10/17/2012 04:49 EDT | Updated 12/17/2012 05:12 EST

Ontario liquor board auctions rare bottle of Glenfiddich along with fine wines

TORONTO - A bottle of one of the rarest single malt scotches in the world is going under the gavel this weekend in Toronto, along with plenty of fine and rare wines.

The 55-year-old bottle of Glenfiddich Janet Sheed Roberts Reserve is one of only 11 bottles. Valued at $50,000 to $70,000, it's hoped the bottle will establish a Canadian record for the most expensive bottle of scotch sold when it's auctioned off on Friday night, the Liquor Control Board of Ontario said Wednesday in a release.

More than 1,100 lots of rare wines valued at $2.3 million will also be offered for bidding at the two-day event.

Some options will include an almost unheard of six-litre bottle of 1972 wine from Domaine de la Romanee-Conti, an estate in Burgundy, France, as well as full cases of DRC from 1982 and 1986. Perennial favourites, such as cru classes Bordeaux, will be available, as well as selections of American cult wines, including the largest assortment of Sine Qua Non ever auctioned by the LCBO.

Friday's bidding gets underway at 8 p.m. in the Trump International Hotel and Tower's grand ballroom in Toronto, while the Saturday auction is slated to take place at Waddington's Auction House starting at 10 a.m.

Proceeds will go to Wounded Warriors, a not-for-profit organization that assists and improves the quality of life of wounded Canadian soldiers and their families.

This is the 11th annual auction put on by Vintages, the fine wine and premium spirits division of the Ontario liquor board.

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