Years ago I bought a handcrafted longbow off ebay for like $50. I figured I couldn't go wrong and the worst case would be it becomes a wall hanger. Well the bow came in and I enjoyed the 70# beast, but as years went by the wood started to crack and it had to be retired. Today I found another one and ordered it, except it's only a 50# bow this time.
If you're interested in a very inexpensive longbow go to ebay and type "Handcrafted longbow".