Members brianeharmonjr Posted December 10, 2010 Members Share Posted December 10, 2010 Other items have less margin, some items have MUCH more than 100% margin. Cables and other accessories for example. Look at a store like best buy selling a printer cable or usb cable or hdmi cable or something like that for 30 or 40 bucks. Their cost on those is probably less than 10 bucks, maybe even closer to 5 bucks. I can only imagine the markup on things like instrument cables and speaker cables and mic stands and {censored} like that. I'm willing to bet that it's more than 100% on most of them. Well, you're almost completely wrong. Having worked in a music store, accessory stuff has the biggest profit margins, but almost never over 50% (example, costs $10 and sells for $20), especially in the internet age. Electronic stuff is the absolute worst (keyboards, effect pedals, recording equipment). Horrible margins on that stuff. Link to comment Share on other sites More sharing options...
Members guitarman3001 Posted December 10, 2010 Members Share Posted December 10, 2010 Well, you're almost completely wrong. Having worked in a music store, accessory stuff has the biggest profit margins, but almost never over 50% (example, costs $10 and sells for $20), especially in the internet age. Electronic stuff is the absolute worst (keyboards, effect pedals, recording equipment). Horrible margins on that stuff. costs 10 and sells for 20 is a 100% markup, not 50%. Like I mentioned earlier, I agree with you about accessories having the highest markups. They are often over 100%. But guitars have huge markups too. Much more than people think. And if you listen to the salepeople at GC, they try to make it sound like the markup on a 1500.00 guitar is about 20 bucks!!! I have another example. Not sure what the current cost is right now but a while back a friend of mine got a MIA fender tele at cost from GC in return for a favor he did for them. The marked price on the guitar was something like 1200.00. GC's actual cost? $400.00. That's a 300% markup. Link to comment Share on other sites More sharing options...
Members jamdogg Posted December 10, 2010 Members Share Posted December 10, 2010 As a suggestion for the Valve Jr buyers I recommend as a best dollar spent upgrade either the OT8SE or the OT10SE Output Transformers from Musical Power Supply as a equal choice to the Hammond ones. Cheaper and Matt is a great guy to deal with. The Output Transformer upgrade really made a big difference on mine (I have the Version II) more so than changing tubes. Your going to love your new amp. I guarantee it! Mine just shipped. Did you go with the 8SE or the 10? Link to comment Share on other sites More sharing options...
Members kulardenu Posted December 10, 2010 Members Share Posted December 10, 2010 Mine just shipped. Did you go with the 8SE or the 10? I used the 8SE for my combo Valve Special & the 10SE for the head. He recommended the 10 for the head if I were going to use bigger speakers. Link to comment Share on other sites More sharing options...
Members brianeharmonjr Posted December 10, 2010 Members Share Posted December 10, 2010 costs 10 and sells for 20 is a 100% markup, not 50%. Like I mentioned earlier, I agree with you about accessories having the highest markups. They are often over 100%. But guitars have huge markups too. Much more than people think. And if you listen to the salepeople at GC, they try to make it sound like the markup on a 1500.00 guitar is about 20 bucks!!! I have another example. Not sure what the current cost is right now but a while back a friend of mine got a MIA fender tele at cost from GC in return for a favor he did for them. The marked price on the guitar was something like 1200.00. GC's actual cost? $400.00. That's a 300% markup. Costs 10 and sells for 20 is 100% markup, but its 50% profit margin, as I said. Don't know what GC pays, but working at a small shop that is a Fender dealer and has been for many years, we pay WAY more than $400 on a bass that MAPs for $1200. More than double, in fact. So, GC's discounts from suppliers are either incredibly higher than small shops, or you friend didn't get his terminology correct. Link to comment Share on other sites More sharing options...
Members George Jetson Posted December 10, 2010 Members Share Posted December 10, 2010 costs 10 and sells for 20 is a 100% markup, not 50%. ACCOUNTING 101 *AGAIN*Except he is talking about profit margin, not markup. Markup is calculated [(selling price-cost)/ cost]*100. For your example, [(1200-400)/400]*100 = 200% markup Profit is calcluated [(selling price-cost) / selling price] *100. For your example, [(1200-400)/1200]*100 = 66% profit margin Now let's keep the hyperbole to a minimum. It is usually more effective to negotiate profit margins than markups, because markups are always an inflated number. Link to comment Share on other sites More sharing options...
Members Cobalt Blue Posted December 10, 2010 Members Share Posted December 10, 2010 My math skills suck. What would be the final price? In his own words Link to comment Share on other sites More sharing options...
Members guitarman3001 Posted December 10, 2010 Members Share Posted December 10, 2010 In his own words doesn't take much in the way of math skills to know that 20 = 10 x 2. Link to comment Share on other sites More sharing options...
Members jhamnett Posted December 10, 2010 Members Share Posted December 10, 2010 Ibanez FL9 Flanger Reissue - $49.99 sale http://www.musiciansfriend.com/product/Ibanez-FL9-Flanger-Reissue?sku=150342Music 123 will not price match -23% due to this item being a backorder item - although still a good bargain at Musicians Friend for the sale price I got a M123 price match Link to comment Share on other sites More sharing options...
Members Smithshred Posted December 10, 2010 Members Share Posted December 10, 2010 I got a M123 price match who did you speak with? I tried two different individuals Link to comment Share on other sites More sharing options...
Members jhamnett Posted December 10, 2010 Members Share Posted December 10, 2010 who did you speak with? I tried two different individuals Online quote, but it says my CS rep was Andrew PA Link to comment Share on other sites More sharing options...
Members Yarbicus Posted December 10, 2010 Members Share Posted December 10, 2010 "Your order has shipped!" Wasn't sure the Valve Jr would actually happen but odds just improved! Not holding my breath on the Hamer Standard, though. Link to comment Share on other sites More sharing options...
Members jhorne Posted December 10, 2010 Members Share Posted December 10, 2010 I got a M123 price match Looks like the price on the FL-9 is back to $129 at MF. Wonder what the odds are that everyone that ordered one for $49 will get a 'order canceled' notice like we did with the $4 strings. Link to comment Share on other sites More sharing options...
Members Tonedoc Posted December 10, 2010 Members Share Posted December 10, 2010 I got a M123 price match Party's over ~ They obviously had made a pricing mistake at Musicians Friend on the Ibanez FL9 Flanger for $49.99 - The pedal is back up to $129.99 at Musicians Friend. Those who got in on it earlier - Gratz! Link to comment Share on other sites More sharing options...
Members Tonedoc Posted December 10, 2010 Members Share Posted December 10, 2010 I have already recieved an order shipped confirmation from Musicians Friend (although) they said on backorder when I placed the order) and I have the tracking info as well. So mine went thru with Musicians Friend. Hooray 4 me! Link to comment Share on other sites More sharing options...
Members drivelikejoewho Posted December 10, 2010 Members Share Posted December 10, 2010 Not holding my breath on the Hamer Standard, though. From what a CSR told me this morning, they are getting more today I believe (if I understood him correctly) and they should process the orders over the weekend. So we'll see I guess. I called last night before I ordered to see if they were going to get more in stock because i was going to buy something else if they weren't. They gave me the # to wwbw (who were already closed) to see if they'll be getting more in. I assume the two are connected and maybe it is possible they gave M123 some of their stock? They are still for sale on WWBW and appear to be in stock.*fingers crossed cuz i really want this* Link to comment Share on other sites More sharing options...
Members cuppster Posted December 10, 2010 Members Share Posted December 10, 2010 Costs 10 and sells for 20 is 100% markup, but its 50% profit margin, as I said. Don't know what GC pays, but working at a small shop that is a Fender dealer and has been for many years, we pay WAY more than $400 on a bass that MAPs for $1200. More than double, in fact. So, GC's discounts from suppliers are either incredibly higher than small shops, or you friend didn't get his terminology correct. The MF/GC/M123/etc. family of store most definitely get huge volume discounts from Fender and Gibson, and probably most of their other suppliers. Most local shops can't get nearly the same wholesale prices. It's no different than any other industry, where big box stores can easily undercut their small market competition. Link to comment Share on other sites More sharing options...
Members suntired Posted December 10, 2010 Members Share Posted December 10, 2010 Just scored the Epi Valve Jr for $60.37 shipped...at first Tiffany quoted that price + shipping, I told them about their 3 day special of free S&H over $49, & Andrew Pa wrote back w/ the $60.37 shipped. Thanks all for the heads up! Link to comment Share on other sites More sharing options...
Members MikeArta Posted December 10, 2010 Members Share Posted December 10, 2010 I tried for a price match on the Epi Valve Jr @ Music123 this afternoon and spent a half-hour on the phone to no avail. They refused to match it because it's an in-store only price. Link to comment Share on other sites More sharing options...
Members Orange Jackson Posted December 10, 2010 Members Share Posted December 10, 2010 I tried for a price match on the Epi Valve Jr @ Music123 this afternoon and spent a half-hour on the phone to no avail. They refused to match it because it's an in-store only price. Keep trying.. Link to comment Share on other sites More sharing options...
Members IBDBB Posted December 10, 2010 Members Share Posted December 10, 2010 I submitted my price match quote yesterday and it came back within minutes..$60.37 shipped Link to comment Share on other sites More sharing options...
Members PsychWarfare Posted December 10, 2010 Members Share Posted December 10, 2010 Submitted the PM on the Valve Jr this morning and no more than 30 minutes later they matched it at $60.37...the inconsistency is wild...but keep trying... I'm going to sit on the quote until next weekend and will probably snatch it up then... Link to comment Share on other sites More sharing options...
Members jamdogg Posted December 10, 2010 Members Share Posted December 10, 2010 For those keeping score, i just got the 16$ shipping waived on the VJR. Even without that it was cheaper than the GC price. Shoulda bought 2. Link to comment Share on other sites More sharing options...
Members sasjf Posted December 10, 2010 Members Share Posted December 10, 2010 I tried for a price match on the Epi Valve Jr @ Music123 this afternoon and spent a half-hour on the phone to no avail. They refused to match it because it's an in-store only price. After 1/2 hour on the phone I was able to get the Epi Valve Jr for $60.37 shipped after getting email PM with shipping charges - Probably the best way to get this deal would be to email pm (they will probably add shipping) purchase and pay, get your confirmation - then call CS for free shipping credit. Link to comment Share on other sites More sharing options...
Members sasjf Posted December 10, 2010 Members Share Posted December 10, 2010 Submitted the PM on the Valve Jr this morning and no more than 30 minutes later they matched it at $60.37...the inconsistency is wild...but keep trying...I'm going to sit on the quote until next weekend and will probably snatch it up then... If you want the amp I would not sit on the PM - they will probably try to weasle out of the deal.... Link to comment Share on other sites More sharing options...
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