GENERAL

One Million Price Observations

12. November 2021 | 484 Views

We have reached a huge milestone in the Whiskystats journey but this is not the only reason we can celebrate these days. We will use this opportunity to reflect on the current state of Whiskystats and how we arrived here. In addition, we will review our recent survey and highlight our next steps. 

1.000.000 identified prices. This means that we collected a raw auction result, extracted the relevant whisky characteristics from the lot description, compared that to the bottles in our database, and eventually made a decision whether or not that information matches, well, one million times. In fact, because auctions sometimes include non-whisky bottles, we actually collected 1.429.935 auction results removing anything not relevant to our goal here at Whiskystats.
 
By identifying each and every traded whisky bottle, we bring true value to this auction data. This allows our members to comfortably and confidently track the prices of their whiskies and enables us at Whiskystats to create unprecedented insights into the secondary whisky market. And this market has changed remarkably since we began our journey back in 2015. To cite a few examples, we witnessed the Japanese Whisky Boom that peaked in late 2015 and observed how the Macallan Price Rally unfolded in 2016 and 2017. The Winter 20/21 Sprint catapulted many prices to a whole new level and it might be continuing for the foreseeable future. What is certain however is that whatever market movement occurs next, Whiskystats will be tracking it closely.

The Whiskystats Journey

Whiskystats was born as a hobby project with the sole purpose of tracking one private whisky collection. But it soon became clear that there was a substantial demand for quantitative and structured information on whisky prices. In the years that followed, the focus of Whiskystats became collecting and sorting large amounts of whisky data. The graph below not only shows how the number of identified whisky bottles in our database increased over the past years but at the same time also indicates the number of different whiskies that were traded on the auction platforms we track.
Number of identified whiskies It has now been more than six years since Whiskystats went online. From its inception as a website, the goal was to be an independent source creating previously unavailable but much-needed unbiased insights into the whisky market. In 2014, already thousands of whisky bottles were being traded each month, yet there was no platform to conveniently check on the latest prices. But transparency is the key ingredient to a fair and well-functioning market, so Whiskystats entered the stage. And now it is time to step up the game!

The Whiskystats Future

Whiskystats has thus evolved from a personal project into a valuable source of information for a worldwide audience. In addition, we are now partnering with Whiskybase to further improve our whisky coverage and data quality. First and foremost, this will allow us to build upon the Whiskybase bottle database. With more than 185 thousand cataloged whisky bottles and a lively community, Whiskybase is without a doubt the world’s most sophisticated whisky online archive. But this partnership also enables us to further refine the Whiskystats experience. Whether you are a whisky enthusiast or a professional in the industry, Whiskystats will be tailored to your needs.

The Whiskystats Survey

And finally, this brings us to the Whiskystats survey. Recently we invited all Whiskystats members to fill in a questionnaire to find out who is actually using the information presented on our platform and for what purpose. This feedback will now allow us to better focus on what is most important for our Whiskystats members. The three major concerns were to
 

  • Increase the number of whisky bottles in our database.
  • Add more images to those bottles.
  • Create a state-of-the-art user experience.

The good news is that we are already working hard to bring to our members this new and improved Whiskystats experience. Over the next few months, we will be reimagining the Whiskystats website based on the survey results and the general feedback we have received. Together with those members who offered to participate in usability testing, we will continue to refine our method of delivering whisky data. And we will do all of this by further pursuing our original goal of establishing a trustworthy and independent data platform that brings transparency to the whisky world!