General guidelines for pricing

[Dave Bowen]

First, let me introduce myself. My name is Dave Bowen and I'm from the Dallas Tx area. I started making knives about 16 years ago. I started using primitive tools and materials because that's all I had at the time. My first 15 or so knives were made with a sander, a hand drill, and a grinder motor with a buffing wheel. I was using planar blades from a local saw mill in New Mexico.

I wasn't able to make knives for many years due to financial issies, and several others.

Recently I inquired with a local bladesmith about an apprenticeship because I wanted to learn forging and heat treating. I now have access to a nice shop, nice equipment, and almost unlimited materials. I produced my first two knives (forged) in the new shop and they turned out better than anything I've ever produced before.

My problem is, I don't know how to price them. I'm being told $35 per inch. Is that a good way to price a knife, or do other factors come into play?

I know my knives are decent quality, but I'm also unknown, and still have tons to learn. I tend to be overly critical on myself, and I'm second guessing the price my teacher is wanting to put on my knives. I think he's too high.

Is there a guideline to use?

Thanks in Advance,

Dave

 

[rnhood]

Pricing your product depends. Do you want your livelihood to come from making and selling your knives or, do you want to pursue knifemaking as a hobby of love, and only attempt to recoup the expenses incurred - knowing and accepting that you never will?

 

[Cougar Allen]

Welcome to Bladeforums!

 

[Dave Bowen]

I have always dreamed of making my living from my knives. At this point, I realize it will be very difficult, but eventually this is the direction I would like to go.

If I ever get to the point that I can do this full time, I would definately do it.

I think I have the talent (potential) , but lack the experience.

Edit; Didn't see you before I posted again. Thank you for the welcome Cougar.

 

[ErikD]

I think there are to many factors to say if that is a good price or not. What do the knives look like?

Are they of high quality or do they look like they were made by a beginner? (Not trying to insult you at all, just putting out something that I at least consider) I am willing to put out a fair amount of money for a maker that is up and coming if the work is really good. If the work looks only so so then I would be willing to pay less. Obviously the big name makers can put on a premium just for being who they are.

What materials and stlye are they? Are we talking Damascus and other high priced raw materials, you can charge more. Is it just plain old carbon steel and micarta or basic wood (nothing wrong with this at all)?

rnhood also makes a very good point, why are you making knives? If you want to do it for a profit you need to charge fir labor. If it is just as a hobby then maybe just cost of materials is good for you.

 

[Rob!]

Don't underprice yourself. An inexpensive knife suggests a cheap knife or a maker who dosn't believe in himself. If you don't believe in the value of your work, nobody else will either.

If you want to get your name out there, try donating a blade or two to the local Ducks Unlimited - Elk Foundation - etc.

I don't know about the price per inch though. I figure materials cost - hours of work to produce - and add a multiplier for the ones that qualify as 'eye popping'.

Rob!

 

[IronWolf]

I agree with Rob and Erik, there are too many variables to price a knife by the inch, a price that would be fine for a wood handle may not even cover materials on a knife with fancy materials. I was taught a formula when I started blacksmithing, I use it for my knives as well.

Time*Rate+(110%Materials) for wholesale price, add 25-40% retail

Rate is my shop rate, which includes my pay(what ever I think I am worth) , electricity, utilities, and all other shop expenses. Materials includes not just what goes on the knife, but the expendables used to make it. Belts, glue, fuel if that wasn't figured in your shop rate, sandpaper, drill bits, etc. BTW, While I have made production runs of hooks and small iron trinkets, I have not made a run of knives large enough to justify a wholesale price, I have found that I need to make 40 or more of an item to really justify a wholesale price, otherwise setting up and changing tooling eats into your costs too much.

Good luck to you,
Ken

 

[jdm61]

if you are a newbie like me, you had bettr charge minimum wage, at best, when calculating your labor cost. And you don't get to charge time for the parts you messed up the first time around

 

[farmerjon]

Welcome,

I was told one time by a friend of mine who runs a cutlery shop in La Mesa Ca. that eventually all knives sell. That is something to consider. I also saw a guy who had bought a knife write into this forum and ask if the knife was worth the price he paid for it. One brilliant reply was That it apparently was to the last person who bought it

But seriously, it is a good question and one that I am considering myself, as I retire from the military in 19 months and would like to pursue the same line as you.I like the equation presented above. Sounds very professional and very fair in considering the incredible labor of love that goes into making a knife.

Please, do not sell yourself short. Your time is worth a lot, and you obviously love it, so get paid for it!

 

[bjalongi]

Welcome.

How about some pictures? That would tell more than you think. I'm sure the extremely experienced folk in this forum could help you better and save them from asking superfluous questions.

I'm interested in seeing your work, if for nothing else...

 

[Dave Bowen]

All great answers. Thank you for taking the time to respond.

I've only completed 2 knives since I've started forging my own blades. Both were forged from 1050. One is a fighter (blade is 10" long) with nickel silver bolsters, reconstituted black MOP scales, and the blade has been etched to show the hamon. No workmanship flaws, except one small petina near the tip. I was afraid to take anymore material off.

The second is a Natches river bowie. Etched blade with 3 distinct hamon lines, and some other very noticable features in the blade. It has brass bolsters and butt with padauk scales. There is no glue anywhere, as it was all hand fitted and pinned together. I think it's beautiful.

They don't look like a beginner made them, as I have been making them for some time, but I'm new to forging, and definately new to selling.

If it's permittable, I will post a link to pictures. I don't have a pic of the bowie yet, as it's still at the shop with the wood finish drying.

Thanks again, and I look forward to learning more.

Dave

 

[Dave Bowen]

Here are some pictures, first of both blades before I mounted them. The other pics are a couple I made a while back, and the long fighter in the middle is recently forged and finished.