DRINK UP!: Legendary bourbon sells for SHOCKING price

Key Concepts

• Very Old Fitzwilliam Blackhawk 15 Year: A rare and highly sought-after bourbon, bottled in 1966 and initially only distributed to friends and family.
• Unicorn Spirits Auction House: An auction platform specializing in wine and spirits, aiming to democratize the market for modern consumers.
• The Vault: A digital collection management system offered by Unicorn Spirits, allowing buyers to store and request delivery of their purchased spirits.
• Pappy Van Winkle Family Reserve: Another highly collectible and annually released bourbon, known for its scarcity and high demand.
• Democratization of the Market: Unicorn Spirits' goal to make high-end collectibles accessible to a wider range of consumers, not just the ultra-wealthy.

Legendary Liquor Bottle Auction

Unicorn Spirits Auction House recently sold a single bottle of Very Old Fitzwilliam Blackhawk 15 Year bourbon for over $96,000. This particular bottle is described as exceptionally rare, akin to the "Mickey Mantle of bourbon bottles." Joy Dimino, founder of Unicorn Spirits, highlighted the unique origin of this bottle, noting it was a friends and family bottling from 1966 and its existence was largely unknown until recently.

The Rarity and Value of Very Old Fitzwilliam Blackhawk

The Very Old Fitzwilliam Blackhawk 15 Year is distinguished by its limited production and exclusive distribution. Unlike other mass-produced bourbons from the same distillery, this specific bottling was not available in stores. This scarcity significantly contributes to its high market value.

Comparison with other bourbons:

• Very Old Fitzwilliam (mass-produced): Valued at approximately $5,000.
• Pappy Van Winkle Family Reserve 15 Year: An annual release that commands around $2,000, demonstrating the high demand for sought-after bourbons.

The Story Behind the $96,000 Bottle

The discovery of the $96,000 bottle is an "incredible story." After Unicorn Spirits sold an 18-year-old bottling of Very Old Fitzwilliam Blackhawk, a 70-year-old woman contacted them. She believed she possessed a bottle of the 15-year-old variant, which had previously been unknown to the auction house. This bottle was authenticated and subsequently sold for between $45,000 and $50,000, with the seller expressing excitement about receiving a check for $90,000. This instance underscores the "unicorn" nature of such finds.

Unicorn Spirits Auction House: Mission and Operations

Joy Dimino, a former wine and spirits collector, co-founded Unicorn Spirits with a vision to create a platform for modern consumers. She and her co-founder, who has a background in tech and hospitality, identified pain points in the existing market for acquiring rare spirits.

Key aspects of Unicorn Spirits:

• Democratizing the Market: The platform aims to make high-end collectibles accessible, offering items ranging from under $100 to the ultra-rare "unicorns."
• Auction Volume: In a recent auction, Unicorn Spirits sold over $1.5 million worth of product.
• The Vault: A core feature of the business is "The Vault," a digital collection management system. This allows buyers to store their purchased spirits digitally and seamlessly request delivery.
• Custody of Product: Unicorn Spirits holds custody of over $100 million in product, which clients can view digitally.
• Delivery Logistics: The company facilitates seamless delivery of spirits, often within two days, to locations like restaurants or for special occasions.

Consumer Behavior and Investment vs. Consumption

A significant question arises regarding the fate of these high-value bottles: will they be consumed or held as investments? Dimino suggests that while some bottles are indeed investments, there are collectors who intend to drink them. The logistics of delivery, including to restaurants, indicate that consumption is a notable part of the business.

Proportion of bottles consumed: Dimino estimates that over 50% of the product held in custody will eventually be consumed.

Target Clientele and Global Reach

The clientele for such expensive spirits is typically "very rich" and global. This can include upscale restaurants and hotels. The collector who purchased the $96,000 Very Old Fitzwilliam Blackhawk had previously acquired other bottlings of the brand, including the 18-year-old and 12-year-old versions.

Technical Terms and Concepts

• Proof: A measure of the alcohol content of spirits. 121 proof indicates a high alcohol concentration.
• Bottling: The process of putting spirits into bottles for sale or distribution.
• Mass-produced: Items manufactured in large quantities, typically for wider distribution and sale.
• Lineage: The origin or history of a particular product or brand.
• Decade/Era: Refers to the time period in which the spirits were produced and bottled.
• Digital Collection: A virtual representation of owned assets, in this case, spirits, managed through an online platform.
• Custody: The act of holding and safeguarding assets on behalf of others.

Conclusion

The sale of the Very Old Fitzwilliam Blackhawk 15 Year for $96,000 exemplifies the extreme rarity and value that can be found in the world of collectible spirits. Unicorn Spirits Auction House is positioning itself as a key player in this market, aiming to provide a modern, accessible platform for both buyers and sellers. Their innovative "Vault" system addresses logistical challenges and offers a unique way for collectors to manage their portfolios. While investment is a significant driver, the company also facilitates the consumption of these rare beverages, indicating a dual purpose for these high-value acquisitions. The discovery of previously unknown rare bottles, like the Blackhawk 15 Year, highlights the ongoing potential for significant finds within the spirits collecting community.