Nov. 28—While much investor hype in 2021 surrounded cryptocurrency, real estate and stock squeezes, rare whiskeys are gaining recognition as an investment with a reliable return.
Liquor store owners around Norman noticed an increased interest in rare whiskeys prior to the COVID-19. However, the highly-sought-out bourbon brands like Michter's, Blanton's and E.H. Taylor as well as certain Macallan single malt scotches have only become more difficult to get from wholesalers since the onset of the pandemic.
Wholesalers denote high demand items as allocated from the distilleries — store owners must ask their local distributors about their availability, as they are rarely seen in online inventories.
The Spirits Business magazine reports the limited supply and high demand has created a booming secondary market, with certain whiskeys being sold for two, three or even four times their original value in private groups online.
Sullivan Newman, manager of Corkscrew Wine & Spirits at 2319 W Lindsey St., said Facebook has become a popular space for secondary market groups to trade and sell collectible bottles.
"There's definitely been an increase in demand for [allocated bourbon and scotch], and I don't see that stopping anytime soon," Newman said. "I just see it ramping up and other bourbons becoming allocated that aren't hard to get right now."
According to the Robb Report, secondary prices for whiskeys like George Dickel and WhistlePig have grown considerably since the beginning of the year, with distributor prices following suit.
Buffalo Trace, whose portfolio includes the elusive Blanton's and Eagle Rare, is currently expanding their Kentucky distillery with their $1.2 billion plan, which includes more barrel warehouses to keep up with frantic demand.
An uptick in alcohol beverage sales during the pandemic, combined with a shortage of glass and select limited availability from wholesalers, has created a hot secondary market for whiskeys like Buffalo Trace, said Nick Mettry, owner of Norman Discount Liquor.
"Higher end bourbons, scotches and wines, especially those allocated items, have taken off," Mettry said.
Mettry said he commonly talks with patrons who come into his store in search of hard-to-find bourbons or scotches. He said some are looking to stock their bar with conversation pieces, while others are looking to make some cash on the secondary market.
"That has been going on since before the pandemic, but it's really ramped up with slowed glass manufacturing and the supply chain issue," Mettry said.