What do you mean with "cheap"?
In the custom knives world 500$ may be considered cheap, if compared with the work of many makers out there

I found Jason Jacks to be a really good knife maker.
The knife I bought to it wasn't very expensive, and I'm speaking of the price I paid in ITALY, after the italian customs placed a 40% tax over it and then made me pay 20% VAT on the "price + 40%" instead than on the sole price... (nice, eh?


) and after retailer profit...
The knife is a liner lock folder with anodized titanium liners, carbon fiber scales, Robert Eggerling mosaic damascus bolsters and damasteel twisted pattern SS damascus.
The blade is an AWESOME cutter. Fit and finish of the knife are perfect, the whole thing may be took down with a torx screwdriver and an allen key.
I cut some wood and leather strips with it an still had no need to resharpen.
It sits comfortably in the pocket fastened by a polished and blued clip, that now starts to show the first wear signs from friction against my pocket but, hey, that what's a knife is supposed to do!

Italian maker Santino Ballestra makes many interesting pieces too.
He forges his own damascus and makes fixed blades only.
The fittings are more utilitaristic than fancy, as his knives are supposed to get used, and used heavily.
Here the links:
http://www.jacksknives.com
http://www.studionet.it/ballestra/Default.htm