Is this the world's most expensive cocktail?

The world's most expensive cocktail has gone on sale in London - costing the same as a new family car at nearly £9,000.

The 'Gigi's', pronounced "gee-gees", is aimed squarely at the fabulously rich of Mayfair, where property regularly fetches over £40m. It is made with a vintage Champagne and an ultra-rare Armagnac that pre-dates the Boer War with the result described as 'liquid gold' and will set you back £8,888 - equivalent to a brand new Mitsubishi Mirage, a Rolex Submariner, or renting a private jet to fly a family of five to the Mediterranean and back.

The makers claim the Gigi's tops the world's most expensive tipples - beating Melbourne's £8,167 'Winston' into second place. It was created for actress Grace Jones at the star-studded opening of Gigi's restaurant in Mayfair yesterday which the 007 star attended with pal Boy George.

Restaurant manager Cesare Papagna said he wanted to give the iconic film star something "truly special" to mark the occasion and used two of his most expensive drinks.The Gigi's has the appearance of a traditional Champagne Cocktail which usually includes bubbly laced with cognac and bitters.But unlike them it is made with a bottle of 1990 Vintage Cristal and a bottle of 1888 Samalens Vieille Relique Vintage Bas Armagnac.It also has "lashings" of gold leaf to give it extra bling. Only the Angostura Bitters and sugar are bought 'off the shelf'.

The cocktail's hefty price tag includes the market value of each full bottle of alcohol, which will produce approximately 12 flute servings worth £708 per glass - or about £177 per glug based on four large mouthfuls.

Cesare said: "We did not set out to create a cocktail for the fabulously rich but rather to give Ms Jones something memorable to thank her for coming.The taste was magnificent, as you would imagine."

He said the Gigi's - described as tasting 'like liquid gold' - will not be added to the restaurant's drinks menu but will be available to other "discerning" guests from today.

He added: "The Gigi's isn't the kind of cocktail that you display on a blackboard - if you have to ask the price, you won't be able to afford it."