I used to have a smaller, very similar drying rack in my previous home (that I ordered from Ballard Designs).  That one was nice because it came pre-assembled; however, some of the racks had slight cracks in them, which I wood-glued to hold in place.  This one, from Wayfair, is larger but cost a lot less.  It had to be assembled; however, it was very easy to do so.  It's excellent quality and the racks are very sturdy.  The back of it is hung with cleats, which makes for a nice sturdy attachment to the wall.  This is great for hanging bathing suits and bras.  For the price, this cannot be beat!

Pros: excellent price, great construction, lots of hooks and bars for space
Cons: none