How to Buy Good Inexpensive Wine

Expect to pay a little more for a good lower-priced bottle of red than you will for white.

Price doesn't necessarily indicate how good a wine will taste, although there are studies that show you might enjoy a higher-priced wine more. For example, in a blind test conducted at the 2011 Edinburgh International Science Festival, only 50 percent of the 570 test participants could correctly identify which wines were expensive, going for around $50 a bottle, and which were budget wines, priced at about $6.

In 2008, Dr. Antonio Rangel of the California Institute of Technology published the results of a study in which volunteers tasted a $90 bottle of wine and some less expensive wines. They loved the $90 wine! However, when they sampled the same wine believing it cost only $10, their enjoyment level dropped.

In general, you can get a nice, oak-free white wine for $6 to $21 on the lower end. You'll pay a little more for an average red -- about $10 to $35, due to the more expensive grapes and additional equipment needed for aging.

Read on for some tips on how to find a wine that fits your palate and your pocketbook.