For the Steaks:

1. Take the steaks out of the fridge 30 minutes before you are ready to cook. You want them to be close to room temperature so that they cook evenly.
2. Season both sides of the steaks liberally with the salt and pepper. Trust me on the amounts – the steaks NEED a lot of seasoning!
3. Heat a large cast-iron skillet over high heat. Add the oil to the pan. Once it is shimmering and super hot, add the steaks to the pan. Cook for 3 minutes on each side, developing a deep brown crust on both sides of the steak. Do not touch them once you put them in the pan – when you move them around, you’re disturbing the crusting process!
4. Reduce the heat to medium-low and and add in the butter, garlic cloves, and thyme.
5. Once the butter is melted, carefully tilt the pan so all the butter pools in one spot (use a thick kitchen towel or oven mitt to touch the handle of your very hot pan). Spoon the hot butter over the steaks constantly, like you are basting them, for 1 minute.
6. At this point, you can use an instant-read meat thermometer to check the internal temperature of the steaks. Insert it into the thickest part of one of the steaks and once it reads 130°F, the steaks will be perfectly medium rare (they will continue to cook slightly from carry-over heat while they rest).
7. Remove the steaks from the pan and set on a cutting board or plate. Cover with tin foil and allow them to rest while you make the cherry sauce.

For the Cherry Sauce:

1. Use the same pan for the cherry sauce as you did for cooking the steaks. Do not discard any of the butter or fat from the pan. Discard the thyme sprigs. Keep the garlic cloves in the pan.
2. Add the butter and shallot and cook over medium heat for about 3 minutes or until the shallots begin to soften.
3. Add in the chopped thyme and the cherries. Cook for about 5 minutes, stirring frequently.
4. Once the cherries begin to soften and release their juices, add in the wine, balsamic vinegar, honey, and mustard. Stir to combine and make sure that you scrape up any browned bits from the steaks off the bottom of the pan (this is where the flavor lives!).
5. Bring the mixture to a simmer and cook over medium-low heat for about 10 minutes. The wine will reduce and the cherries will burst and be super soft and juicy.
6. Season, to taste, with salt and pepper.

To Serve:

Slice the steaks and either serve them directly in the pan with the cherry sauce or with the sauce spooned over top.