Huge Minelab Price Increase - And Gold Monster To Come With One Coil?

[phrunt]

50 minutes ago, araratgold said:

That's great for you guys in the US.

Here in OZ, we get NO military discount from Minelab, which is a bloody OZ company ! Talk about getting "shafted" ! ?

Imagine the uproar if a US company was giving veterans discount to Australians, but not Americans ?

It is a real kick in the boulders.    I don't know why they do that, I guess the mighty dollar always comes first and foremost.

Anyway, it's looking like the price hikes might possibly be world-wide, they're getting them in Canada.

 

[Valens Legacy]

1 hour ago, araratgold said:

That's great for you guys in the US.

Here in OZ, we get NO military discount from Minelab, which is a bloody OZ company ! Talk about getting "shafted" ! ?

I'm sorry about that as I did not know that, it is unfair to you and Minelab should correct that asap.

During WW11 so many of your family members fought and died for their freedom just as ours did.

[fi4451]

Price hikes are frustrating to the consumer...but let's face it...a couple years of 7 to 10 percent inflation- this is bound to happen.  There could be a little greed mixed into the equation, but I believe it's more a product of inflation.  Whether it is cars or food, basically everything is getting more expensive.  Obviously I'd love to see the gpx 6000 selling at 4,000 dollars but how could I really expect that in this economy?  There is a new bar that has been set....it's higher for almost everything.  This was bound to happen...I don't like...but I get it.

[phrunt]

inflation is exasperated by businesses profiteering off it, using it as an excuse to put up prices far beyond their cost increases, and it's worse in some countries than others, Minelab fortunately for them sell a bulk of their products to countries outside of Africa with high inflation while producing their products in a country with low inflation.    This isn't an inflationary rise in pricing, it's opportunistic. 

[dig4gold]

Be interesting to see how these price rises pan out for Minelab with gold getting harder to find by the day & gold found getting smaller & way smaller in weight.

D4G

[Lynk]

The company is welcome to try increasing price on old tech in a weak market. Either the market accepts the increases or it doesn't.  Codan's sales will bear it out. 

Its 2023 segment margins were weak, but that's not a surprise. Codan had the post covid demand boost and its margins followed. 

For the three years pre-2020 margins were an average of 39%.  Simple math says the company needs a 12% increase in revenue with no change in cost to have a 39% margin again. 

The pricing strategy does not make sense to me, but if it doesn't work they will quickly be running "specials" to get buyers but keep us anchored to a higher MSRP. 

 

[Gerry in Idaho]

I don't think the US market will go up as it's already inflated over other countries.  

Interesting to see how this plays out. 

[Steve Herschbach]

On 12/8/2023 at 2:49 PM, Gerry in Idaho said:

I don't think the US market will go up as it's already inflated over other countries.  

Interesting to see how this plays out. 

We generally pay far less for Minelabs than anyone else. But you should know. If a price increase was coming Jan 1st dealers should already be in the know.

[D&P-OR]

1 hour ago, Steve Herschbach said:

We generally pay far less for Minelabs than anyone else. But you should know. If a price increase was coming Jan 1st dealers should already be in the know.

I heard (from a dealer) that the only price for a detector in the U.S that wasn't going up is the CTX.-----I guess we will know for sure 1/3/'24.