Scarcity? That’s what people are paying for it in the secondary market. If only 500 bottles were made in 1990, some people will have bought and drank theirs. So let’s say now there’s only 250. Having 1/250 makes it much rarer, and whiskey connoisseurs would want it.

My girlfriends’ dad has a bottle of Balvenie. Don’t think it’s this one. But he bought it for like $100 while on vacation mainly because it came in a cardboard tube. Never opened it. Now it’s worth like $12k.