I’m interested to see what people’s opinion are of the 2 questions below… Let us know what you think:
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Have model train retailers discounted prices because of the current economy?
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Are you spending less on model railroading becasue of the economy?
No and No,Why?
I am sure there are ‘blow out’ sales by some dealers. Toy Train Heaven(Bowser) seems to send out sale emails every week! I am sure they are trying to reduce inventory and get rid of the older/slow moving items. I will be attending a large Train Show next week and it will be interesting to see if the ‘usual’ dealers are there and what they have for inventory.
Myself, I have been spending less(other than the Walthers Hiawatha stuff this past year). But it really has had nothing to do with the present economy. Now, that might change in a couple of weeks - My employeer is rumored to be cutting something like 16,000 jobs(out of about 200,000) and I am within 3 years of retirement(feel like I have a ‘bullseye’ on my back). My 401K has been stalled for the past year(lost 6%), and I have 3 years to go before SSAN kicks in. I am putting off signing a contract for new windows/doors($20,000) until I know what is going to happen. At least I have a ‘defined’ pension I can start collecting on…
Jim
There is a school of thought that a downturn in economy is good for hobbies because people turn inward and become homebodies. Who knows at this point if this will be the case. I for one have spent more in the last 6 months, but that was not hard as I had virtually no spend for the previous year.
Why?
Retailers had a terrible holiday season and are offereing discounts on everything else in order to try to stay afloat. Does this also apply to the Model Railroading/Hobby business?
Personally speaking I have not changed my spending habits at all because my wife and I have secure jobs. That being said I think model railroading still remains a somewhat expensive hobby to get a good start in.
Businesses are closing and people are losing their jobs. People who are concerned about getting laid off may cut back on their spending. Just curious to see if the economy has had any effect on you directly relating to Model Railroading.
I’m on a fixed budget vis-a-vis my income so my purchases have been fairly spread out—that is what saving is all about—build up the cushion—spend some of it----
1] One LHS is shutting down because of Internet competition, so he is offering discounts. 2] I’m spending more because I’m revising my layout – actually, completely rebuilding it. The economy seems good here, since it is oil production driven. Help wanted signs everywhere. In fact, there have been several store and factory closings due to shortage of workers [minimum wage up to $15/hour wages]. I think the recession is largely a media story.
I tend to agree with you on this. We put to much faith in the media and newspaper. As I tell most people I encounter “There are at least 2 sides to every story… but the truth lies somewhere in the middle”.
My wife just got news of here company scaling down with layoffs to come. My work has slowed being self employed do to people hanging on to their money. As far as MR goes, I do need about 20 more peices of flex track to finish laying the last run, but am going to hold off. We had to put a new furnace in this fall to. So I am using what stock I have and am doing some simple upgrades and fine tuning on my loco’s.
Been spending allot of time working on my MR and doing some work on my own house for once though.
How about you tell folks in Michigan that. Unemployment is over 10%, and that does not count the people that are underemployed or have run out of benefits. This recession is splotchy, as I suspect most are.
We are getting a little off topic here and but all have good points… “Splotchy” is probably a good term to use when describing the current economic state as different regions are affected differently… but let’s get this thread back on track…
Far a discounts, still the same at my LHS, but K-10 Models Trains in Maryville IL only sells at 20% over cost. I have helped with orders and have seen his cost.
Far as spending, way less. In 2007 I had a good year and was spending around $75.00 a week. In that time frame was when I started to buy my BLI and PCM Sound Steam fleet.
2008, beginning of the year was bad, then got a little better in the middle. With me having gotten a lot of what I wanted and with what I could spar, it dropped down to $25.00 a week.
Last quarter of 2008 is a Train Wreck for me. For the 2008 year I made $12,000.00 less than 2007, that hurt. Last quarter of 2008, if it stays at this level I would only make $19,500.00 for the year. That is $34,500.00 less than 2007.
In fact, the last 3 months I think I took back more un opned stuff for a refund than I bought.
Cuda Ken, can you spar a dime? [:(]
PS, last 2 weeks have been fine as far as income.
- Have model train retailers discounted prices because of the current economy?
Don’t know, this question is best directed to the retailers. Only they can give you first hand information.
- Are you spending less on model railroading becasue of the economy?
No, I am spending much more! The current economy has never been better. I am now able to afford many things that for years I couldn’t, and my “disposable” income has gone up over the last year by leaps and bounds. It is true I still work within a budget, but that budget is larger than in years past so accordingly my hobby spending has gone up.
- No, maybe just getting rid of old stock. 2. The same or more. It depends on what I need and how much money it will be. I will say in the last month I have probably spent $159 - $200. Thats alot for me.
I was “retired” by the s o b’s @ Home Despot last March, and since then have not changed my hobby spending. I only have 2 more Unemployment checks coming, so that will affect the budget somewhat. Biggest problem is we were planning to sell the house & move nearer the grandkids next summer - the housing market may have that screwed up - we’ll see come May or June!![%-)]
I haven’t noticed more than the usual discounts by the retailers.
My spending will be down this year, but not because of the economy. I have reached the point where I have pretty much all I need and then some. The result is that I am getting more selective about what I buy.
Enjoy
Paul
Haven’t noticed any blow out sales or killer deals. Prices seem to be about what they have been.
Train spending has been put on hold because I’m spending it on business equipment trying to get my own company started since unemployment here is around 15%.(probably 30% actual.) And THAT ain’t no blown up media story.[banghead] The only people with secure jobs around these parts work for the unemployment office.
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Factory Direct Trains has, but not the only LHS within 100 miles of me.
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No.
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Don’t really know.
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No. But then I am just getting back into the hobby so I am spending a lot right now to get started on my layout.
Mainetrains [banghead]
Hi!
Let me answer the second part first… I’m in the process of demo of my HO layout, and this will be followed with a rebuild and conversion to DCC. So far this year I’ve spent over $900, and expect to spend another $1000 more in the next 3-6 months. Ok, do not assume I’m wealthy, for almost all of the funds are sourced from Ebay sales this Christmas (mostly train stuff, but lots of other stuff too).
Regarding the first part of your question (“blow out” sales), I have yet to see one that offered what I wanted. You just don’t find staples like track or turnouts or Santa Fe stuff in these sales - and if one sneaks in, the price is not that big of a deal. So, for the “big stuff” I deal with Toy Train Heaven and recently Caboose Hobbies, and their prices are discounted just fine. They may not be the cheapest, but I know they have what they say, and are extremely reputable.
Let me add some regarding my annual Ebay train sales efforts this season (they are over, this is not advertising!). Out of 80 auctions, 74 sold. Frankly, the six that didn’t were worthy, but timing is everything. Anyway, a lot of the train auctions were for two car kits, or two built kits, some good deals on NIB locos, and the like that I had amassed over the last several years. Many of these were apparently bought as gifts, and I have reason to believe what an earlier poster wrote - that in “times like these”, folks tend to stay home and work on their hobbies. Also, unlike years before, I enjoyed few “bidding wars”. People tended to bid late and carefully and only the “rare” old kits went for a premium.
This time reminds me of the early / mid '70s, when I would get a few Athearn kits for Christmas or birthdays (I was married, father of 4). They were not a lot of money, but the enjoyment was pretty high.