Gang -- it is everyone's right to question a Company's pricing and ultimately, we all get to vote with our wallet. I will be the first to say that some of the things on our price list need to be revised. We will be getting to that in the next month or two, probably for a January 1 roll out...
That said, some things will go up in price and some things will go down, but at the end of the day, we will be making the pricing more rational and well thought out (something that we now have the time and skill set to get done).
Undoubtedly, there are still going to be a fair number of folks who will see Fodera's pricing as being too high and I can totally respect that. On the other side of the coin as a customer of the Company before becoming an owner -- I paid those prices several times, for several builds and seeing the amount of time that goes into the instruments -- wow, I now completely understand the pricing.
One simple example -- our wooden pickup covers are all made 100% by hand. There are no jigs, no machined parts, nothing. They start as two glued up blocks of wood and are then hand worked for 1/2 day (a fair bit longer if they match the instrument's top and need to be spray finished). Over the years the guys at Fodera never asked how to do things less expensively...they just tried to make the best product and however long it took to make things "right," that's how long it took.
Does it make sense to have such a painstakingly slow build process where EVERYTHING is done 100% by hand? It depends on the view of the Customer and the business owner. The Customer's decision is ALWAYS RIGHT for that person, but then again so is the business owner's. The real question is do the wants and needs of the Customer match up with those of the business owner? Thank goodness that the world has all kinds of Customers and all kinds of builders...we each end up getting to find the right ones to work with.
I wish Foderas could be less expensive so that we could get them into the hands of a lot more players. Believe me, we don't want to be an "exclusive" brand. We do, however, want our product and service quality to be at the VERY, VERY top and we will always ask ourselves what the best way to serve the instrument is...and then price them based on where we end up. This is the direct opposite of the way most businesses function (i.e. engineer the product to meet a certain price point).
It's funny, Fodera went the latter approach with the NYC line -- trying to make as good a bass as possible, to as closely resemble the Fodera experience as possible (while adding a touch of Vintage Vibe) to meet a certain price point. At the end of the day, it is far harder for us to sell those instruments than it is to sell our Custom pieces. We have several very nice NYC's available for immediate delivery at all times and yet the wait time for a Custom instrument is 2 years...
We are trying very hard to become more organized in the back of the shop so that we can reduce build times, we have injected a lot more working capital into the business so that be can afford to buy things in higher volumes and get better pricing on materials and supplies and that will hopefully payoff for all of us (Customers and owners). We'll see and I promise to keep you posted on how we are doing.
As a final point...when I first approached Vinny and Joey about becoming their partner, it was because I saw some of the very finest craftsmen in the world literally struggling each week to pay the bills to continue operating their business. The conventional wisdom that the Owners of Fodera got rich because of the high prices of the instruments is just dead wrong. Frankly, Vinny, Joey and me are a bit nuts. We really do put the quality of the instruments before ANYTHING else and we do it in a way that hopefully is unique and wonderful. This kind of business philosophy is incredibly rare these days. We all hope that enough people out there continue to dig what we are doing enough so that we can keep doing what we love for a really long time.
Peace.