Model Prices vs. Inflation

[SfanGoch]

A dirty water hot dog and a can of Yoo-hoo cost 40¢ in 1971. It costs around three bucks today. No extra charge for mustard, sauerkraut and onions.

[Tom Geiger]

Probably haven’t changed the water since then either!

Keep in mind I grew up on US Army posts. As a kid I’d get up Saturday morning for bowling league. Three games 10 cents each. I had my own ball and shoes.

Lunch was that dirty water dog on a steamed bun. 10 cents. Fountain Coke was a nickel.

Then we’d run across the lot to the movie theater. Kids noon show was a quarter. Popcorn was a dime (extra nickel for butter) and again a nickel coke.

The first regular show was after that. If we had been responsible, the guys would ignore that we were supposed to go outside and pay another quarter. But we’d get another popcorn and Coke.

That kept us busy until dinner time. Our parents knew where we were, so no issues. This was every Saturday.  If you were counting it cost a dollar!

 

 

Edited September 11, 2021 by Tom Geiger

[BlackSheep214]

Model prices vs inflation.... here’s the thing: the cost of everything, including model kits has been going up for years and years. So how is this any different? Sure, it’s fun to see how much kits cost back then but I don’t see how it’s a prices vs inflation issue. Some things do go up in value because of rarity, condition, and/or popularity of items. Coins, stamps, die cast Hot Wheels, toys, sports cards, antiques, classic cars/trucks, etc.. are good examples. Model kits are no different. Think about it, you never see a price guide on model kits anywhere. It doesn’t exist. So, how do these so-call “model kit experts” determine a price on a kit based on condition, rarity, or popularity of hard to find kits? 

 

[SfanGoch]

Throw a price out and see if somebody bites. Usually, someone does. I can't for the life of me understand why anyone would collect and pay outrageous sums for empty model kit boxes. Do these collectors open a safe and marvel at them the same was William Devane does with gold coins?

[Snake45]

1 hour ago, BlackSheep214 said:

So, how do these so-call “model kit experts” determine a price on a kit based on condition, rarity, or popularity of hard to find kits? 

That's not what this thread is about. This thread is about normal prices of commonly available "everyday" kits. 

[Can-Con]

8 hours ago, BlackSheep214 said:

Think about it, you never see a price guide on model kits anywhere. It doesn’t exist. So, how do these so-call “model kit experts” determine a price on a kit based on condition, rarity, or popularity of hard to find kits? 

 

Actually, yea, they've been printing them for decades. I had one back in the '80s.

I believe this is the latest issue

Edited September 12, 2021 by Can-Con

[Ace-Garageguy]

8 hours ago, BlackSheep214 said:

Model prices vs inflation.... here’s the thing: the cost of everything, including model kits has been going up for years and years. So how is this any different? 

That's the way I look at it. A gallon of gas could be had in 1971 for $.35 (that's 35 cents for the math-impaired). Or a beer. In a bar. 

Whatza gallon of gas today? $2.80- $3.50. Somewhere around ten times as much.

Howza bout a beer in a bar? Maybe $3.50 for the average stuff most people drink? Again about ten times as much.

So...if your earning power has kept pace with inflation, you're really not paying any more for anything (as in: if you were making $100 per week in '71 and make $1000 now).  

Edited September 12, 2021 by Ace-Garageguy

[BlackSheep214]

13 hours ago, Ace-Garageguy said:

That's the way I look at it. A gallon of gas could be had in 1971 for $.35 (that's 35 cents for the math-impaired). Or a beer. In a bar. 

Whatza gallon of gas today? $2.80- $3.50. Somewhere around ten times as much.

Howza bout a beer in a bar? Maybe $3.50 for the average stuff most people drink? Again about ten times as much.

So...if your earning power has kept pace with inflation, you're really not paying any more for anything (as in: if you were making $100 per week in '71 and make $1000 now).  

Bingo! That's my point. :))

[leafsprings]

13 hours ago, Ace-Garageguy said:

 

So...if your earning power has kept pace with inflation, you're really not paying any more for anything (as in: if you were making $100 per week in '71 and make $1000 now).  

Wow, in 2071, if the trend continues  you'll need to make about $10,000 a week to afford a $300 a piece kit.

[peteski]

1 hour ago, leafsprings said:

Wow, in 2071, if the trend continues  you'll need to make about $10,000 a week to afford a $300 a piece kit.

It is all just numbers.  That all.  Italian Lira has had such a low value that those poor Italians have been paying thousands of Lira for a loaf of bread, and millions for a car. 

As I understand, back when US$ was backed by gold, the value of currency actually had some meaning, but now it is just a number.

[Pete J.]

As many of you mentioned, inflation is not the only thing that affects the cost of kits.  Even if the molds are paid for and they have no art work cost, there are a lot of things that factor into the cost of a model.  First in my mind would be run size.  With fewer of us building, repops are sold in much smaller batches than back in the 70's when every kid on the block wanted the latest kit.  That means the companies fixed cost(rent, storage, maintenance, etc) per model represents a larger part of the kit than it do 50 years ago.

  Labor cost have far outstipped inflation in these types of job.  You have to pay the skilled person who runs the molding machine much more. Since this is probably not new equipment, the person who can repair it and do maintained probably costs a heck of a lot more.  Also, molds are not indestructible!  I remember 10 years ago getting into a discussion with another modeler about why modelers are willing to pay more for an old kit.  The general opinion was that old kits did not suffer from the wear and tear of a mold being used and thus the lines were cleaner, there was less flash and the fit was much better.  

Also consider that the model manufacturer throws the dice with every kit they produce.  They are never assured that they will sell out the entire run.  They may wind up paying for storage for unsold kits, not to mention tying up their capital  in unsold kits.  Kit manufactures run on notoriously small margins.  Witness the demise of several large kit manufactures over time.  There are far fewer makers, but they are competing in a much smaller market then they use to have. 

  When they price a kit, they take all this into account.  They are a business and if they don't make a reasonable profit then we will have no kits.  Complaining about the cost of kits does no one any good.  The kits are priced to make a reasonable profit.  If you think they cost too much, then pass on it, but complaining that companies are price gouging makes no sense and shows the limited understanding of what companies have to do to put product on the shelf. 

[Pete J.]

15 minutes ago, peteski said:

It is all just numbers.  That all.  Italian Lira has had such a low value that those poor Italians have been paying thousands of Lira for a loaf of bread, and millions for a car. 

As I understand, back when US$ was backed by gold, the value of currency actually had some meaning, but now it is just a number.

Pete spot on.  1971 was when they got rid of federal reserve notes or as they were know silver certificates.  You think the U.S. dollar has little or no value, Crypto currancy just boggles my mind!  At least with the dollar, the government backs it.  Crypto doesn't even have that! 

Edited September 12, 2021 by Pete J.

[Lunajammer]

On 9/11/2021 at 10:06 PM, Ace-Garageguy said:

Whatza gallon of gas today? $2.80- $3.50. Somewhere around ten times as much.

Howza bout a beer in a bar? Maybe $3.50 for the average stuff most people drink? Again about ten times as much.

That's always been my crude measure as well... the idea that, generally speaking, the cost of living is ten times more now than 50-years ago. It sort of works across the board, with many exceptions of course.

I started building 1/25 scale cars in the early 70's and I recall the prices being about $2.25 a kit. We're a little higher than ten times that right now, but the market is a lot different too, per points already made above.

[Snake45]

One thing that's getting cheaper is electronics. 

I've owned three computers now. Each one cost less than its predecessor and is much faster and has MUCH greater capabilities than the one before.  

In 1979 I bought a 19" color TV for $329, cheapest I could find. VHF/UHF, no remote, no frills. Last month at Walmart I bought, for about half that (in inflated dollars, remember), a 19" flat-screen color TV with remote and a mind-blowing array of features I'll never use. 

[Tom Geiger]

I was thinking about this thread the other day as I was putting stamps on envelopes!  Each stamp shown here would carry a first class letter anywhere in the USA back in it's day!   Today the 7 of them equal the current 58 Cent postage rate!   It would take 14 4 cent stamps, which is more than would even fit on an envelope! (all US stamps are still valid for postage)

The postage rate in 1962 was 4 cents.  So if I invested $100 in stamps back in 1962, I would've gotten 50 sheets of 50 stamps.   This investment wouldn't have faired well at all.  Way too many people saved huge amounts of stamps. I currently buy $100 worth of mint stamps from a dealer I know for $50  or 50% of face value!   So that $100 investment is worth HALF!

If I had invested that same $100 in 1962 Revell annuals, at $2 each, I would've bought 50 kits.  Each one of those kits, mint in the box, would sell for $100-150 each!   So settling at $125 a kit average, I'd have $6,250 today.  Can't complain about that investment at all!   So quit your complaining!   ?

 

 

Edited September 13, 2021 by Tom Geiger

[Snake45]

Tom, a few years ago my folks started getting Christmas cards from an old friend with very old stamps on them. Turns out the story was, her husband died, and she took his stamp collection to a collector to cash out. He told her the collection had "nothing special" in it and he'd only give her face value for the whole thing. She said the hell with that, it would be a lot more fun to just USE the things. And from then on, she did! 

[keyser]

Tom, we all know you’d have parted them out to some extent. Lol. 

[1972coronet]

On 9/10/2021 at 10:08 AM, SfanGoch said:

A dirty water hot dog and a can of Yoo-hoo cost 40¢ in 1971. It costs around three bucks today. No extra charge for mustard, sauerkraut and onions.

Just make sure that 'Popeye' Doyle isn't across the street dressed as Santa Claus , and that the hot dog vendor isn't 'Cloudy' Russo .

[SfanGoch]

Nah, dat's Bensonhoist. I'm a Greenpernt guy. We got our dirty water dogs from Jimmy. He staked out a spot on the corner of Graham and Meeker Avenues under the Brooklyn-Queens Expressway and was a fixture at that same corner for almost 60 years.  His hot dogs tasted better than any other dogs because he used beer to cook them. You don't find guys like Jimmy anymore.

Jimmy and his wife, 1998.

The only hot dogs worthy enough to be sold in dirty water dog carts are Sabrett. Accept no substitutes.

[peteski]

Ah, the "better days".  What does  the corner of Graham and Meeker Avenues looks like today?  Hangout for bunch of strangely dressed Millennials with their hand glued to their smart phones?

[SfanGoch]

Surprisingly, it hasn't changed.

 

Unfortunately, the same can't said for the stretch of Meeker Ave. under the BQE just three blocks east of this intersection, which would be to the left of this picture. It's been turned into a giant homeless base camp and shooting gallery for hipster junkies.

[Mark]

On 9/13/2021 at 1:45 PM, Snake45 said:

Tom, a few years ago my folks started getting Christmas cards from an old friend with very old stamps on them. Turns out the story was, her husband died, and she took his stamp collection to a collector to cash out. He told her the collection had "nothing special" in it and he'd only give her face value for the whole thing. She said the hell with that, it would be a lot more fun to just USE the things. And from then on, she did! 

My previous employer received a couple hundred dollars worth of late Fifties and early Sixties stamps as part of a donation.  I spent a few hours of down time sorting them and putting them on the window envelopes we were using to send out bill payments.  Those pre-stamped envelopes lasted a couple of months.

[1972coronet]

4 hours ago, SfanGoch said:

[ Jimmy's ]  hot dogs tasted better than any other dogs because he used beer to cook them. You don't find guys like Jimmy anymore.

That's the only way to fly !  I was fortunate enough to have enjoyed not only an authentic NYC cart dog , but also legit pizza slices when I visited NYC in summer 1989 . 

[1972coronet]

4 hours ago, SfanGoch said:

Unfortunately, the same can't said for the stretch of Meeker Ave. under the BQE just three blocks east of this intersection, which would be to the left of this picture. It's been turned into a giant homeless base camp and shooting gallery for hipster junkies.

Sounds like 'San Francisco-East' . Hipster junkies and homeless camps , indeed . You should see Downtown L.A. these days -- every overpass of the Harbor Freeway is a block-long tent city .

[Reegs]

If it ain't a Sabretts it ain't a dirty water frank.

A friend called the vendor "The Nasty Man" because he spends all day at his stand - where does he pee?