Walt in PA used Fiverr to make his new logo and it turned out fantastic. I've never tried it myself but seems like people get good results from it sometimes?
A couple of years ago, I tried Fiverr for a blog logo. I was massively disappointed by the entire experience. I thought I was clear with what I wanted but all I got back were proofs using various pieces of clip art.
The experience was so bad I swore off creative work from Fiverr. I used it for odds and ends like plugging my info into templates but that was the extent of it.
A couple of years ago I hired a graphic designer to make the logo for my business. It was significantly more expensive but the process was seamless. He took my ideas, created several proofs, then worked with my partner and I to refine the design until we were happy.
When it was time to come up with a logo for my Motovlog, I knew the designer I used for my business was out of the question. I couldn't justify investing that kind of money into a hobby. So I reluctantly turned to Fiverr and spent a considerable amount of time looking through portfolios.
I think I spent somewhere in the neighborhood of $65 for the logo I have now. I submitted some ideas to the designer and he came back with two concepts to choose from. One I didn't care for and the other is what I'm currently using.
To make a long story short, Fiverr can be a good place to get a logo designed but it is well worth spending the time to look over portfolios until you find someone that does work you like (and to make sure all of their designs aren't too similar)