The Economics of Desire: Inside Wine Auctions with Amayès Aouli

Why - and how- did wine become collectible?

Pauline Vicard speaks with Amayés Aouli, Global Head of Wine & Spirits at Bonhams, one of the world’s oldest auction houses. Together, they explore the often-misunderstood world of wine auctions, beyond the spectacle of paddles and hammer prices. The discussion reveals how auctions translate desire into value, navigating scarcity, logistics, trust, and global demand. A conversation that offers a deeper lens on the fine wine ecosystem—and where it is heading.

In this conversation:

• What auctions actually do—and why they exist

• How wine became a collectible asset (only recently)

• The role of knowledge in shaping demand and price

• What auctions reveal about the future of fine wine

To know more about Bonhams Wine: https://www.bonhams.com/department/WIN/wine/

To know more about Areni's latest research: The New Fine Wine Consumer: How Under 40 Find Their Way Into Fine Wine: https://areni.global/report/the-new-fine-wine-customer/