| Category | Count | Percentage | Current Avg Value |
|---|---|---|---|
| Ultra-Premium ($2,000+) | 13 | 28.3% | $3,127 |
| Premium ($500-$2,000) | 16 | 34.8% | $734 |
| Mid-Range ($200-$500) | 13 | 28.3% | $298 |
| Entry-Level (Under $200) | 4 | 8.7% | $145 |
| Bourbon | 2020 | 2021 | 2022 | 2023 | 2024 | Q1 2025 | Mid-Q2 2025 | End-Q2 2025 |
|---|---|---|---|---|---|---|---|---|
| 1792 12 Year Old Kentucky Straight Bourbon | $210 | $123 | $90 | $157 | $180 | $110 | $243 | $243 |
| A.H. Hirsch Reserve 16 Year Old Straight Bourbon | $2,151 | $3,680 | $3,162 | $3,650 | $2,990 | $3,000 | $3,162 | $3,250 |
| Basil Hayden's 10 Year Old Kentucky Straight Bourbon | $67 | $140 | $92 | $50 | $57 | $86 | $92 | $75 |
| Black Maple Hill 16 Yr Old Single Barrel | $3,437 | $3,486 | $3,500 | $4,251 | $3,938 | $4,750 | $4,750 | $4,750 |
| Black Maple Hill 23 Yr Old Rye | $4,062 | $6,900 | $5,109 | $3,965 | $4,485 | $4,375 | $4,375 | $4,375 |
| Blanton's Single Barrel Gold Edition | $454 | $299 | $299 | $131 | $125 | $123 | $225 | $247 |
| Brown Forman's 'King of Kentucky' Single Barrel 14 Year | $883 | $1,897 | $1,875 | $1,851 | $2,357 | $2,219 | $1,875 | $2,081 |
| Colonel E.H. Taylor Single Barrel (2018) | $80 | $276 | $188 | $235 | $178 | $150 | $195 | $161 |
| Eagle Rare 17 (2018) | $1,180 | $1,459 | $1,466 | $1,380 | $1,449 | $1,166 | $1,276 | $1,276 |
| Elijah Craig 23 Year Old Single Barrel (1990) | $790 | $776 | $1,035 | $1,129 | $816 | $851 | $851 | $859 |
| Elijah Craig 18 Year Single Barrel (2017) | $270 | $320 | $385 | $250 | $212 | $218 | $207 | $218 |
| Elmer T. Lee '100 Year Tribute' Bourbon (2019) | $747 | $934 | $977 | $862 | $667 | $667 | $650 | $828 |
| Four Roses Limited Edition Small Batch (2017) | $322 | $471 | $425 | $391 | $368 | $368 | $350 | $356 |
| Four Roses Small Batch Barrel Strength (2019) | $282 | $431 | $363 | $363 | $297 | $383 | $334 | $351 |
| George T. Stagg Barrel Proof (BTAC 2018) | $718 | $1,182 | $1,245 | $1,023 | $759 | $713 | $724 | $1,007 |
| Heaven Hill 7 Year Bottled in Bond Bourbon | $86 | $95 | $92 | $92 | $57 | $30 | $34 | $35 |
| Heaven Hill 13 Year Old William Heaven Hill Bottled in Bond | $1,014 | $1,080 | $819 | $606 | $645 | $747 | $575 | $529 |
| Jack Daniel's Rested Rye | $154 | $264 | $178 | $190 | $175 | $225 | $225 | $298 |
| Jefferson's Presidential Select 21 | $336 | $575 | $736 | $356 | $471 | $625 | $552 | $500 |
| Kentucky Owl 11 Year Small Batch Rye (Batch 1, 2017) | $185 | $320 | $293 | $356 | $316 | $293 | $276 | $293 |
| Knob Creek 15 Year Limited Edition | $143 | $211 | $195 | $172 | $178 | $195 | $207 | $212 |
| Michter's 10 Years Old Single Barrel Rye (2018) | $265 | $345 | $310 | $300 | $322 | $253 | $276 | $345 |
| Michter's 20 Years Old Single Barrel Bourbon (2018) | $3,802 | $4,552 | $4,628 | $4,500 | $3,766 | $3,708 | $4,053 | $3,938 |
| Old Forester 12 Year 'Birthday' Bourbon (2018) | $454 | $933 | $989 | $862 | $667 | $805 | $747 | $725 |
| Old Rip Van Winkle 10 Year Bourbon (2018) | $891 | $991 | $925 | $759 | $655 | $598 | $632 | $678 |
| Old Rip Van Winkle 25 | $11,995 | $18,443 | $31,500 | $37,500 | $32,500 | $32,500 | $28,865 | $27,500 |
| Pappy Van Winkle 13 Year Rye | $1,955 | $1,677 | $1,748 | $1,495 | $1,161 | $1,455 | $1,808 | $1,808 |
| Pappy Van Winkle 15 Year Bourbon (2018) | $2,300 | $2,625 | $1,977 | $1,966 | $1,727 | $1,288 | $1,449 | $1,518 |
| Pappy Van Winkle 20 Year Bourbon (2018) | $3,277 | $3,433 | $2,932 | $3,363 | $2,196 | $1,840 | $1,966 | $2,001 |
| Pappy Van Winkle 23 Year Bourbon | $3,435 | $4,788 | $4,140 | $3,910 | $3,244 | $2,961 | $2,875 | $3,030 |
| Van Winkle Special Reserve Lot B 12 Year | $771 | $940 | $1,042 | $867 | $632 | $655 | $658 | $861 |
| Orphan Barrel Rhetoric 21 | $274 | $437 | $269 | $322 | $293 | $333 | $308 | $264 |
| Orphan Barrel Rhetoric 23 Year Old | $230 | $368 | $282 | $265 | $253 | $253 | $287 | $304 |
| Parker's Heritage 24 Year Bottled-In-Bond (2016) | $690 | $875 | $812 | $851 | $713 | $816 | $759 | $782 |
| Rittenhouse 23 Year Old Rye | $1,718 | $2,161 | $2,002 | $2,500 | $2,104 | $2,116 | $2,000 | $1,874 |
| Russell Reserve 1998 (2015) | $1,063 | $2,241 | $2,000 | $2,673 | $2,328 | $2,415 | $2,300 | $2,443 |
| Thomas H. Handy Barrel Proof Sazerac Rye (BTAC 2018) | $657 | $762 | $747 | $598 | $471 | $419 | $408 | $402 |
| W.L. Weller 12 Year | $264 | $345 | $345 | $235 | $178 | $201 | $166 | $273 |
| Weller Antique 107 Bourbon (2018) | $164 | $155 | $161 | $161 | $178 | $149 | $178 | $172 |
| Wild Turkey Diamond Edition | $195 | $299 | $419 | $276 | $235 | $325 | $287 | $258 |
| Wild Turkey 'Tradition' Bourbon (1994) | $365 | $375 | $255 | $342 | $327 | $471 | $471 | $304 |
| Wild Turkey Tribute 15 Yr Old | $1,562 | $1,538 | $1,528 | $1,955 | $1,851 | $1,750 | $2,328 | $2,501 |
| Willett Family Estate 11 Year Single Barrel | $1,883 | $1,466 | $1,265 | $1,046 | $1,187 | $1,000 | $1,063 | $1,012 |
| William Larue Weller Barrel Proof (BTAC 2018) | $1,037 | $1,955 | $1,546 | $1,564 | $1,173 | $1,161 | $1,276 | $1,196 |
| William Heaven Hill 15 Cask Strength | $2,812 | $2,571 | $3,000 | $2,231 | $3,651 | $3,018 | $3,000 | $3,000 |
| Woodford Reserve Double Double Oaked | $150 | $230 | $356 | $189 | $276 | $207 | $236 | $189 |
The +6.02% gain in Q2 2025 represents the strongest quarterly performance since the 2021 peak. This suggests the bourbon correction cycle may be nearing its end, with collectors beginning to re-enter the market at more attractive valuations.
Ultra-Premium and Premium categories (60% of index weight) are showing signs of stabilization after the correction. Mid-Range bourbons continue to demonstrate resilience, while Standard and Entry-Level categories provide portfolio balance.
At 16.44% below the 2021 peak, many quality bourbons across all price categories are trading at compelling valuations. The market appears to be finding support at these levels.
| Period | Index Value | Period Change | Cumulative Return | Market Comment |
|---|---|---|---|---|
| 2020 (Base) | $1,115.87 | - | 0.00% | Index launch year |
| 2021 | $1,432.19 | +28.35% | +28.35% | Peak bubble year |
| 2022 | $1,304.79 | -8.90% | +16.93% | Correction begins |
| 2023 | $1,281.47 | -1.79% | +14.84% | Continued decline |
| 2024 | $1,139.75 | -11.06% | +2.14% | Market trough |
| Q1 2025 | $1,128.78 | -0.96% | +1.16% | Stabilization |
| Mid-Q2 2025 | $1,171.02 | +3.74% | +4.94% | Recovery begins |
| End-Q2 2025 | $1,196.75 | +2.20% | +7.25% | Momentum building |
The bourbon industry achieved record sales in 2024 with $5.3 billion in revenue and 12% year-over-year growth. Export growth climbed 15%, with key markets in Europe, Japan, and Australia showing significant gains.
Source: Lane Report
Barrel prices for aged bourbon have dropped significantly, with 8-year Kentucky bourbon now available in the $2,200-$2,500 range, down from $4,000+ in 2022. The oversupply could impact the industry through 2028.
Source: VinePair
Heaven Hill announced a $70 million investment to expand its Bardstown campus with a new glass bottle manufacturing facility. Several distilleries launched new age-stated expressions reflecting growing consumer preference for mature whiskey.
Source: Brindiamo Group
American whiskey sales declined in 2023 for the first time in 20+ years, with 2024 showing further decline. However, industry experts say "the sky is not falling" as bourbon maintains strong status domestically and internationally.
Source: Whisky Advocate
Trade wars and tariffs are affecting the whiskey industry, with several distilling companies including Brown Forman, Green River, and Diageo slashing staff. India reduced its bourbon tariff from 150% to 100%.
Source: Alcohol Professor
Canadian whisky enters the U.S. tariff-free, giving producers like Crown Royal a pricing edge. U.S. whiskey production hit record levels with Kentucky producing 2.7 million barrels of bourbon in 2022, raising supply concerns.
Source: OhBEV
The annual BTAC lineup returns with George T. Stagg Bourbon, Thomas H. Handy Rye, and other coveted expressions. Pricing expected to remain around $150 MSRP per bottle, though secondary market values will likely be much higher.
Source: Bourbon Bossman
New limited edition cask strength bourbon (109.2 proof) finished with two distinct toasted American oak stave profiles. Available at select retailers for $75 MSRP, honoring the warehouse team's barrel rotation process.
Source: The Bourbon Review
Following 2024's exceptional 14-year Malt Whiskey finished in ex-Cognac barrels, the 19th edition promises another unique expression. Past releases have ranged from bourbon to rye to wheat whiskey. Expected MSRP around $170.
Source: Uproxx
New 95-proof bourbon from Buffalo Trace positioned between Eagle Rare 10 and Eagle Rare 17. Features sweet oak and vanilla notes with a port wine-like finish. Label approved but release date not yet confirmed by Buffalo Trace.
Source: Frootbat
First Cellar Collection release under new Master Distiller Owen Martin. Straight rye finished in French oak Extra Añejo tequila barrels from Hacienda Patrón, including whiskeys aged up to 11 years. Limited availability expected.
Source: Bourbon Obsessed
Heaven Hill's popular decanter series continues with a 9-year-old expression at 100 proof. Following 2024's exceptional steel tank-aged release, collectors have high expectations. Expected MSRP around $130.
Source: Soaking Oak
The data and analysis contained in this report may be used for research, educational, and commercial purposes, provided that proper attribution is given to the Cask100 Bourbon40+ Index. Any reproduction, distribution, or derivative use of this data must include the following attribution: "Data source: Cask100 Bourbon40+ Index".
This index is provided for informational purposes only and should not be considered as investment advice. Past performance does not guarantee future results. The bourbon market can be volatile and illiquid.