Apologies for the NDS picture, but you get the idea. Stock Mercier Kilo WT I bought for $430 about five years ago. I threw the chain into the rear wheel soon after getting it (I didn't know at that time how to properly tension a chain) and bought a new pair of heavy as hell 36 spoke cup and cone wheels from Nashbar for $60. I put on some M540 pedals, a $7 Chinese 19t freehub (which has been perfect for thousands of miles) a couple of Elite Gel Cuissi cages, a set of SKS Chromoplastic fenders (leaving a gap in the rear to get the wheel out easily) and some 36mm Clement MSO tires. I recently swapped the stem for a $15 shorter one you see here. The fit is pretty dialed now. Most of the other stuff I had lying around at the time I bought the bike. That's about it. I haven't even replaced the chain yet as the drivetrain is really stout 1/8 stuff that will seemingly last forever. I need to cut the steerer at some point, but I don't really care. For a total of around $600, I have a new, basically indestructible single speed gravel bike with a Reynolds 520 frame that handles well and requires essentially no maintenance despite riding it in some really bad conditions. I've done 4 hour rides on this without issue. I total, this bike costs less than the stem/handlebar I have on my road bike, lol.
