The world of whiskey is one rife with extremely long aging processes, and exceedingly limited releases. Distillers pay the toll of the “Angel’s Share,” referring to volume loss to evaporation and what is absorbed into the barrel itself. The whiskey sold on shelves in the local grocery or liquor store has versions that easily exceed thousands of dollars. And that’s not even getting into the limited run versions which can easily be priced higher. Single-malt whiskey is the top shelf pick and prized by whiskey drinkers. As a result, a lot of distilleries tend to blend their whiskey to cut down on costs, as traditional single-malt can easily drive the cost up.

What makes whiskey so expensive isn’t the process behind making it, but like a lot of things these days, it’s brand recognition. Those in the scene know the names of big distilleries such as Old Rip Van Winkle, Macallan, or Michter’s. These whiskey producers make some of the most expensive whiskey on the market. Old Rip Van Winkle makes the extremely sought after Pappy Van Winkle, which can fetch prices of $2,000 per bottle. The Scottish distillery, Macallan, recently unveiled their oldest expression to date, a 81-year-old single malt scotch whiskey. Lastly, Michter’s has the distinction of being the oldest American whiskey company that has a number of limited run bottles, with some of their own variants priced at over $10,000.

Most rare bottles are sold at auction with bids easily exceeding their original retail value or even their estimated value. The sale of rare bottles at auction is a commonplace occurrence. It might seem unbelievable that a bottle of Macallan sold for over $100,000, but that’s not even the highest sold at auction. In 2019, a bottle of Macallan 1926 60-year-old sold for almost $2 million at auction.

A primary factor in determining what makes wine expensive is the vintage, or the year the grapes were picked. In addition to the year, there are a variety of countries, and regions within those countries that also determine the end cost. Unlike many whiskeys, generally it’s the region and vintages that are important instead of brands. Every year is different for the spherical crop, and some years might be worse than others. For some wineries, a year could have been plagued with frost, while the next year was the perfect condition for them. All in all, the vintage is important to the consumption of the fermented drink.

In addition to the vintage, there are also styles to pay attention to. Everything from the crisp, refreshing whites, to the full bodied reds, and everything in between are important to the end price. But again, the region comes into play for the style. For example, California is best known for its Cabernet Sauvignons, whereas France is known for its Bordeaux. In addition to style, aging is also a factor. While it is generally agreed upon to age red wines, whites don’t exactly age well and should be consumed within a few years of their original vintage. Of course it all depends on the style of wine, which makes the style important.

It is unsurprising that wines, much like whiskeys, would also sell at auction for exuberant prices. Wines can easily sell for upwards of $400,000, putting them right alongside their alcoholic brethren. A six-liter bottle of Cabernet Sauvignon made by Glass Slipper Vineyard sold for a record $1 million in November of last year at a charity auction. In addition to the sale of just bottles, whole cases and even casks are also sold. Wine auctions take place all the time, and the attention they garner are worthy of praise.

Much like wine and whiskey, beer has also become a highly sought after commodity. Beer can be equally well crafted, aged, and made into a limited run. While not nearly as expensive, the beer world has broken into the highly coveted auction market. A bottle of Cantillon’s Loerik 1998 sold for $2,583 at auction in 2014. The idea of limited run vintages is what makes these bottles extremely sought after in addition to the brand name. There are even some people who are willing to wait in line for hours to get a glass of the renowned Pliny the Younger brewed by Russian River.

A recent resurgence of speakeasies has caused quite the stir for expertly crafted cocktails containing only the best spirits. Some places offer a relaxed environment with a classic feel, while others put on a whole show. Regardless of the venue, one can expect artisan-inspired cocktails using a wide range of spirits. Whether it be a classic Manhattan, or something that the resident mixologist created with their own unique flair, there is sure to be a tasty treat in store for the customer.

Another trend that has been growing in popularity are bottle share parties. These parties are generally for beer, but could easily be for other spirits as well. The idea is that people come together and share their rare bottles of wine, whiskey, beer– whatever they happen to have. Drinking an entire bottle to yourself is a bit selfish after all, why not share that bottle with other like minded individuals? These parties can range from the extremely rare, to the simple act of “hey let’s drink some good stuff.” While there are no hard and fast rules for bottle share parties, it is generally agreed that you should at least bring your own drink to share.