It’s ‘the Whisky Olympics’—Ultra-Rare and One-off Bottles Head to Auction at Sotheby’s

An ultra-rare whisky auction, known as the Distillers One of One, has announced its second edition will take place next month at Hopetoun House on the outskirts of Edinburgh, Scotland.

In partnership with Sotheby’s, the auction brings together a collection of one-off Scotch whiskies specially created and donated by leading distilleries across Scotland.

Headlining the sale is the highest valued lot, Bowmore STAC 55 Years Old, the oldest whisky the island distillery’s ever produced. It’s housed in a 1.5-litre hand-blown glass vessel that pays homage to Bowmore’s home on the island of Islay. The lot is estimated to sell for between £300,000 and £500,000 (roughly between US$371,900 and US$619,770).

The auction “represents all of the best elements of this industry: the community spirit, the rarity of the liquid, the creativity of the presentation, and, above all, the charitable nature,” says Jonny Fowle, global head of spirits at Sotheby’s.

Headlining the sale is the highest valued lot, Bowmore STAC 55 Years Old,.
Courtesy of Sotheby’s

Also of note is the 50-year-old Brora Iris (with an estimate between £200,000 and £400,000), the oldest Brora single malt that has ever been bottled and one that will never be made commercially available. The liquid is presented in a 1.5-litre decanter that’s suspended within a handcrafted stone sculpture. The bottle was designed to represent the eye of a Scottish Wildcat, the highly elusive native of the Scottish Highlands that is the emblem of the distillery.

Proceeds of the auction will be donated to the Distillers’ Charity, principally to the Youth Action Fund, which aims to improve the lives of disadvantaged young people in Scotch whisky-making communities.

The first Distillers One of One was held at Barnbougle Castle, also near Edinburgh, in December 2021. That auction featured more than 39 lots and achieved record-breaking hammer prices, with more than £2.4 million donated to The Distillers’ Charity.

“The success of the first auction was tremendous—the vision and work put in by the Distillers’ Charity supported by the contributions from the Scotch whisky industry has established a new force in Scotland to back our young people in extremely difficult times,” John Swinney, former deputy first minister of Scotland, said in the catalog notes.

Scheduled for Oct. 5, the auction—a ticketed event for which all attendees must be registered—will feature 39 lots with estimates ranging from £2,000 to £500,000. Collectors can place online bids in advance; a selection of lots is currently on view in Sotheby’s New Bond Street galleries in London through Sept. 20.

The entire operation is dependent on the generosity of some of the most revered brands in the field, with producers both new and old presenting exceptional whiskies, all in the name of charity. In addition to the rare bottles, casks and experiences donated for sale, the brands also provide support to make the event possible.

The Visionary (which has an estimate between £50,000 and £90,000), is a single malt that has been aged 68 years.
Courtesy of Sotheby’s

Other offerings at the sale include the Visionary (with an estimate between £50,000 and £90,000), a single malt that has been aged 68 years, making it one of the oldest whiskies to be released by Speyside’s historic Glen Grant Distillery.

Another unique item for sale is the Gordon & MacPhail Recollection Showcase (with an estimate between £80,000 and £160,000). Housed in a handcrafted cabinet made of elm and oak, the offering features five engraved Glencairn decanters. Each contains a one-off 70-cl single malt from five distilleries that have been lost or silent for decades.

“A wiser man than me described this as being ‘the whisky olympics,’ Fowle says. “I cannot wait to be on the rostrum for this auction and see how we can develop this project into 2025.”

Gold is one of the market’s go-to hedges in rocky times. Don’t forget that gold miners’ stocks are too.

The stock market’s gains in 2026 belie the rocky macroeconomic picture: elevated inflation, heightened geopolitical tensions, and jitters about the artificial-intelligence trade. That backdrop, in theory, should be the time for gold to shine. Instead, the price of the yellow metal has tumbled more than 5% so far, after last year’s blistering 65% rally. In part, the U.S. dollar’s recovery has stymied gold, which benefited from the greenback’s weakness in 2025.

Even with the precious metal’s recent weakness, gold mining stocks could be the best way to profit from this year’s uncertainty.

Gold miners “are a valuable hedge against macro risks that would likely be damaging for equities,” BCA Research’s Noah Weisberger and Rishabh Shah wrote this week.

Concerns about the Federal Reserve’s next moves to tackle inflation, the increasingly crowded AI trade, and steep valuations for tech stocks are just some of the drivers that could help gold’s price get on even footing— and lead to even bigger gains for miner stocks.

These stocks’ prices tend to outpace gold’s moves, because the companies have fixed operational costs. So when gold’s price rallies, their profit margins soar, and vice versa. For instance, the VanEck Gold Miners GDX +7.39% exchange-traded fund has fallen 11% this year as the metal has slumped.

Now, gold’s price just needs to stabilize to help miners’ stocks take off, and that seems to be happening. The precious metal has recently found support above the $4,000 level, and has stuck in a narrow range since the end of June. But its price rose ever so slightly in July, ending a four-month losing streak for the metal. Technical analysis also suggests that gold is due for a comeback.

Barron’s recently wrote that the pullbacks for both gold miners and the metal itself are overdone. Senior technical analyst Doug Busch noted that the VanEck ETF is on the “verge of a breakout” and has the potential to hit $11o in early 2027, up more than 40% from its current price.

Gold miners also have more than their role as a market hedge going for them. Their fundamentals are solid, too, says Chris Mancini, portfolio co-manager of the Gabelli Gold Fund.

“Precious metals miners are generating substantial amounts of free cash flow given profit margins of over $2,000 per ounce, and are returning this cash to shareholders through buybacks and dividends,” he said in an email.

“Buying the miners is a cheap way to get exposure to the price of gold,” he added. His fund owns Newmont NEM +6.71%, a Barron’s stock pick last year, and Agnico Eagle Mines as top holdings, as well as miners Northern Star Resources, Endeavour Mining, and Kinross Gold K+8.59%.

Miners are better businesses than they used to be, the BCA team added.

“Capex is more disciplined, margins are high and rising…and they are largely independent of the AI story,” Weisberger, BCA’s head of equities, and Shah, a senior analyst, wrote.

That last part is key. AI is disrupting the software industry and many other services and information-oriented businesses, and investors have piled into AI stocks. But ChatGPT, Claude, Grok, and other large-language models aren’t going to replace the need to mine for metals.

“Equity portfolios can benefit from exposure to quality that is uncorrelated to AI risk, and gold miners fit the bill,” the BCA team said.

They recommend that investors buy the VanEck Gold Miners ETF, which owns top miners such as Agnico, Barrick Mining ABX +7.24%, and Newmont.

An important bonus for big gold miners’ stocks is that their valuations are attractive after the gold’s pullback, too. The VanEck ETF is now trading at just a little more than nine times next year’s earnings estimates. That’s a big discount to its five-year average price-to-earnings ratio of 14, according to FactSet.

What’s more, the ETF is currently valued at a more than 50% discount to the S&P 500 SPX -0.17%, which is trading for about 19 times earnings estimates for 2027. Mining stocks have typically traded at just a 25% discount to the broader market over the past five years. So there is significant upside for the group if valuations move back toward normal levels.

One factor that complicates mining stocks as a market hedge, of course, is if stocks bounce back, which has been the case so far in August.

But both the market and economic outlooks remain cloudy, and investors remain nervous about the Fed’s next moves and AI stocks. Gold miners should do just fine, even if the anxious mood on Wall Street persists.