Cheap or Chic?

I brought this dress from Rave. What do you guys think cheap or chic? I love the color and the style of this dress. My only complaint is that the back rides up and the front hangs longer. Don't know if it's because it's cheap or is it cause I'm bootylicious! LOL You guys know I love me some Kim Kardashian (Kim K) and Lauren Conrad (L.C) & this dress reminds me of something they would wear. Be a star for cheap:)
Found at: Rave
Price: $34
Color: A rich royal blue
Pros: Cheap; has a cute detachable belt that can be worn with something else
Cons: Not the best fit