Parts List:
1" schedule 40 PVC pipe (1) - $1.18
1" schedule 40 PVC Tee  (2) - $0.54 each
PVC Glue (Low VOC) - $2.12 (optional)
Pipe Insulation 3/8" for 1" copper pipe (1): $1.85
Chain, Rope, Twine, cord, etc.
Screw-in Hooks (4)
1/4" x 1.25" bolts and matching nuts (4)

Required Tools:
Hacksaw or PVC pipe cutter
Drill
Screwdriver
Crescent wrench

Instructions:
1) Cut PVC pipe into four 12" pieces
2) Insert these pipes into the tops of the Tees

3) Put the remaining pipe, which should be about 48" long,
    into the empty holes in the Tees.

4) Adjust all joints so that the whole thing lies in one plane.
5) Glue each joint with PVC glue (optional).
6) Cut the pipe insulation to the appropriate length and
    put around the PVC pipe as shown below.
7) Drill holes (1/4") through the end of each exposed pipe

8) Put 1.25" bolts through the holes and secure with the
    appropriate nuts.  These will serve as attachment points
    for the chain or rope that the rack will hang from.

9) Cut 4 pieces of rope, chain, etc. to the exact same
    length, and attach to the bolts that you previously
    installed.

10) Put threaded hooks into the studs in the ceiling,
        aligning them as closely as possible to the 4 corners
        of the rack.  Attach the rope or chain to the hooks.
        You're done!

Parts List:
1" schedule 40 PVC pipe (1) - $1.18
1" schedule 40 PVC Tee  (2) - $0.54 each
PVC Glue (Low VOC) - $2.12 (optional)
Pipe Insulation 3/8" for 1" copper pipe (1): $1.85
Chain, Rope, Twine, cord, etc.
Screw-in Hooks (4)
1/4" x 1.25" bolts and matching nuts (4)

Required Tools:
Hacksaw or PVC pipe cutter
Drill
Screwdriver
Crescent wrench

Instructions:
1) Cut PVC pipe into four 12" pieces
2) Insert these pipes into the tops of the Tees

3) Put the remaining pipe, which should be about 48" long,
    into the empty holes in the Tees.

4) Adjust all joints so that the whole thing lies in one plane.
5) Glue each joint with PVC glue (optional).
6) Cut the pipe insulation to the appropriate length and
    put around the PVC pipe as shown below.
7) Drill holes (1/4") through the end of each exposed pipe

8) Put 1.25" bolts through the holes and secure with the
    appropriate nuts.  These will serve as attachment points
    for the chain or rope that the rack will hang from.

9) Cut 4 pieces of rope, chain, etc. to the exact same
    length, and attach to the bolts that you previously
    installed.

10) Put threaded hooks into the studs in the ceiling,
        aligning them as closely as possible to the 4 corners
        of the rack.  Attach the rope or chain to the hooks.
        You're done!