Economics 101?

[White Lightning]

Observation likely has been touched on here before and I'm just the lazy simpleton who didn't find or participate when it was current... what else is new?

I’ve been paying attention to my own trends with regards to spending and my own willingness vs. reluctance. Mainly I notice I want to try as many bourbons in particular as reasonably possible but upon trying a particular item, if I find that it tastes similar to or not that much better than... [X] but costs significantly more I tend to not be very keen on replacing or maintaining a lasting relationship with the said item.

I think I notice the same strategy, philosophy or however you would characterize it, present in other persons who might be enthusiasts or simply put, seriously enjoy American whiskies. Is it just me or does it not seem that the economics and the evaluation of value itself come heavier into play with the American whiskey enthusiast more so than other spirits?

PS: (Thunderbird, MD20/20 and the whole "wino" classification excluded, as there is no more price conscious crowd I know of!!)

[OneCubeOnly]

If you're asking if American Whiskey lovers are more bargain-conscious than fans of other whiskies, that's a tough one to answer. I think straight out of the gate a purchaser of bourbon is AUTOMATICALLY getting a better bargain than, say, someone buying malt. Particularly in the U.S.

If your question relates more to whether bourbon buyers are less willing to shell out big bucks for premiums, I'd also probably say yes, but only because the cost ceiling and/or 'comfort-zone' for bourbon purchasers is programmed to be lower.

Despite all the wonderful nuances we fanatics love to find and enjoy, in the big-scheme-of-things bourbon really isn't all that varied. Is a $200 bourbon ten times better than your favorite $20 bottle? Would any bourbon be worth quaffing for $72,000?

The problem I have is that (like you it sounds) I've found two real gems which are total bargains. (BT for $12.99 in MD and AAA10yo for $9.90 in VA). Splurging for expensive/rare bourbons is fun, but in an economic sense I can't justify a better value ratio than those. And YOU BET any big-ticket bourbons I buy are compared (at least at some level) to those.

[voigtman]

I’ve been paying attention to my own trends with regards to spending and my own willingness vs. reluctance. Mainly I notice I want to try as many bourbons in particular as reasonably possible but upon trying a particular item, if I find that it tastes similar to or not that much better than... [X] but costs significantly more I tend to not be very keen on replacing or maintaining a lasting relationship with the said item.

I think I notice the same strategy, philosophy or however you would characterize it, present in other persons who might be enthusiasts or simply put, seriously enjoy American whiskies. Is it just me or does it not seem that the economics and the evaluation of value itself come heavier into play with the American whiskey enthusiast more so than other spirits?

I completely agree with the first quoted paragraph, but I'm not sure it is more of a factor with American whiskey than with other spirits. I think it depends on where one is on the exploration trail. In the beginning, it is natural to want to try everything, at least once. Then, as you learn what you really like/dislike, and as your taste matures, both in experience and expectations, you start balancing purchases between new whiskeys and ones you already know you like. New whiskeys are exciting, but risky: maybe you will hit it rich and find the whiskey that is everything you could possibly want in a glass, but, more likely, it will simply be another good/great/excellent drink, nothing wrong with it, but not really all that different from the rest you have tried. Then why bother paying high prices if a whiskey you like just as well is available for a song, e.g., BT for $12.99! Maybe there is a later stage, where someone has tried almost every available whiskey and they hunker down and just go with their top choices, but I don't think I've encountered anyone here or elsewhere who has gotten to that place, and I'm real sure I haven't: my "buy ASAP" list still has plenty of whiskeys on it. That said, I have some bourbons and ryes that I will always have on hand and open, just because they can't be beaten by much, no matter what appears on the scene down the line. These include Pappy 15 (or ORVW 15, 107 proof), Elijah Craig 18, Elijah Craig 12, Stagg (whatever is obtainable), Hirsch 16 (until it's gone), Eagle Rare 17 (whenever I can get it: it really is rare), Sazerac 18 (any year), VWFRR 13 YO (any release) and Old Overholt ($12.49/liter, and it has a distinct cherry note to me). If I could get BT for $12.99, it would be on hand all the time too. Ed V.

[White Lightning]

I didn´t mean to insinuate that we are less likely to shell out big bucks -- well in a way I guess that could be said but I really meant we seem to be more so the comparative shoppers. The kind of people who actually look at the tag on the shelf and compare the per unit cost how many grams for each penny - kind of thing.

For example I've found myself on several occassions to venture out to something new that might be typically more costly than similarly aged whiskey, let's call it whiskey [X]. Upon tasting it I find myself thinking in many ways it's a lot like whiskey [Y]. Maybe [X] tastes a little bit more refined or has a few attributes that would make me grab it over [Y] especially if they were closely priced, but what I find more often than not is [X] is a slight improvement, refinement or what ever descriptive words I might be able to muster, but in return it costs 2.5 times or more the price of [Y]. Except for the thought of having that specific item around in case I just have to get back to something I really find attractive in it - I'm pretty much done with that item and it's back to stocking up on what I gots to have!

On the other hand I don't believe I've ever heard a cognac drinker say Remy such and such is good but it tastes awfully similar to Martell this and that which is significantly cheaper so I'll just stick with the Martell... Then again cognac is so expensive by nature it probably isn't the spirit-ual direction to go in if one is counting his/her coins.