It's not low budget in the means of Halloween or Clerks, but Pulp Fiction and Reservoir Dogs are extremely well made for having budgets under 5 million.
Open Water = $130,00
Clerks = $27,575
Halloween = $325,000 (is this correct?)
Blair Witch = $35,000
Night of the Living Dead = $114,000 (this seems high too)
Resevoir Dogs = $1.2 M
Pulp Fiction = $8 M
Yup, El Mariachi has every low budget beat in the dollar-to-entertainment ratio. I can't think of one other full length feature shot for only $7000 that's ended up on the big screen. Not even Roger Corman films are that cheap.
[quote author=Mike_Donis link=board=movies;num=1094244199;start=0#13 date=09/03/04 at 18:26:27]I saw a behind the scenes video of "Pulp," and they said it was 8 million. It was someone being interviewed, too (and I believe even Tarantino.)[/quote]
I was watching the Reservoir Dogs Special edition the other day and tarantino gives the whole story of how he got to make the film and how much it cost. $900,000 .
I watched Blood Simple for the first time yesterday and it was good. I have a book Called My first movie and the Coens say they raised $750,000 for the film
Here are six of my favorite low budget movies (in no particular order):
Sex Lies and Videotape
Kids
Slackers
Welcome to the Dollhouse
Living in Oblivion
Lord of the Flies (if you listen to the commentary on the criterion disc it is really amazing. These guys were on the cutting edge of hand held work.)