Older wines, unbelievable values -- taking a sneak peek at Rioja

On a steamy hot afternoon, Rioja producers held a trade tasting under the banner RiojaBuzz in a midtown Manhattan penthouse. By the time I got there, an hour after the event began, the place was thronged with retailers, sommeliers, restaurateurs and the media. More than 60 producers had flown over from Spain to present their wines.

These may have been their latest bottlings, but for many of them, the vintage was more like 2010 or 2009 than 2013. That’s because Rioja is unique among wine regions in that estates age their reds, often for a considerable time, in their deep, dark cellars and release them only when they’re ready to drink.

Rioja presents some of the best bargains in the wine world in terms of price and quality. Sometimes I tasted a wine, thinking it must be $40 or more, only to hear the price was $18 or $22, which means great everyday drinking.

I brought a friend along who had never been to a professional tasting before, and he was amazed at the throng and the pace of things. Also at the difficulty of balancing your one glass, holding onto or scribbling your tasting notes, and finding a spit bucket when you need it.

A booklet and map led the way to the producers’ tables. Of course, it’s impossible to taste everything, so you pick and choose. I tried to balance the longstanding reliable producers like Muga, C.V.N.E., Bodegas Faustino, La Rioja Alta, Bodegas LAN and Marqués de Riscal against estates new to me.

Highlights included the new 2010 Propriedad, a Garnacha from the stellar estate Artadi in Rioja Alta and also Artadi’s suave 2010 Viñas de Gain Tempranillo. I continue to be impressed by the more modern style of Contino, a smaller Rioja Alta estate owned by Viña Real and made by Jesús Madrazo. The 2007 Contino Reserva -- fresh, elegant -- just didn’t want to leave my glass. The Viña Real 2009 Crianza was one of those wines you’d swear cost much more than its $18 price tag.

A new label for me was the 2011 Horizonte from Bodegas Exopto. Good stuff. And I really liked the 2009 Viñedos de Paganao El Puntido along with the deeper, darker San Vicente de la Sonsierra. Finca Allende is producing some great Tempranillo, too, at moderate prices.

Bodegas Ontañón, an estate in La Rioja Baja with vineyards at high elevations outside the town of Quel, brought a library bottling, a 1995 that was still very fresh and alluring. The 2001 Ontañon Grand Reserva shows good potential, too. The Bodegas Montecillo Reserva is another great everyday wine at $16 for the 2008.

Expect to see more of these vibrant wines from Spain showing up in local wine shops. What other wine region releases their wines at eight to 10 years, often with a price tag hovering around $20? The quality across the board is excellent for the money. And you don’t have to worry about drinking Rioja right away. These bottles, even the whites, can age.