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Our ongoing observations about whether the boom has peaked


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Maybe I misinterpreted their ad?

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3 minutes ago, Vosgar said:

Maybe I misinterpreted their ad?

No, I think they're just being plain stupid.

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Maybe the email should say "a real fancy bottle and some mystery juice".

How about bring back I.W. Harper bonded (with DSP # on the label) for an everyday price?

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On the good news front, I just enjoyed the hell out of a bottle of Jim Beam Black for 20 euros while in port over here in Malta...

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  • 1 month later...

Went to the 4 roses gift shop today. 

No BP bottles. 

No special gift shop bottles. 

 

The boom is still in full effect.

:(

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  • 3 weeks later...

Haven't read this entire thread but in my area I would say the peak still hasn't been reached.  When I fell in love with bourbon maybe eight years ago there were only a couple bottles @ $100+ on the top shelf and now the top two shelves and some on the third are $100+ and the inventory turns.

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I was in Total Wine and more in my area yesterday, and while the boom is still in effect (no Elmer, Rock Hill, Weller, Blanton's, etc..) the sheer volume of choices is mind boggling.  I have an extensive home bar (100 different bottles of American whiskey), with a lot of variety, but dear god these stores are packed with bottles, so many bottles.  I've tried so many things over the years and I plan to continue that but dear lord, I counted 54 bottles yesterday that I've never tried!

 

This market cannot sustain itself.  

 

With the sheer volume of micro-distillers available today, coming online seemingly each week, and the rick houses full of aging spirits in Kentucky, there's too much product out there.  

 

The inevitable bust is going to be spectacular and awful.  

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3 minutes ago, mikeydk said:

I was in Total Wine and more in my area yesterday, and while the boom is still in effect (no Elmer, Rock Hill, Weller, Blanton's, etc..) the sheer volume of choices is mind boggling.  I have an extensive home bar (100 different bottles of American whiskey), with a lot of variety, but dear god these stores are packed with bottles, so many bottles.  I've tried so many things over the years and I plan to continue that but dear lord, I counted 54 bottles yesterday that I've never tried!

 

This market cannot sustain itself.  

 

With the sheer volume of micro-distillers available today, coming online seemingly each week, and the rick houses full of aging spirits in Kentucky, there's too much product out there.  

 

The inevitable bust is going to be spectacular and awful.  

I doubt it. All those bottles of micros you've never heard of will slowly disappear but the brands that get traction like Smooth Ambler, Barrell, etc will take their market share. The variety might diminish but the demand is here to stay IMO.

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17 minutes ago, mikeydk said:

I was in Total Wine and more in my area yesterday, and while the boom is still in effect (no Elmer, Rock Hill, Weller, Blanton's, etc..) the sheer volume of choices is mind boggling.  I have an extensive home bar (100 different bottles of American whiskey), with a lot of variety, but dear god these stores are packed with bottles, so many bottles.  I've tried so many things over the years and I plan to continue that but dear lord, I counted 54 bottles yesterday that I've never tried!

 

This market cannot sustain itself.  

 

With the sheer volume of micro-distillers available today, coming online seemingly each week, and the rick houses full of aging spirits in Kentucky, there's too much product out there.  

 

The inevitable bust is going to be spectacular and awful.  

Based on my own experience in a TW store, I’m going to guess that all or the majority of those 54 bottles were craft or NDP brands. Those will go away first when the market sags. The majors will be fine. 

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20 minutes ago, flahute said:

Based on my own experience in a TW store, I’m going to guess that all or the majority of those 54 bottles were craft or NDP brands. Those will go away first when the market sags. The majors will be fine. 

Yea, exactly.  Frankly, most of the 54 probably have the same product inside of the bottle - MGP.

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Yes, there were a great many of NDP's on the wall, for sure.  While the majors will be fine, will the demand still be there when their warehouses start to feed into the system?  Or will the decreased demand as aged rum and mezcal continues to gain traction decrease the customer base?  Hell, many of us here could probably go 10 years without buying any bottles at all, and simply live off the stash that currently exists in our homes.  I know that I could.  So when all that Buffalo Trace quantity starts landing, will there be enough folks left to sustain the retail sales?  As the NDP micro's get relegated to the dust bin of history, will the "hype" remain hot enough to drive purchases in the next 10 years?  

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5 hours ago, TunnelTiger said:

Haven't read this entire thread but in my area I would say the peak still hasn't been reached.  When I fell in love with bourbon maybe eight years ago there were only a couple bottles @ $100+ on the top shelf and now the top two shelves and some on the third are $100+ and the inventory turns.

Hadn't seen a post from you in awhile.  Every time flahute (Steve) posts, I am reminded of this exchange in 2015 or so:

 

TT: Everything goes better with a little OGD114.

squire: Amen...............

 

And, thanks for the two-shelf observation.  Hadn't thought about that.  Was in a store today which had multiples of the CEHTs, SAOSs, basic BT, etc., ALL at MSRP.  But, MSRP now is 20% higher than it was in 2014.  According to my credit card statements.  It's nice that inventories are getting back to normal.

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5 hours ago, CUfan99 said:

The variety might diminish but the demand is here to stay IMO.

That's exactly what the distilleries thought into the early 1970s...

 

That's not how it played out.

Edited by The Black Tot
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NOBODY thought of Bourbon (or most whiskey) as a commodity in which to be 'invested' in those halcyon days.    Now, many buy whiskeys not to drink; but to squirrel away in hopes of later profit.   This fact alone makes the current 'boom' completely different and unlikely to end the same way.    ...And, that doesn't take into account the "collectors" of Bourbon, who may well drink, or intend to drink, much of it; but hoard waaaaaay more than will ever be consumed by them ...and maybe even by their family and friends, too; maybe not even way after the collector has passed on to his reward.

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Of course as tariffs kick in and bourbon exports trend down that could lead to lower prices here due to excess inventory.

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2 hours ago, TunnelTiger said:

Of course as tariffs kick in and bourbon exports trend down that could lead to lower prices here due to excess inventory.

One can only hope...

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From my standpoint, as long as the demand is there, craft distilleries (actually producing) that put out good product will continue to thrive, and same with the NDP's.  As long as there is demand, these will continue to grow.  However, they will be the first ones to fall off once the boom is starting to peak/flatten out.  Once the boom is on the downward trend these will be the first to go.  The ones that made a name for themselves will likely continue to go on, but many of the craft places will fall off.  It's simple economics.  But, I don't see the craft places start to drop off until the boom is on the downward trend. 

 

I do think that in a way, they are definitely helping the industry, whether it be actually distilling or NDP, the more brands of better stuff is on the shelf, the less people are buying of the hard to get stuff.  On the flip side of that though, the "more people" that are looking to buy in general, the more sheer number of people are looking for those hard to get bottles.

 

It's all just a waiting game, once the bust does happen, hopefully things like 10-12 year FR picks will be the norm again, EC can get it's age statement back, and we can go back to buying mostly what we want for a decent price.

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On 8/24/2018 at 12:57 PM, CUfan99 said:

I doubt it. All those bottles of micros you've never heard of will slowly disappear but the brands that get traction like Smooth Ambler, Barrell, etc will take their market share. The variety might diminish but the demand is here to stay IMO.

I've got no problem with all those rando micros with mystery juice inside disappearing. 

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  • 2 months later...
1 hour ago, Whiskey Junkie said:

I visited 6 stores within a 15 mile radius.  Many of these stores are in pricey neighborhoods. I expected to find the common whiskeys at premiums but it was the reverse.  A few stores had new owners.  Aside from the annual limited stuff or the ridiculous Pappy etc, I saw what I think is a saturated market on all spirits.  I am going to state that I believe we are approaching or have reached a peak and store inventories are busting at the seams.  I realize stores are stocked for Christmas but this looks and feels much different.  I am betting the craft bourbon, MGP sourced stuff and all similar are in for a dive.  Just my 2 cents.

 

Merry Christmas and happy new year to all.

 

WJ

The people paying $3000 for Bald Monk refute the notion that we are at the peak. 

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4 hours ago, flahute said:

The people paying $3000 for Bald Monk refute the notion that we are at the peak. 

For some reason I feel good about the fact that I don't even know what that is, thoughI would guess that Ed Bley has something to do with it if I had to wager a guess. 

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For some reason I feel good about the fact that I don't even know what that is, thoughI would guess that Ed Bley has something to do with it if I had to wager a guess. 

I’m going to guess that’s Steve’s humorous take on PVW.
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On 11/24/2018 at 5:10 PM, flahute said:

The people paying $3000 for Bald Monk refute the notion that we are at the peak. 

That is exactly the kind of ridiculousness that happens at the peak.

 

I've talked to a few people that have tasted it and none of them were impressed.

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On 11/24/2018 at 10:41 PM, lcpfratn said:


I’m going to guess that’s Steve’s humorous take on PVW.

It's mentioned in this article by Minnick and is apparently an "Underground" blend, people are fucking stupid....

https://www.forbes.com/sites/fredminnick/2018/11/05/how-a-bourbon-auction-went-crazy-to-defeat-cancer/#1c8d2b86736f

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