For some companies, the scarcity of some of their products pushes sales of their other products. Chuck Cowdery, bourbon writer, has lots of tales of Sazerac sales reps promising store owners a bottle of Pappy in exchange for them buying large quantities of some crappy vodka or whatever. Also, most everything Buffalo Trace makes sells like crazy based on the reputation of a couple of sought after products. There have even been runs on Benchmark, just because it's made by them. I do think they want to sell more of their product, they are making and barreling more than ever, but the number of people in the bourbon game is increasing at the same or higher rate. The pandemic has brought a lot of people into that weren't before, and it was already increasing before then.
As to the crazy prices, I can say with absolute certainty that no bourbon is worth $1200 if used for its intended purpose. The fact that there are people willing to pay that much for things blows my mind. I'm at a point in my bourbon career where I'm tired enough of the chase, and buy so little bourbon, that I'm willing to pay more than retail to get something I really want, but I'm not spending the same as some people's mortgage payment on a bottle of booze. I suppose for people that aren't going to drink it and see buying it as an investment the thought process may be different, but the reality is that bourbon, even rare bourbon, isn't a great investment, because every year they make more. There are some exceptions of standout expressions that have become coveted over the years, but for the most part, there's not a giant increase in value for a bottle of Pappy or BTAC or Birthday Bourbon year to year.
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