A rare bottle of Scotch became the world’s most expensive whisky when it was sold for a record price of £848,750 at auction in Edinburgh.

The 60-year-old bottle of The Macallan Valerio Adami - distilled in 1926 and bottled in 1986 - has been described as the “Holy grail of whisky”.

It set a new world record at the Bonhams’ whisky sale in on Wednesday, fetching £700,000 plus a £148,750 sales premium and is understood to have been bought by a telephone bidder in the Far East.

The seller, a UK-based "whisky connoisseur", was in a taxi in Italy when the hammer came down and was said to be "thrilled".

In May this year another bottle of the renowned dram was sold by the auction house in Hong Kong for £814,000 - the previous record for a bottle of Scotch.

Experts said its value was based on a combination of its rarity, its vintage and its unique artwork.