DETERMINING THE PRICE OF ONE OF YOUR KNIVES???

L6steel

L6steel

Joined
Sep 23, 1999
Messages
5,855
HOW DO MAKERS DECIDE HOW MUCH YOU WILL ASK FOR A KNIFE? IS IT MATERIALS AND SO MUCH AN HOUR FOR YOUR TIME? HOW DID YOU DECIDE ON AN HOURLY RATE??

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"Always think of your fellow knife makers as partners in the search for the perfect blade, not as people trying to compete with you and your work!"
 
That is something I have been trying to determine myself.
For a ball park figure I figure it out for so much per inch, but materials and costs vary so this is just for a rough guess.
5 yrs ago I averaged about $2 an hr, now I average about $10. My quality has improved and continues to do so. I know of a couple of makers who average about $50 hr, but the demand for my work isn't enough for me to charge that much. Plus they can make the same knife in half the time it takes me. (better equipment).
My final price decision goes on what I feel a fair price for the knife is, and how much I would pay for it.

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There is no such thing as "good enough", either your work is good or it is not. How is your work?
 
Best advise I think I can give is "keep your knife prices in scale to one another". I see makers charging $10 more for a knife that should be $100 more. I also sometime see them charging $100 more for a knife that should only be $10 more. Keep in mind to, that if you lower your prices you will hurt someones feelings. Particularly the person that paid the higer price. In other words, be careful not to raise prices to high. Don't undersale your time. Also don't undersale the market. Above all, be fair in your pricing to yourself and to your customers.

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Lynn GriffithMy website
GriffithKN@aol.com


 
Basically it will be as you said, materials and $ per hour. But it will often depend on a lot of other factors, such as reputation, experience and equipement of the maker, type of knife or even the market you are selling to, just to name a few.
I am forging knives as a hobby and have experienced, that the more time there is in a knife the less i get paid for the work. I am making a lot of viking, celtic and roman using designs, which are all just forged, even the handles. People love them, because you can see that they are forged and i can take about 20 $ an hr for the work. Selling my self made damascus knives is much more difficult and i can get only up to 10 $ an hr for them.
I think, hagar is right in his opinion about the final price decision.

Achim
 
When it comes to pricing remember that it all boils down to what it is worth to the buyer. Of course the makers materials and more importantly time are to be taken into consideration.

It is often the little things that make the buyer decide it is worth it to fork over his hard earned money.

Little extras like: filework, cool handle material, fancy pins, thong hole with a little braided leather in it, and maybe a concho in the leather sheath....? Most of those things do not cost that much in time or material , but do make the knife "special"
 
I'm very new to the whole Custom knife market, and I've got alot to learn.

This is the Free Makrket, and Supply and Demand has to be a factor. Some makers are just going to be more prolificate, better equipment, better materials, more experiance.

A custom knife is worth exactly what someone else is willing to pay for it, and be satisfied. I look at custom knives as works of art, and art is never easy to put a set value on, let alone put an hourly rate on.
 
take the time you spent on your knife... multiply it by the years youve been making them (round off to the low side) multiply by 10...divide by 2 and there you have it.. sorry but i couldnt resist that one...actually....look at other makers who are in the same league as you as far as quality and experience...and that is a good judge...i have seen a lot of guys price their stuff too high cause it takes them a long time to make it...that is the price of experience...you are paying that...not the customer....in the beginning i sold my hunters for under $100 and they took me twice as long to make as they do now and i get 2.5 times as much....you also have to build a client market....they are going to pay what they feel it is worth...if you charge too much they wont buy or will feel they have been wronged later on...the main thing you want to do is get a fair market value for what you have spent a lot of time and effort on....and only you can say what that is....

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http://www.mayoknives.com


 
Lynn.... Tom.....
I'm sure it took some thought for you to answer this one!! I'm glad you did!!
Kit, Allen, Darrell, I would appreciate hearing your views on this topic!!
I am all ears!
As much as I streamline my knife making processes, I don't think I could ever make the same money that I make as a machinist. This is considering pay,benefits, vacation, etc. I would much rather make knives than write CNC programs or count parts that come out of one of those machines!!
How you full time pros price your work and make a living at it, is of great interest to me.
I know this is probably like talking about hemeroids or something! So even vague, general information is appreciated.
Neil

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http://www.geocities.com/Eureka/Meeting/5520/index.html


 
its funny...cause i dont know very many high end knife makers (i do know a few)...i am talking HIGH end...long waiting list... sell all their knives...only bring 3 to a show.. but i do know a few of the best surfboard shapers in the world...and like the knife market...10 percent of the guys get the lions share....the ones that i know turn down work constantly...make over..over...$100 per hour...and have people following them around begging them to shape them a board....they shape for the top surfers on the pro circuit..and they got there just like everyone else...one step at a time...paying their dues and working hard.. but it seems time and circumstance were very favorable to them....and a few chance events made all the difference in the world...so pay your dues...work hard...and hope for the best. also...be your worst critic...then no one will complain...its especially hard as you get better.
 
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