What's The Most Expensive Pappy Van Winkle Bottle?
Many aspects of food have always been about luxury. Caviar and champagne are the perfect pairing for a decadent meal, and to drain your bank account; Surf and turf seems like it was invented just to show off that you could afford both lobster and steak; and certain prices on the wine list will always seem like a misprint. Every state has expensive, luxury restaurants at this point.
There are always folks on the other end of the spectrum watching their wallets at times when food prices remain high. When staple foods become inflated though, the price of luxuries seems to climb as well.
One luxury that is often sought after by aficionados and collectors is a fine bottle of Pappy Van Winkle, per Robb Report. This rare and highly sought-after bourbon whiskey has such a reputation that Old Rip Van Winkle Distillery even has a tracker that allows those seeking a bottle to find the nearest store that might have one in stock. "Might" is the key word though, and even knowing where you can find a bottle doesn't mean it will be there, or if you can afford it.
Why is Pappy Van Winkle such a big deal?
According to the Buffalo Trace Distillery which manufactures Pappy Van Winkle bourbon, says that its namesake Julian Van Winkle Sr. was one of the founders of the infamous Stitzel-Well Distillery. They produced a bourbon made with a high concentration of wheat in the mash bill. This helped it to stand out from the other more rye-heavy offerings of the time.
Robb Report says that as demand for bourbon faded over the century, Van Winkle's son Julian Van Winkle Jr. had to sell off much of the brand's old stock to keep the brand alive. Many of the assets that were used to make the bourbon had to be given up. Then, in the early 2000s, he began working with Buffalo Trace Distillery to try and recreate that same successful bourbon. At the same time, whiskey was quietly making a comeback, and those with the insider knowledge knew to ask for Pappy Van Winkle bourbon by name.
VinePair reports that those insiders were inspired to track down as much of this bourbon as possible when the Beverage Testing Institute issued it a 99 out of 100. This was the highest rating ever given out at the time, cementing it as one of the best whiskeys available.
This reputation paired with the whiskey's low supply has helped it frequently sell at a prestige price point, per Liquor Laboratory.
The most expensive bottle ever sold
VinePair claims that only about 84,000 bottles of Pappy Van Winkle are released every year. Many of them often sell for thousands of dollars a piece, and one even started at an auction price of $20,000 in 2018. That doesn't even come close to the most expensive bottle ever sold though.
Food & Wine reports that in December 2022 a 23-year-old bottle of Pappy Van Winkle sold at auction for $52,500. This was the highest price any bottle of Pappy Van Winkle had ever been sold for and came in roughly 17 times higher than its expected price. The bottle was originally released in 2008 and came with its original black velvet bag.
There were 13 other bottles of Pappy Van Winkle that were all sold individually, per Food & Wine. Each one exceeded the expected price showing an increased interest in rare and precious bottles of whiskey.
"The auction marked a remarkable end to a year that has seen prices soar for American whiskey at Sotheby's," said Sotheby's (which conducted the auction) head of whisky & spirits, North America and EMEA Jonny Fowle.