Near the upper echelons of Sazerac’s spirits portfolio sits The Last Drop, a boutique bottler of “the world’s most remarkable spirits.” Over the years, The Last Drop’s releases have featured Scotch, bourbon, Irish whiskey, blended whisky, Armagnac, Cognac, rum, and more, virtually all of which boast remarkable age statements and rarities.

While The Last Drop started as an independent bottler, Sazerac acquired the brand in 2016. Since then, releases (at a cadence of around three per year) have still featured spirits from a broad swath of producers. For American whiskey fans, however, access to exceptionally rare stocks from Sazerac — and more specifically Buffalo Trace — have resulted in a number of releases likely off limits to any other brand.

For 2025, The Last Drop is rolling out a trio of new bottles, the first of which features one of the oldest-ever bourbons from Buffalo Trace. The Last Drop Release No. 37 is a 27 year old Kentucky straight bourbon whiskey, bottled at a cask strength 121.8 proof. The bourbon is actually a blend of three casks distilled in 1995, 1996, and 1997. The barrels were married under the guidance of Master Blender Drew Mayville and Master Distiller Harlen Wheatley.

We don’t have many more details like mashbill and aging environment. We do know the whiskey spent an unspecified amount of time in Warehouse P, one of Buffalo Trace’s advanced aging facilities with intricate climate control capabilities. (The even scarcer Eagle Rare 25 spent years in the same warehouse.) As Buffalo Trace has mentioned in the past, in theory, that environment can modify the maturation process, allowing barrels to age with less tannic influence over time.

Just 508 bottles will be sold worldwide, each with an MSRP of $10,500. And fear not, collectors: like a lot of The Last Drop releases, tasting the liquid doesn’t actually necessitate opening the bottle. Each 700ml bottle comes paired with a 50ml companion, hopefully to encourage folks to actually try their $10,000+ whiskey.

Let’s dive in.

The Last Drop Kentucky Straight Bourbon 27 Years Old Review

Early scents are remarkably restrained for a bourbon with this combination of age and proof, and given just the pedigree it’s easy to expect an oak bomb. Instead, the nose kicks off with a subtle, inviting sweetness that gradually builds from light brown sugar into refined molasses, macadamia honey, and smoked maple syrup. (For a fleeting second, it is reminiscent of baklava.) A semi-earthen, dusty quality underpins the sweet scents, reminiscent of some celebrated vintage bourbons from the ’70s and ’80s; it’s a dash of barrel char, a bit of campfire charcoal, and a sprinkle of decaying wood, all rolled into one nearly ephemeral scent that straddles the line between oak and dewy soil. Another couple minutes in the glass yields amaro-soaked cherries, slivered toasted almonds, and spiced fruitcake. More time yields even more depth, the sign of a bourbon that’s grown incredibly complex with age — remarkably, all without falling victim to the risk of becoming a tannic soup.

The proof shows its stripes by the midpalate, but on the first few sips, it’s almost tough to pick up any ethanol burn. Instead, the heat manifests with a semi-minty effervescence, which quickly reverts to sweet wood sugars and dark pan caramel. By the third or fourth sip, oak takes the wheel as secondary flavors dart between sweet vermouth, cured tobacco, Luxardo cherry syrup, nearly burnt gingerbread, and robust rye spice. In addition to an intensely flavorful midpalate, the bourbon imparts a remarkable amount of influence on the upper palate, evoking continued effervescent character while rich, dark cherry and peppery cola accumulate across the tongue.

The finish steers heavily into cherry cola and vanilla extract, along with a lingering trifecta of sweet, bitter, and tannic that’s like one of the best barrel aged Manhattans you’re likely to encounter. I feel like I could taste this for hours. A good day on the job, by any measure.

121.8 proof.

A+ / $10,500 / sazerac.com

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