Partially paid knives, what's your policy?

[E.Carlson]

No problem, no hard feelings, there are plenty of excellent knifemakers here for you to choose from here in the forum

To be clear, I consider myself a successful knifemaker, can live from what was once a hobby and live well, been doing this for many years in a country with 40-50% inflation, so currency fluctuations aren't a thing for me, they are just part of normal life...

Regarding paying upfront, my most valuable asset is trust, I built it over the years delivering what was promised on time (give take a week or two )

What prompted my to post was an unusual and rather expensive knife (photo) sold to a customer overseas, half was paid, half is outstanding, it will be sorted out sooner (hopefully) or later. What I've learned is that I do business differently than mostly of you guys, food for thought. Thanks

Pablo

At least you won't have trouble selling it.
Beautiful.

 

[Dominick Maone]

No problem, no hard feelings, there are plenty of excellent knifemakers here for you to choose from here in the forum

To be clear, I consider myself a successful knifemaker, can live from what was once a hobby and live well, been doing this for many years in a country with 40-50% inflation, so currency fluctuations aren't a thing for me, they are just part of normal life...

Regarding paying upfront, my most valuable asset is trust, I built it over the years delivering what was promised on time (give take a week or two )

What prompted my to post was an unusual and rather expensive knife (photo) sold to a customer overseas, half was paid, half is outstanding, it will be sorted out sooner (hopefully) or later. What I've learned is that I do business differently than mostly of you guys, food for thought. Thanks

Pablo

You should be able to sell that quickly. That is a beautiful knife. Where I work, we regularly take deposits. But our company policy is that we can not order or install any thing without a credit account or a full deposit. So if we are installing 2k in material, 1k install price, the customer has to give us 3k or we will not order the material. If the customer backs out (which rarely happens) we return their money minus what it cost us to return and restock the material. When I worked for the paint side of my company, people would regularly forget they gave us a deposit. We would get the material in, we would try to contact them for months, and it would sit for a year or so, and then we would sell it or have to label it obsolete. It used to be that we could make the deposit part of our income. But the state I live in (Louisiana) changed the law where we now have to send the money to them so they can try to find the person (or keep it probably, this is a historically corrupt state).

Anyway, I would contact them and say-

Dear Mr. Ghost,

I have completed the knife on time as agreed. I need the remainder of the funds by January 15, 2021 or your deposit will be forfeit. Thank you.

-PEU

 

[Richard338]

Sorry, couldn't resist the movie quote.
I think creating a clear understanding with the customer from the beginning as has been suggested is best.

 

[Natlek]

No problem, no hard feelings, there are plenty of excellent knifemakers here for you to choose from here in the forum

To be clear, I consider myself a successful knifemaker, can live from what was once a hobby and live well, been doing this for many years in a country with 40-50% inflation, so currency fluctuations aren't a thing for me, they are just part of normal life...

Regarding paying upfront, my most valuable asset is trust, I built it over the years delivering what was promised on time (give take a week or two )

What prompted my to post was an unusual and rather expensive knife (photo) sold to a customer overseas, half was paid, half is outstanding, it will be sorted out sooner (hopefully) or later. What I've learned is that I do business differently than mostly of you guys, food for thought. Thanks

Pablo

I like it ! Can I send you deposit for this knife

 

[HSC ///]

While I understand the most of the opinions here that appeal to sain reason, I would stress the importance of having general terms for the advance payments you take, especially since it is the basic financing model of your business. As a (unqualified) lawyer in a EU country I would tell you that you entered in a contract with your customer and that the default of the buyer may have different consequences depending on the applicable law (and if the buyer is a consumer or a business). Also international customs and different national laws could provide for different understandings of what happens with deposit if the contract is not fulfilled by a customer.

The whole point of full time knifemaking for me as a living, is freedom.

taking money up front is a huge stress and liability and takes away from my freedom, so I never take money up front.

Same with all the above mentioned contract law concerns. Way too much stress and difficulty in my life with all those concerns. , what’s the point of all that and who needs it. Not me.

but point well taken PEU that you have a different business model that seems to work for you

Edit- I recently asked for 10% down on a 5 pc order to Brazil. Not because I needed the money, but to gauge the seriousness of the customer in his order

 

[scott kozub]

great timing. i mailed a knife on tuesday i had made in february ! she was cute so i let it slide, she's a single mom

It's funny how that works. I can't count the number of times I've been cut off on the hwy, get frustrated only to see a cute chick behind the wheel and think "ahh that's ok".

 

[Randydb]

It's funny how that works. I can't count the number of times I've been cut off on the hwy, get frustrated only to see a cute chick behind the wheel and think "ahh that's ok".

I'm a principal, but I have long hair, earings and a goatee. It took my son in law a couple months to ask my daughter out on a date because he thought I looked like trouble and was afraid of me. He and his friends were sure I was a gangster. There's been a few times in my life where I have made a mistake in traffic and the person has pulled up beside me to give me the finger and decided to leave me alone. I'm pretty sure it wasn't because they thought I was cute!!