NeedaPhone.com via eBay offers the Unlocked Motorola Droid Razr V GSM Smartphone, model no. XT885, for $109.99 with free shipping. That's the lowest total price we could find by $72. It features a 4.3" AMOLED display, TI OMAP 4430 1.2GHz dual-core processor, microSD card slot, 4GB internal memory, and up to 9.5-hour talk time.
Note that although it's unlocked, it may only work with GSM carriers such as AT&T.