My buddie bought an epiphone for 100 bucks (including shipping)
online from Musicians friend

I played the guitar, It is very very nice with a pretty sound out of it. I was shocked at the quality for under 100 bucks considering they offered free shipping with it. How they do it, I don't know but I would not just write off cheap guitars these days, like someone mentioned, they are better than what we paid and arm and a leg for 30 or 40 years ago