Retailers would not be authorized to trade with or purchase bottles from consumers or other retailers, leaving the three tier system intact. With that out of the way, I was asked recently, by someone who had already heard that selling Bourbon on the secondary market is illegal, whether trading bottles could avoid those problems, and it got me thinking about how to fix the secondary whisk(e)y market in the United States. After Breaking Bourbonâs award of â whiskey of the year ,â it went from $80 on most pages to $150. Owen Powell didnât create the first group to buy, sell, and trade bourbon There are a number of online listing sites that follow the classified ad model for buying and selling bottles. âItâs the busiest itâs ever been, the most active Iâve ever seen it in history,â says Pablo Moix. The Macallan Edition No.6 appeared on the market and all bottles of a Jura cask were sold on one single auction. You already know that it is rare and it is no longer just the “Premium” bottles are missing on those liquor store shelves (ie. Bringing you news and updates regarding this website. It is the obvious name that everyone knows, but there doesnât seem to be an overwhelming amount of transactions compared to other bottles. © 2021 BottleBlueBook. They would work with retailers as opposed to against them.Keep in mind this is a concept only. RECEIVE PAYMENT FOR WHAT YOU All Rights Reserved, Check out our latest article for another means for selling your collection. It makes the process of listing easier and cheaper, but the anonymity of these platforms can leave you with a sinking feeling in your gut during the entire transaction process. We chat with one of the founders of Unicorn Auctions, an online whiskey auction house out of Chicago aiming to create a platform for legitimate secondary market bottle sales. Waiting sucks. What is unique about the current bourbon secondary market is that these current releases are sold for 5 to 20 times the retail price. Consider that versus collectible vintage wines, which are auctioned every day. Very often we are approached by our members with one of two questions that are directed differently, but ultimately share the same goal, “I have/want a bottle of XXX, how can I go about selling/buying it?” What they’re referring to of course is the Secondary Market, and unfortunately finding “it” isn’t as easy as shopping on Amazon. Here is the Price Update for September 2020. Building off Sipp’n Corn’s idea, I propose the concept of a regulated marketplace where consumers could buy, sell, or trade bottles of alcohol with one another, retailers could fulfill orders in limited instances where the need presented itself, and all of this would be handled by a legally authorized third party. Ohio cracks down on secondary market for booze JD Malone The Columbus Dispatch @J_D_Malone Friday Jan 4, 2019 at 12:59 PM Jan 4, 2019 at ⦠Before that, there was BX, which succeeded Bourbon Exchange, the first major Facebook whiskey buy/sell/trade group, which was created in 2013 and shut down in 2016. Additionally, the secondary (resale) market for whiskey is small and shifting. Counterfeit whisky is an ongoing concern for the secondary market, and fraudsters might see opportunity to offload fakes on auction houses that have fewer employees to verify a bottleâs authenticity because of social distancing rules. Brokers remove a lot of the hassle and concern of buying or selling a bottle, but you do need to be aware that it’s possible to not receive 100% of the Secondary value because brokers must resell the bottle; however, sometimes a lesser price with an increase in peace of mind is worth the trade off. They would use trade-value and cash-value credits to acquire bottles from other consumers, and cash-value credits to acquire bottles directly from authorized retailers. Use our Interactive Flavor Wheel, Bourbon and Prohibition: A Brief History of an American Beverage. The main purpose of the retailers’ involvement would be to provide a means for consumers to sell more rare bottles, such as Pappy Van Winkle, and subsequently use their cash-value credits to purchase an assortment of common bottles from a retailer that would not be cost effective to be offered up for trade by another consumer… in other words, the concept would not transfer the role of existing retailers to consumers when it comes to supplying readily available bottles. Having a Tasting? Retailer supplied bottles would be shipped directly to consumers in order to minimize cost.This would require a credit based system where the value of bottles-in and dollars-in effectively become trade-value or cash-value credits held in trust by the third party handling these transactions. They would be explicitly prohibited from charging any value based fees or acting in the capacity of a retailer. The Consumers' RoleConsumers would be authorized to fund purchases with cash or bottle trades, but would only be allowed to take out bottles from the system, never cash (by cash, I mean monetary payment of any kind). Consumers would receive trade-value credits for bottles (to be used immediately when making trades) or cash-value credits for cash put into the system (which could be used immediately or be held in trust for future transactions), or some combination thereof. So, if you find yourself able to get into one these community marketplaces make sure to read the rules thoroughly and carefully. It's about $25 now, a 130% increase, but To people who argue solemnly that the secondary market accounts for the higher prices we pay for whiskey today, consider this. So, letâs discuss this private secondary market thing. Also, selling a bottle on Craigslist is not technically legal, but people continue to conduct business on the platform. Buy rare, old, and collectible whiskeys online! Others have established symbiotic âcost plus shipping Used together, itâs C+S which stands for Cost + Shipping. Weller, EH Taylor, Blanton’s, etc...). Just look at marijuana’s history in the U.S.Rather than trying to squash the sellers with brute force, wouldn’t it make more sense to modify laws to accommodate consumers’ demands when it comes to buying and selling alcohol?One solution I’ve thought about, in a similar sense, was laid out much more eloquently by Brian Haara on his blog, Sipp’n Corn. For starters, they are secret groups, meaning hard to find. If you didn’t watch it happen first hand, you’ve probably already read about Facebook shutting down buying, selling, and trading groups dealing in items such as guns, cigars, and more specifically bourbon. Sure enough, these secondary market groups started disappearing quickly, including the popular and long-tenured BSM (Bourbon Secondary Market). Why not work towards a system that protects consumers and retailers alike?What do you think? No, BSM, or Bourbon Secondary Market, was simply a spot for drinkers to re-sell bottles of coveted American whiskeys. Since, many of these members from different groups overlap one another, a ban from one group can get you banned from all. The short answer to the legality question is: yes, the secondary market is illegal for both parties involved. Find your favorite Small Batch and Limited Release Whiskeys here. This allows me to bypass the “Bourbon is booming” speech, and we can also move past the facts and figures detailing its scarcity. The bigger the collection the better! These are great communities to off-load or procure bottles, but there are a few caveats for anyone who isn’t familiar with them. Bottle-Spot, a popular secondary market website, disappeared late last year as Market Value Login/Register to view market data. Moreover many of them are invitation only, meaning you have to know someone on the inside to begin the vetting process. Or would this open up the door for more “flippers” than we see today, giving random, otherwise uninterested opportunists a now legal means to make quick cash making it even more difficult to find rare bottles at good prices? BourbonEX.com Your definitive source for info & graphs on historical buying and selling bourbon bottles and whiskey. Again our major market indices did not move at all. While the secondary market may include only a minimal number of active participants, it meets a very real demand in the marketplace and seems to be growing. The bottle values would be agreed upon by the consumers, such that the third party would have no control or participation in value other than to relay information between the consumers. Whatever you decide, cheers! Order now and get them delivered directly to your door or have them sent to a friend as a special gift. Handled within the confines of the third party website, the consumers would be restricted to communicating within the set parameters of the website so that they would not have access to one another’s personal contact information or be presented with an easy opportunity to make deals on the side. The secondary market is synonymous with Facebook. Fast forward a few days after the incident and at least a few of the groups were back up along with apologies from Facebook for removing them in the first place, an accident apparently.While the illicit secondary fills a natural gap in the market for bourbon and is no more than willing buyers connecting with willing sellers, it does open the door to a number of problems.But that’s not what this article is about.The simple fact is, consumers want the ability to exchange goods with one another; bourbon, or any alcohol for that matter, is no different. Rather than detracting from retailers’ businesses, this might even serve to protect them.As for fakes, the possibility will never be completely eliminated, but by removing the opportunity for consumers to realize monetary profit along with an evolving and concerted effort to identify fakes, we can only hope the idea of a fake becomes a tale of the past.Since the third party handling the transaction would be limited to compensation based on trade volume and not bottle values, their incentive would be to minimize costs while maximizing efficiency. The market for vintage spirits has boomed in the past decade, with collectors, aficionados, and bar owners clamoring for the rare and unusual. Using a broker makes the process much easier as they typically take care of all the little details. A bottle of Rittenhouse Rye BIB cost $11 a decade ago. The growth of bourbonâs popularity can be attributed to it as well by those that are in it to flip bottles. This is all something we wrote about in much more depth recently, in a piece bemoaning the decision of many package stores to begin selling coveted whiskey at full-on secondary market prices. Iâm sure it comes to no surprise that the Secondary Market is not one, but a conglomerate of multiple outlets someone can use to buy or sell Whiskey that is rare, or sometimes impossible, to find sitting on the shelf of the local Everyone thinks the Pappy Van Winkle line is the driving force behind the whiskey secondary market, but it is simply not true. Itâs our job to find the best whiskies at the right price for you and help you to get whisky online. Try looking for Bourbon meet-ups in your area to get started. User Ratings 86 Overall Rating 84 Nose 87 Taste 86 Finish 84 Uniqueness 84 Prestige 88 Value Login/Register to submit your own ratings. Now not many experiences through these channels are bad, but the drawback of a limited reach from a site like Craigslist will hamper your ability to get a good price from your bottle locally unless you live in a large city like New York or Chicago. This applies to Facebook and Reddit, where each contains a multitude of avenues to meet like-minded individuals interested in Whiskey. Retailers would offer bottles at their own set pricing. A proposal for the Whiskey Secondary Market that could satisfy consumers and retailers alike. Laws would have to change in order to create this opportunity and shipping of spirits would have to be allowed [read our related article: The Confusing State of Shipping Bourbon].And yes, maybe you could call this a fourth tier… but maybe we need something like this to work in harmony with the already established system. Cyberattacks are another issue. The most popular one is Craigslist; however, selling alcohol on this platform is prohibited according to their terms of use, but people often times skirt the legality. How it works. Sell your shares through a private secondary market. And whether or not you should do it. âThe secondary market could best be thought of as living, breathing data,â said the Louisville-based Minnick, who has authored numerous bourbon books and hosts an influential whiskey ⦠Whisky Marketplace US is an advanced whiskey search and price comparison engine. Try our advanced whisky finder to locate the best in American whiskey, scotch, single malt and more online. Many cities have Bourbon clubs that gather on semi-regular basis to discuss bourbon. By removing the ability of average consumers to make profit in a monetary sense, this concept could meet the needs of many of the real “buyers” in the secondary while eliminating those seeking to merely flip bottles for a quick monetary profit. âEveryone is selling, everyone is buying, everyone is haggling.â The co-owner of Los Angelesâbased vintage spirits mecca Old Lightning, a bar tucked into the back of an Italian restaurant in Venice, is referring to whiskeyâs secondary market. The global market for these spirits has grown significantly in recent times, with the value of rare expressions more than doubling in the past few years alone. There is a real and growing demand here, and it’s going to be satisfied one way or another. The final option for anyone with any bottle of Bourbon or Whiskey is to simply crack it open with a few friends and enjoy a glass. Also, good to note is shipping companies will generally not ship a package containing alcohol from an unlicensed source. I’m sure it comes to no surprise that the Secondary Market is not one, but a conglomerate of multiple outlets someone can use to buy or sell Whiskey that is rare, or sometimes impossible, to find sitting on the shelf of the local liquor store. Sound off in the comments below. How much of the secondary market is just Pappy Van Winkle bottles? If you're not old enough to drink, then you're not old enough to read Breaking Bourbon. They provide a level of security to a buyer or seller as they are licensed business entities, rather than a stranger you have no personal relationship with. This has ⦠So while consumers could “sell” bottles, they could only realize profit in the form of other bottles. The Whisky Exchange has an enviable reputation as a leader in this field: The third party intermediary would be limited to per bottle and/or per transaction based fees only. Also, sharing fun and informative articles regarding bottle values and data with the secondary markets. Weâve acquired some of the rarest and elusive whiskies out there and are happy to share! This third party would be responsible for handling the transactions, collecting transaction and per bottle based fees (no sharing in the value of the bottles, and this is important), ensuring the parties to the transactions are of age, and verifying authenticity of consumer supplied bottles. Get free shipping on select orders! And some of Traceâs most sought after brands, such as George T. Stagg (retail price: $80), or Pappy Van Winkle 12 year (retail price: $60), are now selling for north of $500 on the secondary market. All legal alcohol sales require a seller licensed by the state, and a buyer may only purchase from a licensed seller in the state where the transaction occurs. The potential downside: one more “tier” adding cost, complexity, and a whole new set of problems.I’d like to think that some form of his concept could work, and with the right controls in place I would be all for it. We're interested in bourbon, scotch, and wine collections. Maybe if consumers’ identities were verified and the option to sell was limited to natural persons only, coupled with a cap on the number of sales allowed per person per year. The third party would send prepaid authorized shipping labels (and possibly standard packaging) to the consumers for shipment to their processing facility for authentication, passing along their volume discount and ensuring the packages were shipped safely and legally between any and all parties to the transaction. A secondary market will always exist as long as demand outstrips supply, which for the foreseeable future will always be the case for limited edition bottlings but should it be as easy as it is now to flip new releases? There are a lot of restrictions on selling tech Before that, most whiskey buying, trading and selling was done on Craigslist, or eBay, before those markets were shut down, too. What it is. Although this would make for a terrible TV show theme song, it’s hard to argue the fact that Bourbon is becoming the equivalent of gold (yes, I am deviating away from oil as it now pales in comparison in value per volume when measured against premium Whiskey). The best online whisky auctioneer for selling your unwanted old/vintage & rare Scotch whisky, world whiskey, fine spirits, other alcoholic drinks/beverages on the secondary market STEP 3. These clubs not only provide an enjoyable time but also allow collectors to develop relationships with others in the group to create a local trading network. This brings us to the point of this article as we briefly describe some of the multiple avenues someone could use to sell, buy or trade a bottle of Whiskey. Online Whisky Store Comparisons of Single Malt Scotch, Blended Whisky, Japanese, American, Irish Whiskey ⦠American whiskey has grown exponentially the past decade. You must be 21 or over to enter this website. We can connect you to a broker to take the hassle out of selling. It started as a basic idea a few months ago by one individual (no, not me). This is a major plus because as an individual UPS and FedEx will not insure your fragile package of liquor unless you carry a license. Find the best prices to buy all types of whisky online. Expensive whiskey bottles are nothing new and neither are the high prices on the secondary market. Two letters, C and S, have changed the whiskey secondary market. It wasnât the first secondary whiskey market. Most of the popular ones are heavily guarded and any individual making transactions within them are guided by heavily enforced rules, some carrying penalties harsh enough to result in a permanent ban. Secondary Market Pricing Primary market prices are often set beforehand, while prices in the secondary market are determined by the basic forces ⦠Find the best prices to buy all types of whisky online. Whiskey Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026) Global whiskey market segmented by product type such as american whiskey, scotch whiskey, canadian whiskey, irish whiskey, others; by distribution channels such as on-trade and off-Trade; and Geography. One of the safest avenues for those looking to sell a rare bottle of Bourbon or Whiskey is using a specialty broker. âThrough the secondary market, we see direct consumer interest for varying American Whiskey types that help us understand what consumers are eager to ⦠Since there are very few ways to publicly sell collectible whiskey in the US (just some very small auctions each year), there are few records of what things are actually selling for. The essence of the solution would be an option for end consumers to sell rare bottles to a licensed third party clearinghouse who would then sell or trade them on the open market, removing a number of the problems now plaguing the secondary market. Moreover, if I want to sell a bottle of my own bourbon to another person, why shouldn’t I be able to?I’m not going to answer that question, but I think it’s fair to say that no one will ever be able to completely purge the illegal secondary market, not with brute force anyway. When a luxury good is popular, the crazy demand creates a secondary market ⦠Check out our latest article for another means for selling your collection. The Retailers’ RoleRetailers would be authorized to sell bottles to consumers (shipping directly to consumers to avoid additional costs or even holding for local pickup), and would be authorized to take cash-value credit payments in, of which an actual cash payment would be distributed from the third party to the retailer. Often they have guest speakers as well as regular tastings. Would controls such as these eliminate the potential for this to become a fourth tier? Each party would have a very limited and defined role to keep things in check. Consumer supplied bottles would pass through the third party’s facility and they would hold them in escrow until everything cleared, finally remitting the bottles to the end consumers in the transaction. Many whiskey lovers have forged lasting friendships with secondary-market strangers from other states, some of whom began traveling to meet in person for bottle shares. If set in present day, Jed Clampett would be better off if up from the ground came a bubbling Pappy Van Winkle. Much like brokers in other businesses these groups have access to a network of buyers and sellers. We provide the most complete current and historical prices on bottle found throughout auction houses and online Where laws exist that prevent willing parties from transacting, they will find a way to make it happen. In addition to Craigslist, there are some marketplaces specific to the Whiskey industry. 5 Conversation Starting Bourbons to Help You Avoid Talking Politics at the Thanksgiving Table, Blue Run 13 Year Kentucky Straight Bourbon, Ultimate Valentine’s Day Whiskey Drink Guide. But, you likely already know all of this or why else would you be here in the first place. âGood riddance,â wrote one person on Redditâs r/bourbon thread. Update: As of recent Facebook has and is actively shutting down all groups that were involved with buying and selling and other online trading spots have closed up shop as well. In the last 6 months, three notable overnight rises really caught the eye of the secondary market with Stagg Jr. Batch 12 soaring to almost double of what the secondary market was selling it for.
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