despite being made with a $23,000,000 budget.

I wouldn't call $23M low budget lol, especially in the '90s.

In terms of low budget, I saw Obsession recently and it's a really good example. It was shot for only $750k, and it made back over $450M.

I also want to give a shoutout to Upgrade (2018), made with a budget of 3 million but is a pretty well done sci-fi considering how limited it was.

The original Mad Max cost around $400,000, grossed $100 million and started a whole franchise.

Clerks, Halloween, and Napoleon Dynamite are three of lowest budget highest grossing movies I love.

The movie Primer comes to mind. Also the movie The call of Cthulhu.

• Monsters: budget was 60K
• Clerks: budget was 230K
• Reservoir Dogs: budget was 1.2 Million
• Pulp Fiction; Budget was 8 Million
• The French Connection: budget was 121K
• Rocky: budget was 1 mill
• Split; Budget was 9 Mill
• The Terminator: budget was 6.5 mill
• Night of the Living Dead: Budget 115K

The Gamers is a D&D movie made for $1000, and I honestly like it more than honour among thieves. It's a movie about playing TTRPGs rather than a D&D themed action-fantasy, and I'd love to see the same thing done with a much bigger budget.

Living in Oblivion - low budget movie about making a low budget movie, classic

Clerks - epitome of a low budget movie

Napoleon Dynamite had a budget of 400k and is excellent.

Nirvanna the Band the Show the Movie had a budget of $2 million, which is insane when you see it. Most of the movie you will keep asking yourself, "how did they film this". It helps that they pushed the boundaries of fair use and didn't have to license most things. They have a great video on youtube about not getting sued while getting away with everything they do.

Top Gun had a budget of 13-15 million in 1986. El Mariachi had a production budget of 7225$ and 200k$ for post production in 1993.

The man from earth. Essentially its a bunch of people in a room. Well worth the watch.

• Cube (1997) cost 350k.
• Beyond the Black Rainbow cost a measly 1 million and it's more of a cult/niche flim, but it looks like it cost way more, they did a lot with just atmosphere and practical effects.
• Coherence (2013) cost just 50k and I found it gripping.
• And of course The Man from Earth (200k), if you watch those back to back you wonder why this one even cost that much.

Rubber is a 2010 movie with a $700k budget. I love it but everyone I've showed it to said it was trash so ymmv. It's about a car tire that goes on a killing rampage.

Kung Fury

Inbred Redneck Alien Abduction (2004) was not what anyone would call "good" but definitely "remarkable how much they achieved with so little money".

District 9 (30M$)

Does it count or it's too much?

El mariachi, Lola run, reservoir dogs, blue velvet, lost in translation, this is spinal tap, trainspotting, Monty python and the holy grail, bad cop, Blair witch project,...

here's a perception that "low budget" movies are crap but that can be a hit or miss depending if the director really managed to pull off a good movie

For big budget movies it is the same criteria, else you end with a producer's view of a statistically average success, which might be enjoyable but had little chance of being good.

The Battery is an amazing little zombie flick made for about $6k.

Something Wild (1986). 7 million