Powder coating comes in any color you can imagine. Depending on what kind and level of fancy you want it runs from $100 to $500. It's the prep work & set up you are paying for. Any reputable PC'er will chemical strip/media blast, de-rust in a phosphoric acid bath, passivate, then process in whatever color you want & be done in about 1 to 2 weeks.

You end up with an essentially new frame in any color you can dream. I favor Prismatic Powders high gloss, but it comes in a variety of gloss levels, textures, candy, chrome, transluscents, etc... Painters claim paint is better coverage & rust protection. PC'ers make the same claim. Both are more durable than spray paint from the home improvement store.

1 gallon of stripper, 15 dollars
3 cans of primer, 24 dollars
3 cans of Rustoleum Enamel 24 dollars
3 cans of clear gloss 24 dollars
sand paper, time, etc...no phosphoric acid derust/passivation dip

My money says a single color, 1 shot powder coat will be cheaper, simpler, and more durable finish than a home job.