There are some who claim the tie is an endangered species, destined to go the way of the pipe, tweed jacket and monocle. However, if you're one of the few staunch traditionalists still holding onto a large collection of ties, we've discovered a tip that could be of use to you.
With a little DIY initiative, you can turn an IKEA dish drainer into a functioning tie rack. To construct the makeshift tie rack, the first thing you'll need is a Boholmen dish drainer from IKEA which currently sell for around $13. The product has a whopping 42 pegs which can hold up to two ties each.
Serena at IKEA Hackers explains how it's done (the only additional tools required are a drawer rail, drill, screws and screwdriver). Hit the link below for full instructions.
Boholmen repurposed as tie rack [IKEA Hackers]