Carpe Velo
Join Date: Dec 2011
Location: Fort Worth, Texas
Posts: 2,519
Bikes: 2000 Bianchi Veloce, '88 Schwinn Prologue, '90 Bianchi Volpe,'94 Yokota Grizzly Peak, Yokota Enterprise, '16 Diamondback Haanjo, '91 Bianchi Boardwalk, Ellsworth cruiser
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I've done both. I built my '92 Schwinn Crosscut up from a frame I bought off of craigslist and spent 3 months finding the components I wanted on Craiglist, Ebay and swap meets. Not including the Brooks saddle, I think I spent about $450 on it and ended up with a bike that I feel is comparable to new bikes running around a grand. Even if I had bought something complete, I would have changed some components to suit me and that would have added to the cost.
It wasn't my only bike, however, so I had all the time I wanted to find the right parts at the right price.