Grab a large bowl and whisk together the mayonnaise, ketchup, apple cider vinegar, and horseradish until the mixture is smooth and creamy with no lumps.

Add in the brown sugar, molasses, Worcestershire sauce, mustard, paprika, garlic powder, onion powder, black pepper, salt, cayenne, honey, and a splash of liquid smoke. Keep whisking until everything is well combined and the texture looks even.

Give it a taste and tweak anything you like maybe a bit more sweetness, spice, or tang. If you want a richer flavor, warm it gently in a saucepan over low heat for a few minutes, but don’t let it boil. Let it cool down before storing.