Lucky I bought...

[Dave Roller]

...when I did!

I bought my PM 4224 early last spring when I was building a new insulated and heated workshop. I couldn't believe my eyes when I saw the prices for PM in the latest catalogs and online sites. There's been @ a 20% price increase across the board!

Have other people noticed price increases in this range for other brands and other woodworking equipment?

 

[Sean Troy]

The price has doubled in 3 years ! Glad I got mine when I did.

 

[Wyatt Holm]

The price on the lathe I bought went up about six hundred dollars since I bought it, glad I bought when I did too.
Wyatt

 

[alexc]

anyone know why this is?

 

[john lucas]

I bought my Powermatic 3520A just before a price increase. I paid $2000. I noticed yesterday that the 3520B is now about $3500. That would have been totally out of my league. I'm glad I gambled and bought the lathe when I did. 2 grand was really more than I thought I could spend but I held my breath and wrote the check. It all worked out well and I'm really glad I bought this. It is so much better than my Nova 3000.

 

[Jake Debski]

FWIW dept.

The entire line of Jet/ Powermatic tools which are owned by a Swiss Holding Co. have had at least two price increases recently. When I asked a Jet service rep. about this he said, price of steel(iron), fuel, transport, US dollar value all contribute to the increase. A lot of Jet tools are still made in Taiwan, which is more expensive than China,and of better quality(my opinion.)

As a point of interest, Delta has supposedly announced they will once again build/make the Unisaw in the states. No mention where the raw castings will be made.

 

[Wyatt Holm]

It looks like the price of everything has gone up since fuel prices have. But with fuel prices going down a little, the lathe prices should go back down(maybe).
Wyatt

 

[n7bsn]

It goes beyond fuel costs, during most of the year demand was skyrocketing for everything. I saw reports of tool steel taking 10% jumps in successive months.

Things have slowed, but I would not expect prices to go down, at least on small volume items like we buy

 

[Jake Debski]

It goes beyond fuel costs, during most of the year demand was skyrocketing for everything. I saw reports of tool steel taking 10% jumps in successive months.

Things have slowed, but I would not expect prices to go down, at least on small volume items like we buy

I agree completely. Contrary to the old saying, when it comes to pricing, what goes does not have to come down.

 

[Keith Burns]

Steel costs have risen 70% since the first of the year. They have leveled off but suppliers are not hinting at reducing costs.

 

[Dave Roller]

Steel costs have risen 70% since the first of the year. They have leveled off but suppliers are not hinting at reducing costs.

I suppose that buyers of PM and other brands should be happy with just a 20% increase. It was just a shock to me to see this increase in one year.

It's time to re-evaluate the machinery in my shop!

 

[MichaelMouse]

It's time to re-evaluate the machinery in my shop!

Revalue for sure. I've got replacement cost, so I suppose I'd just find the appropriate match in a current catalog, but people who have a fixed sum limit might consider raising it.

 

[john lucas]

If I remember correctly part of the problem with steel prices is china's demand for steel. It is rising rapidly due to increased industrialization of the nation. I'm afraid we are going to see a lot of rises due to this competition for materials.

 

[jared herbert]

price of steel??????????????

The price of steel argument for price increases shouldnt really be holding water now. In our area, northwest Iowa, the price of scrap iron was $300/ton last winter. In June it was $150-200/ton. Now it is $30/ton. I have a friend that works in a taconite[low grade iron ore] plant in northern Mn. A year ago they were ramping up production, restarting processing lines that had been closed for years. A month ago layoffs started and the lines are being shut down. The price of scrap iron was supposed to be dictated by Chinese demand. Apparently the demand isnt there now. I know it takes a while for these prices to work through the system but when will we see price decreases?

 

[john lucas]

Jared That's like asking when will taxes go down. I remember many years ago when silver prices jumped. The price of photographic film skyrocketed. It never went down even though silver prices dropped by 300% or more. We showed them, we went digital. I'm hoping electric cars will eventually become affordable for people like me and we can give up gas.

 

[Wyatt Holm]

I think electric is a good idea for a car, but I think that a hydrogen powered car is a good idea also.
Wyatt

 

[Jake Debski]

The price of steel argument for price increases shouldnt really be holding water now. In our area, northwest Iowa, the price of scrap iron was $300/ton last winter. In June it was $150-200/ton. Now it is $30/ton. I have a friend that works in a taconite[low grade iron ore] plant in northern Mn. A year ago they were ramping up production, restarting processing lines that had been closed for years. A month ago layoffs started and the lines are being shut down. The price of scrap iron was supposed to be dictated by Chinese demand. Apparently the demand isnt there now. I know it takes a while for these prices to work through the system but when will we see price decreases?

Jared, even if prices were to deflate, which is doubtful, they won't drop on stock already in inventories. The lead time on, for example, made in China lathes is in excess of one year. Everything delivered now was made more than a year ago with much higher priced steel and transportation costs. The economy as we are all aware is less than good. So as profits drop from poor sales most companies will examine inventories and begin by offering rebates. They often team up with a retailer and each will reduce their margin a little and pass that on in the form of a rebate. A rebate is not really a drop in price, they have your money, and it takes a considerable length of time for you to get your money back. Look at it as an operating cash loan without interest.

 

[Joe Greiner]

Have we all forgotten Economics 101? The market-clearing price vs volume is the intersection of the demand curve and the supply curve. We can argue the merits of all components of each, but it won't change the price by very much. Rebates are worth less than face value, not just because of the lost interest, but also because of the buyer's imputed cost of jumping through all the hoops, which therefore are often not exercised.

The current economic crisis seems to be drifting toward repudiation of monetary values. See Economics 201, maintain your tool-making skills, and circle the wagons.

Joe

 

[Odie]

Have we all forgotten Economics 101? The market-clearing price vs volume is the intersection of the demand curve and the supply curve. We can argue the merits of all components of each, but it won't change the price by very much. Rebates are worth less than face value, not just because of the lost interest, but also because of the buyer's imputed cost of jumping through all the hoops, which therefore are often not exercised.

The current economic crisis seems to be drifting toward repudiation of monetary values. See Economics 201, maintain your tool-making skills, and circle the wagons.

Joe

I agree, Joe.....

Manufacturers that offer rebates are counting on many of us not jumping through those hoops. It would be interesting to know what percentage of rebates get processed. As long as it's available to me, I usually follow through with the rebate.....but, I find them very annoying! I once lost out on a rebate because of some inconsequential thing that was omitted on the application......the company was looking for any little excuse to not give the rebate. Now that was aggravating, for sure!

Do you really think we'll be reduced to making our own turning tools in the future? With the current turmoil in our economy, I wouldn't doubt for one minute that some pretty serious devaluation of our currency is just around the corner. That will mean that retail prices will dramatically rise. Lathe turning seems to be a very popular pastime, so some of the smaller tool manufacturers may go belly up.....but, the big ones, like Sorby and Henry Taylor will probably endure. We might have to pay $200 for a bowl gouge, though!

otis of cologne

 

[Wyatt Holm]

Look on the bright side🙂 many say that the economy will get a little better in a few months, I hope it does.
Wyatt

 

[Bill Grumbine]

All metals have gone up in price. My hobby revolves around brass, copper, and lead, and all that stuff has gone up tremendously too. The Chinese are buying up scrap metal faster than we can make it, so all metal prices are being affected.

 

[Jake Debski]

All metals have gone up in price. My hobby revolves around brass, copper, and lead, and all that stuff has gone up tremendously too. The Chinese are buying up scrap metal faster than we can make it, so all metal prices are being affected.

Sounds like unloading and re-loading to me.😀

 

[Doug Thompson]

Lathe turning seems to be a very popular pastime, so some of the smaller tool manufacturers may go belly up.....but, the big ones, like Sorby and Henry Taylor will probably endure. We might have to pay $200 for a bowl gouge, though!

otis of cologne

This will never happen as long as I'm around. I bought steel last week, the good thing is the price didn't go up but it didn't go down either. As Americans it's time for us to step up to the plate and start manufacturing the products we use in this country.

 

[Joe Greiner]

This will never happen as long as I'm around. I bought steel last week, the good thing is the price didn't go up but it didn't go down either. As Americans it's time for us to step up to the plate and start manufacturing the products we use in this country.

Including portable fuel, whatever form it may take.

Joe

 

[Jake Debski]

....................... As Americans it's time for us to step up to the plate and start manufacturing the products we use in this country.

Absolutely!! But I would add two other words to your comment Doug, and buy.

 

[Bill Grumbine]

Sounds like unloading and re-loading to me.😀

Yeah, the unloading goes real fast and is the most fun. Reloading is fun too, but lots slower, especially when it is cold out. My special place for that activity is unheated at the moment. But my new heater just arrived, so hopefully I can get it installed and running soon. :cool2:

 

[Steve Worcester]

Yeah, the unloading goes real fast and is the most fun. Reloading is fun too, but lots slower, especially when it is cold out. My special place for that activity is unheated at the moment. But my new heater just arrived, so hopefully I can get it installed and running soon. :cool2:

That is brass and copper (sometimes).Both have gone down in the last year, but most of the problem talked about here is devaluation of the dollar. Except in AU (AU$), time to go back to importing Stubbys.

 

[Bill Grumbine]

That is brass and copper (sometimes).Both have gone down in the last year, but most of the problem talked about here is devaluation of the dollar. Except in AU (AU$), time to go back to importing Stubbys.

Yeah, but the devalued dollar hurts my hobby just as much - especially when one has a fondness for German machines. 😉

 

[Doug Thompson]

Absolutely!! But I would add two other words to your comment Doug, and buy.

That is one thing that has been missing in America for a long time... it's tough to find products that are made here. Recently I purchased a Wells-Index mill (MI)... it's the only mill made here in the USA and the control is made in PA. There is only one US manufacture of metal lathes, your out of luck if they don't have what you need and it goes on and on.

 

[Russ Fairfield]

Let's put this lathe price in perspective? The Powermatic 3520 (then still made by Powermatic) sold for $3800 when it first hit the market in 1997, and there were no discount dealers.

Then Jet bought Powermatic, improved the lathe, and dropped the retail price to around $2500. The street price was in the range of $2000 to $2200.

I could argue that a lot of people have been getting a very good deal on a very good lathe for a long time. I could also argue that the value is still there at the higher price, and that higher price is still not back to where it was 10 years ago. This is also a much better lathe than it was 10- years ago.

 

[Jake Debski]

Let's put this lathe price in perspective? The Powermatic 3520 (then still made by Powermatic) sold for $3800 when it first hit the market in 1997, and there were no discount dealers.

Then Jet bought Powermatic, improved the lathe, and dropped the retail price to around $2500. The street price was in the range of $2000 to $2200.

I could argue that a lot of people have been getting a very good deal on a very good lathe for a long time. I could also argue that the value is still there at the higher price, and that higher price is still not back to where it was 10 years ago. This is also a much better lathe than it was 10- years ago.

Russ, there is little to argue in your statement. I turn on the model-A. Although, I think the machine still would have evolved were it still made in the states, the price would have risen along with the quality. If it had remained a US product I doubt I would have been willing, or perhaps able, to purchase it, retired, hobby turner, relatively fixed income, etc.,etc.

Any further discussion of the made here subject would, most likely, involve sensitive or controversial material. This board, thankfully, frowns upon that and for good reason. I like would add though that your articles on finishing for turners, are my go to references on the subject, thank you.