A new meaning for 'liquid assets.'
The company will create an initial offering on the Rally app, similar to an IPO, which will be priced at $14,000. When it’s fully bought out Rally holds onto the asset for 90 days, at which point the whiskey will be made available on the Rally secondary market. It’s also possible that at some point the whiskey will receive a full buyout offer, which would then be presented to the investors for approval. Of course, as with any investment, there’s a chance that the Pappy could decrease in value.
It’s a sign that the world of bourbon is catching up to what what wine aficionados have enjoyed for some time, which is that their have outpaced equities markets in appreciation. However, instead of having to hunt the bottles down yourself to hold and flip, Rally is offering to let you buy shares in bottles they’ve secured already and then making the market.This seems like a situation ripe for detractors, as there are plenty of whiskey fans busy hunting down unicorn bottles who are pretty fed up with the robust secondary market driving up prices .
According to Rally CEO George Leimer, the only feedback he’s gotten so far has been from producers who want to get their bottles on the platform. “As far as whiskey enthusiasts reaching out supportively or in frustration, we haven’t gotten much of that,” he told. “We’ve gotten a couple of thousand investors in wine and spirits so far, but we haven’t heard that feedback.” He also said that this is just the start, as Rally plans on adding more whiskey assets in the future.
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