To test the question I sat down with some beer folk to taste five of the most expensive beers produced in Australia and find out exactly what you get from these pricey brews. The packaging is pretty, but it's what's inside the bottle that counts. The beers Kaiju! Beer, VIC: Where Strides the Behemoth (10.8% alcohol by volume, 500ml serve, approx $20-23 per serve, depending on retailer) Moon Dog Brewing, VIC: Jumping the Shark 2014 (14.1% ABV, 375ml, approx $23-30)

Murray's Craft Brewing Co, NSW: Anniversary Ale 8 (10.0% ABV, 750ml, approx $45) Nail Brewing, WA: Clout Stout (10.8% ABV, 750ml, approx $69-75) Carlton & United Breweries, VIC: Crown Ambassador 2012 (10.2% ABV, 750ml, approx $90-100) The taste test We start with the elephant in the room, the highly pricey Crown Ambassador. The bottle and packaging is something to behold, but it's the liquid we're excited to interrogate. Kaiju! Beer brewer and self-described "chief boss" Callum Reeves enjoyed the Ambassador's "toffee and caramel" notes and says the beer is well balanced and perfect for sharing with beer nerds and novices alike. Evin Craney, beer consultant for Heron Tower Beverages, isn't convinced that a lager in the style of the Ambassador is ideal for ageing, as is suggested. But everyone agrees that Australia's most expensive beer is a well designed and tasty experience.

Next up is Murray's Anniversary Ale 8, a barley wine that, like the Ambassador, has spent time maturing in oak barrels, and can be cellared and bottle-aged for up to 10 years to further develop flavour and depth. Julie Maria Christensen from Northdown Craft Beer Movement finds citrus, toffee and a pronounced bitter, caramel finish. But others wanted a bit more from the mid-palate and it is suggested that more time ageing in the bottle would improve this already delicious beer. The Murray's is followed by Moon Dog's Jumping the Shark 2014. Moon Dog is renowned for producing challenging beers, and this imperial red ale, spiced with saffron and aged in Hungarian oak barrels, doesn't disappoint. "Wow!" was the general exclamation as noses approached the glass. "It attacks you straight away," Craney says. The beer displays flavours as varied as honey, saffron, macadamia, and even Vegemite. Kaiju! Beer's Where Strides the Behemoth challenges tastebuds even further. Roasted coffee, dark chocolate and an enormous hop bitterness lead Reeves, its brewer, to remind us that the beer is intended to be an assault on the palate. "But we still want all of our beers to have balance. It's just that our version of balance is mainly a bit more hoppy than others," he says. After our palates recover from the Kaiju!, it's time to try Nail Brewing's Clout Stout. Not only is this Russian imperial stout Australia's most expensive craft beer, but Nail also lays claim to creating the world's most expensive beer. One bottle of its Antarctic Nail Ale, brewed with water melted from Antarctic ice, fetched a cool $1850, with the proceeds donated to charity. The Clout Stout is a velvety conclusion to the tasting. Christensen reports "a hint of soy sauce", and others find rich chocolate across the palate, a subtle hop aroma and what we all agree is a thick and lingering finish.

All aboard Is it crazy to spend between $20 and $100 on a single beer? Justin Joiner, the venue manager at Melbourne's The Local Taphouse, one of Australia's leading beer establishments, says a mental shift is needed when it comes to beers of this ilk. "People need to understand that they're often getting a 750ml bottle of beer at 8 or 10 per cent ABV, and that these beers have been made with the same amount of love, care and craft of a great wine. In the end, the price is going to reflect that," he says. And, like all great wines, these beers are perfect to share with a group or to pair with food. Reeves asserts his Where Strides the Behemouth will pair perfectly with "ice cream, or other rich desserts, with maybe three or four people to share". Beers of such quality and concentration are often brewed in very small quantities, which also influences the price. This also allows brewers to get creative. Jaideep Chandrasekharan, the head brewer at Carlton & United Breweries, says: "Beers like the Crown Ambassador give our brewers the opportunity to experiment across a range of styles."

As different styles of beer grow in popularity, even larger breweries such as CUB are entering the game at the very top end. "We've just recently done some internal testing on a combination of a stout and a barrel-aged barley wine that's been stored in bourbon barrels. So we do see an opportunity for us to experiment and push the boundaries in terms of what we can offer consumers, and that's something we are certainly looking to do more of in the future." Small craft breweries paved the way for this change and deserve plenty of kudos – and support. But when the big boys talk like this, the future of beer looks tastier than ever. How much do you spend on craft beer, and what's your favourite? Would you be tempted to spend more for a special experience? Follow Luke McCarthy