Try running a graphic design contest. You'll get a high quality logo at a min of $75 for the contest. You can check out some of the contests being run and the designs that clients are receiving. Admin fees are the lowest on the web at only $10 a month or $30 for 6 months. You get to choose which design you like the best from multiple designers as well as make changes along the way.

Check out http://gfxcontests.com for more details.

I'd be happy to answer any more questions you might have. You'll get the best design for your money when you get multiple designers competing for your business. Check out the site and contests there for examples of the some of the logos designed by the designers.