I had three hobbies running concurrently, two of them very expensive, and one only moderately expensive. I finally abandoned photography and model railroading as being too expensive to continue at a meaningful level. Bike restoration can cost a lot of money, but I'm also seeing some light at the end of the tunnel. I'm buying the necessary tools as I go along, and I'll only have to buy them once. I'm making fewer mistakes as my knowledge expands, so there are fewer butchered parts that must be replaced.

My first foray into C/V involved going out and paying top dollar for a bike that was already 75%. I just didn't have the patience to wait for a 'bargain'. Before I could get started on the first bike, I found a deal on Craigslist, and that one will be done first. My '$100 bike' has already doubled in price with the purchase of correct bars and levers, and will cost a bit more for proper-looking skinwall tires. With the addition of bar tape, cables, brake pads, and a few other miscellaneous items, I'll be into it for about $350.00 plus a bunch of sweat equity, which in my case isn't all that valuable.

Is it worth it? From a purely economic standpoint, probably not. On the other hand, I've had more fun with that $350.00 than I ever had with cameras or model trains, and when you compare the quality of my $350.00 bike to ANYTHING being sold these days for under $1,000.00, it looks like a steal. Will I do it again? You betcha'.