The Henri IV Dudognon Heritage cognac is the most expensive cognac in the world. This liquor has been produced since 1776 and is aged in barrels for more than 100 years. The cognac is then put in a bejeweled bottle which is dipped in 24 karat gold and sterling platinum and decorated with 6,500 brilliant cut diamonds. The Henri IV Dudognon Heritage is priced at $1,982,300 per bottle.