03/26/2014 02:00 pm ET

The Most Expensive Wine Is Often Far From The Best

When it comes to wine, how much do you really know? If you think the most expensive wine is also always the best wine, the good news is: you're wrong! While a high price tag often indicates quality, when it comes to the fermented grape, there are a ton of factors involved in a bottle's retail cost. Some wines are more costly because the producers only make a small quantity per year. The law of supply and demand is clear here: when there's less of something and a great demand for it, it probably won't be cheap. Other wines are expensive because of the name attached to them. The wine world, unfortunately, is not without its cliques and status-conscious producers. But just because some wine magazine or Web site declares that the $3000 bottle of 1992 Romanée Conti Burgundy is delicious, it doesn't mean you should run out and buy it for your date night dinner. Unless you have a disposable income--or a Masters Sommelier diploma--there's no need to splurge on an everyday bottle.