I was encouraged in the "favorite wines under < $12" thread to start a new one for great wines in the $14-20 range. Personally, I think that this slightly higher price point opens up some really fine choices that have significant added complexity and age-worthiness compared to the < $12 price point.

I'll start with these:

Clos de los Siete - Argentine Red Blend. Both the 2006 and 2007 vintages are superb, ageworthy wines. I paid $15.99 for each of them. This wine is a blend of Malbec, Merlot, Cab Sauvignon, and Syrah, with Malbec making up about half of the blend. This wine can easily hold it's own compared to your average $40-75 classified growth Bordeaux (most similar to a St. Emilion), or your average $30-50 California Meritage, at a fraction of the cost. It also is better than a good many Argentine wines that cost twice as much.

Punto Final Malbec Reserva 2006. $17.99 This is almost the prototypical Argentine Malbec, both complex and easy to drink, with a combination of fruits, spices, and some leathery notes on the nose, and a long finish. BTW. their regular release Malbec (current vintage 2008) is also one of the best under $12 Malbecs available as well. They select the most concentrated lots and oak age them for their Reserva, while letting the fruit stand on it's own for the regular release.

D'Arenberg: The Laughing Magpie 2007 McLaren Vale. $17.99 at Costco. This is a huge, concentrated Shiraz with a bit of Viognier blended in to give it aromatic complexity. This wine needs 4-5 years of bottle age to shed some of it's tannins, but it is a dense, extracted wine of the sort that one would expect to spend twice as much for. The Aussie version of a great Cote Rotie, but costing much less.

Schild Estate Shiraz 2007 Barossa Valley. Paid $14.95 for this. This is a fruit bomb of a wine, much more approachable for current drinking than the D'Arenberg Magpie. Just an easy to enjoy, but multi-layered wine.