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It should go without saying, you need a motherboard to fit the processors into. There are a lot of boards out there to choose from that will take dual Xeon processors. For this build I'm going for the ASUS Z9NA-D6 serverboard.
Not only does this part offer all the ports and connectors that you want from a motherboard, it has been designed so that it will fit into standard ATX cases and take ATX power supplies. This allows you to make use of more readily available, and cheaper, components.
For this build I'm going to go for registered memory for this build and throw 24GB into the system in the form of 6 x 4GB modules from Crucial (part number CT3KIT51272BA1067). These come in 3 x 4GB kits so you will need two of them.
Unsure about how much RAM you need? Check out "How much RAM do I need?"
Price: 2 x $105.
For this build I'm going with a power supply that I've used many times and that I trust to deliver solid, reliable performance -- the CORSAIR Enthusiast Series TX750 V2 750W. This offers 750W of power, and a wide range of connectors. On top of that, it's quiet and is 80 PLUS efficient so it won't cost too much to run.