In the $500 range, it would probably be a production cue. Mezz or Joss would be the brands I recommend.
Custom cues usually start higher than $500 and often a custom cue at a low price would be a red flag in itself. The problem from a consumer standpoint is that it can be hard to see if it's a well made cue or not, obviously there are some thing you can look for like sanding marks, are things nice and straight, gluelines and so on, but that doesnt tell how the woods seasoned, how long it took to turn from a square to a finished cue. What type of finish is used, the quality, fit and finish of parts used. Personally I thread everything as I feel the chemical bond by itself isn't strong enough and I send things out, not knowing how it's gonna be used and in what climate, so I do everything I can to avoid problems down the line.