What’s the definition of “fine wine?”
Generally, this term is reserved for exceptional wines from the world’s best vineyards, the highest quality grapes and the most acclaimed winemakers. Over a period of years, they’ve achieved ‘blue chip’ status — Grand Cru clarets and Burgundies are classic examples. Due to demand, such wines can command anything from around $50 to $200 or more a bottle.

Are they worth it?
It’s a bit like asking a car enthusiast if a Ferrari is worth the money (if you see it just as a means of getting from A to B the answer is probably no). If wine is just a drink like any other, then perhaps no. But if wine is a genuine interest and if your enjoyment of it encourages you to experience greater, more complex, richer and satisfying bottles, then this is an area you ought to be exploring.

If I spend twice as much will it be twice as good?
Yes … no … well, sometimes. A $10 bottle of wine may well be twice as good as a $5 bottle … and a $16 bottle twice as good as a $8 one. Over and above this level though the value for money becomes more subjective. To a degree, you’re paying a premium for perfection because it’s so rare and so hard to achieve. You need therefore to buy with caution to avoid expensive mistakes. You can find the occasional gem for $15 or less, but wines above $50/bottle usually guarantee a wine made without compromise. It may not be your cup of tea, but it will be made with perfection in mind.
Source (https://www.wsjwine.com/about_wine_fineWines.aspx)

Crystals
Crystals in wine are not usually a problem. But there is a fundamental conflict here. Wine, naturally has bits in it. Bits of grape. They are removed during the process of winemaking. But every bit removed results in some flavor being removed also. Customers generally like clear wine with no bits. You can see this puts us in a bit of a dilemma. In order to make each bottle as tasty as possible we have to risk the occasional bits. But taste the wine and you’ll appreciate that the occasional ‘bits’ are worth it!

“There’s sugar on my cork”
Is a frequent comment … no, not sugar but crystals of tartar called “Weinstein” in Germany where the fine acidity accentuates its formation. They look — but do not taste — like sugar. Consumers should not be concerned. They are a sign of good quality and wines that have perfect ripeness as well as fine fruit acidity. Tartaric acid occurs naturally in all wines. It can be removed but the process also removes a lot of wine flavor so we and most conscientious winemakers avoid using it. Crystals of tartar sometimes precipitate out and settle on the glass or the cork or at the bottom, but they are harmless and tasteless. Pour carefully and rejoice in good natural wine.

Sediment
Sediment in wine is never a failing. It is a sign of the courageous winemaker who refuses to de-nature his wine just because some supermarkets don’t want the cost and effort of explaining sediment to their customers. Real wine is a joy. Consider … like it or not, wine is around 12% alcohol, 80% water and a tiny amount of stuff called “dry extract” which adds all the flavor. It triggers all the romance, causes all the books to be written, the court cases to be fought, the fortunes to be lost. Remove all the water and alcohol and what do you have … well it looks like sediment. So, we are supposed to take this sediment out are we? We love old bottles of Hermitage or Châteauneuf where the whole inside of the bottle has become coated with tartar crystals … that’s real wine!
(Source: https://www.wsjwine.com/about_wine_bits.aspx)

Step One – Look

Clarity is an indication of the character and condition of the wine.
Colour (intensity and hue) should be assessed – generally a darker colour and a difference in colour from the centre of the glass to the edge can indicate oxidation, which may be a deliberate part of the winemaking, an error, or a part of the natural process of maturation in bottle.
The ‘tears’ left on the inside side of the glass after swirling can be indicative of the amount of glycerol and alcohol present in the wine.

Step Two – Smell

Inhale and try and identify as many flavour compounds as possible.
Aromas refer to smells derived from grapes and include fruit descriptors (eg: lemon) and herbs and spices.
Bouquet refers to smells derived from the winemaking process such as characters formed by yeasts, specific fermentation techniques or type and size of maturation vessel.

Step Three – Taste

The texture of a wine can provide clues as to how the wine is made.
Progression of flavour from when the wine enters your mouth to after you swallow, is an indicator of the quality of the wine, a long aftertaste is generally a positive indication of quality.
After looking, smelling and tasting, make an overall assessment of the wine – a lasting impression of harmony and balance is considered desirable and easiest to enjoy.