Those shoes are made for loafing. And not for walking.

I love loafers. They make up a large proportion of my shoe collection.

Firstly, to a certain price point you get why you pay for. Case in point I have some beautiful Ralph Chelsea boots. Soft calf with a double sole. Worn every Autumn and Winter for the last fifteen years and still look like new. Probably paid £250 pounds at the time what a crazy amount of money but equates to roughly £17 a year.Made in England by C&J.

My experiences with cheap footwear isn't good. They quickly loose their. shape and lack the support I want.

It is difficult to get the right balance between the look, quality and price point. You do have to really shop around. The problem I'm finding is that you end up having to cherish cheap loafers that historically you wouldn't  even consider just because they have the look and there aren't many alternatives.

Patrick is right Allen Edmonds do cover the middle ground. I bought last year some deadstock Waldens off their site. Pretty inexpensive. I remember Chiltern Street stocking them early on.

I think they also made the cheaper Alden Cape Cod collection. I picked up some CC penny loafers from Alden's DC store. The leather is superb. Soft and slightly textured

Sebago have the right look and are very good value. You can often find them on offer. I have several pairs including my prized Heritage Collection pennies. Like the old Cayman.

I love Rancourt loafers too. Exceptionally comfortable. JS is waiting on new stock from them.

I threw away some Cole Haan Pinch Penny loafers. Far too narrow. more pinch than punch

Anyone looking for a great Ivy loafer should look at Crockett and Jones Harvard/Boston loafer in Cavalry Calf. Often referred to as poor mans cordovan these shoes combine the look of a LHS with the superior lasts of Northhampton. They're Goodyear welted so can be easily repaired.

Opinions? Seem quite nice for the price.

https://www.morjas.com/shop/shoes/the-penny-loafer/

'Opinions? Seem quite nice for the price.'

I know many of you differ on this but personally I dislike rubber soles on shoes, so for that reason I wouldn't consider them. If I were one of those poor, deluded soles who likes rubber souls then I wouldn't invest anyway. They look nice and it's obvious they're quality footwear however at 300 notes plus shipping I would have to be enamoured - as a penny fan I like them, but I'm not in love. They're copying the classic US loafer but I think they've come out a little bit more elegant than even the most expensive US loafers e.g. the famous Brooks/Alden cordovans. The beauty of loafers is in their loafing casualness.

I'd rather pay a bit less for cheaper quality but nicer looking. Or even better pay the same or more for nicer looking and good quality. Rancourts have some beauties, and there's a relatively cheap Spanish brand whose name I forget that John Rushton used to and may still stock (beefrolls though but nice looking).

They offer leather soles too

Even JS ist dipping his toes in European (loafer) waters. Think of D. Lepori. There are still some treasures to find for those who seek.

'They offer leather soles too'

In that case I would be more tempted, but I still find them a little too refined. As has been stated earlier though, in the flesh could be a different matter.

^Yuca

I started 23 with a restock JS Rancourt loafer in burgundy. Very different leather and construction from the earlier models. These have been consigned to the stock room.

Then had their grain beef roll. They’re lined and have taken an age to break in.

Bought some Cole Haan but they went back.

In Paris I purchased the Paraboot hybrid loafer cum deck shoes.

I finished the year with a couple of new Sebagos. The grain loafer went back as it was faulty but I kept a stunning pair of dark brown suede beef rolls.

Other things I investigated were a new Florsheim Berkeley 2 loafer but not worth getting. Slightly pointy toe box.
Allen Edmonds Cavenaugh loafers. Weird fit
Johnston and Murphy loafers but that’s one for another day

The Alden is such a well made shoo either in cordo or not, that I can't imagine a superior loafer. 

I second the an early post by yuca, that loafers were cheap and cheerful.  Relatively.  The ol' Bass or Dexter of the 70's and 80's made in Maine or Massachusetts was reasonably priced (though not cheap for that time) and the leather was good.  But the Alden is really superlative.  And I'd rather invest in something like that than something that's really not well made.  But it is a little difficult to get your mind around the pricing.  But I've bought a few Alden's over the past few years and they're all great.  My only relative disappointment is the suede chukka -- I'm not a fan over the style.  Or at least the particular cut/last/style I have.  Much rather have a Clarke, but I want it with Alden quality.

I can't believe I'm going to say this but thinking of investing in the Indy Boot.  I couldn't stand them for a long time but I need a good pair of boots for outdoors and light "trekking" if you'll excuse the word. And I'm tempted.