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Hovig Tchalian, Assistant Professor of Entrepreneurship, University of Southern California

A bottle of scotch recently sold for $2.7 million – what's behind such outrageous prices?

United States Ardbeg
In November 2023, a bottle of Macallan Scotch whisky fetched the highest price of all time for a bottle of wine or spirits. Wiktor Szymanowicz/Future Publishing via Getty Images

When a rare bottle of Scotch whisky sold for US$2.7 million in November 2023, I was stunned, but I wasn’t surprised.

The whiskey market has been booming for some time.

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