Tip 1: If your bar will be mostly for cocktails, stock liquors that are best for mixing.  We suggest a Gin, Vodka (not flavored), and Bourbon; as well as an un-aged/silver Tequila and/or Rum.  If you and your guests are more into sipping fine spirits, invest in aged spirits in which you can really explore and savor the aromas and notes. 

Tip 2: Liquor bottles are works of art.  Feel free to repurpose them (vases, accent pieces, etc.) around the house.