What’s the difference between a bottle of wine priced at $3.95 and one that sells for $39,000? The factors that determine the price of wine are varied, volatile, and vague. Here’s an inside look at what you’re getting for your money.

At a wine auction in France, a bottle of vintage Château Lafite Rothschild Burgundy is sold to the highest bidder for $230,000. At a Trader Joe’s store in California, a bottle of Charles Shaw Chardonnay, known in local slang as “Two Buck Chuck,” is priced at $1.99.