My first smartphone literally cost 50$. It was an LG Optimus One. No contract, no obligation. It was 200$ but it came with 100$ gift card for BestBuy and a rebate of 50$. It was first on a monthly contract but it was WAY too expensive (30$) for my use so I switched to prepaid (100$ a year).
3 MPX camera (don't need more for an emergency camera), AM/FM radio (always useful) and enough battery to last more than a week. It was really solid, only a cheap plastic on the screen, it's not flip, so you can't break that.
There was a button for the camera too, which means that you could press the power button, aim, shoot, like your pocket camera.
I fail to see why I would pay the exact same price for an old phone... it has ALL the quality of the old phone. Also most of theses old phone in Quebec doesn't have a SIM slot, which means that you CAN'T change the carrier, like I did.