HONG KONG — A 72-year-old bottle of Glen Grant single malt whisky from Scotland is expected to fetch more than $38,000 in an auction in Hong Kong on Friday.

It is the first time that the 1948 Glen Grant whisky, by independent bottler Gordon & MacPhail, is being offered in an auction. It is number 88 of 290 decanters bottled by the company, and will be auctioned off by Bonhams with a book estimate of 300,000 to 380,000 Hong Kong dollars ($38,000 to $49,000).

Despite the economic uncertainty brought by the pandemic, interest in rare whiskies remains high. Compared to other investment commodities, collectable whisky has done well in the past 10 years with a four-fold increase in prices, said Christopher Pong, wine and whisky specialist at Bonhams.

"We have seen huge interest from all over the world, especially from young collectors," Pong said.

He said the Glen Grant whisky being auctioned is the oldest from the distillery. It comes in a Dartington crystal decanter with an American black walnut presentation box. 

Other whiskies featured in Friday's auction include a 50-year-old Macallan Lalique, which is expected to sell for as much as 950,000 Hong Kong dollars ($122,500), and a 35-year-old Hibiki whisky from Japan in a Kutani ceramic decanter that is estimated to bring as much as 260,000 Hong Kong dollars ($33,500).

Bonhams expects to fetch about 10 million Hong Kong dollars ($1.3 million) in the auction.