I guess we typically use Şerefe to mean "Cheers", and that serves well enough. But I have heard something different. A few years ago I was walking down Istiklal in Istanbul when I fell into conversation with an old chap - well about as old as me I suppose. He talked quite interestingly about Istanbul and I allowed myself to be persuaded to go for a drink. He took me through Çiçek Pasaj and a little way down the hill on the other side. He pointed out bars of which he said "This is where the journalists drink" and "This one is where the lawyers come". We settled in one of these and I had a beer and he had a rakı {which he said was cheaper; but it wasn't}. We lifted our glasses and chorused "Şerefe". Then he began his explanation of the meaning of this toast. It meant, he said, "to honour". I had heard this before and thought that was all there to it. But then he asked "Who is the honour to?". "All people present, I suppose". "No, no. It is to the honour of the table". My face must have shown I was perplexed by this. He explained that when drinking rakıı men might say and do things that they wouldn't when sober. But no-one in the party would gossip about this later {"You'll never guess what Mehmet confessed!"}; instead, they would keep quiet and respect the honour of the table. So "Şerefe" expresses more or less the same meaning as the rugby phrase "What goes on tour stays on tour" - but so much more elegantly. Şerefe!
Is this true? What do you think?