Craziest LFS prices

[Craig Manoukian]

As per usual, my LFS has great livestock prices, but kills you on all dry goods. Nothing specific comes to mind, but you can beat his prices on skimmers by a good margin on-line even with shipping.

:smirk:

 

[mnreefman]

travis... if you know when there gunna have a sale go in and take pics of the prices a week or so in advance then go a few days before the sale and the day of the sale... get pics and take em to the better buissness beareaux... that is just plain wrong

Originally posted by Travis
Yeah Hap, this was Dallas North. SW Paradise is expensive, but never outrageously, and their setup is immaculate and the corals are the healthiest in town. So I don't mind spending the extra money there.

I found the answer to the $200 elegance and why things were so expensive... this particular LFS was about to have a huge 20% off sale, and as always, they jack the prices up 20% or more the week before the sale. Shameless.

 

[fidojoe]

My lfs has lr for 6.99/lb for figi! I went to another one, and got some figi for 4.50/lb and 10% for paying in cash.

 

[ReefLady]

$8.99/lb here fidojoe.

 

[ScottT1980]

The LFS here had a Mag 5 on sale for $109!

To be honest, if this kind of mark up is needed for a LFS to stay in the black, I don't know how any of them stay in business. I try to support the "good" LFS when I can but it makes it tough when you find 300% mark-ups on many of the dry goods and livestock...

Take er easy
Scott T.

 

[JennM]

Prices that are charged for items in any retail business, are based on the cost of doing business, as well as the cost of the items themselves. If the store can't generate enough revenue to buy the inventory and pay the bills, it doesn't last. Simple economics.

Likewise, if a store prices itself out of the market, sooner or later the customers will go where the prices are better. So if LFS is charging $400 for a clam that isn't worth $400, it will sit there.

For *most* customers (yes, most), the value in the face-to-face service is worth the extra cost of buying from a bricks and mortar store. Thank GOD for most of those customers

Prices vary due to local market conditions, availability of livestock -- there are many variables.

Jenn

 

[Montanareefer]

MNreefman writes: it was nice... i offered him 125 and i was being very generous.. he told me to get out...

Your use to that right Clint!

I saw a 6" LR with plain looking zoanthids for $165 and this was about a couple weeks after I told him that zoanthids were going for unbelieveable prices on the internet expecially blue ones. Got to watch what you say around the LFS owner.

 

[mnreefman]

Originally posted by Montanareefer
Your use to that right Clint!

only when your around johnny

 

[Imperial]

Originally posted by mnreefman

ricordia rock (blue) (3 rics) 199.99

are they made out of gold or something?

 

[SaltyQueen]

Originally posted by JennM
For *most* customers (yes, most), the value in the face-to-face service is worth the extra cost of buying from a bricks and mortar store. Thank GOD for most of those customers

I can understand things being a little more expensive at a LFS, and this is worth the extra for personal service & the opportunity to see the item before you buy it, HOWEVER, I'd have to say that if *most* customers are willing to pay up to a 300% markup for something, they're just plain uneducated about what the fair price should be. A small markup is to be expected, but we're talking about ridiculous, exhorbitant markups here, and that is not right.

 

[ReefLady]

Yeah, this thread isn't really about normal LFS prices, which are typically double what you'll find online... for drygoods anyway. I have learned to live with that. This is about the ridiculously overpriced items that just make you want to laugh.

BTW, anyone have examples of online prices like this? I think I saw some pretty hefty prices at reefermadness a while back.

Also, SaltyQueen, you have to remember that those drygoods prices were the norm, or close to it, before the online retailers popped up and could undercut the stores so much. To me, it's not really gouging on the part of the LFS in many cases, but the fact that the LFS have been so severely undercut. It's the wal-mart effect, just in cyberspace vs. B&M. Economies of scale, lower overhead.

This doesn't change the economic reality for me, and that reality is, unless it's an emergency, I'm going to order it online and save myself 50%. I do buy a few things here and there from LFS I want to support, but just can't justify the price differential most of the time.

 

[SaltyQueen]

I've seen some ridiculously priced dry goods on e-bay, but most of the on-line stores (non e-bay retailers) are pretty similar. Most of the time you can get some great deals on e-bay, but there are a few sellers who are most likely trying to rip people off.

 

[deanerk]

My LFS has crazy prices on dry goods. They want $259 for a BakPak II skimmer that can be bought online for around $120. They still do have the best looking corals and fish locally though, and the staff is very friendly. I buy livestock and foods and other small things there even though I can probably save some money buying that stuff online because I'd like to see them stay in business for a while.

 

[JennM]

Originally posted by SaltyQueen
I can understand things being a little more expensive at a LFS, and this is worth the extra for personal service & the opportunity to see the item before you buy it, HOWEVER, I'd have to say that if *most* customers are willing to pay up to a 300% markup for something, they're just plain uneducated about what the fair price should be. A small markup is to be expected, but we're talking about ridiculous, exhorbitant markups here, and that is not right.

Define what you think a "fair" markup is on livestock? How about dry goods?

OK, now consider how much it costs to house all that stuff, pay rent, utilities, employees, etc. Also consider mortality. Perhaps your interpretation of a fair markup and what the business owner needs to pay his bills, are rather different.

Now that you've considered all that, do the SAME when you walk into a clothing store, a grocery store, a furniture store.... businesses ALL need to be run the same way. I always chuckle about stores with huge "sales"... 75% off or whatever- what do you think they actually paid for the inventory they are blowing out so cheaply? Sure they'll lose money on bits and pieces sometimes, but if they are going to stay in business, they still have to clear a profit on each item....

$45 for a pair of jeans that probably cost $2 to make in a developing country.... now on sale for $22.50... what a bargain!

If a store has customers who will buy at the set price, the things will sell, if not, the store either changes its pricing or goes out of business - simple economics and supply and demand...

Just some food for thought...

Jenn

 

[ScottT1980]

Jenn, the typical markup that I am familiar with is in the Veterinary Medicine industry and the standard is about 200% from the wholesale cost. So, in regards to the magnum pump, when I see it online for say $40, then I assume the wholesale cost is approx. $30-$35. So, when I see a LFS selling it for $109, I think that is a bit steep (although if people will pay it, more power to them...I will not).

I understand it is not as cut and dry as my analogy but doubling the wholesale price seems to be a pretty standard practice for most of the retail industry that I am familiar with. Of course, a LFS is an entirley different beast and I take much of it into consideration. Again, I don't think it is "unfair" but as a consumer, I am not going to pay that price. I am a huge proponent of loyalty and subjective retail but it is a two-way street...

It is a hard call, I understand but unfortunatly, there are certain prices I simply will not pay. Again, this said LFS also buys xenia frags from me for $5 and then sells them for $35. I don't think this is wholly Right but again, that is capitalism.

I don't know if I really made sense but oh well, just some musings...

Take er easy
Scott T.

 

[JennM]

Makes perfect sense... and I'm not on a crusade (Honestly ) but it's interesting to see what folks consider "fair" when it comes to LFS but they aren't applying the same standards to other retail businesses.

Livestock is such a variable - dry goods the forumlas are pretty cut-and-dried for markups, but livestock is really subjective.

If a piece or a fish can get more dollars than using the standard formula for mark-ups, it's only common sense to mark it up further. Likewise, sometimes things are a bit overpriced at wholesale, so the retailer has to absorb a loss, or reduce their markup according to what the market will tolerate.

As long as there are people willing to pay big bucks for stuff, prices will vary -- it's all about supply and demand.

Jenn

 

[Montanareefer]

Hey Jenn and Scott!

Both of you have great points and I know what you are saying.

I have seen prices on say a certain coral being so high in price and then go across town and see the same coral for half price. I am sure there is a difference because of number of employees, size of store to operate it, where they get their livestock from, etc.

I think it all boils down to if you buy a certain coral, invert or fish for whatever price you pay then you should be satified with it and move on. If you don't like the high price on an item then pass on it and have patience like I have and sooner or later I have been able to get it for half price or a very reduced price.

I just simply refuse to buy a coral, fish or invert if I know the average price on the net or other stores and the price I am looking at is too high then I just don't buy it.

Another factor to consider is like where I live. I am in the middle of nowhere, Montana so I am sure shipping expenses to get them here is alot higher than in other areas. So much goes into the price of a reef product or livestock and I could go on and on but just a few things to ponder from my point of view.

 

[JennM]

The price of livestock can vary greatly, especially on FISH, depending on how/where the animal was caught.

Would you rather pay $20 for a cyanide-caught fish that will die in 3 weeks to a couple of months, or perhaps $25 or 35 for one that was net-caught, properly packed and handled?

Corals are not cyanide caught, but many are destroyed by cyanide fishing.

Most hobbyists don't know/don't care where things came from or how they got here. It's all about the cheapest price. Cheapest stuff comes from places where the fishing practices *can be* destructive (there are good net fishers in those places too), handling may be sub-standard.

Consider all these things before deciding if the cheapest bottom line price is *really* a good deal.

Jenn

 

[Montanareefer]

Great points Jenn! How is your day going? Talked to Cyberchef by e-mail and he may be checking out this site as well.

You know Jenn what it boils down to me when purchasing an item from the LFS is whether I want it badly enough, don't want someone else grabbing it so I just purchase it regardless of price which I try not to do.

I do ask alot of the times where they get their livestock when it does come in.

 

[SaltyQueen]

When I'm buying something, whether it's aquarium livestock or supplies, a pair of jeans, or whatever, if I know that I can get the same thing somewhere else for less than half of what a place is charging, I'm going to get it at the cheaper place.

If I'm looking, for example, for an new light for my aquarium... someone earlier on this post stated that they saw some lighting equipment in a store for $1500- if I know I can get the same thing on-line for $500, I really cannot justify paying 300% more at a LFS. But on the other hand, if I see a tank-raised specimen at a LFS for, say, $25, & I know I can get the same thing, also tank-raised, on-line, for $15, I'll probably just buy it at the LFS, because I won't have to pay for shipping, I can see the specimen before I buy it, and I can talk to a store employee, ask questions, etc.

What it boils down to is what people are willing to pay for the personal service you get in a LFS. For me, paying an extra $10 is worth it, but paying an extra $1000 for some lights is definitely not. I realize that it is very expensive to run an LFS, and that the overhead is a LOT more than that of an on-line store, but I, like most people, don't have that kind of money to just throw around. What some people consider a reasonable mark-up is relative- it depends on how much money they make, how expendable their income is, and how much they are willing to pay for certain services.