A bottle rack for compactly storing and displaying narrow-neck bottles in an easily accessible manner. An upright panel has a plurality of holes passing therethrough. The holes are sized to receive the neck of a bottle inserted therein. Below each hole is a pair of spaced-apart support pegs that transversely protrude out from the panel so as to support the weight of the bottle. The support pegs are spaced apart a distance less than the body diameter of the smallest bottle to be stored or displayed in the rack. The holes are spaced apart approximately the same distance as the largest diameter of the bottle bodies. The holes are also arranged in a desired pattern, such as rows and columns, so that the bottles may be stored in an orderly fashion. In one embodiment, the support pegs protrude out from both sides of the panel and, accordingly, bottles may be inserted into the rack from either side of the panel. The support pegs prevent undesirable lateral movement of the bottles and also allow sufficient visability to enable the bottle labels to be easily read. Support structure is used to hold the panel in its upright, generally vertical, position. A cabinet may be built around the panel having doors that allow access into the rack area from either side of the panel.