I have been looking for a red shoe. This one appeals to me:

http://shop.nordstrom.com/S/bc.....38;context

It checks a lot of boxes:
-leather (not patent)
-reasonable heel height
-closed toe
-ankle strap
-some detail
-affordable

My only hesitation is that the studs are gold rather than silver. I primarily wear silver jewelry. My neutrals are black, white and gray.

With a preference for silver jewelry, would the gold studs bother you? Will they still work with gray?