![]() ![]() That lower priced expressions offer a similar or greater experience and more value than their costlier counterparts. There are plenty of examples here on Malt where this is the case. You ask yourself, ‘Is the extra outlay warranted? What if the more expensive bottle doesn’t live up to expectations? Will it offer a superior experience to the less expensive expression?’ And this is where the dilemma comes in, especially with whiskey. By choosing to buy the Redbreast 21 my opportunity cost is not being able to buy the other two bottles. For the same money, I could buy the 12 year old Cask Strength (which I like an awful lot) and the 15 year old. Opportunity cost being the value of what you have to give up to choose something else.įor example, Redbreast 21 costs between £150 to £165 depending on where you shop. This is because as the purchase price increases so does the opportunity cost. The law of demand states that, with all other things being equal, demand for a product falls as the price gets higher. To get really boring it comes down to basic economics. ![]() ![]() North of £100 can represent a sizeable chunk of someone’s disposable income. We have bills to pay, mouths to feed, feet to shod, mortgages or rent to cover.the mundane realities of life that consume most of our income. There is, of course, sound reason why heading north of £100 on a bottle of whiskey can lead to a sense of nervous trepidation. But of course dear Malt reader, we know that a high price tag, like a high age statement, means precious little when it comes to quality. At this price level, we would all like to think we are getting something pretty special. When you get into the £75 and £100 plus price brackets you are, for the majority of the whiskey buying public entering into 'special occasion' territory. Read it and you will see that cost and value play a large part in our thinking. Whiskey can be an expensive product and that’s why here at Malt we have a scoring band to try and help guide you through the whiskey maze. This means for many they refuse exploration for the comfort of returning to what they know time and time again. Investing £50 in a bottle can also be intimidating when it’s a leap in the dark, taking a punt on a previously unknown brand that may reward with utter delight or may chasten with the cold hand of disappointment. To be fair for a large number of whiskey drinkers £50 is a sizeable investment for just one bottle when you could nip down to the supermarket and easily buy two bottles for the same money. Surprisingly often when I chat with people about whiskey, they think I'm off my rocker spending £50 on a single bottle. Supermarkets and online shops are strewn with ‘big brand’ dangers like Jack Daniels, Jura and the Viking invaders of Orkney, ready to pounce and pillage you of your soul and hard-earned cash. It’s not like you can try before you buy in most instances. Picking a whiskey to enjoy can be a fraught process at any price point. I mean how much are you willing to spend on a bottle of our beloved aqua vitae that you will actually uncork, appreciate and share? How much are you willing to spend on a bottle of whiskey? And I don't mean a bottle to sit collecting dust on a shelf like a museum piece or speculating on the next flipping opportunity.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |