Bourbon has specific requirements
The Rules that Bourbon Lives By
Whiskey Produced in the United States.
Made from a minimum of 51% Corn -- along with a combination of other grains such as Rye, Wheat and Malted Barley.
Distilled at no higher than 160 proof.
Aged in new, Charred Oak Barrels at no more than 125 proof.
Must be a minimum of 80 proof at bottling.
The beauty of bourbon comes from the ageing in wood barrels. Longer is better, generally, and is more expensive to store for years. The longer in a barrel , the less remaining. Evaporation. This drives the cost up. So does marketing and high demand. If you like bourbon, you’d like an older bourbon more! Is it worth it? Only you can tell. I’ve have and tried all the best , and older is better to my tastes. But try the younger ones to find your taste preference. 4Roses, Woodford , BuffaloTrace , Jim Beam products -Bookers, KnobCreek,BaslHayden, are solid performers. Try a 17 year old EagleRare or GeorgeTStagg or 20 year PappyVanWinkle.. Most bourbon drinkers would like them. Unfortunately, there are millions of bourbon drinkers driving the price up and a secondary market( buy to resell) to 10 to 20 times original cost.
Fortunately, the high demand is making good competition and in a few more years, their additional production and storage will be coming to market.
My favorite is GeorgeTStagg.