Put it this way, for an assisted sharpening system, the Sharpmaker is very fairly priced. I see online deals for less than $45 right now. DMT aligner is similar but with a different type of media.
And the good thing about the Sharpmaker is that you can wrap the rods with sandpaper for aggressive reshaping. I don't think you're in need of that unless your knife edge is completely dull. Ceramic sticks are effective with any kind of steel out there and are long lasting.
If you're looking for a cheaper way, you're looking at natural bench stones. That will require time and practice on cheaper knives before you get your $400 knife near it. At least with the Sharpmaker, it's a much smaller learning curve. The only thing you need to remember is to keep the blade vertical and not to run the tip off the rods.
Absolute lowest cost might be sandpaper over a flat hard surface in several grit steps but it's only cheap for the short term. You will need to keep buying more since sharpening will wear them out quickly. Also, this has the same learning curve as hand sharpening.
EDIT - Looks like Richard mentioned paper wheels. I love my set and the speed and quality of the results are amazing. It pretty much the best option for a powered sharpening method in terms of fairly low cost and time saved. If you're serious about sharpening, it's worth it. There are a ton of options out there but trying them out to see what works can cost you a lot of money and time.