Step 1 Cook the beet in boiling salted water until tender, about 40 minutes; trim and peel.
Step 2 Cut it into quarters, and place it in a blender with shallots, vinegar, honey, water, and salt and pepper. Puree, then slowly add one-half cup oil until the mixture is smooth (covering the blender with a towel to prevent splatters). Makes three-fourths cup.