The S Works bike from Specialized were to represent the absolute state
of the art without regard to price. This frame set retailed for
about $3,800 (approximately $6,000 as built) and Specialized claimed to
just break even on the frames. There was a planned run of 170 or
less frames for 1992. Merlin made the titanium lug set for the
frame, at an approximate cost of $1,700-$1,800 per set, and a team of
five builders at Specialized hand assembled them into frames.