In a large saucepan over medium heat, melt 2 tbsp butter; add onion, celery, carrot, leek, parsley, bay leaf, salt, pepper, tarragon, paprika and cayenne. Sautee for about 10-12 minutes, until veggies are tender, stirring often.
Add the wine and scrape up the pan juices. Simmer until reduced by half, about 8 to 10 minutes.
Stir in the scallops; cook for about 5 minutes or until the scallops are opaque.
Add the milk and cream, cook for another 3-5 minutes or until heated through.