(MONEY Magazine) – When was the last time you sipped a flute of champagne? At a wedding? At an anniversary? Last New Year's Eve? Well, if you think of breaking out the bubbly only on special occasions, you're not alone. Every year, approximately 80% of U.S. champagne and sparkling-wine purchases are made between November and January. The problem is this: Because we so seldom drink champagne, few of us have any basis for distinguishing a great bottle of bubbly from one that merely fizzles. As a result, it's often a price tag or a familiar label, not taste, that dictates which sparkling wine we buy. And simply paying more--prices range from $8 to $200 a bottle--doesn't guarantee better quality.

Of course, you're not about to become a connoisseur of something you drink only once in a while. So we've checked in with sommeliers, wine dealers and other experts for specific champagne and sparkling-wine picks, priced between $10 and $40, that are appropriate for any social occasion, from a large party to an intimate dinner for two.

First, a clarification: Champagne, by name, is the effervescent wine that is produced in the Champagne region of France, about 90 miles northeast of Paris. Thus most California vintners call their champagne-like products sparkling wine. Once derided as second-rate, these domestics have been gaining the respect of wine directors and sommeliers at some of the country's best restaurants. "The California sparkling-wine makers have reached a new maturity," says Larry Stone, partner and wine director at San Francisco's Rubicon restaurant.

But whether you choose a sparkler from France or California (with one exception, our experts pointed us to the latter), you'll first have to decide whether to select vintage or nonvintage. Nonvintage (NV on the bottle) denotes that the grapes used for the wine were harvested in different years. Vintage champagnes--which are more rare and generally more expensive--are created with grapes from a single harvest and aged at least three years, or almost twice as long as nonvintage. The wine experts we spoke to agreed that the best choice for all but the most extravagant occasions is the more moderately priced nonvintage variety. And, they say, go with a brut, which is (perhaps contrary to expectations) drier and less sweet than the so-called extra dry.

Now for the picks:

THE BASH

Let's say that you're hosting a large party and you want to serve champagne throughout the evening. You can find a fine sparkling wine at less than $15 a bottle and save even more money buying by the case--one for every 25 people is about right. Our experts suggest a California sparkler like the nonvintage Gloria Ferrer Sonoma Brut, from the California branch of the Spanish vintner Freixenet. At about $130, 12 bottles of Gloria Ferrer will allow each guest about three full glasses--and you'll still have some liquid assets to spare.

THE DINNER PARTY

If you're inviting a few friends over for dinner--and can therefore spend a bit more for something special--consider either Iron Horse Blanc de Blanc, made from Chardonnay grapes, or an equally exceptional sparkling wine known simply as J, from the J Wine Co. Though only about $25 a bottle, they both rank among California's most highly respected sparkling wines, says Andrea Immer, master sommelier at Windows on the World restaurant in New York City.

THE ROMANTIC RENDEZVOUS

Party of two? Well, there are the usual nonvintage suspects--Veuve Clicquot Yellow Label Brut, perhaps, or Moet & Chandon Brut Imperial. But if you want to show that you're as discriminating about the wine as you are about the company, try the 1992 Roederer Estates L'Ermitage ($32). This fine vintage sparkler is made by the California outpost of the venerable French producer Louis Roederer and is the estate's tete de cuvee, or top of the line. Rubicon's Stone calls the Roederer offerings "qualitatively difficult to distinguish" from more expensive French vintage champagnes.

Or get even more surprising and go with a rose champagne--the Laurent-Perrier Cuvee Rose Brut ($38). Now put aside your memories of cheap, sweet rose wines. This salmon-shaded champagne, made from Pinot Noir grapes, "has freshness and a delicate effervescence that lasts on your palate like the best still wines," says Lisa Simon, beverage manager of New York City's Bubble Lounge, which specializes in champagne.

With these picks, you may start drinking sparkling wines year round--not just on special occasions. Which leads to a point made by Peter Webster, a senior editor at Departures magazine, who for the past five years has eschewed all other alcoholic beverages: "A great pleasure of drinking good champagne is it doesn't leave a hangover." We'll drink to that.