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Christie's to Hold First Liquor Auction Since Prohibition

CNBC.com
Wednesday, 5 Dec 2007 | 2:54 PM ET

Christie's auction house will hold the first liquor auction since Prohibition this weekend in New York, with some rare whiskies expected to fetch up to $30,000 a bottle.

Christie's vice president Richard Brierly visited CNBC Wednesday to show off some of the premium liquors that will be on the auction block.

Christie's Liquor Auction
The first liquor auction since prohibition happens at Chistie's this weekend, with Richard Brierley, Christie's and CNBC's Michelle Caruso Cabrera

Though Prohibition ended 75 years ago, a lot of the era's laws stayed on the books. This past summer the legal situation changed in New York, enabling auction houses to sell items like whiskey and cognac.

A single bottle of MacAllan Scotch, distilled in 1926 and aged 60 years before being bottled, is expected to bring as much as $30,000 at auction. Why?

"Low production, one single cask, rarity," Brierly said during the CNBC interview. "Patience costs money."

A bottle of what's called "George Washington's whisky" is expected to draw a final bid of between $10,000 and $20,000.

"Produced in 2002, but following the exact recipe of George Washington -- using modern-day techniques, yes, but with a nod to the Old World style," explained Brierly.

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