My first cosplay was probably around $50 or cheaper, since I didn't use a wig and most of the pieces came from my closet. Most of my outfits, though, have been over $100, and my current project is currently costing me over $300.
+ Anime Iowa 2012
Cosplays in Progress:
+ Sesshoumaru (Inuyasha) - 95% complete
+ Irisviel (Fate/Zero) - 100% complete
+ Tifa Lockhart (FF7 AC)
+ Carolina (Red vs. Blue)