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@Smallfurry
Off The Peg. ie ready to ride
Can I suggest something like CB (custom built to your size, specs etc.)
and HB (Home built from OTP frame and components).
We seem to be switching between the two and its giving me a headache :(
My bike comes under the HB category, and is most likely of lower quality than a equivalent OTP. This is because it was put together by a hammer swinging chemist and not a bike mechanic. Add to that the fact that I've spent £1k putting together a bike worth about 8-900, and the whole venture seems hugely unprofitable.
I've learnt loads though, and enjoyed every minute of the process. The bike certainly was'nt put together with any great degree of skill, but I definitly put a lot of care into it.