Peerless Rye

[wadewood]

On 12/1/2018 at 10:50 PM, mbroo5880i said:

Stopped by a local chain store today in a different area of Indy and saw Peerless Rye on sale for $59.99.  Interestingly, they had one in their glass case for $129.99 which was the original price when they first got it.  They have since lowered the regular price to $99.99.  Now, it is on sale for $59.99.  They had several cases on an end display.  I noticed the sale started in October and doesn't end until January.  It appears they are trying to move this stuff.  I was at my local store in this chain recently and I don't recall having seen it at the sale price, even though it has apparently been on sale for almost 2 months.

I saw a picture of store display with it for $69 on internet.  Fancy display sign so guessing it came from Peerless.  My guess is they are dumping it in certain markets as they release the 3 year version.  In Texas this was $129, bet those folks that bought at that price are feeling pretty foolish.

[mbroo5880i]

11 hours ago, wadewood said:

I saw a picture of store display with it for $69 on internet.  Fancy display sign so guessing it came from Peerless.  My guess is they are dumping it in certain markets as they release the 3 year version.  In Texas this was $129, bet those folks that bought at that price are feeling pretty foolish.

Looks like the same display and arrangement.  I stopped in at another store in the same chain today and they didn't even have a shelf spot for it.  

 

It is good for what it is but not worth anywhere near the price.  I might be a buyer when the price drops to $29.99.  Of course, I said the same thing with Woodford's Master Collection Rye Two Bottle release.  

[EarthQuake]

They can't move 2 year old rye at $130 a bottle? What a shocking development.

 

I might consider this at $70. But that still seems about 2x too much. At $50 I would probably pull the trigger just to satisfy my curiosity.

[GaryT]

I tried this and will admit I was impressed with it; absolutely the best 2 yr whiskey I've ever tried (reminded more of a 5 yr MGP rye to be honest).  And I'd happily pay what I used to pay for 5 yr MGP rye before - around $40.  The fact that it is only 2 yrs doesn't bug me that much; it's about how much do I enjoy it and value that enjoyment.  As an interesting and tasty pour, for me that'd be $40.  So only one more 50% off away from that   Although to be honest . . . if I hadn't had a chance to try this before . . . I'd be a sucker for the half-off thing and probably blow $70 on it.  

[JoeTerp]

This discounting has even reached VA ABC as it’s now $100 (and down from $130). VA ABC usually only puts clearance items on sale for more than 10%, so this is pretty rare. 

[Jazzhead]

The Pennsylvania state stores have it priced at over $100.   If they run a sale at $59.99, I'll bite.   

[smokinjoe]

5 hours ago, Jazzhead said:

The Pennsylvania state stores have it priced at over $100.   If they run a sale at $59.99, I'll bite.   

If I see it at $35.99...uh, $21.60...I might take a shot.  

[flahute]

Not surprised to see this happen. I do like it, but the price point is ridiculous. I'm happy to see that not enough people are willing to buy it at the original price. Is some common sense finally entering the whiskey world?

[DCFan]

I was at the ABC this morning and they have it on sale $30 off, down to $99.99. Still too much especially with some Pikesville sitting nearby for $50.

[Jazz June]

What do we think retailers actually paid for this themselves? At what point are they taking a loss to get rid of these? Will this stop them from stocking this brand in the future?

 

A two year rye for $130 did seem over the top and it isn't too surprising this didn't work. Also, there seems to be tons of this stuff. If it had been more limited, maybe it would have sold?

[GaryT]

On 12/21/2018 at 8:50 AM, Jazz June said:

What do we think retailers actually paid for this themselves? At what point are they taking a loss to get rid of these? Will this stop them from stocking this brand in the future?

 

A two year rye for $130 did seem over the top and it isn't too surprising this didn't work. Also, there seems to be tons of this stuff. If it had been more limited, maybe it would have sold?

I think if they would have hyped the "limited" thing, they may have sold a few more (or at least not been stuck with so many; I'd like to think that if I were a store owner, I would have avoided that catastrophe of having cases of this stuff; but who knows what deals the distributors pushed to move it).  Saw that the 3 yr will be released soon at the same price point - and am curious how many stores will look at that and turn their nose up.

 

If they're going to release a new vintage every year with a bit more age on it, you'd think they wouldn't want to bottle a ton at these lower ages.  I get that for cash flow they've got to do that, but seems like they could just as easily kill the brand.  How many folks bought one, and while it is interesting thought "Not until it gets 10 yrs+".  Feels like they reached too far.  Will be interested to see how the distributors and retailers respond.  I know I won't be inquiring about the 3 yr one (50% more age at the SAME price, I mean - what a bargain . . . said no one).

[Kane]

On 12/30/2018 at 10:00 AM, GaryT said:

How many folks bought one, and while it is interesting thought "Not until it gets 10 yrs+".

Actually, not too many. My impression is everybody who could stomach paying that for 2yr juice ended up enjoying it a whole lot. Makes me wonder, what would've happened if they released this as a NAS? Would it have moved faster?

 

Don't get me wrong, I'm still not paying $60 let alone $130 on principle!

[lcpfratn]

...
Don't get me wrong, I'm still not paying $60 let alone $130 on principle!

I’m sure I’ve said this before, but an old sayin’ that my grandma used to say is “pigs get fat and hogs get slaughtered.” Peerless was a greedy hog with their pricing, and if they eventually suffer financially as a result, it serves them right. I doubt I’ll ever buy a bottle at this point just on principle because of their initial price gouging. There are lots of better ryes at substantially lower prices or substantially higher ages...

[wadewood]

Their local wholesaler rep confirmed they reduced the price down $30.

[GaryT]

14 hours ago, wadewood said:

Their local wholesaler rep confirmed they reduced the price down $30.

So if they had only reduced the price down TO $30 . . . they'd only be minor-league gouging  

[GaryT]

Was strolling through Total Wine yesterday and saw that they now offer this in 200 mL for $27.99 - which I thought was actually a "good deal" (note here the 750 mL is still $99.99).  Usually you're paying a premium for the smaller sizes; that's an industry standard - while the markup can vary between labels.  Here are some examples (based on TW's prices yesterday), which found a markup ranging from 35% to 75%:

 

Maker's Mark: $9.99 for 200mL; $22.49 for 750mL; 67% premium markup (at per mL pricing for the 200 - you're paying just under a nickel, so a 750 would be $37.46 vs $22.49)

Jim Beam White Label: $6.99 for 200 mL; $14.99 for 750mL; 75% premium markup

Jack Daniel's Black Label: $7.99 for 200 mL; $19.99 for 750mL; 50% premium markup

Bulleit Bourbon: $8.99 for 200 mL; $24.99 for 750mL; 35% premium markup

 

So the math on the Peerless is actually a bargain (or in their case, approaching reasonable):

Peerless Rye (24 mos): $27.99 for 200 mL; $99.99 for 750mL; 5% premium markup

Now if/when the price drops to $69.99 here, that would be a more traditional markup of 50%.  Which is still below on-premise mark-ups for a pour.  So if you're curious about this one, I think that 200 mL is actually pretty reasonable.  That breaks down to $8.29 for a 2 oz pour (and around here - you ain't trying this on-prem for that!)  Plus you've got enough for 3 solid 2 oz pours.  

 

My hats off to them for at least bottling this at the 200 mL size.  I've been saying for years if they did this with BTAC and charged their typical (even more than typical markup), the producer/distributor/retailer would all make more - and more consumers would have an opportunity to actually drink the stuff.  

[Oli77]

^ I like your analysis and your breakdown, it helped me rationalize the purchase of my second 200mL bottle of a 3 year old Pearless single barrel (named Ryediculous). 

 

This rye was very floral, rich, and very well rounded. Great mouth feel and lasted a while. It was an excellent purchase. I think I paid $~35 for it though. 

 

It is much better than the 2 year they are pushing now. 

[LCWoody]

On 12/31/2018 at 12:20 PM, Kane said:

Actually, not too many. My impression is everybody who could stomach paying that for 2yr juice ended up enjoying it a whole lot. Makes me wonder, what would've happened if they released this as a NAS? Would it have moved faster?

 

Don't get me wrong, I'm still not paying $60 let alone $130 on principle!

I think that Ryes have some of the same rules & regs. that bourbon has, in that anything under 4y has to be age stated? I'm with you on the fact that I wouldn't have put the age, but I think they had to.

This just hit the shelves around here for $81.00 a few weeks ago, and its not moving. I think that the people that were willing to spend the money on this are not buying a second bottle.

I think it was GaryT that made the point about if they would have made it more "limited" I think it would have been better for Peerless. I have tried this and its good, but I'm not buying one. I love the free market, and do hope they sell every one that's out there, but I'm out, until it gets reasonable. 

I do believe they will have to adjust to the market at some point, when the product just basically quits moving.    

[Jazzhead]

The Pennsy State Stores have marked down their remaining bottles of the 2-year rye to $95.   Not sure if they will be bringing in the stuff again when the age statement increases.

 

While that's a decent discount from what it was,  it's still too pricey for me to bite.    I have yet to find Peerless in a bar so I can satisfy my curiousity.     

[lcpfratn]

Well, I know I said I’d probably never buy a bottle of Peerless, but when I walked into the Kroger in Bardstown this evening and saw the 3yr on sale for $79.99...curiosity finally got the better of me! It’s still overpriced, but I wonder whether they are finally having to lower their prices in order to move the product.

[flahute]

14 minutes ago, lcpfratn said:

Well, I know I said I’d probably never buy a bottle of Peerless, but when I walked into the Kroger in Bardstown this evening and saw the 3yr on sale for $79.99...curiosity finally got the better of me! It’s still overpriced, but I wonder whether they are finally having to lower their prices in order to move the product.

Yes they are.

I was there back in late August and did the tasting and one of the 3yr old ryes, a barrel they called Black Forest, was truly stellar.

It was $125 at the distillery so I decided to pass, but thinking back on it I sometimes question the decision.

I think what this means is that when the bourbon gets more years on it, it's going to be really good and the price is creeping down so we'll see.

[The Black Tot]

Time is on our side with Peerless,

 

The rye must get older, and the rise of solid rye competition from the majors (who have massively ramped up their rye production) will force their price into line.

 

I'm glad the 3yr old is getting rave reviews. I'll buy when it's 6 or older and 50 bucks or less for a 750. Yes, I believe that will happen.

[flahute]

2 hours ago, The Black Tot said:

Time is on our side with Peerless,

 

The rye must get older, and the rise of solid rye competition from the majors (who have massively ramped up their rye production) will force their price into line.

 

I'm glad the 3yr old is getting rave reviews. I'll buy when it's 6 or older and 50 bucks or less for a 750. Yes, I believe that will happen.

Exactly this.

While on that tasting, we tried their 4yr old bourbon. It was good. The future is bright for these guys and as the prices drop I will be waiting to swoop in.

[Jazzhead]

Well,  a couple of weeks ago II finally went and sprung for the Peerless Rye.    The Pennsy state stores have been offering for the last year a 2-year single barrel for $125,  and they've just now stocked a 3-year small batch for $95.    A  year's worth of curiousity finally got the better of me and my wallet. 

 

I have to say it's doggone good.    It's balanced (which I had hoped to be the case with a small batch) and offers an initial kick of rye spice followed by a finish of graham cracker.    It's grain forward as I'd expect a young craft whiskey to be,  but lacks the harshness and grassiness that ruins some craft bourbons for me.    Is it worth the C-note?    Well,  I'll put it this way -  I don't regret the purchase and am happy to have it in my rotation with my other two open rye bottles (Willett 4-year and JD single barrel).    

[JoeTerp]

On 9/29/2019 at 7:06 PM, The Black Tot said:

Time is on our side with Peerless,

 

The rye must get older, and the rise of solid rye competition from the majors (who have massively ramped up their rye production) will force their price into line.

 

I'm glad the 3yr old is getting rave reviews. I'll buy when it's 6 or older and 50 bucks or less for a 750. Yes, I believe that will happen.

I hope you're right, but I just don't ever see this happening.  Especially given their bottle choice.  I don't believe they could actually produce and sell it for that price and stay in business.  Pikesville's MSRP is at $50 and they have cheaper bottles, cheaper corks, it's proofed down a bit, they're doing sour mash, and they run at a much bigger scale.  It's hard to imagine Peerless could ever get their production costs down to compete with Heaven Hill, so I wouldn't expect their prices to get down there either.

 

But I do love seeing some more new rye on the market.  The times I've tried Peerless I have really enjoyed it.  I also enjoyed a low proof barrel proof Wilderness Trail I got to try.