Thread: Inflation low - Except for woodworkers :)

Originally Posted by bueller

I justified upgrading my table saw a couple of weeks ago because I saw the falling dollar was going to hit us hard. Sure enough the price went up by $500 within a week. Was sweating the purchase but actually feel pretty good about it now. Still trying to decide if I should get a LN tenon saw before the price rise hits them too but yeah probably not the greatest time to be splashing cash around.

Yeah it's a tricky one. You know that now is the time to be frugal as who knows hoe bad things will get. On the other hand, price rises are imminent. The price of the plane I just ordered went up about 12% immediately after. I've noticed that LN only raises their prices once the stock they purchased at the prior exchange rate is sold - which is very fair. There is no price gauging going on - just reflecting the exchange rate.

Cheers, Dom

Originally Posted by DomAU

Yeah it's a tricky one. You know that now is the time to be frugal as who knows hoe bad things will get. On the other hand, price rises are imminent. The price of the plane I just ordered went up about 12% immediately after. I've noticed that LN only raises their prices once the stock they purchased at the prior exchange rate is sold - which is very fair. There is no price gauging going on - just reflecting the exchange rate.

Cheers, Dom

Funnily enough I had items saved in my cart from a month ago and sure enough they've gone up 10%. Luckily the Tenon saw probably isn't in high demand so the price hasn't moved. Pulled the trigger and already started taking photos of stuff to send to eBay and fray the cost [emoji1]

Originally Posted by bueller

Funnily enough I had items saved in my cart from a month ago and sure enough they've gone up 10%. Luckily the Tenon saw probably isn't in high demand so the price hasn't moved. Pulled the trigger and already started taking photos of stuff to send to eBay and fray the cost [emoji1]

If you check back you may find that even your purchase has already pushed the price up. But possibly there is a larger number of Saws in stock - as they are no doubt a more popular item. I keep a list of my tools and prices paid and looking back it cost me $650- for all three of the LN saws - Dovetail, Carcass and Tenon back in 2017. I think that my hand tools have been the best performing investments I have made over the last few years certainly don't regret any of them - and they pay regular dividends every time I use them. Although even at current prices I still think LN tools are good value vs many other options.

Did you go with the thin plate or standard plate for your tenon saw?

Cheers,

Dom

Whoa you're right. The price just went up from $350 to $385. Went with the tapered tenon saw which I think is the standard thickness?

Doing some quick maths accounting for upcoming price rises that means the set of saws you got for $650 in 2017 is worth $969 in the very near future. Tools are clearly the correct investment!

Originally Posted by bueller

Whoa you're right. The price just went up from $350 to $385. Went with the tapered tenon saw which I think is the standard thickness?

Yep. Bronze no.3 with 50deg frog is now $729- - that's now off my list. I think I'll panic myself into buying more stuff if I'm not careful lol. No, the tapered tenon is the thin plate version; 0.02" plate I believe vs 0.032" plate of the non-tapered. I think that's the right decision though, I much prefer thin-plate saws and am wishing I went with the tapered Tenon not the standard as I still don't get along with it. I like to let the saw do the work and the 0.032" plate with 0.04" set per side obviously wants you to muscle it through timber which doesn't agree with me.

Let me know what you think of it.

Yeah, a lot of tools I purchased are now an additional 50%-80% more expensive than a few years ago. Shows physical, quality, real stuff trumps fake printed money in the long term. Cash seems to be one of the worst things to have recently - and not even necessarily safe in the bank either.

Cheers,

Dom

It's pretty crazy how much prices have inflated for us in Australia despite the official numbers saying otherwise. I remember a few years ago when I started woodworking, I looked at a set of Tasai Mokume damascus chisels with ebony handles that were around $2000- and thought - that's. Just. Crazy. Now you're looking at over $1200- for a set of Veritas! Holy cow.

Originally Posted by DomAU

Also glad i'm not tempted to buy a Badaxe hand saw now. You'd be looking at around $1000- landed now.

is this a typo? A grand for a handsaw? I must be decades out of touch with prices,
,

Originally Posted by riverbuilder

is this a typo? A grand for a handsaw? I must be decades out of touch with prices,
,

No typo. For a 26" handsaw with thumbhole grip and a walnut handle and black oxide fasters - which add about $60- but in for a penny, you're up for $480 usd. Add $100usd for shipping (what i paid last i ordered) and your at $580usd. With current conversion and some fees you're looking at about a grand and lucky it wasnt earlier in the week when the exchange rate was nearly 10% lower - then you'd be north of a grand and maybe be up for 15.5% gst and duty on top as well.

Cheers, Dom

Cheers Dom, hopefully it arrives before Easter as I have 2 weeks off but time will tell. I'll let you know how it goes! Interested to see how it compares to my Veritas saws, I was a bit underwhelmed with them. I probably just suck using western saws, always found Japanese saws far easier to use.

Originally Posted by tonzeyd

i'd say its probably a number of factors involved here. Obviously all this is not based on evidence but my opinion

- The baby boomer generation is at retirement age/retiring soon. Therefore pushing the demand for said tools.

I want to comment on this point in particular. Ten years ago it was planned that the baby boomers retiring with all their savings and super would go on a spending spree but that has not happened or at least to the degree that the government was hoping. They were the ones who were expected to keep the economy ticking over but that has not happened. Falling interest rates have decimated the savings and income from those savings is not enough to replace the spending so it has stopped and I doubt it will resume in my lifetime so that plan went down the toilet. Don't blame the BB's for price rises, it is a false premise at best.

If you are prepared to wait, my prediction is that we will see a flood of premium tools on the 2nd hand US market on the back of the USA recession that will likely arise from current events.

During the GFC I bought quite a few items at very low prices, many in unopened boxes. The difference here is that our dollar won't be at the same favourable rate as in 2008, but I suspect that you will still be able to get tools at very good prices, even with shipping costs. Keep watching fleabay.

Yep actually saw a HNT Gordon shoulder plane go for less than half price yesterday. If I didn't already have that size in a Record I would have been all over it.

The US Federal Reserve is desperately trying to force down the value of the US currency and they have been successful to some extent. No idea how this will play out but I see our dollar has come back up to 60 cents US.