I agree with Arne that it depends very much on how much work you do yourself. He has provided us, several times, with a good example of how to do it economically. The more you do, the cheaper it gets! I, on the other hand, chose a more expensive solution. I can only give examples in Australian dollars, but my alloy mast, imported from France, cost $4000, whereas the materials for a timber and epoxy laminated one were estimated at $1500. I recently had a new sail built for $4000 in Dacron, but making one yourself would cost a third of that, I believe. The partners and mast step were welded up by a friend and all I had to pay for was the steel and paint, next to nothing, but getting a boilermaker to do it would have added an extra $2000 at least. I can recommend the conversion. I am a solo open ocean sailor and getting a bit frail in old age, but the rig is very easy to handle. There are a few things about it that annoy me but I am willing to forgive them for the ease of handling and the gift of never having to go on the foredeck to handle the rig. Wonderful!