…Maybe you could offer your professional opinion on what a fair price (not words. £) would be for a fair condition part.
There is no fair price and it can’t be expressed in pounds. Instead:
- a customer needs an obsolete part to fix a broken old machine that’s long out of support. A repaired machine has value, which only the customer knows. That value determines the maximum price the customer should pay for the spare (and fitting it). The value of the spare to the customer has no relationship with the cost of the spare.
- suppliers keep spares in hope a needy customer will buy one. Keeping a stock of spares costs money: rates, electricity, security, admin, stock-control, post, packing, wages, tax, wastage. The customer isn’t paying for the item alone, the asking price covers a long list of overheads, plus profit. And it’s risky: a proportion of the stock will never sell, so keeping it for a few decades is a dead-loss. Losses overall are counterbalanced by stuff that does sell, making them more expensive. It’s a business.
Value varies. If a customer needs the last spare in the world, he can expect the seller to try and maximise their profits by demanding a high-price.
If the spare is common, the seller drops the price considerably, enough to cover their overheads plus a small profit. It’s usually more profitable to sell a large volume cheap, than a few at high prices, but many people fall for “reassuringly expensive”, assuming it must be good because it costs a bomb. Or might sell at a loss just to get rid of an unprofitable line, because that offsets losses by bringing some money in.
Another example: when the owner of my local radio shop retired he couldn’t find anyone to take the business on. The value of a profitable business fell to zero. To reduce losses, he ran a series of sales, successively dropping asking prices in hope customers would be tempted. They were, but on closing day, everything that was left was dumped in a skip in the backyard, value negative, because he paid for a skip and disposal. Contents free to passers-by. Nothing fair about any of it.
Buying spares, tools, and metal in hobby quantities means we pay substantial overheads for the service. So, buying metal, it pays in the long run to buy in quantity not dribs and drabs. Buying full lengths removes cutting costs; sending by courier involves packing, and their fees, so order a bung it on the back of a lorry load; large orders reduce admin costs. Small sales are so expensive, that many suppliers don’t do them at all, or have high minimum order quantities. They’ve given up explaining to domestic customers why the retail price of steel is so high compared with wholesale, about £400/ton wholesale, less if you buy more than 50 tons…
So I pay an inflated price for steel in small quantities, because I don’t have space for a ton. Space is more valuable to me than a lot of low cost metal. It’s not unfair.
No point in moaning about it, our job as customers is to do the best we can. Watch the cost of repairing old machines, often only affordable if we do them up as a hobby.
You could reverse engineer the broken hook and make your own: potentially expensive in time and money if it takes several tries. I’d 3d-CAD model it and use 3D-prints as templates, tweaking the model until one fitted. Then I’d make the real one in steel, mostly by milling. If you did that how much would it cost, and what would be a fair selling price? A few thousands if you don’t already have a computer, CAD and a 3d-printer, plus the skills needed to drive them. But doable at reaonable costs if you have the necessary already, especially time.
Not easy to be a customer or supplier. The world isn’t fair. What’s your budget? The machine might be “BER” – Beyond Economic Repair.
Dave