It is soooo exciting to find a steal piece of artwork and then reality hits. It's going to cost a mini fortune to frame it. Most originals do not come in standard sizes and you will have to do custom which can cost 100's to 1000's.
What I love to do is first find old frames at antique, consignment and thrift shops and then find the artwork. I found this old rickety frame for $5.
Knowing the size of the frame, I searched Yessy.com for art that was smaller than the frame. I found an affordable and beautiful piece by Leonard Seed. You can find his artwork here: http://yessy.com/art/?sb=12&skw=leonard+seed&spl=&sph=&scy=&sdn=&sds=m&cols=3&rows=5&x=95&y=11. This website has 1000's of artists and you can narrow it down to zip code to find local options.
I took this frame to Michaels and they reinforced it with new back and brackets for $7 and then created a custom matte for Leonard’s painting. All together this cost me $20 and it looks beautiful. There are many websites that show you how to DIY it. I think this is a good one - http://www.apartmenttherapy.com/frugal-living-how-to-frame-your-art-on-the-cheap-apartment-therapy-tutorials-200853). I am still a believer that it typically looks a million times better getting it done by a professional and still not having to spend that much money – win-win.
Take it a step further and find multiple frames and create an art wall!