I ordered a test pair from a French company, Loding. Most of their shoes are Goodyear-welted and come in handsome last shapes, and all of them cost just 160 euros. I'd been looking for an addition to my "semi-heavy street shoes" in the form of split toe derbies, and decided to test Loding. Here's a few pictures of my pair, with just a touch a shoe voodoo to add a nice shine.
The first impression is quite good for 160 euros. The leather feels OK, the color is rather beautiful and the stiching looks decent. The burnishing has been made a bit quickly it seems, but then again, you can't expect to buy a pair of John Lobbs at this price range. One important notion would be that they run considerably large fot their size marking.
Having not worn them yet, I'm quite pleased. The only thing I would have wanted is a bit heavier sole. These have a kind of a Ridgeway/Victory type of sole with a different pattern, which seems good enough, but a thicker rubber sole would have added some more presence that I was looking for from this pair.
All in all, it's still a beautiful pair for the money, and even if it ended up being a bit too dressy for any rougher outfits, it'll do perfectly for those lighter and semi-formal ones. Just waiting for my padded Eleventy jacket now.