Trader Joe's, my new favorite place, is particularly well-known for it's bargain wines and especially for the Charles Shaw wines sold for between $1.99 and $4.99 depending on location. Some wine critic cleverly coined the name Two Buck Chuck for the Charles Shaw wines.
The company that makes these wines uses surplus from the California wine industry. And they market the wines as "extreme value" (instead of CHEAP).
Intrigued, I picked up a bottle of Charles Shaw cabernet sauvignon at Trader Joe's. Two Buck Chuck is surprisingly drinkable. It was very sharp when I first opened it but it benefited from being poured in the glass and left to sit out for a while. It certainly wasn't a complex wine but it is easy enough to drink.