I was reading a forum today where someone asked about making a cheap lightbox for photographing small items in. Funnily enough I have just made one :) I needed to stop reflections on my glass tile jewellery and this worked amazingly well. I will now be going back to some of my glassware listings and putting up better photos!
Here is how it's done. Take a cardboard box roughly cube shaped. Mine is about 18" on all sides. Cut out a square window in 3 of the sides, not the bottom of the box. Cover these in white tracing or tissue paper. Cover the inside bottom of the box in white card and what will be the base. You can add whatever color you want to stand your item on each time you set up. You can also create an infinity back drop by taking a piece of unfolded card, taping it to the top of the back panel and to the front of the base panel, bending the card but not folding.
Mine looks very crude but does the job :)