C K,
Take a look at the Celtic Croft's Economy and Economy Fur Sporrans
http://www.kilts-n-stuff.com/
In their Economy Section take a look at the SE04
(Black leather with Chromed Cantle Economy Sporran for $55 US)
Their Economy fur sporrans come in white, grey, brown, black, and black with white tassels with a chrome cantle for $75 US. I think the grey rabbit fur one is rather handsome myself.
I have an earlier version of the Black Leather with Chrome Cantle sporran.
They are upfront that these are not the highest quality sporrans. I don't believe mine would hold up to heavy use. But I think it looks nice with my new formal outfit*

Comparing the amount of use I have for my formal sporran compared to my day sporran, I'm glad I went with an inexpensive formal one and have a handmade Freelander for daywear. If you are only going to wear your kilt formally, or if you intend to go to a lot of formal events, or if it really matters to you, then buy a quality L & M sporran (or similar). If not, get an affordable but handsome (but perhaps not so well made) formal sporran for occassional use.
Then put your money toward a real quality daywear one (like a Freelander)
Just my opinion
Good luck with your search
* One caveat, the chain that came with this sporran from the Celtic Croft was pretty flimsy. I switched it out for the much better one that came with my braided black sporran from Stillwater.
-See it there, a white plume
Over the battle - A diamond in the ash
Of the ultimate combustion-My panache
Edmond Rostand
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