Customer Input. Pricing

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Fiddleback said:
Guys, the times are terrible and I'm loath to do this, but I haven't raised prices on my knives since I started making them, and I think the time is coming. Please give me your opinion regarding this. My knives aren't tactical, but they're good tools, and I think they're worth a bit more. What say you?
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I say yes. But you already know that.;)

The real question: how much of an increase should you charge?:confused:

Regardless, I'll still be your customer. [Now ... if we could find another few hundred ... you'd have a solid base.]
 
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okbohn said:
Your knives are a bargain. They are worth every penny and that would not change at a higher price.

I have handled a lot of knives. Yours are among the best.
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See?:)

I'm just a general customer ... this fellow is a professional.:D

However, I think it would be "cool" (as they say) if you could still retain some form of budget line. A great way to hook some life-long customers ... ;)
 
Fiddleback said:
Man, that hurts, I consider myself a maker of user knives. The Nessmuk is selling for $150 shipped with a sheath currently. Thats cheaper than Bark Rivers, and those are production. Your business is important to me, and I enjoyed making that knife for you.

Can you please show me an example of a handmade knife that goes for $100 or $125?
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Andy,

I no way was I attempting to do you harm or hurt your feelings. I was trying to say that your knife looked too good and cost more money than I would normally spend on any tool; basically that I thought your blade "the Nessmuk" was more heirloom quality. Considering how this year has treated me it was more money tied up in something worth giving to kids (I currently don't have) than I had sense to spend. Frankly, I like your designs and your art better than most and would love to own another one of them. Problem is that I feel really guilty about using a knife that I spend $200 on to whittle.

Jason
 
ursusrubrum said:
Andy,

I no way was I attempting to do you harm or hurt your feelings. I was trying to say that your knife looked too good and cost more money than I would normally spend on any tool; basically that I thought your blade "the Nessmuk" was more heirloom quality. Considering how this year has treated me it was more money tied up in something worth giving to kids (I currently don't have) than I had sense to spend. Frankly, I like your designs and your art better than most and would love to own another one of them. Problem is that I feel really guilty about using a knife that I spend $200 on to whittle.

Jason
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No worries Jason, I was just using the expression. But the sentiment is common with the folks I'm targeting, IE the real user that has his knife out with him on a regular basis. I want folks to whittle with them. I do.
 
pitdog said:
I fully agree Andy, they are worth more ( most of them ) than you are currently charging. The problem is that they are already more or less outta my price range and I'd imagine many others are in the same boat.
Maybe you should do a budget line and a high end line.

Budget line, Basic micarta slabs, basic flat grind.

High end line, fancy wood slabs, handle liners,scandi or convex grinds etc.

Just a thought !
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sounds like a sound proposal

i am only interested in buying Homegrown knives made by the guys on the forum. my philosophy

Fiddle, do not price yourself out of the market.
hang in there for the long haul
buzz
 
Yes, I think you could definitely charge more for your knives, but the problem with that is that the higher you go, the more customers you lose, and once you get to a certain level, alot of these knives will go from users to collectors.

That being said, I think you could increase your prices modestly and retain almost all of your client base. And with the higher prices you'll probably attract new customers who previously based the perceived quality of your knives on their price.

One thing I'd say is don't do a budget line...yet. You've made your name by the quality of your knives, with your handles being the real standout. You don't want to dilute your brand. When you get much wider recognition, then come out with your budget line.
 
Yeah, a real "budget" line wouldn't be good, but some more basic off the shelf models with maybe two or three colors of Micarta might bring in some new customers. No shortcuts on quality though.

I buy everything with an eye towards value. Quality/features versus price. At a certain point the lines on the graph cross and you enter the realm of diminishing returns. I usually buy one notch above the equilibrium point.

Like guitars. I recently bought a Seagull. I could have afforded a Taylor, but the increase in quality was not enough to justify the increase in price. I am very happy with the Seagull and will probably buy another. So Seagull wins twice and Taylor not at all.

Once a knife gets into the "collector" price range I have no interest in it anymore.
 
wintermute said:
One thing I'd say is don't do a budget line...yet. You've made your name by the quality of your knives, with your handles being the real standout. You don't want to dilute your brand. When you get much wider recognition, then come out with your budget line.
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You know, I have to agree now that I think of it. I associate Fiddleback Forge with very nice, high quality knives with great looking handles.

Perhaps in the future, you can create another line of less expensive, simpler knives under a different name - like Spyderco Byrd, Swamp Rat/Scrap Yard, etc. Just a thought.
 
wintermute said:
Yes, I think you could definitely charge more for your knives, but the problem with that is that the higher you go, the more customers you lose, and once you get to a certain level, alot of these knives will go from users to collectors.

That being said, I think you could increase your prices modestly and retain almost all of your client base. And with the higher prices you'll probably attract new customers who previously based the perceived quality of your knives on their price.

One thing I'd say is don't do a budget line...yet. You've made your name by the quality of your knives, with your handles being the real standout. You don't want to dilute your brand. When you get much wider recognition, then come out with your budget line.
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I totally agree with all of this. You do a great Job Andy. Although I dont have my lady finger yet, it is a beauty and I cant wait to hold her in real:)
 
Andy...sorry if this question has already been addressed....but are you happy with the number of knives you are now selling?
I recently sold 4 sheaths to a fella at $40 each....when he was looking them over, he told me that he would be willing to pay up to $75 each for such quality....a great compliment for sure, but it got me to thinking. Should I continue to pump them out one a day at $40 each, or can I slow down a bit and move maybe just 3 a week at $75 each?
I'm gonna loose customers who are not willing to pay that much for a sheath.
My numbers are much smaller than yours, but I think you get the point(?)

Another way of putting it.....in today's economy, I don't know if it's a good idea to increase the cost of anything.....BUT, if you can't keep up with the demand at your current pricing, then maybe it IS time to increase your prices.

As my best friend used to say about taking a girl home from the bar....you'll never know unless you try.
 
No. THis is not a move I'm doing to try to supress demand. Its just that the knives themselves are worth more IMO. The skills in the last year have progressed, and the prices are the same. I put more and more work into each one, but haven't addressed that in the price. So I just think its time for some increase. Not much for sure.
 
Fiddleback said:
No. THis is not a move I'm doing to try to supress demand. Its just that the knives themselves are worth more IMO. The skills in the last year have progressed, and the prices are the same. I put more and more work into each one, but haven't addressed that in the price. So I just think its time for some increase. Not much for sure.
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It's a tough call. Might be a good idea to discuss this with some guys who've been in the business for a few years and see what they think about the balance between budget and profit.

The truth is your knives are beautiful. Unfortunately I haven't had the chance to get one of your current crop, but from the look of them, they are worth more than you charge.

I've made a few knives, enough to tell me that if anybody really charged for the time they put into a particular knife, nobody could likely afford them. But in the end, a knifemaker has to eat, just like everybody else.

It does make sense to perhaps have a budget and a premium line.

Andy
 
Andy,

You could always try charging a bit more for your knives and then see what the result is. The formula is pretty simple: #units sold X profit margin = income. The big question is, if you increase your margin, will you lose sales? May only be one way to find out: do it. I'd guess that you could raise prices 5-10% and keep your current customer base easily. The great thing here is that you can use the Maker's For Sale area to experiment with pricing and see what sells for what money. This is a tough time of year to raise prices because people's discretionary income is down, so it may be better to judge after the new year. And definitely wait until after you've made my KPH. ;)

You make a great knife, thanks for doing what you do. :thumbup:
 
Raining had some good points about the webpage.

My one and so far only custom is Andy's Hunter which I bought myself as a gift. And I'm from Finland, the land of quality puukkos and leukus. With the end price I paid (shipping, duty, VAT) I could have had for example a forged Jukka Hankala hunting knife locally. But I still feel the Fiddleback was worth it. I've been a BF member since 2002 and "buscraftwise " identify myself here (meaning WSS) not some Finnish forum. This is were I drool over knives and other gear and read stories. Therefore it was an easy decision for me to support a maker from WSS.

Andy's knives are worth every penny and then some, but as an overseas customer I must say the pain limit is quite close with the end price allready being ~30% more than for an US based customer. If Andy sees the need to charge a bit more for his work I'm all for it, though for me personally it then becomes even bigger decision if I can afford another one.

I don't know about the "budget line" but one or two entry level priced models for attracting new customers might be a good way.

Sami
 
Andy,
I am new to custom built knives, but not new to knives. I paid a lot more for an equivalent to your Runt series. I believe you could get more for your knives, how much, I don't know. From what I've seen on this forum you are lower priced than equal knives.
Just remember, repeat business and refferals.
 
Andy,
I've been admiring your knives for a while and was drawn to your forum tonight. I truly sympathize with your situation. This economy has forced many companies to lower prices to stay competitive, including the small bussiness that employs me. If you are producing and selling as many knives as you can or want to, raise your prices. If you are not and want more business, lower your prices and attempt to grab more of the market. You hopefully will make more take home money for your family, however a little less per piece. Probably not what anyone wants to hear, but there is only so much of a market and this is a strategic economy. Your knives look great and comfortable too. I'm contenplating my next aquisition now. Your prices look very reasonable also. Best of luck with your decision.
Respectably,
 
How much of a price increase are you thinking about? 10%? 25%?
I think most of us that already own and enjoy your knives, wouldn't balk at a 10-15% increase. We are aware of the quality, ergonomics, grinds and functionality of your knives.
I also think that potential customers, seeing your knives listed for 15% more than before, wouldn't be turned off. For that much, your knives are still a bargain.
If you're not making enough from the sales of your knives because you under price them, then you need to make a change.
 
Do what you gotta Do and dont worry about it. Your time is Your Time. When I had my little girl 4 years ago I went up. If I am being pulled away from my family it does have a price attached to it. I'd imagine you have commitments as well and your due some change. You have produced alot of knives and should feel like you know what you need to do.

IF you were on your first 50 I'd stay put but your no longer in that catagory. Congrats Brother!!
 
I feel for your situation, however this economy most likely is not at its lowest point yet, so i would recommend planning accordingly. If i could afford another knife "which i do not need because i already have way to many" i would buy one of yours with great joy, but i cannot. I do wonder how many of the knives that were sold through blade forums were purchased by people not unlike myself. Maybe i can save some more and see where this all goes.
 
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