While I can appreciate your love for saving money, it’s sometimes cheaper and smarter to purchase certain items.
Ah the rationalization tome of the American consumer. As a former president of a manufacturing company, I'd guess they make your detector for $75. Charge $800. Hey, nothing wrong with feeding the economy if you don't mind throwing away $800 and have no electronic knowledge or skills! That is what they are counting on. Me, I could make a workable metal detector for the $50 bucks mentioned and just a few relaxing evening's work.
Just sayin.' I'm sure there are even plans for making one on the internet. For another $150-$200, you could buy all the tools needed to make it if you don't own a soldering iron, etc., and still be $600 ahead to be used on something else!
I guess I'm just thrifty. There's someone on USMB that must have at least $150,000-$200,000 tied up in his store bought stereo. I've made a better one myself for $8,000 and change. Why do you think people start companies to make and sell products of their own? They get rich if they do it half right. But to each their own.
I'm an electronics tech and a bit of an inventor, myself.
I have actually tried to build my own detector before and I have also tried to improve / modify cheaper detectors to make them work better or more my liking.
In fact, I still have an idea that I am determined to try, someday. . .
That said, I usually end up frustrated and miss a lot of time that I could have been out there finding things.
Modern detectors are (like you said) very expensive.... but given just a little bit of luck and a reasonable amount of research, time in the field and practice, even the most expensive detectors will pay for themself in more than one way.
So, I do both.
I buy the highest end (easiest to use and most durable) that I can afford... and when I have the time, I also dabble in designs and ideas of my own.
If I can ever build one as good as or better than any I have bought? I will be trying to capitalize on those things too.