Even my expensive looking roadbike is a frankenbike that most people would have taken to the scrapyard: a specialized sirrus frame that had a burst in the chainstay from water freezing in it. I patched it with carbon and ran it as a single speed with some used parts, and eventually bought bar-end shifters and derailleurs for it and it's back in business.

I have a no-name raleigh single speed that looks nice from far away, but up close the fender stays are warped, the front fender has been bent back from a bad crash, the chrome on the wheels is all pitted... but I ride the hell out of it and don't see myself parting with it for a while, it's too good of an all-rounder.

I also love the word bikeknacker.