Question about fair value?
Thought experiment. Picture a store with a very wide selection, no tax, and all of it listed at MSRP. You walk in with a budget, close your eyes, and grab one bottle at random. Craft, sourced, no-age stuff, big national brands, all of it in the pool. What does that bottle score on average?
Here's where I'd land:
| Quality Score | "Fair" Value |
|---|---|
| 10 - Perfect | $250 |
| 8 - Really quite exceptional | $100 |
| 6 - A cut above | $50 |
| 5 - Good, just fine | $40 |
| 4 - Not bad, but better exists. | $30 |
| 2 - I wouldn't consume by choice. | $5 |
So on average $40 at this store gets you a 5, good and just fine. I'm thinking there is a pretty big spread here, $40 can get you anywhere from a 3 to a 7, but in general a whiskey purchased for $40 should be held to a standard that it score at least a 5 to be "Fair" Value.
To be clear, the Quality Score I'm listing is just the quality of the whiskey, for a lot of you this would be just your nose, palate, and finish scores being considered.
I think the average user on this sub is like me in that they usually do their homework before going into the store. So this scale likely seems a little high, but let me explain. I've been trying to calibrate more to the average consumer, mostly because I've been taking my wife with me on hunts and she typically just grabs things (from my perspective) at random. Shopping more on budget, vibes, an eye for catchy deals/bottles or "Store Associate Todd Recommends" tags. (I've recently started pointing her towards "Limit 1 per customer" tags instead.)
All that to say, when you shop to explore the full shelf where can you expect Fair Value to land?