Liquid gold? Irish and Japanese whisky prices skyrocket at february auctions

The international whisky market showed once again in February 2026 just how dynamic the secondary market can be. Some well-known Scotch brands slipped in value, while Irish and Japanese whiskies shot through the roof. What’s liquid gold and what isn’t?

During February’s auctions, nearly 27,000 bottles changed hands, yet a large number still went unsold. No less than 8 percent of all auctions closed without a single sale, largely because reserve prices weren’t met.

Among the bottles that did sell, WhiskyStats’ auction data reveals a striking shift. The numbers show that Irish and Japanese whiskies were especially in demand over the past month.

While Irish and Japanese whisky clearly lagged behind Scotch in January, February flipped the script. The 500 most-traded Scotch whiskies collectively shed more than 1 percent of their value on the auction market.

At the same time, prices for both Irish and Japanese whiskies went through the roof, climbing 14%. For Irish whiskey, that’s the biggest monthly jump since October 2021. For Japanese whisky, you have to go back to March 2015 to find a comparable leap.

One reason behind the surge is a legendary Japanese bottling. The iconic Karuizawa Geisha Label 1983 #8606 sold for nearly 6,000 euros: an enormous leap compared to roughly six months ago, when the bottle was valued just over 3,000 euros.

Other Japanese whiskies also posted sharp gains. The Karuizawa 42 Year Old Vintage 1969 fetched 7,631 euros, while the same bottle was auctioned around €5,600 in January.

The Hanyu label was the standout, indeed the absolute standout, soaring more than 15% in a single month.

On the Irish side, it was the iconic releases that pushed the index higher, with Midleton Very Rare 1984 playing a key role.

The whiskey had shed significant value recently, even dipping below 1,000 euros at some auctions. In a recent sale, however, it staged a dramatic rebound: the bottle hammered for nearly 2,500 euros.

Not every brand benefited from the market. Two major Scotch names that posted strong gains in January had to take a step back in February: Rosebank and The Macallan.

Rosebank lost about 5 percent of its auction value in February, while The Macallan dropped by more than 6 percent.

These figures, both the risers and the fallers, are only a snapshot of a turbulent market. Whisky prices on the secondary market are swinging wildly at the moment.

It remains to be seen what the coming period will bring for Scotch, Irish, and Japan’s divine dram.