Festool price increase announced.
jointerman
| Posted in Power Tools and Machinery on
I cannot believe this. I just got an email from McFeely’s saying that Festool will increase their prices February 1, 2009. This is unbelievable!
As of their last price increase the Euro has fallen against the dollar by about 20% and the rest of the world is spiraling into a deflationary recession. Even the of raw materials (aluminum) and energy have fallen!
Don’t get me wrong, I love my Festools. But isn’t Festool being arrogant in announcing a price increase in this worldwide depression?
Replies
Probably insurance against the coming american hyperinflation caused by running the presses at high speed with nothing to back the dollar.
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Men will never be free until the last king is strangled with the entrails of the last priest.
~ Denis Diderot
Hyperinflation? I guess that should happen, but it seems like we are actually headed toward a deflationary spiral.
Deflationary for existing inventory..
Hyperinflationary when production begins to ramp up again,
it's going to cost more to do business in the future,
post this recessionary time..
Money ( for one) will not be as easily available
Norman
Don
I thought that was you at the far end of the room running that blue printing press!!
LOL
They're back in the hills of Deadwood looking for enough gold to back all that paper.
Happy Holidays!
Jeff
It will get to the point that " it ain't $that$ good!", It does seem greedy.
Jointerman,
Even though I think their sanders and dust extractors are heads and tails above anything else on the market, I have not been able to bring myself to buy from Festool exactly because of this arrogence.
I got the same email from McFeely and couldn't believe it. Many are double digit precentage increases.
I don't fault anyone for buying Festool; quality is quality.
Maybe I'm just making a stubborn stand?
Dewalt recently came out with a circular saw with guiderail that looks like a knock-off of the festool saw. I am waiting for Dewalt to come out with a Domino knock-off, too. I am wondering when competition will finally drive down the cost of Festool products once the knock-offs proliferate.
They did, but wait till you see the price. More than the Festool.Work Safe, Count to 10 when your done for the day !!
Bruce S.
More then the FT? I was told (by the rep from Dewalt) that the saw was about 400 or so with guide. What is FT selling thiers for?
Doug M.
I'am on a few days off and only have an 07 FT catalog here at home. But we did look into carrying the DeWalt and I believe it was going to be about $50 to $65 more than the FT. Plus they were going to make us order, I believe three saws and six rails. Now why would we need three extra rails in our inventory? IMHO The TS55EQ is a better saw and the rails are also compatible with the other FT products. The Battery powered DeWalt plunger was insanely priced. $700? Not even worth remembering!
Update:
Did some "homework" Current price for Festool TS55EQ is $475. DeWalt DWS520SK is $499.
My $$ would go for the German Engineering and Mfg.
Work Safe, Count to 10 when your done for the day !!
Bruce S.
Edited 12/10/2008 4:06 pm ET by BruceS
A good way to accelerate planned purchases is to announce a price increase... and then in a few months "current economic conditions do not favor implementing price increases".
Just to jump in here on your comment on driving business through future price increase announcements: You Nailed IT.
Jim
The price of a product should be finalized by the amount people are willing to pay. The cost that it take to produce that product vs. that cost the market will pay determines whether it's worth being in that business.
I own no Festool tools, but they are certainly filling a hole in the market that was willing to pay quite a premium to be filled. Clearly, Festool is doing quite well. You will see these increases as long as people keep paying and nobody directly competes.
Good for Festool. Well Done!
You said it. I own a Domino and it is worth every penny I paid. I don't know how many more pennies I would pay for it but someone will pay more I am sure. As for the sanders and vacuums I have never understood the difference but maybe just because I haven't used one yet.
The quality of the Domino is far better than anything else on the market, that is why they are expensive. If someone doesn't like the higher prices then don't buy the tool. Protest the price hike with your pocketbook. Bob
" If someone doesn't like the higher prices"... Bob
I couldn't afford the old price...
"then don't buy the tool. Protest the price hike with your pocketbook"..
Where do I sign?....
Sarge..
not a professional in need of FT (if I were a professional I would view it differently) or a Festool Junkie on a quest to own the best... :>)
Edited 12/9/2008 11:38 am ET by SARGEgrinder47
You have two sides here. On one side you have a bold business that's gone against industry trends and is being rewarded for the risk they've taken with high (and rising) demand for their product. On the other hand you have individuals that think that business should comply to their individual price points. And these individuals are calling the business greedy for not complying to their specific needs? A little ironic.
Profit and success seem to be such evil ideals today.
Rest assured all you complaining individuals, if Festool's being greedy (which I doubt) they will be reading Chapter 7 in the near future.
Matt
No representation without taxation
Edited 12/9/2008 11:46 am ET by MattInPA
Edited 12/9/2008 11:47 am ET by MattInPA
Matt, I couldn't agree more. I see the same thing in the cabinet business. Heaven forbid my clients find out that I am trying to make a profit with the work I build for them. Shouldn't I just be happy to still be in business? I guess making any profit on the high quality of my work makes me greedy. Same feeling goes for Festool from some I suppose.
Personally I don't care how expensive their tools are or will be in the future. If I need the tool bad enough, i.e. Domino, I will find a way to pay for it. If I don't need it, i.e. $500 vacuum cleaner, then I won't pay it. I see no reason to complain about it though. What's the point, if you can't afford it don't buy it. I can't afford a 60" LCD TV but I don't complain that they cost a lot of money. Bob
Ha.. ha... ha..ha..ha.. Very well said, sir...
Sarge..
Just about the only thing I do not have an issue with about Fess Tools is the price. They can charge anything they feel like, it is after all their company.
If you want to pick on them about something, go after why they need a different quick release Screwdriver bit then every other drill on the planet uses.
Doug M. (not a user or fan of Fess tool)
All in the family and... the familes purse strings. A normal bit is inferior to the FT design in both quality and design function I bet. Probably has great dust collection also. Certainly makes sense to me. Hence.. a special need bit for a special designed tool that requires special accessories.
And I agree that they should charge whatever they wish to charge as it doesn't take a single penny from my pocket. It's very good stuff for professionals but I'm not a professional so.... I'll attempt to get by with less in these hard times. I have a feeling I will succeed as I am determined. :>)
Regards...
Sarge..
Some say they had rather pay once for a good tool than to pay two or three times to replace lesser quality tools that produce lesser quality results.
In hand planes there is LN and LV which cost several times what a Groz or current model Stanley does.
In circular saws, sanders and routers there is Festool which costs considerably more than a DeWalt or Porter Cable, Craftsman, et al ....but if you use each for a while, you would choose Festool, if affordable, over the others for the same reason you would choose LN or LV over Groz and current model Stanley. The Festool is better engineered, better bilt, longer lasting, quieter and much more precise than any other tool I have ever used. That is the reason I use Festool TS55Eq plunge saw, plunge router, orbital sander, domino, and one Festool CT vac that fits every one of them. These tools acquired over years and were expensive ..... but only once.
One man's experience and opinion.
JP
I think you may have directed this to the wrong person. I clearly have no problem with what they charge.No representation without taxation
You must be doing well!
Jim
Bob,I think I will be protesting with my pocket book against Festool. I think I'll also tell my tool guy that he should let Festool know that a price increase in this economy is lame!Fortunately, I think I own all the Festools I need... for now. Though a tool like the Domino would be a nice addition to make some of my home projects go faster. It's always an internal struggle of when to make try to make traditional joints versus getting the project done with less frustration so that I can enjoy the finished product.
I don't understand the bitter anger when this company raises their prices. These items are not being FORCED on anyone. There is a lot of competition out there waiting to sell to you at your price point.
Better life through Zoodles and poutine...
I just brought home an 08-09 Festool catalog if anybody needs prices. Be gentile and patient if I get inundated with requests.Work Safe, Count to 10 when your done for the day !!
Bruce S.
Don't go crazy, Bruce. McFeely's did the work for you!
http://www.mcfeelys.com/info/festool-alert2.htm
-Norm
"I think I will be protesting with my pocket book against Festool"I am waiting for the RYOBY version at $ 99.00 - it wont be long, and it won't be bad! I bet in six months you will be able to get the entire shabang for under three hundred - vac, domino, rotary saw and guide!
Jim
No they are apparently in the troughs of going out of business.
Jim
Looks pretty odd to me. I can't imagine that raising prices in the current worldwide recession is a rational idea. Demand is down, raw material costs are down, and competition for their tracked saw concept is quickly rising. That is not when competently managed companies raise prices.
It's like saying to DeWalt, let us make it a lot easier for you to steal market share, by raising our prices just while you are rolling out a competitive product, with strong brand recognition.
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