As a slight aside, why would anyone pay 18k for a bottle of champagne regardless of their wealth.
I know everything’s relative to the amount you earn but I could be a multi millionaire and not a chance in hell I would ever splash that kind of money on a bottle.
Not that i’ll ever get chance to back this up
I can answer that for you. As you may know, I've got very extravagant tastes and frequently spunk good money on expensive wine and food, when there's really no need to. The most I've ever paid for a bottle of wine (in a restaurant) is £90 though. That was a bit of a one-off for a rather fine, Napa valley, Chardonnay. It was from one of the top vineyards in Napa and described as having, " a delicate marzipan note with white flower blossom". Well, you can probably understand why I did it now eh?
The facts are, it was nice, one of the top Chardonnay's I've had, but it wasn't worth that much. Most restaurants mark up their wines by 2 or 3 times what you could buy it for in the shops/online. In this case, it left a nasty taste in my mouth when I found I could buy it online for about half that price. In fact, I did buy some online after that, for half the price, as a special treat. And do you know what? When I was drinking it at home, away from the heady, scenty, lure of the fine Manchester restaurant that we were dining in, it didn't taste any better than some of my cheaper bottles. So there's the first reason people do it - they get a bit carried away by the occasion.
Another reason why people spend that kind of money is because it's an investment. Assuming you don't open it that is. You have to be a bit careful with this because you need to know your vintages and have some idea about remaining quantity levels. If the wine is from a good/classic vintage year and the global supply of it is diminishing, then the price shoots up, and will most likely continue shooting up, because you are paying for the rarity of the wine, not necessarily the quality of it, beyond a certain point. I have never bought wine as an investment. I don't think I could do that because I'd just want to open the bottle and drink it there and then. But some people do.
The other reason why people pay extortionate amounts for wine is because they can afford it and want to show off to the people around them because they think it will impress them. When you go to some expensive restaurant/hotel/resort the prices of the wines are hiked to match the surroundings. The theory being, if someone is daft enough to pay the extortionate hotel prices to stay here, they'll be daft enough to pay way over the top for everything else as well. And it works. The people who are paying this kind of money are taking delight in being able to afford it and may feel it gives them some exclusive knowledge over others, who haven't, and probably never will, try it. What they don't realise is that people don't really care.
I used to do a lot of "entertaining" of professional clients at one time. I used to cringe at the wine list in some London restaurants especially. Even the price of a main course was several hundred pounds in some places we went. I remember meeting a client in one such place in the West End. He'd suggested this restaurant, which made me nervous for a start! He's looking down the menu and points out one dish at £345. I just told him - "sorry, it's off". But escaping from many London restaurants with a bill much less than £200 a head, if you go for 2/3 courses and a bottle of house wine, was not easy. And that's the other factor - it depends on where you are.
I'm not sure that the genuine multi-millionaires, especially those who have built up their wealth, rather than inherited it, would rush to spend £18k on a bottle of champagne. They tend to have got that kind of money because they've been smart with it. But the new money brigade and the wannabee millionaires is probably a different story.