Clearance sale?

J

Jason Fry

Knifemaker / Craftsman / Service Provider
Joined
Jun 5, 2008
Messages
3,160
I made about 50 knives last year. I still have 6 or 7 on hand, one from last January and several from April, plus a few higher end pieces from the end of the year.

Should I mark down some of the old stock and clear them out at "clearance" kind of prices, or keep holding on?

I've been told by the old men to raise my prices, and did. Now I have inventory, like I never had before. I don't think I'm out of line, price-wise, but the increased pricing has slowed the sales. Since I sold 42 out of 50 at my regular pricing, I don't think I'm way off, but I have to figure out what to do with the leftovers.

Any advice?
 
It depends. Nearly every business runs sales now and then for holidays, hunting season, tax return time, big trade shows, end-of-year overstock, etc. Does that foul up their business the rest of the year?

On the other hand, if you think it will undercut future prices, or tick off previous customers, or might influence people to say, "Hmmm, I want a Fry knife, but I'll wait six months until he drops his prices/has a sale again"... then no, don't do it.

On the other, other hand I don't necessarily think there's anything wrong with just being honest and saying you want to clear your bench for new projects and offer 10% off or whatever as a new year thing.

Perhaps more important in the long run is looking at which knives sold and which didn't, and trying guess "why".

In other words... I really have no idea. :p :o
 
Lol, that's my reasoning exactly, James. I can argue both sides.

I am convinced it won't foul up my business for the rest of the year. I have orders enough to carry me through March, and a show to prep for in June.

Point two is the sticky one... I think I might can get around that because of point 3.

I really want more tools :) I just finished paying off some family debt, so my tool buying fund is available again for actually buying tools. I'm thinking maybe a "Jason wants a welder" sale, or maybe "Jason needs a mill" sale would be ok as an end of the year clearance combined with a good excuse.
 
Jason Fry said:
Lol, that's my reasoning exactly, James. I can argue both sides.
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I know, right? :confused:

It really comes down to how badly you want/need the money. A "New Shop Tools Fund Sale" sounds perfectly reasonable to me.

Then again, an "I'm Tired of Drinking Cheap Rotgut and Want a Good Bottle of Bourbon This Week Sale" sounds reasonable to me, too soo.... *shrug* *shrug*
 
I see other Makers re-list knives all the time on the for sale section,at a reduced price with no explaination.Other than just trying to move product.
 
Alright, I put one out there at about a 16% discount, which amounts to $100. See what happens. I've got two more that may go "clearance", and I have quite a few more that I think I can move through my regular channels eventually. Well on the way to the welder, but I found this Glock... lol.
 
Do you have any local knife shows this year that you could attend? It might be a good place to off load some of your old product and to get some new customers. Just a thought.
 
james terrio said:
I know, right? :confused:



Then again, an "I'm Tired of Drinking Cheap Rotgut and Want a Good Bottle of Bourbon This Week Sale" sounds reasonable to me, too soo.... *shrug* *shrug*
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Where is the friggin like button:thumbup::D
 
As it turns out, there's a gun show in town this weekend. A friend of mine had two tables, and called to see if I wanted one. So, there you go. We'll see how it turns out!
 
Good luck at the Gun Show Jason. The good one around here has went very downhill in the last 18 months.
I have still managed a sale or two but the attendance for both exhibitors and customers has really slacked off.
 
Supposed to be 34 tomorrow with freezing rain in the morning. Bet the crowds are going to be great :rolleyes:
 
Jason Fry said:
I made about 50 knives last year. I still have 6 or 7 on hand, one from last January and several from April, plus a few higher end pieces from the end of the year.

Should I mark down some of the old stock and clear them out at "clearance" kind of prices, or keep holding on?

I've been told by the old men to raise my prices, and did. Now I have inventory, like I never had before. I don't think I'm out of line, price-wise, but the increased pricing has slowed the sales. Since I sold 42 out of 50 at my regular pricing, I don't think I'm way off, but I have to figure out what to do with the leftovers.

Any advice?
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Jason,
If you have eight left out of 50 you are right on the money in pricing.

I've seen lowering prices be the kiss of death! They don't eat and don't take up much room. Keep your children till you get your set price.

If a customer that bought at regular price hears from another that they got it for less? You can usually forget ever getting a sale at full price from ether customer ever again. The custom knife world is very small and people talk with each other. Like here!

You are a custom knife maker/Artist! You don't make some mass produced item that's sold in a January white sale.

No sure if I'm one of the old men you are talking about? ;)
 
Not picking on old men as a group, just not wanting to name drop either.

Ended up selling one today, but not one of the slow movers. Still, sales are sales. Better traffic than I expected, and I picked up a zipper case and a new mag for my new Glock that found me on the way to the welder store :) Maybe I'll sell another one or two tomorrow. A lot of interest in my higher end pieces, and not too many folks even balking on the pricing. I'm right behind a guy with a table full of sub 100$ saw blade knives. Not bad designs, but rushed fit and finish. He hasn't sold a one.
 
Jason Fry said:
Not picking on old men as a group, just not wanting to name drop either.

Ended up selling one today, but not one of the slow movers. Still, sales are sales. Better traffic than I expected, and I picked up a zipper case and a new mag for my new Glock that found me on the way to the welder store :) Maybe I'll sell another one or two tomorrow. A lot of interest in my higher end pieces, and not too many folks even balking on the pricing. I'm right behind a guy with a table full of sub 100$ saw blade knives. Not bad designs, but rushed fit and finish. He hasn't sold a one.
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Great! Glad you sold one today. The customers I want think Quality first and price second, since your fit & finish looks better than mine these days I'm sure you will do fine with that same discriminating buyer.

A buddy that was older than me many years ago when he had hi 55th birthday simple said.

I'd rather be OLD than COLD! :) I remember that every year when my birthday rolls around.
 
Sold the walrus knife, at a better price than I had it listed here. Never know how the local shows will turn out, but this one has been real good so far.
 
What are you getting for a welder? Today I picked up a lincoln 210 MP and it is alot of welder for 999. I also happened to get a finger control tig torch off craigslist a few weeks ago that will fit the welder with an adapter for 75 bucks.
 
Nice John. I'm thinking about one of the 180 class 220v migs. Want a Miller, Lincoln, or Hobart. Don't see them used much out here, but once in a while. New, maybe 8-900 range without much to go with.
 
Jason - I'm in the same boat.

I have five pieces, built over the past year, that are still hangin' around. I dropped the price on three of them once, slightly, here on this forum with no takers. In my mind, these are pieces with style, quality materials, high-level fit and finish, and proper pricing. So, do I go lower, not getting the value I believe is due and possibly risk Laurence's "kiss of death", or do I put new shoes on the kiddo and heating oil in the tank?

Its a balancing act of sorts. I've chosen to not go lower. However, if the oil tank dries up... priorities.

You have been producing some really fine work lately and your pricing is spot-on... if not too low. Your work will sell.

-Peter
 
P. McKinley said:
Jason - I'm in the same boat.

I have five pieces, built over the past year, that are still hangin' around. I dropped the price on three of them once, slightly, here on this forum with no takers. In my mind, these are pieces with style, quality materials, high-level fit and finish, and proper pricing. So, do I go lower, not getting the value I believe is due and possibly risk Laurence's "kiss of death", or do I put new shoes on the kiddo and heating oil in the tank?

Its a balancing act of sorts. I've chosen to not go lower. However, if the oil tank dries up... priorities.

You have been producing some really fine work lately and your pricing is spot-on... if not too low. Your work will sell.

-Peter
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Guys,
Believe me I know it can be tough sometimes like with the rent is due and you need money to give to the wifey for food! Hold your ground and if you do have to let one go for less, I wouldn't do it here.
 
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