That's assuming that one is interested in learning how to build a bike.

I have no interest in learning how to fix the AC in my place. I just want it to work. Which is why I called a guy out to fix it in much less time that it would have taken for me to learn how to do it and cheaper than if I bough the proper job-specific tools. The same applies to bikes.

Nice frame at a sick price = 40
Custom rear wheel = 160
Stock front wheel = 140
Thomson post = 70
Fizik saddle = 60
Used Dura Ace cranks = 55
Wipperman chain = 50
Time pedals = 50
Tires = 80
Stem = 30
Headset = 25
Grips = 15
Bars = 15

So...as best I can remember at the moment that's a total of about $790.

I adore my bike, though, it rides like a dream, and not one thing on it is of questionable quality. No regrets.

Edit: note that this is also spread out over a span of time. I've gone through a lot of cheaper components along the way. The above figure just reflects the end result. A lot of the components replaced parts borrowed from another bike for the sake of being able to ride this one.

the first fg he built up was a conversion, 80s bianchi (i bought him the frameset as a birthday gift). he has sold it, and now owns the sputnik.

he's right though, what was supposed to be a "cheap build" turned out to be quite pricey, i think total cost was 500-600, and this wasn't including the frame/fork, which i bought.