Be part of the BOOM
It’s very clear that we're living in the biggest whisky boom in history. The amount of whisky consumed is at historic highs, simple population growth accounts for the increased volume, but more than that people are more interested in whisky as an idea, a hobby, a passion, and a profession. History has treated whisky well. Few other commodities have been so bolstered by society’s imagination, so venerated by its intellectuals, or sought-after by the sporting class. We've created legends about its origin, developed organizations to honor its craft and history; some have even claimed it to be an elixir of powerful effect (Disclaimer: WHISKY is NOT approved by the FDA to treat your back pain). Previous whisky booms of various tenure and magnitude, most notably one that ended at the turn of the 19th century, still rest in the psyche of many in the Scotch industry. It is easy to understand why many producers are cautious to be optimistic regarding today’s increased demand. The Whisky Boom of the late 1800’s began as a function of a growing world economy, a golden age of drinking, and the death of nearly all of France’s brandy producing vines. Demand seemed insatiable and production soared. The boom was short lived and the crash was abrupt. What would become known as the Pattison Crisis, was in fact an industry brought down by the dishonest dealings of a select few and the inability of lenders to properly assess customers ability to repay their debts (doesn’t sound so different from the mortgage crisis, but it at least it tasted better). The Pattison Brothers, who have been attributed by many to both the cause and effect of the whisky bust, were respected whisky merchants that turned out to be little more than convincing conmen. Not only were these two inflating the amount and worth of the whisky they were selling, they had also been caught selling cheap blended whisky as much more valuable single malt.
This is what sets whisk(e)y apart from so many other commodities. While other products have varying degrees of quality (light vs. heavy crude oil), few are so reliant on the manufacturer to determine value. No products have as inelastic a supply as whisk(e)y. Wine production is similar, with its limited production levels and environmental sensitivity, but no other product needs so much time to produce or has such wildly variable quality from one barrel to the next. All of these factors contribute to what is arguable one of the best performing investment markets over the last twenty years, as well as general increases in price for almost all whisk(e)y including non-collectable everyday stuff. A nice article in a local paper details this trend (Market forces, demographics drive price of Scotch whisky skyward), the sources cited are highly reliable.
Well, anyway the point of this is that we’re offering you a chance to be part of this wild and exciting world! Are you feeling like you have contributed directly to inflated whisky prices? Now is your chance!!! Today, one of the years absolutely most hyped up bourbons is going on sale at K&L. We’ve had hundreds of inquiries a week regarding this higly effectively marketed product. Thousands of people have been chomping at the bit to snag their very own bottle of the elusive Jefferson Ocean Aged Bourbon. We received ONE bottle from the supplier. Our only solution was to let the market dictate the owner. We have not tasted this product. We have no idea if it’s any good. We will never know, but you might. You’ll have to step up to the plate and give it a swing to find out.
The one and only...
Check out the auction HERE.
-David Othenin-Girard