For 5 bucks you can not get a profesional logo, you get the generic crappy fiverr logo. It depend how unique it is. I will say 20 usd for a good one, 100 for an excellent one.
i would say -- minimum professional logo design should range between $150-250. i charge that range before but due to high competition newbies are charging even $5 for a logo and other graphics design at very low cost. i suggest $47 is just fine for 2-3 initial concept and up to 3 revision take it or leave it, i will not go down beyond that range or offer unlimited revision for such low cost i will not risk my time for that.
I don't pay more than $50 at Fiverr but it also depends on the design of logos, creativity and uniqueness as well. However, more formal and professional logos have cost $200 plus.
Depends a lot on multiple factors. What are you using it for, how advanced is it, how professional it have to be and so on...
I would say depending on the usage of it: $5 up to $200
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