Years ago, I took a class given by ABS Master Smith, Wayne Goddard. At the time I was making knives in the homespun primitive historical variety for my own use and pleasure. Anyway, Wayne did a good job of explaining to the students who wanted to go on to build knives 'for a living' just exactly what they needed to consider before leaping into the ring as a knife maker. Even as a hobby maker, it was readily apparent to me that knife making could never pay my bills or support my lifestyle. Too much work, too little free time, customers who expected something for nothing, health and safety considerations, too little financial compensation for what you had to have in your head, etc., etc. Obviously this was, is, a trade that one chooses to do because they enjoy it...period. No serious minded person gets into knife making to get rich. My hat is off to the knife makers on the forum and they have my admiration and respect.
Something out of Wayne's book, The Wonder of Knifemaking, to think about.
I am often asked about the method used to establish a price on one's work. I base my method on time studies and operating expense over the 26 years I've spent as a full-time maker. Multiply that figure by the hands-on hours spent on a knife. That answer gives the selling price.
Put it like this: If you want to make $20 per hour, that's $20 X 4 = $80. If it takes you four hours to make the knife; 4 X $80 = $320 as a selling price for the knife.
This should allow you adequate income to pay for materials, insurance, maintenance, advertising, show expenses and a million other things. Don't forget to pay your taxes.
I don't complain about custom knife prices. If I can afford it and want it, I buy it. If I can't afford the asking price, I don't buy it. Simple enough. Frankly, I don't see how most of the makers here on BF can make any sort of a profit with such low asking prices. That takes real talent.
@ 32#, but it's quick and fun.
