That Age Old Question Again

slatroni

slatroni

Well-Known Member
OK, so far I have been very lucky selling my knives. I am even taking orders now. But the question is, "how do you price your knives?" I have been selling in a local gun store. I get $200 in my pocket and they put a small mark up on them. But last summer I built the Bowie. I worked on that thing off and on all summer long. I do not know how to price it? I sure could use your help!

Thanks
Steve
damascus bowie5.jpg
 
You might want to give us some more details. It's a great looking knife. Is it forged? Stock removal, and what kind of steel? What kind of wood did you make the handle out of?


Don
 
I was told to price a knife enough to make 5 more just like it I believe those were the words passed along.
 
I normally track the actual work time multiply that by my hour rate plus my fixed cost contribution plus cost of material including how much sandpaper/windex, add 90% of the total to get my asking price. I give a 10% cash discount if asked. Keeps my prices reasonable and fair. That's for my standard production models.

One up designs depends also on size and finish. Then its priced according to what the market will bear. I use my standard method then double it and see how it goes. Knives start at 150 for 3.5" blade basic utility and the last full custom 10" blade with Axis handle, 416 SS guard, forged 1075 went for 925 with gator sheath.

Tracking time is very important to my pricing strategy. I keep a data sheet in the tray with each custom to track the time.

I have some of my work displayed at ACE Hardware around the corner from me and the get a 20% referral fee on all finished customs they send me.
 
Thank you everyone.

The stock removal blade is 1095 and 15n20 damascus as well as the bolsters and hilt. There is lots of file work and my take on a Spanish notch. The grip is a really nice piece of Koa with black and stainless steel spacers and a stainless screw with file work holding on the bolster. The sheath has a snake skin inlay.

Thanks again
Steve
 
Steve, you can add up just the actual material cost of that Bowie and you'll be surprised just how much you've got invested in just materials for the knife itself, then cost of belts, etc. THEN, think about manhours invested.... AND don't forget cost of that nice looking sheath you've got. You're talking some real money for that setup! Well, "real" money for me anyway {g}

Ken H.
 
This profession is underpaid.In the normal case it is in the nature of producing High performance- and luxury tools since ever....

I knew that from the beginning but it is a job I love to do.Doing a job, that I love to do until I am retiered is something worth to me.
professionals need to make different prices than hobbyists.
(for example taxes : thailand 7%, Germany 19% !!!!( if I am still living in Germany I would have quitt or doing it as a hobby, that politics is destroying old traditional professions)
so, for many years the price I had to ask for that I can survive many people cannot or not willing to pay, today I have a name and reputation that makes sell knives for me more easy, thank god!)
Not the problem of a Hobbyist who has the goal getting a few bucks to continue the fun of knifemaking.
this calculation is according to your ability, your potential, the location and other circumstances so giving that answer in your special case is difficult from the outside.
4-inch hunters with/or without bolsters are easy to price, but those pieces I even cannot remember how many hours it took, I prepare to keep for myself.
because selling them under price hurts, make you regreting selling them, makes you missing them a long, long time.

The best price of your beautiful Bowie( and that in deed it is!) perhaps must be emotional.
In such cases I ask for a price, that I cannot afford keeping it...getting my Family feeded and healthy is the most important goal for me.
Good luck
 
wall e said:
I was told to price a knife enough to make 5 more just like it I believe those were the words passed along.
Click to expand...

That was THREE more knives, That includes Steel, handle, pins, belts, any leather etc.. That was the formula I was told many moons ago by the late Bob Loveless at his shop in a casual conversation, Nope, The few times I sat and talked with Bob he was really never causal about much of anything!
The man was filled with passion when it came to every topic including knives! LOL

Anyways, That's what I did until I felt established because I was having a few customers tell me that I wasn't charging enough for my knives.
The funny thing is I had one of those customers that way buying a few of my knives one at a time for gifts to his customers ask me why I raised My prices? :biggrin: Guess what I said? I held at my prices after reminding him were the suggestion came from and have ever since.

NEVER! lower you're prices, from everything I've seen it's the kiss of death!:58:
 
I prepare to keep for myself.
because selling them under price hurts, make you regreting selling them, makes you missing them a long, long time.
Click to expand...

I am trying to set up my shop for retirement (in a few years) as a knife maker. Every knife I make is for me and regret selling every one of them. Thank you for the words of advice.
 
Ok I added a couple more due to inflation? Lol Sorry 3 more. I stand corrected. Steve this bowie is a major accomplishment and a work of art and should be reflected in how you price it.
 
Thank you Walt. The inspiration came from the of the Big Dogs! I have learned so much on this forum. Thanks to all of the Dogs!
 
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