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@kam
the frame looks quality, but not cheap. i got a nice diamant frame for £5 on ebay. Just put your head down and scout out some parts that look dodgy but are nice inside :-) Besides i had a really decent build for £400 with sugino cranks, cheap but good wheelset and nitto drops (+ a78 viner road frame - bad paint but great frame). Your maybe wanting something too showy (wheels + paint) for your budget?