one of them is the same (Booker's, Dickel 9, HH6BIB, etc, are all the same price today as two years ago here)....I just have lots more of it around (I buy it faster than I drink it, as many on here do). I know what I like, and it is currently available easily and I have the means, and its not going to get cheaper....so I load up when I find a sale.

That said, Its no secret here about my $50 rule. Many disagree with me, but I feel there is not a $100 bourbon out there that is 10 times better than a $10 HH6BIB, or twice as good as $45 bottles of Dickel 9 or Booker's. And when the prices go even higher, it further makes my point, if only to myself. If you enjoy a $200 bottle and have the means, go for it....but not me.

There's too much good stuff out there in the $30 range to bother with going over $50.........to me.

[393foureyedfox]

I am starting to feel like the only SB member who hasn't seen an ECBP on a shelf.

careful.....youre starting to sound like me a year ago!

[qman22]

My tolerance for bourbon pricing has gone up. I've coped with it by basically cutting out my purchases in the middle tier. I buy the limited releases I want and can find and also buy the sub $20 bottles I enjoy. The loss of age statements has contributed to my change in buying habits as well. I don't see much value in $30 and up NAS juice. If I do buy in that price range it's usually FR or Old Scout barrel picks.

[ramblinman]

Its a simple pleasure and really on the low side as far as entertainment goes that I don't worry too much about it.

If a friend (or two) and I can enjoy a 1/4 to a 1/2 of a bottle in an evening, talking about the whiskey itself and whatever else for anywhere from $10-$20 out of my pocket then that's more than worth it. Costs more to take the wife out to a movie these days.

[squire]

Costs less than a forgettable fast food meal.

[Yeti]

I spent all the money I'll ever have on whiskey in 2013, so the increasing prices aren't a huge concern for me one way or the other.

[squire]

Well at least 'ya didn't waste it.

[zillah]

After chasing the top and bottom shelves, it seems like the middle shelf ($20 - $40), is just right.

[Renegator]

I've noticed my tolerance for pricing has changed drastically. Just two years ago - I passed on a bottle of EC18 that was $48. I repeat - $48. I thought it was too much to spend on a bottle of bourbon. Now, I don't even bat an eye on spending $50 - $60 for a bottle. My new threshold is $100 but I'm afraid with the ever increasing prices of Limited Editions - I may be crossing that threshold this year.

[petrel800]

My tolerance for pricing is a personal choice and based on what is available whenever I walk into a store. I weigh the price and make a decision. Have I paid more than MSRP, yes, have I paid less than MSRP, yes, luck of the draw. Bourbon is still a pretty screaming deal in most cases. BTAC, 4R LEs, . . . they're all a steal at MSRP. It's why they are so hard to find.

Beyond that, let me add, dollars aren't exactly worth what they were 5-10 years ago. Look at the price of gas, groceries, . . . look at the quality of goods vs what they were just a few years ago. If you want to believe there is no inflation, go ahead, but it appears to me that the dollar doesn't exactly have the buying power it once had. To what extent that has added to bourbon, I don't know, but I do consider it before I get bent about something that was less a few years ago.

[TunnelTiger]

My tolerance for paying more just continues to go up, just like it does for the gasoline that goes in my eco-friendly Expedition while going up down I75 at 80 mph.

It is what it is.

[Tony Santana]

Like so many things, it's all relative. Heck, I can go into a bar with a couple of friends, I buy a round or two, they buy a round or two, and easily spend $50-60 with a tip, and that's not buying any top shelf stuff. If I can buy an ECBP (don't feel like the Lone Ranger, Black Tot, I never see it on a shelf either) or a 4R store selection for that price range, it's going to last me a heck of a lot longer and I'll be drinking a better quality bourbon. Heck, I jus dropped over $200 on a meal last night. It was a special occasion, and it was an excellent meal - don't regret it, but I've got nothing to show for it today but a credit card slip.

So, the answer for me is - it depends. I won't usually spend more than $100 a bottle, but the collector and explorer in me wants to see - and taste - what's in those limited edition or unusual/harder to find bottles. I still drink more EWSB than any other selection, and have more of it in the bunker than anything else, but if I feel like drinking some BTEC or Very Old Scout - or even some Rhetoric for that matter - it's nice to have that option.

I'm not paying crazy money on the secondary market. I am treating myself on occasion. I'm not so filthy rich I don't look at price and take it into consideration, but I'm paying all my bills without hardship. My wife hasn't made me cry uncle - at least not yet. So within what I deem to be reason, I'll buy what I want without fretting too much about price.

[berto]

The line was firm at $100 but I've crossed that threshold a few times already this year and will probably do it again if the limited releases come my way. Price increases combined with sales tax will push me over. I don't play the secondary market and I'm unwilling to support retailers charging what I consider excessive amounts over MSRP so I won't go too far over. I like to try the limited stuff and I'd rather buy a bottle for around $100 than buy a pour of the same stuff for $20-$40. I'm just as happy with less expensive alternatives.

[Tony Santana]

I don't play the secondary market and I'm unwilling to support retailers charging what I consider excessive amounts over MSRP so I won't go too far over. .

I'll add that to my post. My "within reason" criteria includes "no gouging". There's nothing I want that badly when there are so many other options.

[squire]

I have an unlimited tolerance for free whisky in any price range.

[393foureyedfox]

I have an unlimited tolerance for free whisky in any price range.