Knife pricing

A

AmericanAsApple3.14

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Sep 10, 2014
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801
Hello, I'll first say that I'm not a knife maker so hopefully I'm allowed to post here... Let just say I'm the guy walking up to the table, butting into your conversation, and very happy to meet you!

I've noticed some awesome craftsmanship in the for sale area. From simple to complex there's a wealth of talent here and on some of these knives it really makes me wonder how you guys make any money. I'm honestly not complaining a bit as I can't afford some of the more expensive pieces (though with the skill and talent involved I know they're worth the price).

I ordered a custom knife from Levi Smith. It was cut from bar stock, with CF and G10 handle and an acid wash blade. I won't say how much I paid except that I definitely got a great deal for the quality of work I received and I know he has a lot of $ tied up in his time and equipment.

I know most of you probably have other jobs and this is a hobby, so maybe that explains it. Maybe you're trying to get your name out there and I know there's a lot of competition with a lot of talent.

I'm not really sure if I'm actually asking a question about your pricing or just trying to be complementary. I'll definitely be patronizing these BF makers in the future and your work may even inspire me to try something myself!
 
As the saying goes, if you want to make a million dollars in knife making, start with two million.
 
pricing is the least favorite part of the hobby for me. being an unknown, or not in high demand maker makes it more difficult. i look at it like "paying dues". like a musician who plays bars for many years for crap money hoping to become a big rockstar someday. i am semi retired, so this is more of a fun hobby for me, as i do not depend on it. if i price a knife according to what i think it is worth by viewing and comparing other makers work , it usually doesnt sell. if i price them less than i feel they are worth, they sell 70% of the time. every maker has a different scenario depending on the style and quality if their work. i try to follow a quote by the comedian steve martin, "be so good they can't ignore you" i hope to make knives someday that are so nice people will not be able to resist buying them :)
 
Most makers will tell you that pricing their work is one of the hardest parts of being a knifemaker. The number of hours it takes to make a knife plays almost no part in setting the actual value. Materials, quality of build, design and popularity of the maker are the main factors as I see them. A mis-step in one of these areas can make a knife (or all your knives) difficult to sell at any price.

When I'm designing a knife, I already know what the price is going to be and I design the knife accordingly. Regardless of materials or design, they all get built to the absolute best of my ability. If I'm building an $800 knife and it takes me ten hours longer than I expected; "Oh well"...it's still an $800 knife. This is where experience plays a big part.

In general, one of my folders takes me about 30 hours. Prices vary but the average is around $950. Materials/consumables for an average priced, 30 hour knife run around $190 so, that puts my hourly return at about $25/hr. Of course, I have a sizable investment in equipment and my shop and I have to pay utilities, so that means I'm probably making about $15/hr. Okay no... honestly I put away about 20% of my sales and everything else goes back into knifemaking in either materials, expendables, travel or equipment. I think that puts me about $6/hr.

Bob
 
everything said above here is accurate and relevant, I get about $10/ hour :-) upto $25 sometimes

Most of us make what we like and hope others will like our work. Making what we like produces the best output. I'm generalizing here. There are production methods to make certain knives but then it just becomes another job and takes the fun out of it.

We're just trying to make it a self-funding hobby :-)

Also for me, its incredibly satisfying when a customer receives a knife and is happy and satisfied. Much more important to me than the money.

Howard Hitchmough told me, "the first 35 years are the hardest! "
I'm 47 and been doing it less than year :-(
 
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AmericanAs, Your description of yourself sounds like ME. Then I look and you live darn close to me too. What a coincidence. Last year I was the guy walking up to the table at Blade show acting like I knew NOTHING but asking questions anyway. This year I was the guy walking up to the table with a plan of what I was going to ask and VERY happy to meet you shake your hand and ask a few questions. Then there was the occasional table I had not planned to visit but the work on the table stopped me in my tracks. Those "stop me in my tracks" knives seem to be in the $1000 and up price range. I can pick 'em but not buy them.
 
It can be a little depressing when i work the numbers and see how much I'm really making per hour, But there is nothing else on the planet I'd rather be doing.

2016 is my 20 year as a full time Knife maker & sharpener, Fortunately my wife has a job with good health insurance bennies;)
 
RedFury said:
AmericanAs, Your description of yourself sounds like ME. Then I look and you live darn close to me too. What a coincidence. Last year I was the guy walking up to the table at Blade show acting like I knew NOTHING but asking questions anyway. This year I was the guy walking up to the table with a plan of what I was going to ask and VERY happy to meet you shake your hand and ask a few questions. Then there was the occasional table I had not planned to visit but the work on the table stopped me in my tracks. Those "stop me in my tracks" knives seem to be in the $1000 and up price range. I can pick 'em but not buy them.
Click to expand...

Cool to hear - where abouts you located? I'm just south of Jacksonville.
Yeah I was at blade and there was a ton of great work. I bought a few things but also just kept some people's cards for the possible future dealings
 
I thank you all for your responses and input! I appreciate when something has a hand-made touch, especially when there's skill involved.
 
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