Axe of the Slayers is around that price range and packs a great punch for the price. Plus once you hit 30 it proc's Rune like nobody's business, meaning you spend less on heals.
As long as you stay the hell away from Rogues and Rangers and Monks, it's the only weapon you'll need till you get into your mid 40s.
Or you can spend twice as much, group with a buncha dps melee and plink away with obsidian shards, your call.
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Runed Falchion and Polished Steel Dirks are a couple low-cost one-hand alternatives, altho neither proc to generate added hate.