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@edscoble
unless you know how to build the wheel, don't forget to add the labour cost of getting the wheel build, the spokes (average is 60p each which is about £20 for 36 spokes), the nipple, etc.
and then it didn't seemed that cheap anymore, I paid £100 for a rear wheel build with System EX (£25) hubs, Velocity Fusion (£25), spoke (£26), and lastly, the labour cost for a wheel build - £25.
that's in central London.