All Things Whisky

I want to posit something for debate.  More than that though, I am looking for some insight to help me properly formulate my own views on a subject that gains more traction around here day by day: the issue of valuing bottles that are being bandied about in trade (or…<shudder>…resale).  A lot of subjectivity follows that may be stated rather factually.  I am relying on years of empirical ‘research’ when I speak out here.  Bear with me.  Feel free to contest.

I used to live by a hard and fast ‘the value of the bottle stops with what I paid’.  I swapped bottles at face value.  I gave bottles to friends (sealed and open).  I rarely resold, but if I did it was at cost (or less) and most often with the original receipt tucked inside the tube or box.  Part of this was simply tied to the ethos that it’s simply a drink and not the commodity that others would have us believe.  But a large part of it was a rejection of the system that leads to bottle flippers.  Those folks that buy up limited releases by the case lot and immediately fling bottles at the secondary market with an eye to making fast cash.  This infuriated me (and still does).  You know as well as I do that it serves to take good whisky away from the punters and put it firmly in the hands of collectors.  These malts rarely get opened, and if they do, they have to be bought at a premium.  The folks that would arguably derive the most enjoyment often end up being cut out of the loop.  Frustrating, to say the least.

But times change.  Even if my views are less inclined to do so.

The reality is that there are less and less great whiskies being released.  No, this is not a cynical statement meant to evoke the ‘decline’ arguments we engage in here so frequently.  It’s simply a statement that whiskies from a decade ago were arguably of a consistently higher quality.  No finger pointing.  Just an acknowledgment that before demand took off through the stratosphere there was a lot more mature whisky on the market.  Notice we leave price out of this part of the discussion.  At this point it is irrelevant.  Case in point…old Springbank 21 versus newer versions.  Night and day.  Same with the 18s.  Same with Highland Park.  Etc etc.

Ok…here’s where things get tough.  I have a decent little stash of malts.  So do many others I know.  We’re not opposed to trading and rehoming bottles from time to time.  I am a firm believer that a whisky belongs with the person who will most enjoy it.  So…we make trades.  But how do we do that with others who maybe don’t have access to malts excepting those that have been a part of the new school production?  We all come into the game at different times.  I know loads of folks who have insane collections, purchased at a  time when our malt bucks went sooooo much further.  I think we all envy the previous generations to a degree.  I know it’s not just me who feels this way, but it has become increasingly difficult to turn over whiskies in trade when I don’t feel I can get something comparable in return.  I am speaking mostly to inherent quality of the product itself here, not value.  As in…I want something in return that tastes as good or better.  A trade has to be equitable, right?  Otherwise the concept of trade breaks down.

But let’s even take the value side of things for a moment.  A lot of limited releases from brands like Ardbeg, Bowmore, Bruichladdich and Springbank have hit exorbitant sums on sites such as The Whisky Exchange or various online auctions.  How then do we justify swapping these away, knowing that contemporary expressions are usually larger batches and much less singular than those of the past?  And far less likely to achieve the same value, having been bought at the height of the bubble.

A lot of rhetoric, I know.  But a daily struggle ’round here as we try to help our mates build their collections in a fair manner.  I love helping out my buddies, but I don’t like doing it at a deficit in nearly all transactions.

The simplest answer is, of course, to open them and share them.  I do a lot of that.  Arguably more than three quarters of any bottle I open gets poured for others.  But…that doesn’t help them to put the bottles they covet on their own shelves.

So, friends…how do you value your own bottles?

– C

Good evening, friends.  Or morning, for those of you in disparate time zones.

I was going to reply to a couple comments on the blog, but as longtime readers are most likely aware by now, I tend to let my posts do most of the talking and leave the comment section for all the good folks who generously give of their time to enrich the whisky world.  Having said that, a couple things needed addressing.  I figured we’d do it here and not hijack other threads.

First off…whisky is in a shit place.  I know it.  You know it.  But it has been for a while, so let’s not belabor the point here.  We’ll get our barbs as and when needed.  Suffice it to say, things aren’t getting a lot better.  High prices, a scary lack of age statements and still more swords drawn by a few ambassadors whose Trump-like insistence on petty insults and condescension have become so laughable as to be easily dismissed out of hand (looking at you, NM).  But, lest we digress…there are some signs that maybe we can hope for sunshine sooner than later.  A few malts are cropping up with numbers on the bottle again, as was recently mentioned by Serge over at Whiskyfun in a post commemorating his 15th year (Congrats, Serge!  We owe you more than can be tallied.  Sincerely.), albeit, also as noted, at rather irrational prices.  The market should self-govern there over time though.  In the meantime, let’s hope that the last few years of pedal-to-the-metal production is helping to offset the declining stocks that led to the unprecedented rise of NAS whisky in the first place (note: I said ‘rise’, not ‘advent’.  I know NAS is not a new concept).  Fingers crossed.

A comment was made here recently that the site has been limping along and in decline (my words, not the author’s).  And though it sounds like rather harsh criticism, it’s not.  Nothing more than observation and absolutely warranted.  I’ve been both busy and lacking in motivation.  On the one hand, how many times can we say the same thing with varying degrees of inflection before it becomes a drone?  On the other, I do recognize that I write up malts a little different than some others out there.  There’s usually more of a brief anecdotal tale with each jotting than simply a reliance on tasting notes which, let’s face it, probably only help if you’ve found your palate to be somewhat in sync with mine.  BUT…that’s my own personal shortcoming to address.  If I’m half the writer I like to think I am (and I do have an ego, it’s true) I need to get over my own limitations for creative expression and find new ways of making it exciting.

In short (too late, I know)…y’ain’t getting rid of me that easily.  There’s more of this guy, and ATW, coming down the pipes.  Too many of us (bloggers and jotters and dissenters, oh my!) have already thrown in the towel.  But y’know what?  Fuck that.  I’ve decided I’m not going down.  There’s a purpose to be served.  I’ve paid our dues and don’t feel like being backed out of my own game (I’ve been doing this for nearly 10 years now…holy hell!).  I’m as entrenched in this passion of ours as inbreeding is in the current White House administration.  So…on we march.  Hopefully together.  If you’re willing to stick around for a while longer, that is.

I’ll be heading back to the motherland in a few weeks.  Twelve days to recharge in Scotland.  The quest for grail malts continues.  I and a few mates will be in Speyside for a few days (and seven distilleries) and Islay for nearly a week.  Expect some writings and reviews as a lead-up to trip time and a follow-up afterwards.

And in keeping with full transparency…I can’t lie: I’ve been investing a lot of effort elsewhere.  Finished my first novel a couple months back and am working on getting it into publication.  The whole nasty blood-soaked manuscript is in the hands of a couple of interested agents as we speak.  Who knows if they’ll ultimately bite, but let’s be optimistic.  And as the clock ticks on those, I am nearing 16,000 words on a second manuscript.  This one teeth have teeth like the last did (wink wink), but it does have its figurative fangs in me pretty deep at the moment and I’m cranking out pages in all my free time.  Fiction is a great escape in these troubled days.  For this guy anyway.  So…to those who have asked…yes, still writing.  Hopefully I can get it to a platform that reaches the masses at some point.

For now though, I sincerely hope you’re all well.  You’ll be hearing more from me soon.  Feel free to send in ideas for opinion pieces, reviews, whatever.

Oh…and a bit of a surprise coming your way soon.  😉

– C