Upfront Payment?

Lycosa

Lycosa

Joined
Aug 24, 2007
Messages
43,271
Hi Gang. Recently, two custom makers asked me for upfront payment before they would make my order. Will this be a more common practice?
 
I think that makers are going to have to find a way to protect themselves from inflation and uncertainty.

I think that paying 100% upfront would be madness. I think that paying 1/3, 1/3, 1/3 with established maker might be a fair solution.
 
Karl--- The one maker asked for payment in Full.
The second maker did ask me if paying him upfront would be ok, it wasn't his absolute policy.
 
Hi Lycosa,

A long time ago a knife maker told me "The toughest knife to make is the one that has already been paid for!"

NEVER EVER PAY A KNIFE MAKER IN FULL IN ADVANCE. If you want to know why...search The Good Bad and Ugly. You will find story after story of collectors who did just that and either it was months, years or they never received the knife.

Now, that being said. Are you asking for some unusual knife? High end handle material, gold, jewels,etc. If yes, then it is fair for the maker to ask you to pay for these materials up front.

What your makers should do...and this is for all makers. Is contact you prior to starting your knife. Go over the order again so there is no confusion. Discuss payment at that time.

With the understanding that if the maker is more than 2 weeks late on his delivery date..it is your option to get your money back in full.

Also, that if you are more than two weeks late in paying...it is the makers prerogative to sell the knife.
 
In various threads there have been comments about makers taking "up front" money and what i've taken away from reading them is basically "DON"T DO IT". The exception was that if the knife required non standard materials an up front deposit to cover those costs was reasonable.

There are many opinions and common sense would dictate that if FULL PAYMENT was made in advance, what is the incentive to deliver? Reputation yes, but there have been quite a few instances where knifemakers dug themselves a DEEP hole by taking money up front.

Peter
 
The reason for the upfront payment, I was told, was that the maker asked to make a knife and customer would back out of the deal?? This happened quite frequently. A dealer even made an order and backed out??
 
With all that's gone on with makers not fulfilling their contract, I would not pay anyone in full. Paying up front for exotic handle material is very acceptable.

I know of a couple of incidences where well known makers have taken money and not delivered. This is currently happening not past history!!

Win
 
Thanks guys. I'm glad I posted! No money was sent. The one maker did tell me he needed to purchase a special steel order. He's on the up then?
 
Such a request sounds strange to me.
Coming from two different knifemakers makes it really weird...

Are all the facts in front of us?

All the best,
David Darom (ddd)
 
Run away from the deals.

Upfront payment for a standard product in any business is a sign of poor cash flow. Poor cash flow often means your job won't be finished, finished with less quality materials, or the person is at the end of his business career and will go back to his "day" job leaving you with no recourse if you have problems

From a "collector-investor" perspective, up front payment is a good sign that your investment may not break even if you ever decide to sell. If there was demand for the maker's product, he wouldn't need an up front payment.
 
Just as soon go back to another trade, job, or profession before I excepted any money upfront in this business or any business of this nature.

Its not really that matter of honesty or integrity its just that big thing called the unknown.

I find that folks who do send deposits, full payment to makers who do not have the resources to build a knife to your specifications, materials etc to be just as much part of the problem as the makers that don't deliver. Especially the ones that frequent the knife forums?

Not sure how many threads I have read on this very subject...it seems the common "Knee jerk reaction" following the threads you mentioned.

The response from Don and Les are pretty much word for word every time....that would be a good enough reason for me!

Spencer
 
Thanks Spencer.
What about this scenario: If I want a Sebenza, I have to pay for it first, correct? I'm just asking.
 
Big Difference between CRK and your average custom maker IMHO., not a good comparison.

Spencer
 
I have put down money on semi-customs, but when the knife is not completed in the year it is promised, or even in the following year, you are pretty much stuck with excuses. So I'm just going to avoid that game from now on.
 
I'm a bit uncomfortable when a client sends me a check with his knife to be photographed. And that will usually take no more than a week.

If a maker is not fluid enough to cover expenses at present, then he's working a version of the Ponzi scheme. Is the maker named Medoff? ;)

Coop
 
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