Update 8/5/14: The sale has been extended from July 31st to August 7th.
Motorola loves discounting its flagship Moto X phone at every possible opportunity. The latest is the nebulous "back to school" season, but I think they were just getting itchy - it's been a whole week since the off-contract Moto Maker editions of the X went on sale. Right now you can pick up a standard 16GB Moto X for $299 ($100 off), the 32GB model for $324 ($125 off), and the 64GB model for $374 ($125 off).
The fetching wood panel options are $25 add-ons and don't affect the discount, so you can grab a fully-loaded 64GB Moto X with a wood back and your choice of front and trim colors for $399. That's a bargain in anybody's money, but since this promotion is limited to the US version of the Motorola store, you'll have to pay in dollars. The price discounts are good until July 31st.
Verizon apparently still isn't interested in offering the 64GB version of the phone, so 32GB is the highest capacity you can get on Big Red. (The Moto X does not have a MicroSD card slot.) The GSM and Verizon developer editions of the Moto X are also on sale, for the same $324 price as the locked 32GB models. Go forth and save, y'all, but remember that the Moto X is almost a year old at this point, and so it's due for a hardware refresh soon.