Hayneedle offers the ClosetMaid 5 to 8-Foot Closet Organizer for $34.85 plus $4.99 for shipping. (Amazon offers it for the same price for Prime members, and Walmart offers it for the same via pickup.) That's the lowest in-stock price we could find by $15. It can mount to the wall or be set on the floor and is made of vinyl coated steel.

Update: The price has increased at Hayneedle; however, Amazon and Walmart both offer it for $39.84 with free shipping and in-store pickup, respectively.