The Rise of High-End Bourbon
Traditionally considered a workaday tipple — reliably affordable and dependably strong — bourbon is breaking free of its humble reputation to become a real top shelf contender in New Zealand.
Old Overholt Straight 6½ Year Old Rye Whiskey circa 1940, 121 US Proof, 4/5 Quart.
PRICE REALISED INCL. BP $7,170
Webb’s has seen a surge in interest for premium varieties in recent years, with big names reaching record prices at auction. And this thirst for ‘the Spirit of the South’ shows no signs of abating.
Bourbon is a type of American whisky made from a mash of at least 51% corn, bestowing it a slightly sweeter profile than its Scottish or Irish counterparts.
Its history is a long and storied one, but it is believed that the first bourbon was distilled in Kentucky in the 1780s by a man named Elijah Craig. The Baptist preacher and later entrepreneur is credited with inventing the practice of charring the oak barrels in which bourbon is aged, a process which gives the whiskey its distinctly smooth flavour and signature notes of vanilla, caramel and spice.
As the American writer Walker Percy once painted it, “the joy of bourbon drinking is not the pharmacological effect of the C2H5OH on the cortex but rather the instant of the whiskey being knocked back and the little explosion of Kentucky U.S.A. sunshine in the cavity of the nasopharynx and the hot bosky bite of Tennessee summertime”. Bourbon is a drink steeped in the rich cultural history of the American South, evoking the lore of the hard working Southern Gentleman, the sound of blues and jazz, and the smell of sun-warmed grass, wood-panelled bars, and a pecan pie cooling on the counter. While other spirits may have previously outshined it in cool factor or intellectual association, it has endured proudly and unpretentiously as a symbol of American history, craftsmanship and innovation.
Although it may be deeply rooted in American culture, bourbon is enjoyed by drinkers all over the world — and particularly here in New Zealand. Mainstream producers such as Jim Beam and Heaven Hill have helped push it to become the country’s most consumed spirit, and of course most will be familiar with the hugely popular RTD brands that have notoriously provided a cheap and easy means of consumption. But while bourbon has traditionally been seen as something of an entry level, rough-and-ready option here, the enjoyment landscape is changing. In recent years discerning local drinkers have started to turn their attention to the more sophisticated and complex attributes of the drink, contributing to increasing global demand for varieties at the premium end of the market.
Distilleries have responded to growing interest by producing limited quantities of crafted bourbons that offer greater depth of flavour previously seen in the mass market.
Webb’s has seen demand take off at the premium end of the bourbon spectrum, with the iconic Pappy van Winkle leading the charge. The Old Rip van Winkle 10-year-Old recently fetched $3,107 in our March Live auction, while the Pappy van Winkle Family Reserve 15-Year-Old reached $4,780 in our January Online sale. The Family Reserve 20-Year-Old also more recently reached $7,170 — eclipsing previous records. For drinkers who are new to bourbon, or collectors who are just dipping their stirrer into high-end spirit market, Webb’s Director of Beverage Nick Hargrave recommends options like Michter’s US1 Small Batch Bourbon Whiskey, or the Woodford Reserve Distillers Select Kentucky Straight Bourbon Whiskey, both of which are available through Webb’s online Cellar Buy Now.
In the spirit of the Southern hospitality in which bourbon is so traditionally enjoyed, he’s also shared one his favourite cocktail recipes — a little something to wash off the day and welcome you into the world of this deeply flavoured and richly storied drink.
So, what’s behind the surge? Firstly, a huge growth in appreciation for craft spirits across the board has seen drinkers and collectors looking for examples that embody traditional craftsmanship and unique flavour profiles that pay homage to their heritage — and it doesn’t get much more evocative than bourbon. As with all whiskeys, another market factor at play is the time it takes to produce a great bourbon. Compare for example to gin, which can be made in a few days and has consequently seen its prestige diluted by its popularity, with a proliferation of distilleries (of varying quality) having cropped up in the last decade. Whiskey on the other hand takes years, and a great deal of expertise, to make. Not just in distillation, but in the slow, methodical ageing in oak barrels.
The craft cocktail movement has also helped drive demand for premium bourbon, with the return-to-vogue of cocktails such as the Old Fashioned, Manhattan and Boulevardier enticing consumers to invest in premium pours for their commercial or home bars.
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