Macallan 1938 - 31 Year Old - Fine & Rare: Explore Auction Sales Data & Price Trends

The Macallan 1938, aged 31 years, is part of the Fine & Rare series and is a notable vintage single malt whisky. Distilled in 1938 and bottled in 1969, this whisky was re-bottled in 2002 by the Macallan distillery, as indicated on the label. The re-bottling process was done by hand, ensuring the preservation of its quality. A limited release of 198 bottles makes this a scarce item for collectors and investors.


Age: 31 Years Old Size: 700 ml Strength: 43.0 % Bottling series: Fine and Rare Distillery: Macallan Bottler: Distillery Bottling
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Recent Market Insights for Macallan 1938 - 31 Year Old - Fine & Rare
Latest Average Price

£ Unlock in December 2025

The average hammer price of the bottle based on recent auction results.
Annualized Return

Unlock% since its first sale in 2017

The average yearly change in the bottle's value since its first recorded sale.
Liquidity Score

Unlock% derived from 18 auctioned bottles

Indicates the probable chance of selling the bottle near its average market price, without guarantee.
Sales Summary
Statistics on auction sales and prices over time

This calculation includes all Macallan 1938 31 Year Old Fine & Rare from all auctions during the entire observation period.

First avg.

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 June 2017 
Value Change
Last avg.

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 December 2025 
Minimum

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 September 2019 
Maximum

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 October 2020 
Auction sales and price statistics for the past 3 months
Auction sales and price statistics for the past 6 months
Auction sales and price statistics for the past 12 months
Auction sales and price statistics by year, cumulative total 2017-2025

This table shows the information for each year in which this whisky was sold at auctions, compared to the previous year and cumulatively over time.

Sold Ratio - ratio of lots sold to lots unsold.
Avg. Price - average hammer price for the year.
Vs Previous - the current year's price change compared to the previous year's, as a percentage.
Cumulative - the cumulative total of the current year's price change relative to the first year's sales.
Year Sold Unsold Sold Ratio Avg. Price Vs Previous Cumulative
2017 % £    %   %
2019 % £    %   %
2020 % £    %   %
2021 % £    %   %
2022 % £    %   %
2023 % £    %   %
2025 % £    %   %
Responsive image

The graph shows the sales history for Macallan 1938 - 31 Year Old - Fine & Rare at all auctions from the very first to the last one. The graph is interactive - it can be zoomed in to view the data for any period.

Past: Recent Results

Do you want to know how much Macallan 1938 - 31 Year Old - Fine & Rare - 700 ml / 43% worth? One way to do so is by checking the prices at which similar bottles were sold at auctions. The auction price is typically the best indicator of the whisky's actual value.

When you look at all the results, similar bottles may appear.

The data for the last 15 months are hidden. Please subscribe to remove restrictions.

Date Bottle Winning Bid
September 2023 The Macallan Fine & Rare 31 Year Old 43.0 ABV 1938 - 75cl PAST Sotheby's Whisky Auction USA 16127.4 £
July 2023 Macallan 1938 Fine and Rare 31 Year Old PAST Whisky Auctioneer UK 21000.0 £
May 2023 The Macallan Fine & Rare 31 Year Old 43.0 ABV 1938 - 70cl PAST Sotheby's Whisky Auction USA 21068.7 £
May 2023 The Macallan Fine & Rare 31 Year Old 43.0 ABV 1938 - 70cl PAST Sotheby's Whisky Auction USA 19448.1 £
May 2023 The Macallan Fine & Rare 31 Year Old 43.0 ABV 1938 - 70cl PAST Sotheby's Whisky Auction USA Reserve Not Met -
September 2022 The Macallan Fine & Rare 31 Year Old 43.0 ABV 1938 - 75cl PAST Sotheby's Whisky Auction USA 26057.8 £
April 2021 The Macallan Fine & Rare 31 Year Old 43.0 ABV 1938 - 70cl PAST Sotheby's Whisky Auction Asia 20446.1 £
February 2021 The Macallan Fine & Rare 31 Year Old 43.0 ABV 1938 PAST Sotheby's Whisky Auction UK 24000.0 £
January 2021 Macallan 1938 Fine and Rare 31 Year Old PAST Whisky Auctioneer N/A Reserve Not Met -
October 2020 The Macallan Fine & Rare 31 Year Old 43.0 ABV 1938 PAST Sotheby's Whisky Auction UK 30000.0 £
Fine and Rare series:
Macallan 1951 - 51 Year Old - Cask no. 644 - Fine & Rare
Macallan 1951 - 51 Year Old - Cask no. 644 - Fine & Rare - 700 ml / 52.3%
%
 since March 2015*
% £
 avg. price in 2024**
  %
 avg. annual shift 2015-2024 **
Minimum subscription tier to unlock: * - Quarter, ** - Hogshead
Macallan 1993 - 27 Year Old - Cask no. 3939 - Fine & Rare
Macallan 1993 - 27 Year Old - Cask no. 3939 - Fine & Rare - 700 ml / 50.2%
%
 since March 2022*
% £
 avg. price in 2025**
  %
 avg. annual shift 2022-2025 **
Minimum subscription tier to unlock: * - Quarter, ** - Hogshead
Macallan 1976 - 29 Year Old - Cask no. 11354 - Fine & Rare
Macallan 1976 - 29 Year Old - Cask no. 11354 - Fine & Rare - 700 ml / 45.5%
%
 since Feb. 2015*
% £
 avg. price in 2025**
  %
 avg. annual shift 2015-2025 **
Minimum subscription tier to unlock: * - Quarter, ** - Hogshead
Macallan 1940 - 37 Years Old - Fine & Rare
Macallan 1940 - 37 Years Old - Fine & Rare - 700 ml / 43%
%
 since Oct. 2017*
% £
 avg. price in 2021**
  %
 avg. annual shift 2017-2021 **
Minimum subscription tier to unlock: * - Quarter, ** - Hogshead
Macallan 1949 - 52 Year Old - Cask no. 935 - Fine & Rare
Macallan 1949 - 52 Year Old - Cask no. 935 - Fine & Rare - 750 ml / 41.1%
%
 since Aug. 2018*
% £
 avg. price in 2025**
  %
 avg. annual shift 2018-2025 **
Minimum subscription tier to unlock: * - Quarter, ** - Hogshead

Updated: 2026-06-23