Today marks the 500th cocktail added to our Cocktail Recipe Guide! You'll find many of the classic cocktails you're most familiar with, as well as new and exciting recipes produced by the leading mixologists from around the world. Using fresh ingredients, try these recipes to prepare delicious cocktails every time, whatever the occasion.

Erik Lorincz, a Slovakian bartender based in London, won this year's Best Bartender award representing the UK in the World Class 2010, "the Oscars of bartending" organised by Diageo Reserve. The senior mixologist at The Connaught Bar in Mayfair will now compete against 12 other finalists in Athens next month.

Despite the current economic turmoil, some people still have plenty of money to splash out. Recently, we reported on a Russian billionaire and a $76k bottle of champagne. You might think that's a lot, but it pales in comparison with some of the cocktails served in some trendy bars and nightclubs. We take a quick look at the most expensive cocktails money can buy, to try to understand how anyone could justify charging such eye-watering prices for a single drink.

Every year, between 80,000 and 120,000 Mint Julep cocktails are served to spectators and participants at the Kentucky Derby race track at Churchill Downs. In fact, ever since 1938, Mint Julep has been considered the traditional drink to enjoy at the Derby. Usually made with just 4 ingredients, this minty Southern cocktail is laced with bourbon and served over crushed ice - the perfect cocktail for a hot May day.

Dom Perignon champagne doesn't come cheap. What's more, trendy London bars have been known to add a high premium on vintage champagne. Even by London standards however, reports that a Russian billionaire spent an eye-watering £50,000 (over $76,000) including tips on a single bottle this week raised eyebrows amidst all the reports of recession in the capital.

Mint Julep is undoubtedly one of the best cocktails if prepared correctly. Grounded in the Deep South, it combines fresh mint with bourbon whiskey and a twist of Angostura bitters. Unfortunately, as with all classic cocktail recipes, over the years it has morphed beyond recognition. Here's a hilarious video attempting to show how to make a Mint Julep that has been doing the rounds since 2006. Whatever you do, please don't learn this recipe!