Join Date: Apr 2009
Location: New Rochelle, NY
Bikes: too many bikes from 1967 10s (5x2)Frejus to a Sumitomo Ti/Chorus aluminum 10s (10x2), plus one non-susp mtn bike I use as my commuter
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It depends. You almost always get the best dollar value on complete bikes vs. building them up from parts. It's often possible to get an entire bike for close to what the basic component group alone would cost, meaning the frame is almost free. Add to that the resale value of the existing bike, and considering that you'll end up with all new stuff, and it's hard to justify not buying fresh.
OTOH, if you can get a decent deal on a frame, have a clear idea of what you want, and have a small stock of decent slightly used components, building from parts means you can have exactly what you want, which might not be available as a built bike. You might also save some dough by putting otherwise idle parts back into service.
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