Whats with the price of Jet Mini Lathes?

[Doug M Jones]

I bought my Jet mini about in March of '07 on Amazon and paid $189 with free shipping. I was showing some pens to a guy at work and he seemed interested in getting a lathe. Told me the next day the Jet mini was $400. He didn't believe what I paid for mine and I didn't believe him on the price. I just looked and he's right. I'm an accountant and know our maintenance staff has been complaining about the price of steel going up 50% but this seems strange. Anybody know what is going on?

I sent him to Craft supplies USA since their price is $249 which is about the same as it was when I got my "deal" at Amazon.

Just wondering

[Russ Peters]

Around June 1st the prices on all lathes (Jet, Rikon, Powermatic) went up by
about 50%. The reasoning was that the cost of fuel, the cost of manufacturing, and the weakening of the dollar caused this.

[Dean Matthews]

I had noticed the same thing the other day. I have the Jet 12x20 mini lathe and my dad is interested in getting one... They are like $500 now! I was SURE that I did not pay that much.

[Andrew Derhammer]

The cost of steel has been going through the roof irrc.

[Leo Van Der Loo]

The cost of steel is a minor amount, as the cost of steel went from 80 cents to 120 cents a kilogram,(May 07 to May 08) and the lathe weights 37 KG, that would make the steel cost less than $15.-- extra, I assume there are some other reasons to increase the price.

[Jason Whelehon]

Even with my employee discount I couldn't justify a Jet! I went with the VS Steel City and I'm liking it so far.

[Phillip Bogle]

I know that most of the lathes are manufactured in Asia. I suspect the greatest culprit is the weakening of the US Dollar in world markets. I know this had had an effect on the marketplace. The cost of steel may not change that much but the USA manufactures or produces very little anymore. Based upon a percentage of manufacture to consumption we are heavily dependent upon offshore markets and producers. If our consumption decreases the world will feel it to be sure, but the price will go up and that causes the next round of decreased demand and up scale of pricing. Round and round. With the volatile fuel market, manufacturing and marketing corporations are hedging their cash flow against anticipated future price increases, which is the same thing that the oil companies are doing. Buy at todays market bearing price and sell at the anticipated future price, if they do not the corporations will not be able to afford tomorrows purchase. Been there. It is ugly, I am not excusing the situation away. I do suspect that nothing will drop so far that you will see those prices again. If you can find it cheaper now, buy now. JMHO:)

[Chris Barnett]

Strange they would do that and kill sales of a decent little lathe; I too was about to buy it for portable use in the motorhome. Just leaves room for a good competitor to move into that area. Griz could come out with an exceptional little lathe that would beat the socks off the Jet. I don't buy that steel cost has driven this increase; if you think so, check the price of the 15 or 20 inch planer or the 3520B, nothing approaching 50% (i.e agree with Leo). That stopped me from buying more Jet or Powermaniac powertools (same company). Thanks for the heads up on Steel City; need to go look at them now.

[Alan Trout]

If you are in the market for a small lathe look at the PSI unit. Pretty decent for the money.

Good Luck

Alan

[Gordon Seto]

Because they can.
If the reason is solely weak dollar and steel price, why the Nova 1624 is still on sale for under $1K?
Jet is able to raise their price on lathes because the competitors are not serious in lathe design. There is no real competition.

I have never turned on the Steel City lathe, but looking at the specs of their 5 speed mini, the speed range is not desirable.
http://www.steelcitytoolworks.com/products_tools.cfm?section=2&category=8&tool=60170
Speeds: 500, 1300, 2100, 2750, 3600 RPM
The 1st and 2nd speed has more than 2½ times jump, that is too dramatic. While the higher speeds are crowding.

The tool post on the Grizzly VS mini is on the wrong side of the banjo for inboard turning. It prevents the tool rest getting close when turning a bowl close to its capacity.

If the competitors spend some money on designing and manufacturing some real lathes, instead of putting bells and whistles on other brands' successful products, competition will be good for us, consumers.

I believe Jet has frequent sales on the 1642 1.5HP is no coincidence that Grizzly has made and marketing its clone.

[Russ Sears]

Phillip's got it right I believe. I bought mine early this spring and a month or two it went up $100. I was told that the weakening dollar was the biggest culprit. The buck's strengthening a bit lately so maybe it will inch down a bit. Competition's got to help that too.

[Robert McGowen]

I purchased a Jet 1642 2HP last December for $1399 delivered. They are showing to be $2688 delivered on Amazon right now. The line to the wife, "I need this now because tools appreciate over time" finally came true! ;)

[Brodie Brickey]

Because they can.
If the reason is solely weak dollar and steel price, why the Nova 1624 is still on sale for under $1K?


They had room in their original pricing structure to eat the cost. Nova also doesn't sell real volume. Jet makes its money primarily on volume of sales. The dollar has been weakening for at least the last 4-6 years.

I would bet that the power of the dollar, cost of steel (up 50%) and ultimately shipping costs were the main issues. I've certainly become more aware since I've been dealing International.

[Ken Fitzgerald]

I would bet the price of transportation is the major culprit. Most of the ships that bring that stuff over are diesel.

[Andrew Derhammer]

Strange they would do that and kill sales of a decent little lathe; I too was about to buy it for portable use in the motorhome. Just leaves room for a good competitor to move into that area. Griz could come out with an exceptional little lathe that would beat the socks off the Jet. I don't buy that steel cost has driven this increase; if you think so, check the price of the 15 or 20 inch planer or the 3520B, nothing approaching 50% (i.e agree with Leo). That stopped me from buying more Jet or Powermaniac powertools (same company). Thanks for the heads up on Steel City; need to go look at them now.
Grizz does have a few
http://www.grizzly.com/products/category.aspx?key=565000

[byron constantine]

I got my 1642 for 1280 last june, long story.
Byron

[Phillip Bogle]

Because they can.
If the reason is solely weak dollar and steel price, why the Nova 1624 is still on sale for under $1K?


One answer MAY be that Teknatool is in New Zealand. Some offshore companies get large subsidies to bolster their ability to compete. Some nations have paid our corporations to move a branch or plant to their country. I am not saying this is for fact in this case. I am saying this might be one possible answer to your question. This has happened before. If I am not mistaken that Japanese subsidized their auto manufacturers just to build a competitive industry. I am not against other countries or buy their products. I am seriously considering the Nova 1624-44. I need power and size on a smaller volt/amp circuit.

I have to agree that Jet and Grizzly do clone -- which copies which or is it one China manufacturer with different labels ...well??? I am not certain. I know that my drill press, table saw, band saw look the same as others but just green and theirs is "insert the color of the day here".:)

One other item that we need to remember is that any excuse is a good excuse in some CEO's minds. Some reasons are legitimate and some -- like you say -- because they can.

[Gordon Seto]

One other item that we need to remember is that any excuse is a good excuse in some CEO's minds. Some reasons are legitimate and some -- like you say -- because they can.

To grow the business and maximize the profit is the CEO's job.

The Jet 1642 has been around for at least 4 years. The Grizzly G0632 is only about 1 year old.
I doubt both were coming out from the same manufacturer. China has a lot of small factories. They use sub-contractors for flexibility. Paid by the piece is very common. It is up to what standard the buyers accept.

I can guarantee you that nesting 7 $35 salad bowls from Mike Mahoney didn't have as much attention from him as a $3500 set of nesting bowls.
They might have been turned on the same lathe and by same operator.

[Mike Peace]

I attended the IWF show in Atlanta today. I was shocked to see the Jet 1642 2HP being used as a demo selling for about $2200 show price as I recall. The PM3520 showed a list price of about $4100 and had a show price of $2999! Sure glad I bought my PM in early Feb. I had a feeling we would see some price jumps.

[Jason Whelehon]

I have the Steel City VS lathe and LOVE it!

http://www.steelcitytoolworks.com/products_tools.cfm?section=2&category=8&tool=60100

[Greg Narozniak]

If you are in the market for a small lathe look at the PSI unit. Pretty decent for the money.

Good Luck

Alan

Ditto, I love mine. Worth the $$$

[Bernie Weishapl]

There are several factors involved. Price of fuel, steel going up and the weak dollar all contribute to this.