knife shows and credit cards

dsvirsky

dsvirsky

Joined
Aug 2, 1999
Messages
1,910
Went to my first knife show yesterday, the annual BAKCA show in the SF Bay area. Had a great time, met some fellow forumites. All the dealers and knifemakers I talked to were absolutely fantastic.

One observation: we live in an increasingly cashless society. Rarely do I bother carrying more than about $30 on me, while 15 years ago, I wouldn't have left the house with less than $150. I use a debit (or credit) card for groceries, gasoline, household purchases, etc.; essentially everything over about $5.

The upshot of this is that the custom maker who took credit cards had a much better chance of selling me a $399 knife I was considering, than the dealer who didn't take plastic did of selling me a $120 production knife. I didn't buy the custom knife, but only because I decided that there was another custom I'd rather have.

I didn't buy the production knife because, even though it was a good price, I can drive down the road to the local brick-and-mortar knife store any day, Monday through Saturday, and buy the same knife with my credit card. Sure, I could have given the dealer a check, and he would have mailed me the knife as soon as the check cleared, but for a difference of $15 or $20, instant gratification is the key.

My bottom line: charge me 3% extra for using plastic, I really don't care, but if you want cash, we're not likely to be doing business.

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Dave

Let no one ever from henceforth say one word in any way countenancing war. It is dangerous even to speak of how here and there the individual may gain some hardship of soul by it. For war is hell, and those who institute it are criminals. Siegfried Loraine Sassoon
 
Yeah but, usually you don't pay taxes when you put up cash. That can be quite a good saving on an expensive item.
 
Im with ya dsvirsky

Every year I must drop close to a thousand dollars at the East Coast custom knife show. But never do I go with more than 100 bucks in my pocket. Im not in the habit of carrying 1000.00. Accept credit cards and Im far more likley to buy. I also us a Debit card so If I aint got it I cant spend it.


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ALex

http://home.att.net./~a.boriqua
 
Knife shows are about the only place I carry a great deal of cash. I think you can get a much better deal when you have cash in hand. I might be old fashioned, but I like dealing in cash.

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John Foresman
Lifetime member Buck collectors club
Member NKCA
Member AKTI
 
Dsvirsky
As I understand it, it is against Federal Law to charge you extra because you use a credit card. The charge back to us,the maker,is 3%-5% depending upon amount.

I do give a 5% discount for cash. I would have lost that much anyway with a card and if the client wants to pay cash that helps him a bit as well.

I do accept cards simply for the same reasons you guys said. We are in some ways fast becoming a cashless society.
See y'all at a show one of these days.
fisk
 
There is always an ATM machine a very short distance form the entrance to a knife show.
If a person wants a knife the makers policy of taking credit cards shouldn't make a difference.

[This message has been edited by TomW (edited 09-24-2000).]
 
I would agree with Tom,so many ATM's that are accessable.Cash is the best way to go,especially if your looking to negotiate price.I do like to having many different choices available for payment on the other hand.Ralph
 
At shows (such as the NYC show) I tend to stick w/ cash & keep the plastic handy in case there is something I just can't live without- it keeps me "in check" & makes me really carefully consider what I want to buy instead of going absolutely freakin' nuts & blowing my budget. I have to agree that makers/dealers who take plastic make it easier...

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Runs With Scissors
AKTI# A000107
 
Credit cards require a phone line for the dealer to really be effective, and that's part of the Show's offering, which means more money to the facility to provide the service. I don't know if a local show like BAKCA's could pull enough to warrant it. It depends on how much the phone line would cost, etc. We need some input from some dealers for the answer to this one.

Hank
 
Tom, Tombstone --
Your right, assuming that it's a knife that I really want. Where the dealer loses the sale is with impulse purchases. If I have to leave the show and drive my car to the nearest ATM, that impulse is going to die.

fisk -- as I'm sure you realize, a discount for cash is, on a practical level, a surcharge for plastic. And I'm OK with that; I'm willing to pay for convenience.

Buckcustom, tailwinged goat -- yes, cash money can help get one a better price, but as stated above, I'm willing to pay for convenience.

Mind you, I'm not trying to criticize anyone for how they choose to do business; only pointing out the quickest path to my checking account.

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Dave

Let no one ever from henceforth say one word in any way countenancing war. It is dangerous even to speak of how here and there the individual may gain some hardship of soul by it. For war is hell, and those who institute it are criminals. Siegfried Loraine Sassoon
 
I too would love it if more custom makers could process credit card transactions at shows, but I'm also a realist in terms of what level of technological advancement I should expect. I figure we should all just be thankful that so many of these great guys even have computers
smile.gif
.

As Tom mentioned, ATMs are a viable option, but quite often you're limited in the amount of cash you can withdraw in a 24 hour period.

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Semper Fi

-Bill
 
It's not against federal law to charge a surcharge, it's against the policies of all the credit card issuers. VISA, MasterCard, Discover, AMEX all prohibit the practice in their contracts.

That doesn't stop it from happening though. Every where you look there is a disclaimer that "the price reflects a discount for cash", etc., etc.

Most of us at the shows do make allowances for cash sales, such as including sales tax in the cash price or offering a discount for cash sales.

The phone line is no problem either if the dealer has a setup that uses a cellphone. Personally, I don't understand why any regular show dealer wouldn't have a similar setup. It has helped my sales tremendously and the actual cost is insignificant when you figure in the added revenue from the extra sales. I even bought an extra cellphone on the off chance that the main one would fail.

The only hangup is the card services themselves. some of them won't deal with a dealer unless they have a storefront and those that do often charge higher discount rates and add on extra charges for the service.

There are also added charges for mail order CC sales. There is a HUGE risk of chargebacks (fraudulent sales) with mail order and the CC companies have been taking a beating and then passing the costs on to us dealers. I know of at least one 'net dealer who stopped international sales altogether because their losses to fraud from overseas was in the thousands of dollars.

It's a tough world out there.

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Dennis Wright
Wright Knife & Sporting Goods
La Mesa, CA
(Don't click, just call)
1-800-400-1980
wrightknife@ixpres.com
("Have a knife day!")
 
At the Las Vegas show last year I found one that I had to have from a dealer that did not take plastic, an ATM would not have helped because the amount was over the $300 limit. I did not have to go to the bank because the show management had an arrangement worked out to accept plastic for the dealers for a fee. Everyone went home happy, I had my knife and the maker got paid.

This year I am bringing more cash with plastic as a back up.
 
FWIW - The last knife I bought at the Blade Show was an impulse buy that went over my pre-set limit (Personal spending - not CC). I only made that purchase because the maker took plastic. I walked away from two makers who didn't.

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AKTI Member #A000832

"Sometimes you eat the bear, and sometimes, the bear eats you."
 
Hello All,, Indeed, cash is KING at all the shows weather it be guns or knifes.. Living in California, I have discovered the best way to beat our 8 and a quarter % sales tax is to buy mail order, or with cash (at shows) which is what all the dealers want anyway. I have saved lots of $$$ by doing business this way, and I will continue to do so. Another method which has cropped up recently (mostly on the net) is "PAYPAL" which most knife dealers prefer. They dont' have to pay the 3 or 4 % on a CC purchase's. Give it a try. Larry C.

[This message has been edited by Tady45 (edited 09-25-2000).]
 
If you're uncomfortable carrying cash, use traveler's checks. Because of the difficulties verifying, I suspect that cash will remain the prefered way to go.

Most custom makers will also accept a modest deposit at the show, then you can send the rest to them by mail and they'll mail you the knife. I like this because I don't have to carry the knife around and back on the airplane, etc. Others will take your personal check and then mail you the knife a few days later after the check clears.



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Chuck
Balisongs -- because it don't mean a thing if it ain't got that swing!
http://www.balisongcollector.com
 
a very well known knife maker who lives near me (guess who) goes to two shows a year with knives...sometimes three.....does NOT take orders....and sells out in an hour or two of the opening bell...and guess what....cash only....if you want one you had better have cash...there are a lot of "hot" knifemakers who fit into this category....I watched Steve Hoel sell a fancy bowie (profusely engraved by Steve Lindsay) for 15 $500 bills here in Hawaii a number of years back.

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http://www.mayoknives.com


 
I srated accepting credit cards 2 years ago.I felt that it was my responsability to give the customer any option that he chose to purchase a knife.In the last year 75% of my sales where by plastic.I feel that the fee that I am charged is very little when you add up how many sales that you lose by not taking the plastic......Bruce

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Bruce Evans Handcrafted Knives
The soul of the Knife begins in the Fire!!!!!
Member of,AKTI#A000223 and The American Bladesmith Society
 
Dave,

I hope this will not keep you from coming to the 22nd B.A.K.C.A. show in 2001. The club offered any knifemaker/dealer the use of a credit card system for a fee, perhaps this fee was to high for some reason???.For this dealer.
I know I used a credit card and cash to make purchases and paid not extra charge or t$x. On any purchase. Hope you will come back to foam and glaze at next year show.

Jeff
 
Jeff,
If I'm still in the Bay Area next September (unlikely, but for positive reasons), I will definitely be at the show. As I said at the top of this thread, I had a great time.

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Dave

Let no one ever from henceforth say one word in any way countenancing war. It is dangerous even to speak of how here and there the individual may gain some hardship of soul by it. For war is hell, and those who institute it are criminals. Siegfried Loraine Sassoon
 
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