The bottle of Russo-Baltique - the only one in the world - which was stolen from Cafe 33 bar in Copenhagen is priced at £960,000 and was on loan from a Russian businessman.
It was decorated with 6.6lbs of gold, 6.6lbs of silver and a diamond-encrusted cap and was designed to look like a vintage car front.
The bar's owner Brian Ingberg has offered a reward for anyone who can help find the perpetrators, who were caught on CCTV.
Both were wearing baseball caps and gloves while one wore a hooded top and the other a sweatshirt.
The two men pulled their clothing over their faces in order to avoid being identified.
Police investigator Knud Hvass said it is too early to say whether the perpetrator had broken in or used a key and to add to the investigation - nothing else was stolen.
Cafe 33 owner Brian Ingberg has 1,200 vodka bottles at his bar.
Mr Ingberg said the bottle was uninsured and on loan from the Russian.
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