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The high-end whiskey market continues to reach astronomical heights. You only need to look to bottles of Pappy Van Winkle to see the growing trend. Typically it’s no surprise when a bottle of Pappy’s can sell for thousands of dollars. But a bottle selling for $52k? That is sure to turn some heads.

This particular bottle of Pappy’s 23-Year bourbon just sold at auction for a jaw-dropping $52,500 after a bidding war broke out at Sotheby’s auction house in New York. Especially when considering that a bottle of Old Rip Van Winkle 25 Year, the oldest release ever from the distillery, sold last summer for just over $40k. What’s more, the pre-auction estimates only had this bottle at a final sale price of $3,000-$4,000. As enthusiasm around rare whiskey and bourbon continues to rise, you’ll likely see more and more speculative purchases over the next few years.

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