The best deal in fine wine this year can be summed up in a single word: Beaujolais. I can hear your incredulity already. “Beaujolais?” you exclaim. “That’s so, well, passé. That’s what we drank when we started out with wine.”

Be that as it may, the fact is that the greatest bargain this year is Beaujolais, specifically from the magnificent 2005 vintage. It is the single best Beaujolais vintage in recent memory.

Now, keep in mind that wine importers are getting clobbered by the weak dollar. Prices for all imported wines, especially those priced in euros, are rising almost daily. Yet you can buy grand cru Beaujolais for less than $20, and sometimes even less than $15. In a world where even the most insipid pinot grigio costs more than that, you know something ‘s askew.

Something is indeed seriously amiss in Beaujolais. The short version of the sad saga is too much wine is chasing too few customers. Add to that the equally real, if less quantifiable, matter of seriously degraded quality over the last two decades in a world market where ever-higher quality is the demand. Today, Beaujolais suffers from a tarnished image. That’s why prices are so low.

That’s the backstory, but the front line is that Beaujolais still has some terrific producers who are making the true, un-manipulated Beaujolais thing. In the last two decades Beaujolais has gone from a flavor-intensive yet delicate wine to something flagrantly fruity and jammy. The true Beaujolais can be a pleasant surprise after tasting fruit bombs.

What’s more, the best Beaujolais, the grands crus, can deliver real depth and scale, all the while retaining finesse. Unlike the conventional image of Beaujolais as a drink-now wine, the best grands crus can age as long and as well as all but the very greatest pinot noirs. Burgundy experts have been fooled in blind tastings by a 10- or 15-year-old grand cruBeaujolais from Moulin-à-Vent or Morgon, declaring these wines to be great pinot noirs.

That said, it would be a mistake to assume that only a grand cru Beaujolais is worth drinking. In the hands of the best Beaujolais producers, “mere” Beaujolais and Beaujolais-Villages can be thrilling — especially when you see the price. These are drinknow wines, to be sure, but if you put a few in your cellar, you’ll be surprised at how tasty (and transformed) these wines will be after even two or three years of aging in a cool spot. If you’re serious about wine, the 2005 vintage is the one to get with Beaujolais.

HERE’S THE (REAL BEAUJOLAIS) DEAL

Beaujolais “L’Ancien” Vieilles Vignes 2005, Domaine des Terres Dorées — If owner-winemaker Jean-Paul Brun has made a better Beaujolais “L’Ancien” than this 2005 version, I haven’t tasted it. This is a benchmark example of the true Beaujolais.

Mr. Brun is a great believer in using indigenous or wild yeasts, as well as avoiding whenever possible the addition of sugar to the fermenting juice (called chaptalization) to increase the alcohol level. Both practices are widespread in Beaujolais, resulting in juicy-fruity wines (the influence of certain yeast selections) and pumped-up wines of excessive scale and alcohol (the effect of chaptalization).

Beaujolais “L’Ancien” Vieilles Vignes 2005 from Domaine des Terres Dorées is extraordinary Beaujolais. Astonishingly dense and complex for its humble “Beaujolais” designation, it has the sort of finesse allied to flavor impact that has today become so rare in Beaujolais. Old vines certainly help, as does old-fashioned winemaking integrity. This is worth seeking out. Between $14 and $15 at Chambers Street Wines, Morrell & Co., and Crush, among others.

Beaujolais-Villages 2005, Louis Jadot — Although small growers usually have an edge in offering wines of the highest quality, it’s not impossible for high-minded shippers to compete. Proof is found in this exceptional 2005 Beaujolais-Villages from the shipper Louis Jadot. Here again, I can honestly say that if Jadot has ever made a better Beaujolais-Villages than this 2005 vintage, I haven’t tasted it. It’s that good.

This is very substantial (and very pinot noir-like) gamay that is far superior to its modest “Beaujolais-Villages” designation. Succulent yet austere, this 2005 offers black fruit scents and tastes of black raspberry and wild cherry delivered with impressive austerity and nuance.

Here’s the best part: It’s a steal. You can get it for $7.99 at PJ Wines and Astor Wines and $9.95 just about everywhere else.