Ripped off ? or a fair profit ? - Page 3 - SailNet Community
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Old 04-05-2019
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Re: Ripped off ? or a fair profit ?

MARINE means 400 percent markup.
down here fishing means discount. i prefer fishing to marine.
must shop wisely.
i have things made for me. is a good practice. i also look in fishing supply stores.
best o luck with your issues


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Old 04-05-2019
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Re: Ripped off ? or a fair profit ?

Quote:
Originally Posted by TQA View Post
Recently I have had to replace two items on my boat both are safety related.

The first was the LPG solenoid.

The second is my swim / boarding ladder.
I can't really say if you are getting ripped off, but:

My cheap 2001 Hunter still has the original LPG solenoid. I've replaced the regulator and hose because thew hose started leaking and I couldn't unscrew it, but the solenoid is original.

And my telescoping swim ladder it original and barely shows any wear/age.

I doubt I would accept a $5 solenoid as anything other than a temp fix

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Old 04-05-2019
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Re: Ripped off ? or a fair profit ?

There's no such thing as a "fair profit." Supply and demand determines what can be charged for various items, and any retailer with any sense at all prices their items to maximize revenues. They don't charge you less just because it costs them less, unless the competition forces them to. That is the way the world works. Supply and demand is as inescapable as gravity, and just as ubiquitous.

And, going a bit off topic, though really, not too far... This is why I always get a great, hearty laugh at the fools who think that putting a salary cap on the money paid to football players, or baseball players, will somehow result in lower ticket prices. The owners charge what they can. They will continue to do that no matter how much, or how little, they must pay their players. They price the tickets to maximize revenue, and the only thing that will bring ticket prices down is if the demand for them drops off.

It's the kind of Economics 101 that every grade-schooler understands on a sub-conscious level, but too many adults seem determined to scoff at.
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Old 04-05-2019
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Re: Ripped off ? or a fair profit ?

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Originally Posted by denverd0n View Post
And, going a bit off topic, though really, not too far... This is why I always get a great, hearty laugh at the fools who think that putting a salary cap on the money paid to football players, or baseball players, will somehow result in lower ticket prices. The owners charge what they can. They will continue to do that no matter how much, or how little, they must pay their players. They price the tickets to maximize revenue, and the only thing that will bring ticket prices down is if the demand for them drops off.

It's the kind of Economics 101 that every grade-schooler understands on a sub-conscious level, but too many adults seem determined to scoff at.
Going *way* off topic here, but there’s a reason Econ 101 isn’t the only economics class. Economics gets very complicated very fast, with hidden incentives, non-rational actors, externalities, etc. Anytime someone says ‘It’s Econ 101!” they’re almost certain grossly oversimplifying the situation. In the case of professional sports, the leagues are non-competitive semi-monopolies with varying degrees of public subsidy. That’s more PhD level economics than it is 101.



But I agree that for the most part any profit is a fair profit, if people freely pay for the goods.

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Old 04-05-2019
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Re: Ripped off ? or a fair profit ?

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Originally Posted by Minnesail View Post
Anytime someone says ‘It’s Econ 101!” they’re almost certain grossly oversimplifying the situation.
A charge to which I plead "guilty." Of course, nowadays, if you don't grossly over-simplify economic issues you will probably lose 90% of the audience.
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Old 04-05-2019
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Re: Ripped off ? or a fair profit ?

Economists and weather guys share a common thing.



They are wrong a lot of time and no one seems to hold it against them.
SanderO and chef2sail like this.

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Old 04-06-2019
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Re: Ripped off ? or a fair profit ?

"When the exact same part is sold for marine use, it could contribute to a drowning or destruction of other million dollar yachts."
So, the natural gas regulators that failed and lead to three exploding houses and a whole area north of Boston being evacuated last year couldn't each burn down a couple of four homes, each worth over a quarter million? (That's what a tear-down costs in a lot of suburbs.)
An interesting idea, but there ARE limits. Something similar goes on with online venues (ebay and Amazon) where folks are looking to wash money or move it across borders. They'll post something like a $25 toaster oven for $1025, and when someone buys it, they don't care about the toaster, they're sending $1025 across currency systems without needing to report anything. (Yes, a nice federal employee who investigates and prosecutes these things clued me in.)
Beyond "THAT'S not right" there's not much you can figure about why some things are priced the way they are. Except, some folks will gouge whenever they can. Its not like the tourists are going to come fly back in to complain, so they're easy meat.
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Old 04-06-2019
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Re: Ripped off ? or a fair profit ?

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Originally Posted by hellosailor View Post
An interesting idea, but there ARE limits. Something similar goes on with online venues (ebay and Amazon) where folks are looking to wash money or move it across borders. They'll post something like a $25 toaster oven for $1025, and when someone buys it, they don't care about the toaster, they're sending $1025 across currency systems without needing to report anything. (Yes, a nice federal employee who investigates and prosecutes these things clued me in.)
Beyond "THAT'S not right" there's not much you can figure about why some things are priced the way they are. Except, some folks will gouge whenever they can. Its not like the tourists are going to come fly back in to complain, so they're easy meat.
Every once in a while on Ebay or other sites will see a product listed with what looks like a typo adding a couple of zero's to the price. Wonder if these are money laundering schemes??

It's all about supply and demand and 'The price of Tea in China'. When we were building our Westsail ages ago, Lewmar hardware and Aries Vanes were quite pricey, at or above what other msg's hardware cost. Happened to pick up a Brit Sailing magazine and saw ads for Lewmar/Simpson Lawrence at less than 1/2 what they were selling for here and the Aries at quarter the US price. Turns out Brit suppliers weren't doing their own marketing here but working through US distributors who were setting prices at inflated values and reaping the currency differential profit. Apparently a monopoly pricing decision on the distributors part to try and make a lot of money on smaller volume but higher prices than lower price but high volume and more overall profit. It was also a lot more pleasant dealing with Nick Franklin directly.

The difficulty in buying no name product is determining if they are actually the same as a branded product. Have bought items from a certain country that looked to be identical to US name brand stuff. When I had to open them up because they failed quickly, found there was no 'marine' in the innards. No stainless steel, bronze or copper inside only cadmium plated steel if it was protected from a salty environment at all. The seller would replace the items if I paid to ship them back which cost more than I paid for stuff and would have to wait till they got around. to shipping replacements. You do have to pay for the convenience of being able to go back to a brick and mortar supplier to make a return.

As others have said, it's not what something costs but what someone is willing to pay for it. Doubt that online Chandlers like Defender are putting outrageous mark ups on anything they sell. Can't say that about the Left Coast Company. Things are a lot better than when we got into owning a boat. There were only local Chandlers and they took a healthy mark up on everything as they had a lock on the market. Initially the Left Coast company forced the local suppliers to compete with lower prices or esell out or go out of business. Unfortunately that company seems to have lost their way in the last decade or so. Fortunately Fisheries Supply, Jamestown, Defender, etc. are still keeping a lid on prices.
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Old 04-06-2019
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Thats what i suspect with the 'very high' ebay pricing...also have seen it on amazon but not as near as prevelent.
Just makes sense
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Old 04-07-2019
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Re: Ripped off ? or a fair profit ?

Amazon claims insanely high prices are the result of issues with their pricing algorithm. Apparently there's a sellers' tool that can automatically "suggest" the right price for your items, based on competitive prices. Of course, Amazon doesn't just sweep things under the rug...they have an entire "distress sale" operation going on in the basement, reached by that same convenient trap door under the rug, yeah.(G)

All factored into their cost of doing business. Who'd have thought, all this from a garage book seller.
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