Way back in the day (in the late 70s) there was a company here in Michigan (and maybe in other midwestern states) called Tech HiFi. They had a great catalog, artfully put together), and in it, they said that if you wanted to, you could build your system incrementally so that you could focus on getting quality goods.
They said that, at a minimum, you could buy a good receiver and a pair of headphones and you'd be set to listen, at least, to FM.
When you consider your turntable price, don't forget that you may also need to get a cartridge. Early this year, I got a Shure M97Xe off Amazon for $45 (normally I think the price was about $160).
One other thing about the Tech HiFi catalog: they recommended spending half your budget on speakers. And a good portion on your cartridge. That's because that's where the most important things were going on. The cartridge converts the potential mechanical energy in the grooves in the vinyl to electrical energy to be amplified, and the speakers essentially do the inverse: convert the amplified electrical signal back into mechanical energy through the speakers' drivers.
Between them, those two elements, cartridge and speaker, will have the most impact on the quality of the sound your system produces (assuming you have a fundamentally sound turntable that's capable of maintaining a steady 33 1/3 rpm rate of revolution).
And, really, to judge speakers, the best thing to do is to go around to all your friends and listen to their systems. Try to determine which system sounds best to your ears (as I don't believe that there's an absolute standard by which you can "judge" speakers - eventually it boils down to personal preference). So, take the same recordings to all your friends' places, buy them some beer, and make them listen to your LPs so you can get a feel for what different systems sound like and what you like about those systems.
Then try to find speakers that sound like what you like.
See? It's all very easy.
