expect to still probably pay a little more than your Nero price (not always, but an outstanding $12 bottle is a rare thing in wine)
my suggestion is to look at classes of wine that typically offer good value. a couple of examples:
wines labeled “Langhe Nebbiolo” often come from the same vineyards as more expensive Barolo and Barbaresco, but the vines are a little younger, or its maybe the bottom of a hill instead of the middle or top in the same vineyard… etc. I love the Langhe Nebbiolo from Produttori di Barbaresco (the “langhe” is $22, the “barbaresco” is $35, and the “riserva barbaresco” is more)
wines labeled “Rosso di Montalcino” are often similar, but they are “baby brunello di montalcinos” instead.
In other countries and regions, a “Bourgogne rogue” from a really good producer will often give you a pretty good idea of the style of iconic producers at a much more entry level price than their most famous wines from higher ranked (grand cru) vineyards. Still expect to spend $30-45 for a producer like Leroy, Meo-Camuzet, Hudellot-Noellat, etc. note: these will NOT typically have the complexity of a Grand Cru. Theres typically a quality reason why the Grand Crus ARE the Grand Crus that is hard to obtain anywhere else. But they are a fairly good alternative at a fraction of the cost.
In Bordeaux, in good vintages there are deals galore. Wines in the lower “growth” classes or in the “haut medoc” can be steals. some of my favorites are Lannessan, Gloria, Sociando-Mallet, and Cantemerle (there are a lot of value Bordeaux threads if you search the forum). Two notes for these: again, it is hard to find a comparison to the first growths. When they are in their stride, theyre hard to beat. also, you are gonna probably have to pay a little bit of a premium for the best experience even with these lower ranked wines if you wanna drink them now, because they are often at their best when they are 10+ years old.
For rhone blends, similar grape blends can be found from the Languedoc for fractions of the price. They will typically be slightly less elegant or more fruit forward than their Rhone counterparts, but gives an idea.
Other things to keep in mind: there are some values in overlooked regions of the world. some countries in south America (Chile for example) can make some pretty stellar Bordeaux blends if you know what to look for. Same for some regions of southern Australia and Washington State. Austria and Alsace make some really great (mostly dry) Riesling.