Abstract: An aerator for fluids, such as wine, includes an upper bowl portion with a set of openings in the base, a restrictor plate with, in the preferred embodiment, three sets of apertures. Each of the restrictor plate aperture sets can be aligned with the bowl openings to provide three different flow rates. A collar portion selects the aperture set to be aligned and includes vents to permit air into a central flow path wherein the wine is aerated as it flows through the collar portion.