At Barrel Global, you own your barrel. Buyers are provided with a certificate and documentation proving purchase -- assets are fully your own with full paper trail to prove. Owners can transfer barrels elsewhere if you choose to do so, but you are fully protected when stored with BG as well. Even if stored at a distillery which was to fail, creditors would not be able to take your barrel.
Regarding scotch, you are able to move it to another location however you would need to obtain your own ‘Duty Rep’ in the UK who would help you do this.
It's important to note that we don't lock people into staying with Barrel Global, so long as they take the necessary steps to move legally. Many companies require that you store and/or bottle with them as part of contracts; we do not do this.
Bourbon - This depends on the state that the barrels are being aged in. In Kentucky, the state taxes $.05 per $100 of the assessed value of aging bourbon, otherwise known as the “Kentucky barrel tax.” However, Kentucky is unique. If your barrel is not being aged in Kentucky, then taxes only get paid when the barrel is bottled and taken out of bond.
At Barrel Global we are choosing the distilleries and casks that have the most potential and will see the greatest value. The most famous and established brands do not sell new make casks as they would rather age the liquid themselves before bottling it and putting it on the market. At Barrel Global we are focusing on new fill offerings from respected distilleries that will appreciate with age and allow cask collectors to enjoy the process of seeing their whisky age from start to finish.
The distilleries that make and store the barrels in their secure warehouses have costs associated with that. There is also a cost of real estate, very similar to any type of storage. When there is a lack of storage that real estate storage becomes more valuable, but it also creates more liability that the distillers have. Insurance deductibles are very expensive so distillers take as much caution as possible to make sure your barrels mature in the secured, and undisturbed way.
Depending on the state that you are in. Barrels can be transferred in bond to another warehouse with a DSP license. In some states they may allow you to take the barrel home out of bond.
Many whiskey clubs work with Barrel Global to add as a part of their unique collections in an entirely new way than ever before. Barrel Global is giving individuals the chance to experience whiskey collection like never before.
Visual inspections of barrels happen on a daily basis. If a cask is shown to leak the distiller will remove that barrel and inspect it closer. Barrels “breathe” the alcohol in and out of their staves as they age. This is how the oak flavor and color is imparted on the whiskey itself. When drastic temperature changes occur this can lead to a barrel appearing to leak, when it’s actually likely condensation from water in the air. If a barrel is damaged, or has a defect, the distiller will make reasonable efforts to fix the leak in a timely manner so as to preserve the remaining contents of the asset.
If you choose to bottle your barrel you can choose to sell them by taking the necessary legal steps to do that. Some distilleries allow for bottling, and others do not. The state that the alcohol is being shipped to has to be allowed to legally accept such a delivery while the party shipping the alcohol must be licensed to sell beer, wine or liquor in the states. In order to sell an alcoholic beverage to the public, you have to file a COLA through the TTB. COLA stands for “Certificate of Label Approval.” Once the label has been approved, you can sell your bottle legally through the US 3 tier system. Please visit TTBGov - Distilled Spirits FAQs for more information. If you would like to keep the bottles for personal use, the TTB requires that you apply for a certificate of exemption from label approval. Please see section S14 in this link TTBGov - Distilled Spirits FAQs
At Barrel Global we want you to feel safe and secure when transacting with us. One service we offer to facilitate this is that you can pay by credit card, this gives you all of the buyer protections that your card issuer provides. You can even top up those points whilst buying a barrel!
Yes we do, for any individual you refer we offer $100 credit off your next barrel purchase or annual storage fees.
The real foundation of Barrel Global is an online marketplace that allows the exchange of barrels between parties. This connects private individuals, distilleries, bottlers, brands and corporate buyers. The easiest exit is to simply list a barrel on the exchange and sell to another party. In some cases, like Revelton, the distillery may even purchase the barrels back themselves. If you choose to bottle there is more profit potential but this does present some added risk. To bottle you will need to select the bottle, label and pay a design fee. There will also be a bottling fee and, if reselling bottles, will need to get a COLA for bottles. Then the bottles could be put for sale through Barrel Global and/or other online retailers.