Each of these buyer groups are seeking different things and are motivated by key factors – this model seeks to illustrate some of the key elements.
Critical for drinkers is quality. They want to be able to access and consume what they, and other influencers they respect, think is good quality.
Collectors can be motivated by a range of factors – do they collect all bottles from a certain distillery? Or all bottlings from an OB (original distillery bottling) or IB (independent bottlers). Are they excited about collecting bottles from a special year – when they were born, married, when their kids were born? Do they love to collect Bottle No 1 of each and every release they can find? Or bottle No 2, 8, 17, 88, 888, etc.
Investors are motivated by returns. They need to ensure that the bottles they acquire need to appeal to the widest audience when they come to liquidate their holdings. Rarity can be a critical driver in value appreciation, as such, limited editions, single cask bottlings can be attractive. Buying from “Blue Chip Stocks” or as we would say “iconic” distilleries is a much smarter and safer purchase.
As brokers we take a brief from our clients (be they drinkers/connoisseurs, collectors or investors – or a mix of all 3) as to what it is they are looking for and why and then we seek to identify a solution.
We also believe Single Malt Brand owners should consider this model and its approach to ensure they create what the market desires.
When a bottle sells out quickly and increases rapidly in value on the secondary market it inevitably hits the “DCI Sweet Spot” appealing to all three buyer types.