The price of a bottle of Scotch is in mostly a reflection of the cost of producing that bottle.  Basics like grain, water, barrels, stills, mash tuns, are all common factors that affect every Scotch produced. If all Scotch were produced the same, they would all be about the same cost.  So why is there such a wide variation in price?  Let's look at the other factors that affect the price.  The amount of Scotch that can be produced affects the price.  If base costs are the same and you can produce more Scotch in one Distillery than another, your cost per bottle is less with more production.  The decision to use a Sherry Barrel instead of American White Oak has a cost. How old is the Scotch in that bottle?  The older the Scotch the more it costs to produce.  It has to be stored someplace and you lose two to three percent per year to evaporation (In Scotland this is called the Angel's share).  If that Scotch is ten years old then you have given twenty to thirty percent to the angels. That really starts reducing your available Scotch for that twenty-five or fifty-year old whisky.  As a basic rule, the older the Scotch the smoother it should be.  Oak barrels are used in Scotland for forty to sixty years.  Barrels that old do not impart a great effect immediately, but over time the influence is greater.  The color of older Scotches tell the tale of the oak influence.  Does that make it a better Scotch than the eight or ten year old Scotch?  That depends on your palate.  It definitely makes it more expensive.  There are great single malts in all price catagories.  Experiment, have some fun, attend a Scotch Tasting or get a few different years, wood finishes and regions together for a side by side tasting.  You'll be amazed at the range of flavors out there.