Have you ever wondered why a bottle of whiskey can cost the whole world? Like any other refreshment drink, whiskey is made with particular ingredients that contribute to its high prices. Knowing what a bottle of whiskey contains is critical as it helps in estimating its cost. However, the ingredients that make up a single bottle of whiskey are not the only factors contributing to its high costs. Other extra qualities are considered in determining the price of a bottle of whiskey.
Some of the factors that determine the cost of whiskey includes and are not limited to;
Age and angel share
The main reason a bottle of whiskey can cost you a fortune is the number of years it has from when it was manufactured. As years go by, whiskey becomes finer, making it more expensive than it initially was. It is believed that between one and two per cent of alcohol will disappear every year from the cask due to natural evaporation. The more years a bottle of whiskey has, the less the amount of liquid in the bottle. The reduction in the amount of whiskey translates to scarcity resulting in the shooting of its cost.
Market
When the demand for a particular product is high, its price will likely go higher. The level of critics on whiskey has increased, leading to a rise in reviewers sharing their opinion concerning different whiskey brands. As a result, many people have been influenced to try new whiskeys translating to a high whiskey demand. In the recent past, whiskey has increasingly become popular, making its market grow and expand daily. In addition, prominent players demand more whiskey, increasing its overall consumption worldwide. The demand is set to rise higher and higher as days go by, so the prices of renowned bottles may experience a price increase.
Brand
The brand of a particular item is among the key factors determining the price it will trade for. In the same way, there is a specific cost that is placed on every brand of whiskey. Some big names such as Glenfiddich and The Macallan have for the longest time produced quality whiskey hence establishing themselves as a reliable whiskey brand. Those being premium whiskey brands have higher chances of being the preferred brand dominating the market. When a particular whiskey brand is preferred over others, the manufacturer of the brand will enjoy a market monopoly and can attach a fortune to it.
Summing Up
A risk is associated with the safe storage of a cask for extended periods. For that reason, the price of whiskey becomes a bit higher. The longer the distilleries hold the whiskey, the more they pay for the space and that cost is shifted to the particular drink. In addition, the number of distillery bottles a sells dictates the selling price. The fewer bottles of whiskey, the more expensive it will be. If whiskey is bottled directly from the cask, not to mention the number of years it has been in a barrel, it is likely to cost much.