Unicorn, a Chicago-based online auction platform for wines and spirits founded in 2020, is gaining significant attention for transforming rare whiskey bottles into lucrative investments. The startup has facilitated the auction of over $125 million worth of alcoholic beverages since its inception, attracting a diverse clientele looking to buy, sell, or trade bottles ranging from budget-friendly options to high-end collectibles.

Phil Mikhaylov, the company’s CEO and co-founder, emphasized Unicorn’s unique approach to the spirits market. It caters to both seasoned collectors and novice buyers, providing opportunities to acquire high-value bottles alongside affordable finds. Each week, the platform hosts auctions where thousands of bottles are sold, often turning what may seem like dusty collections into profits measuring in the thousands or even tens of thousands.

Unicorn operates from a large, renovated warehouse in Ravenswood, previously a brewery, where it digitizes, authenticates, and stores auction-ready bottles. The facility features a high-security area, known as the vault, which houses tens of thousands of bottles. This allows the company to manage inventory effectively, with weekly sales generating between $1.2 million and $2 million.

The auction system operates with no set minimum bids and boasts a 100% sell-through rate on many items. Buyers pay a 15% buyer’s premium, and sellers incur a 5% fee. Currently, Unicorn has 75 employees and a second facility in Bridgeport for long-term storage.

The recent visit of Robert Drousth from Wisconsin exemplified the auction’s impact. Drousth, who collected whiskey for years, brought in a collection valued at up to $39,700, far surpassing his initial investment of $1,500. His experience illustrates how collectible spirits can appreciate significantly, sometimes yielding returns of over 2000%.

This rising interest in rare whiskey as an investment mirrors trends seen in other asset classes, with Unicorn serving as a bridge between traditional retail liquor experiences and high-stakes online auction environments. As the demand for rare bottles continues to grow, Unicorn stands poised to capitalize on this expanding market, making it an intriguing player in the world of collectibles.

For more information, you can visit Unicorn’s website.