Why Is Pappy Van Winkle So Expensive And Is It Worth It?

Bourbon connoisseurs have their staple brands that will do in a pinch, but what they often have their hearts set on is something few others have tried. In a field of possibilities, they want to find the beaming unicorn: a spirit so rare just acquiring makes for a great story. For many, Pappy Van Winkle is just that sort of mythical bottle, but it costs a pretty penny to take it home if you can find it.

Chris Blatner is an executive bourbon steward, founder of Urban Bourbonist, LLC, and executive director of Bourbon Charity. He clued us into why this famed liquor is so expensive. A few key factors that contribute to the elevated price tag, but one is obvious. "One of the main reasons is an overall lack of availability," says Blatner. "The Pappy Van Winkle lineup is released once a year in extremely limited quantities that cannot meet the demand for the product."

While the elusive bourbon occasionally sells for a fairly reasonable fee in some areas, Blatner says you shouldn't get too excited about acquiring it at the manufacturer's suggested retail price (MSRP). "It is very unlikely that many people outside of an alcohol control state (where prices are fixed at msrp) will ever be able to purchase at these prices," he says. Folks who want to experience the aged spirit for themselves sometimes have to shell out 15 times more than that MSRP for the opportunity.

Many aficionados drop a splash of water into this bourbon to relish its unique creamy caramel flavors finished with notes of oak and leather. Yet others consider Pappy Van Winkle overpriced despite its scarcity. Blatner mentioned the cost can range between $170 to $400 depending on the age ... if you can find it. "I'm not saying those prices are inexpensive but they are not outrageous in comparison to the overall landscape for Bourbon and American Whiskey," he says.

However, a bottle of PVW can sometimes sell for upwards of $5,000 online. According to Blatner, "The reasons are varied for the inflated prices that reach into the thousands of dollars in many retail stores and on illegal secondary resale sites." As with any other commodity, limited supply creates a higher demand. The Buffalo Trace distillery that produces Pappy Van Winkle only releases about 84,000 bottles a year. In comparison, Maker's Mark sells about 34 million bottles yearly. Some who get their hands on Pappy Van Winkle therefore treat it like an investment, knowing they can get an inflated return on resale.

Folks who know how to taste whiskey like a pro tend to enjoy Pappy Van Winkle, yet it isn't a united consensus. Even those with a nose for fine bourbon aren't convinced the towering cost is worth the experience. Ultimately, it's up to personal preference, like whether to sip whiskey neat or with ice. Beauty is in the eye of the beholder, and for bourbon lovers, it's in the tongue of the taster.