I think most of us who build crankbaits from scratch don't go into it trying to save money. If you add up all the costs plus labor there is no way you can build one for $1.75. And that's not even taking into consideration all the tools and expendables we use on every bait we build. There are several reasons other than money why we build lures. Most of us like to work with out hands. We like building stuff you can't buy off the shelf so our lures haven't been seen by half the fish in North America. We can engineer the lures we build to fit certain applications. These are just a few of the reasons we do it. If your just looking to paint a few baits then your probably better off buying unpainted baits and painting them. I started out just wanting to paint some old lures for myself and a friend. After about a year of painting baits the "building bug" took over and I haven't looked back.
Ben