Lee Valley Price Increase :(

[Hasin Haroon]

I've been trying to get my hands on a Veritas Low Angle Jack for a few weeks now, since early January. For a while now they've been out of stock or limited quantities online & in-store. I visited my local store twice when they had them in limited quantities, and both times found out they were just sold out, the second time actually had to watch another gentleman walk away with what I assume was the last one. I've been watching the status online (expected in store February 18), planning to go in on the 18th to make sure, but today I refreshed my cart and notice the price went up by around 5% over last week. Looking at the items in my wishlist, like the cabinet scraper and the shooting plane, it seems the price increase was applied to all the woodworking tools. Is there a fixed time that the price increase occurs every year? That would be good to know for planning purchases. I assume it is something to do with the poor loonie :(.

Just goes to show that sometimes it doesn't pay to have patience!

[Kurt Cady]

Are you sure you are looking at the right country or something?

i show a price of $257. I paid $249 in March of 2012...

[Hasin Haroon]

Hi Kurt. I'm in Canada. I think we've had almost an annual increase for the last couple of years since the loonie tanked, comparing some of the prices of the items I bought 2 years ago to now. The price of the LA Jack (PMV11) was around $280 last week, and has been upped to $299 now.

[Bill McNiel]

I just checked 3 planes and no change in pricing here.

[William Fretwell]

New year price increases are normal, if stuff is going up that's when they do it. December is crazy busy in there so Jan is when fewer people will notice.
When the Canadian dollar tanks they put up 'Prices in Catalogue are out of date due to currency changes' signs. I think last time they did that the Veritas tools I checked did not change in price and some imported products did not change either. I 'panic' bought the last diamond lapping plate in the store! Even today it's only $30 more.

My qualitative impression is their pricing is fair. The weak $Cdn must be greatly helping their exports.

What if Trump slaps on tariffs?

[Patrick Chase]

I just checked 3 planes and no change in pricing here.

Although they manufacture in Canada, some of their raw inputs (iron, tool steel, etc) are in US dollars, which means that their manufacturing costs in $CDN have likely increased as the Canadian Dollar has weakened. I suspect that's why they've been raising their Canadian prices (as Hasin observed) while holding their US prices steady (as you observed).

It looks like $CDN is headed back up though, at least since Trump started trying to jawbone the USD down.

[glenn bradley]

Just goes to show that sometimes it doesn't pay to have patience!

Patience is fine but, when you want a known item and you know there has been a pattern of almost annual price increases . . . place your order now. Grizzly, Lee Valley and others are pretty good about keeping you apprised of coming price increases if you subscribe to their newsletters/emails. I have noticed some folks who were smart enough to buy a few of some items years back are now starting to sell them as "New Old Stock (http://www.sawmillcreek.org/showthread.php?250656-Veritas-Lee-Valley-Planes)".

There are times when I want a particular item. I will put in a good effort to get the best deal but, if it is something I know I will eventually buy, I try not to be too picky and end up losing out. I do share your pain of leaving something in the cart just a bit too long or passing on something hoping to find a better deal and having it not materialize; BTDT.

[William Fretwell]

Up is a relative term after a period of near parity. Paying 30% more in the US or 15% less in the UK, even Japan had good pricing for a while but their good chisel makers are done & gone, the new super steels attempt to fill the gap.
Fortunately with wood work you can do a lot with very little.