The 20 Highest Hammer Prices of 2025
The global auction market was led by scotch, with the Distillers One of One auction in October playing an outsized role in the annual results
January 5, 2026 –––––– Jonny McCormick
The 20 single bottles of whisky commanding the highest hammer prices of 2025 sold for a combined $3.69 million—up 32% from last year. The lineup spans 14 scotches, 3 Japanese whiskies, and 3 American whiskeys. In March and October, the 20 highest totals broke the $1 million mark. Overall, 2025 outperformed comparable months in 2024 in 8 of the 12 months, finishing with a 5-month run of stronger results that signals positive momentum in the market heading into 2026.
Eight scotches on the list were one-of-one releases consigned directly from distillers, and many of them were large format bottles. In May, Bowmore won the auction showdown of one-of-one exclusives with Dalmore, propelling the Bowmore ARC-54 The Iridos Edition into the year’s 20-highest hammer prices. October’s biennial Distillers One-of-One auction with Sotheby’s claimed seven places on the list, the most of any single auction this year, including the four highest hammer prices of 2025 - that certainly helped boost the total compared to 2024. Glenlivet had a breakout year; Glenlivet SPIRA 1965 60 year old took the highest auction price of the year at $693,682, the Gordon & MacPhail 85 year old from Glenlivet became the oldest whisky ever sold at auction, and Eternal Collection Second Edition 56 year old One of One and Eternal Collection First Edition 55 year old both made the monthly lists during the year. The other auction phenomenon was Very Very Old Fitzgerald Blackhawk, distilled in 1950 and bottled for the Wirtz family, the liquor distributors and Chicago Blackhawks owners. As the NHL team celebrated its centenary, two bottles of the 18 year old Blackhawk made the 20-highest hammer prices of the year, with Unicorn Auctions setting a new record hammer price.
Yamazaki scored the two highest hammer prices for Japanese whisky this year. Karuizawa had the highest hammer price of 2024, but failed to make the list in 2025. Following its release in October 2024, Hibiki 40 year old sold regularly at auction, but this activity declined in the spring, after which it became a rare sight; even when it did appear, it didn’t always sell.
The final story of the year was the Macallan price crash, with prices on big-ticket ultra-premium bottles tumbling by tens of thousands of dollars at auction, with an increasing number of Macallan bottles left unsold. There was still plenty of success: Macallan achieved more bottles in the 20-highest hammer prices of the month than any other brand, and ended the year in dominant fashion. Whisky Auctioneer set the highest Macallan hammer price of 2025 in March, with the sale of Macallan Sir Peter Blake Anecdotes of Ages 1967 A License to Distil for $127,748. Only four bottles of Macallan made the list in 2025, compared with 13 entries in 2024. Macallan The Reach 81 year old’s best price in 2025 was $106,475, compared to $192,377 in 2024, a fall of 44.6%, and Macallan The Red Collection 60 year old’s highest in 2025 was $95,334, down 41.5% from last year’s high of $162,889. Numerous factors, from tariffs and trade wars to changing consumer habits, created challenges for the whisky industry this year, but a fall in Macallan prices in a strengthening auction market may mix up the list in 2026. As always, Whisky Advocate will keep you up to date as the story unfolds, so watch this space throughout the year as we reveal which bottles rise to the top.
The 20 Highest Single Bottle Hammer Prices of 2025
Results converted to dollars using xe.com
20. Very Very Old Fitzgerald 1950 18 year old Blackhawk
Sold on: September 24th at Sotheby’s, New York
Hammer price: $85,000
19. Very Very Old Fitzgerald 1950 18 year old Blackhawk
Sold on: October 18th at Unicorn Auctions
Hammer price: $85,200
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18. Glenfarclas 58 year old
Sold on: October 10th at Sotheby’s, Edinburgh
Hammer price: $86,710
17. Macallan The Red Collection 60 year old
Sold on: February 10th at Whisky Auctioneer
Hammer price: $95,334
16. Dalmore Constellation Collection 1964 46 year old
Sold on: July 7th at Whisky Auctioneer
Hammer price: $95,453
15. Old Rip Van Winkle Van Winkle Selection
Sold on: March 21st at Sotheby’s, New York
Hammer price: $100,000
14. Macallan in Lalique 50 year old
Sold on: December 16th at Whisky.Auction
Hammer price: $100,684
13. Macallan The Reach 81 year old
Sold on: January 6th at Whisky Auctioneer
Hammer price: $106,475
12. KANDOBLANC Dragon in Clouds 60 year old
Sold on: October 10th at Sotheby’s, Edinburgh
Hammer price: $113,390
11. Bowmore ARC-54 The Iridos Edition
Sold on: May 29th at Sotheby’s, London
Hammer price: $121,384
10. Macallan Sir Peter Blake Anecdotes of Ages 1967 A License to Distil
Sold on: March 10th at Whisky Auctioneer
Hammer price: $127,748
9. Hanyu Ichiro’s Malt Card Series 1988 Ten of Spades Cask No. 9204
Sold on: March 10th at Whisky Auctioneer
Hammer price: $132,910
8. Laphroaig CAPSULE 40 year old
Sold on: October 10th at Sotheby’s, Edinburgh
Hammer price: $133,400
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7. Gordon & MacPhail 85 year old from Glenlivet Distillery
Sold on: November 21st at Christie’s, New York
Hammer price: $160,000
6. Yamazaki 50 year old (2011 Release)
Sold on: November 20th at Sotheby’s, London
Hammer price: $183,081
5. Yamazaki 55 year old
Sold on: June 12th at Bonhams Skinner
Hammer price: $200,000
4. Ladyburn Marilyn Monroe by Sam Shaw 1966 58 year old
Sold on: October 10th at Sotheby’s, Edinburgh
Hammer price: $240,121
3. Port Ellen Prism 1978 46 year old
Sold on: October 10th at Sotheby’s, Edinburgh
Hammer price: $400,201
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2. Glen Grant Eternal 1948 77 year old
Sold on: October 10th at Sotheby’s, Edinburgh
Hammer price: $426,881
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1. Glenlivet SPIRA 1965 60 year old
Sold on: October 10th at Sotheby’s, Edinburgh
Hammer price: $693,682
