Join Date: Feb 2009
Location: Austin, TX
Bikes: Giant XTC Team Custom XC bike, Nashbar tourer custom commuter
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Not that I would use it for installation, or on a really nice frame... but I recently took off a lockring for one I was going to replace with a flat head screwdriver and a hammer. If it's steel and thick enough, a few well-placed taps will loosen it to take it off.
If you have a specific lockring in mind, there may be a cheaper alternative in a specific unadjustable model. Like a wrench for a bottom bracket lockring or something similar.