I highly recommend staying away from any cheap saddles. Remember, this is something that you are going to put on your horses back- you don't want to be cheap when it comes to comfort and quality. :) Your horse agrees too, I'm sure.
With a budget like that (which is a very decent one), I would recommend looking into a used Billy Cook, or something along those lines. I am not personally a fan of the newer Circle Y's. Their quality has gone down a lot over the past ten years.
One of the best barrel saddles that I ever bought was a custom Guffey. They are not all that expensive, and are American made. I brought the saddle to a local saddle maker to have him clean it, and he said that it's one of the best made saddles that he had seen.