I’ll play. Love the Loire whites that I’ve had, so:
Huet and Chidaine - can’t go wrong with any of the demi-sec or sec wines. Well under $35 and can drink now or hold.
Baumard Clos de Papillon is one I also love, around $30-35?
Edit: RED! Sorry about that…let me come back in a bit.
Ian, this thread will be much more useful for you if you give some general ideas and/or examples of what kinds of wines you like and don’t like. There is just too big of a range of styles, regions and grapes out there.
I think the reason more aren’t responding is a bit of burn out with “best under $X” threads, which are quite common. But I can’t think of a less than $35 thread specifically. My advice on a lot of these is similar to Daniel’s, the Loire is where its at for great value. However, you said red but Daniel responded with white producers. For Red, Bernard Baudry’s wines should almost all be available in your price range, as will some Joguet, many Breton. These may not be for everyone, but they are some incredible wines at incredible deals.
Many Carlisles, the Sonoma County Zin is beyond awesome. Siduri Sonoma County PN, the new Loring appellation PN’s, Cabot Humboldt Syrah…that is my first pass at it.
If someone really wants to walk on the wild side, I have a suggestion. Madeleine “Capitre V - Le Pianiste” a stunning Cabernet Franc made by Carmel local Damien Georis. Just released at $22, it would be a bargain at twice the price. http://madeleinewine.com/
Ian Brand’s Coastview lineup is also beautifully crafted – silly bargains.
Plenty of excellent CnDP and equivalent Rhone in that range. Again, too many to single out, and all subject to availability. 2010 may be giving the best value in red wine at this time, and you can find ready to drink '06s that have been overlooked.
Honestly, you should be able to find something you love in this price range. Provided you aren’t looking for a long-term ager or something with auction upside, of course, though there are a few exceptions here and there. The question is, what is it you like? That’s the biggest factor.