State of the Secondary Bourbon Market 2024: Trends, Top Bottles, and Price Insights

November 12, 2024
State of the Secondary Bourbon Market 2024: Trends, Top Bottles, and Price Insights

The secondary bourbon market in 2024 is a dynamic landscape filled with both opportunities and challenges for collectors and enthusiasts. With fluctuating prices, rare bottle releases, and shifting consumer preferences, navigating this market requires keen insight and up-to-date information. From the highly sought-after Pappy Van Winkle to the latest limited editions, bourbon lovers are continually on the hunt for the next prized addition to their collection. Join us as we explore the current trends, top contenders, and the factors driving the secondary bourbon market this year.

The Great Bourbon Price Rout of 2024

One of the most notable trends in 2024 is the fluctuation in bourbon prices. The secondary market has seen a significant decrease in prices, with the overall market down some 9% in value since the start of the year. This trend is largely due to economic factors, such as inflation and increased discretionary spending.  Consumers are becoming more cautious with their spending, leading to a decrease in demand for high-priced bottles.  

 

Popular Bottles on the Secondary Market

Despite consumers having less money to spend on bourbon, they’re still buying it.  Thousands of bottles every single day trade hands on hidden Facebook pages and random secondary groups.  It’s of course the most special time of the year, being fall, and not because your wife loves her pumpkin spice latte’s from Sbux – but rather because bourbon drops abound.  As BTAC and Pappy hit the market, there’s the yearly buzz that goes along with those bottles, and surprisingly, the pricing so far isn’t terribly off from the valuations we see on the 2023 lot.  But beyond those “given’s” what’s droppin’ and poppin’?

Current Buzzworthy Bourbon Bottles

2024 King of Kentucky

2024 King of Kentucky 16 Year Bourbon

The 2024 King of Kentucky bourbon is a single barrel, barrel proof bourbon aged for 16 years and a proof of 130.4.  Just showing up on the market in the past week and a half, these originally had started off with an asking price of around $2,200 but have been finding resistance closer to the $1,700 price point.  The current average is $1,759 according to the Bourbon Blue Book®.  

2024 Garrison Brothers 10th Anniversary Cowboy Bourbon

2024 Garrison Brothers Cowboy Bourbon

What a bold pour, sitting just over the hazmat line at 140.2 proof, this is one that you won’t want to miss out on.  While it is super available in the Texas market, on the shelf at $265, I was able to pick one up on the secondary for $250…you heard that right, it was cheaper on the secondary shipped to my door than I could pick it up on the shelf at the local box store.  For all the crap the secondary gets, it has its golden moments. The average secondary price is $265 on the Bourbon Blue Book®.

2024 Jack Daniels Coy Hill

2024 Jack Daniels Coy Hill Bourbon

It’s been a few years now, but Jack Daniels brought back its very sought-after Coy Hill bottling. This year’s drop pulls back on the proof, with the high end of the proof point being essentially the low end of the 2021 bottling proofs ranging from 122 to 137.5 at the top.  Despite that, they’re still actively being snatched up at every opportunity when they pop up online.  As I sat sipping my barrel proof, barrel select Jack Daniels that has a higher proof than half the Coy Hill offerings from this year's drop (and only cost me about $65), I think I’m fine not having one and sticking with my bottle with less fancy packaging.  Average secondary price ranges between 400 on the low end to 700 on the high end depending on proof according to the Bourbon Blue Book®.

 

Caution, A Bit Overhyped – Bourbon’s That Don’t Impress

Jack Daniels 12

Jack Daniels 12 Year

I was such a fan of the 10 Year offering that Jack Daniels put out I thought that for sure the 12 was going to be a stunner…but not so much.  I think many folks were in the same boat as me, and it certainly got a lot of hype as it came out…but, now that I’ve got one…”eh” …I don’t think it’s worth the premium price.  Expect to pay around $180 on the secondary according to the Bourbon Blue Book® to get the latest Jack 12 release.

Old Fitzgerald Bottled-in-Bond Fall 2023 8-Year

Old Fitzgerald Bottled-in-Bond Fall 2023 8 Year Bourbon

While this has certainly received a lot of attention as last year ended and this year began, I must admit that it really hasn’t lived up to the Old Fitz brand.  It’s also the cheapest bottle to pick up on the secondary out of the entirety of the sixteen releases in the Old Fitzgerald decanter series to-date, with the Bourbon Blue Book® average for this bottle hovering just over $300.  If you’re looking to simply have the gravitas of having an Old Fitz to sit on your shelf at home, this is your jam…if you’re looking to spend your hard-earned money on bourbon that’s worth drinking, let's get you set on a different path.

Booker’s 2024-01 “Springfield Batch”

Booker's 2024-01 Springfield Batch Bourbon

This is the only Booker’s that I’ve seen sit on the shelf untouched for months and months and months at my local big box chain store.   It seemed to almost defy what I understood of the bourbon market and taters in general.  I’ve got a queue of other Booker’s waiting to be opened, so I never bothered to pick this up, but more and more I feel like this series has been running out of steam, which is likely why they released “The Reserves” this year, which is essentially the same thing – another Booker’s small batch in a fancy wrapper.  Current average on the secondary market is $105 according to the Bourbon Blue Book®.  

 

Factors Influencing Secondary Market Trends

Several factors contribute to the trends observed in the secondary bourbon market:

  1. Scarcity and Allocation: Limited releases and allocated bottles create a sense of urgency among collectors, driving up prices on the secondary market.  Bottles like Pappy Van Winkle and Buffalo Trace Antique Collection are prime examples of this phenomenon.
  2. Consumer Preferences: As consumer tastes evolve, certain flavor profiles become more popular. For example, bourbons with unique finishes, such as double-oaked or maple stave aging, are in high demand.
  3. Economic Conditions: The overall economic climate plays a significant role in bourbon pricing. Inflation and changes in discretionary spending can impact demand and prices on the secondary market.
  4. Early Adopter Prices: Bottles that are released in limited quantities often see inflated prices initially due to early adopters willing to pay a premium. Over time, prices tend to stabilize as more bottles become available.

Navigating the Secondary Market

For those looking to buy or sell bourbon on the secondary market, it's essential to stay informed and make informed decisions. Here are some tips for navigating the secondary market:

  1. Research and Verify: Always research the bottle you're interested in and verify its authenticity. Look for reputable sellers and check reviews or feedback from other buyers.
  2. Set a Budget: Determine your budget and stick to it. The secondary market can be tempting with its rare finds, but it's important to avoid overspending.
  3. Monitor Prices: Keep an eye on pricing trends and fluctuations. Tools like the Bourbon Blue Book® can help you track prices and make informed purchasing decisions.
  4. Join Communities: Engage with bourbon communities and forums to stay updated on the latest trends and releases. Networking with other enthusiasts can provide valuable insights and opportunities.

 

Conclusion

The secondary bourbon market in 2024 continues to be adynamic and exciting space, influenced by various factors such as scarcity, consumer preferences, and economic conditions. Fall is here and there will be plenty of coveted bottles of brownwater hitting shelves in stores around the nation and making waves among collectors and enthusiasts. By staying informed and making strategic decisions, bourbon lovers can navigate the secondary market and enjoy the thrill of adding rare bottles to their collections.

 

Tracking Bourbon Pricing – Bourbon Blue Book

Data matters and having up-to-date and reliable information to make informed decisions about buying, selling or trading coveted bottles of brownwater is critical.  The secondary market doesn’t stand still and neither do we in cataloguing and providing the web’s most accurate, reliable and up-to-date pricing around.  As new bottles hit the market, their pricing changes daily…finding a ceiling, and eventually a floor.  The market shifts up and down, commensurate with the economy – with the bourbon secondary market down nearly nine percent year-to-date. If you’re looking for a resource that’s based on real data grounded in actual sales on the secondary market, is updated regularly, and has values for over 5,000 bottles and growing at your fingertips, you need to look no further than the Bourboneur App for iOS and Android. The app does require a paid subscription, only $3 per month or $25 a year, which easily pays for itself!

 

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