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Nick Pegna
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Oct 5, 2026
Ep 277 - Why Are Some Wines Worth Millions? Inside Sotheby’s Wine Auctions with Nick Pegna
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38:44Nick PegnaGUEST
So barrels of wine were being sold, and, and the trade of wine was, was often done after it had been produced, and that's where the origin of the secondary market comes from.
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38:54Nick PegnaGUEST
So when we look at it as auction, at, at auction, we're selling wines that have been bought by individuals, sometimes still at the estate, not owned by the individuals in that instance, but, but owned by the estate.
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39:10Nick PegnaGUEST
And why auction, you might wonder? Well, auction is a really good way of defining what a market price is, uh, because the house never owns the wines or the spirits, but we simply act as a bridge in between the two.
10 MINS LATER
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49:09Janina DoréHOST
I want to know maybe your predictions, uh, perhaps what you think will be the biggest shift in the fine wine world over the next five to 10 years.