^^^What they said^^^
When I looked in to buying a frag rack, I saw the price and just laughed. I have made several now. I have a couple that are acrylic that just hang over the side of the tank, a couple more with magnets counter sunk in them, and a few made of eggcrate. All very simple, with way more capacity than store bought, and all of them made for way less than just one ready made.
There are way too many things to spend my hard earned $$$ on in this hobby. Frag racks don't make the list.