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Lisa Cam

Over the last 10 years, rare whisky has seen significant price increases and fluctuations, with some bottles fetching millions at auction.
But what is in the bottle is not all that matters. These days, packaging plays an important role in determining the value of a rare vintage, according to Jonny Fowle, global head of spirits at Sotheby’s auction house.
“Presentation in whisky is a key factor,” he says.
Unlike wine, whisky can maintain its condition even when placed on a display shelf in a collector’s home, so the allure of a bottle can lie in how it looks.
This is one reason why there has been an explosion of creativity in the packaging of rare whiskies in recent years, Fowle says.

Sotheby’s is currently working on a four-year project called The Luminary Series with Scotland’s Dalmore distillery and design museum V&A Dundee, in which the packaging of rare whiskies is designed by renowned architects. Three editions of rare whiskies have already been released.
Luminary No. 1 was released in 2023 in collaboration with Japanese architect Kengo Kuma. The UK’s Zaha Hadid Architects worked with the whisky maker for Luminary No. 2, released in 2024, while Luminary No. 3 was released this year in collaboration with Foster + Partners.
As part of the project, the bottles are displayed at the V&A Dundee and auctioned, with proceeds going to support the museum.
Such collaborations that combine rare whisky and high-end art and architecture have become increasingly popular in recent years.
Another notable collaboration was between Speyside distillery The Macallan and pop artist Peter Blake, the man behind the iconic cover for The Beatles’ 1967 album, Sgt. Pepper’s Lonely Hearts Club Band.
Meanwhile, the now-closed Ladyburn distillery in the Scottish Lowlands featured bottle art by Korean artist Ha Chong-hyun on a collection of exclusive 50-year-old whiskies.
As with any collection, rare vintages lose value if not kept in pristine condition.
“If a bottle is missing its box, it can be assumed that this whisky might sell at auction for 10 to 20 per cent less than an identical bottle with its box,” Fowle says.
“Likewise, if labels and packaging are scratched or significantly damaged, this will detract from the desirability. Even in the secondary market, collectors are ideally looking for bottles that are ‘as new’ or at least where the condition is relative to the age of the whisky.”
It raised eyebrows, then, when The Glenrothes, a single malt Scotch whisky distillery in Speyside, recently released its oldest expression, “The 51”, in a case that had to be smashed to access the bottle.

The case, made from Jesmonite – a composite material with a stone-like finish – came with a custom hammer, the idea being that buyers send the broken pieces to a contracted kintsugi artist for reassembly.
Kintsugi is the Japanese art of repairing broken pottery by sticking the pieces back together using a lacquer and powdered gold mix.
“The Glenrothes 51 adds another dimension to the conversation around collecting rare whiskies,” says Anna Lisa Stone, creative director at The Glenrothes.
“It offers a deliberate choice: break the Jesmonite column and preserve the liquid, then reassemble the sculpture into a unique work of kintsugi art; leave it untouched and [it] becomes one of a diminishing few with an intact column; or open it and savour the whisky inside,” she says.
“The value lies not in preservation alone, but in the personal meaning behind the decision you make.”

Once the column is broken, a stand for The Glenrothes 51 is revealed, inspired by the shape of wild orchids that grow at the distillery.
Three Jesmonite petals envelop the decanter like a closed bud, protecting the whisky within. There is a rotating aluminium mechanism that can be rotated so that the petals unfurl, mimicking the movement of a flower in bloom.
Involving the buyer of the whisky in its future value adds a certain profundity and artistic value to the release, making it more than a mere transaction, the brand says.
“Art is more than aesthetics; it’s the expression of ideas. Whisky, too, can draw from artistic practice to resonate on a human level, without claiming to be art itself,” Stone says.

Fowle, on the other hand, says it is still what is inside the bottle that counts.
“I think that producers and collectors alike mustn’t put presentation before liquid – the age, quality, and rarity of the liquid in the bottle should define the extent to which it is presented,” he says.
Only five bottles of The Glenrothes 51 were allocated for the Hong Kong market, each with a HK$363,000 (US$46,200) price tag.
Choosing not to break open the Jesmonite column will make the whisky impossible to appraise in the future, as auction houses will not be able to evaluate the liquid inside.
“At Sotheby’s, we’re very cautious when it comes to authentication. However, we are also realistic about what is possible,” Fowle says.
“Without opening the bottle and tasting the liquid, it is very hard to say with 100 per cent certainty. We look for discrepancies in the printing, capsule colours, glass shapes and codes, and importer information; there are hundreds of potential red flags to look out for.
“One key test I do with every single bottle of whisky I have ever handled is to shake it – does the liquid behave as it should? Is the alcohol above 50 per cent and therefore form a foam after shaking? Is it below 50 per cent, and do the bubbles I create dissipate quickly?
“The liquid is always the key indicator as to any authenticity or otherwise.”
However, Stone feels that is not the point of the release.
“The Glenrothes 51 is for the kind of collector who craves rarity with meaning – someone who’s not simply chasing assets but, rather, seeking a singular experience,” she says.
“This is a whisky to be engaged with, not just admired: a piece that invites interaction, reflection and even celebration.”


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Jonny Fowle, Sotheby’s global head of spirits, holds a bottle of The Macallan 1926, the world’s most expensive whisky. Photo: Sotheby’s

Buyers of The Glenrothes 51 can choose to smash the Jesmonite column the whisky is encased in. Photo: The Glenrothes

The Glenrothes 51 in its intact jesmonite column packaging (left) next to a column repaired using the kintsugi method. Photo: The Glenrothes

Anna Lisa Stone is creative director at The Glenrothes. Photo: The Glenrothes

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Food & Drink

Whisky makers like Macallan and Glenrothes are working with artists and architects on innovative packaging that’s proving a hit with buyers


Whisky makers like Macallan and Glenrothes are working with artists and architects on innovative packaging that’s proving a hit with buyers.


How a rare whisky’s box can bump its value, and the makers getting creative

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Whisky makers like Macallan and Glenrothes are working with artists and architects on innovative packaging that’s proving a hit with buyers

Whisky makers like Macallan and Glenrothes are working with artists and architects on innovative packaging that’s proving a hit with buyers