For cocktail parties, my first choice is a good Sauvignon Blanc. It's crisp and light, with enough acidity to bring out the flavors in lighter foods, but rounded and rewarding enough to hold its own if you're note eating.

One of my all-time favorites for value is the Dashwood Sauvignon Blanc from New Zealand. This particular wine is a blend of grapes from two valleys: the Wairau, which imparts a fresh, fruity palate, and the Awatere, where the soil is full of minerals like flint and calcium carbonate. The blend of the two makes an exciting taste, with plenty of action on the palate. It's a great buy at $11.99, at Columbus Circle Liquor, (212.247.0764).

Another great buy is from the French winemaker Guy Saget. This Loire Valley estate puts out some top-rate Pouilly-Fumé and Sancerre, so it's no surprise that some of the great flavors come through in their Petite Perrière Sauvignon Blanc. It's bright with citrus and light spice, full in the mouth and offers a rounded finish. I love to show up with this wine when I need a value white. Everyone goes back for a second glass. What more could you ask for at $9.99? At Warehouse Wine & Spirits, (212.982.7770).

If you are looking for a wine that's particularly soft on the palate, a good Viognier does the trick. My mother, for instance adores this wine when it's light and not too fruity. Diamandes vineyard, located in the Mendoza region of Chile, puts out a lovely version of this varietal. Perhaps that's because the Bonnie family of Bordeaux owns the winery, and they brought all their French varietal knowhow with them. This Viognier has a brilliant bouquet that's full of bright citrus and spice. The palate is focused and robust with flavors like peach and apricot, balanced by a clear minerality. A rich but smooth structure makes this wine very drinkable. $20, at Ambassador Wines (212.421.5078).

Also from Diamandes is a yummy, full-bodied Malbec. It's fruity and intense with a wonderful, lush sensation on the mouth. Expect a silky opening, followed by notes of dark fruit, chocolate, coffee, and pepper. This wine has a refreshing acidity, probably due to the climate of cool nights, warm days, and the high altitude that the Uco Valley is known for. This wine is big in flavor and body, just the way a good Malbec should be. About $20 at Schumer's Wines, (212.355.0940)

One choice I note for its complexity and intensity of fruit as well as minerality is an Italian Sauvignon by Livio Felluga. This wine is from the north-east region of Friuli Venezia Giulia, and is often referred to as a Colli Orientali del Friuli, which means that the grapes were planted on the slanting hills, which is optimal for sunshine, rather than flat plain. The flavor is intense and satisfying, with a bright citrus touch, a hint of licorice, and deeper woodsy and spice notes. About $22 at Garnet Wine (Garnetwine.com)

And for New Year's no fears. There are lovely sparkling wines for every budget. If you're lean on cash, may I suggest MXP Cuvee Rosé? This sparkler from Penedes, Spain, will do you proud. It is creamy but super dry, with subtle notes of fleshy fruit like apricot and melon. There's even a little touch of—that famous fruit of the season—cranberry! It's a blend of Monastrel and Pinot Noir, and made by the Cava method, where the second fermentation takes place in the bottle. It makes a perfect opening toast for the holiday. Plus, the vineyard is a mere 25 miles south of Barcelona, and you know everyone at the party will love that. In the US, rosés have lots of novelty appeal; so go ahead and steal the show. Not bad for $12.99 at Warehouse Wines & Spirits (212.982.7770)

Another equally dry, tasty and well-priced sparkler is Lucien Albrecht Cremant d'Alsace Brut Rosé , NV. Made from Pinot Noir, this rosé is particularly juicy and inviting, and unlike other sparkling rosés, has none of the dark overtones that come from aging in oak. That is the refreshing and simple house style at Albrecht. From the Alsace region of France, it has a crisp nose with hints of wildflower and fruit that is typical of wines from this region. It is dry and refreshing but still right on the subtle taste of the fruit. Like traditional Champagne, it undergoes second fermentation in the bottle. $19.99 at Sherry Lehmann (212.838.7500).

Of course, if you can buy a top shelf bubbly from the Champagne region, it's hard to go wrong with Champagne Nicolas Feuillatte. This label happens to be the most popular champagne in France, and it's not hard to figure out why. This elegant champagne is full of character, with exceptional roundness and fresh white fruit on the palate mingled with spice and deeper fruit flavors. Sophisticated and smooth, this sparkler takes your palate on a delightful journey before it reaches the final expressive finish. Made from 20% Chardonnay, 40% Pinot Noir and 40% Pinot Meunier, in the traditional method. $36 at 54 Wine & Spirits, (212 757-7123).

And finally, if you can go the extra mile, I'd surprise everyone with what I consider the most elegant cocktail of all, a rosé champagne. Nicolas Feuillatte Brut Rosé is even more delicious in this delightful salmon-pink rendition. Ten percent Chardonnay, 60% Pinot Noir, and 30% Pinot Meunier, it is exceptionally smooth on the palate, with a subtle nose of fresh red fruits and deep blueberry and blackcurrant. $46 at American First Liquor Store, (212.751.4997).

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