Seconds & used sale - a perspective

[ZMW]

The online sale was a really cool way to get involved from out of town. I am sure the in person seconds sale is the real deal, but with a busy job and family it’s a trip I just can’t make. I love the spydies I grabbed and hope Sal and team can do it again

[Ric]

@GaryArt1
This year it was an online event beginning of Dec.

[Mushroom]

We also do a seconds sale for "Save and Serve" professionals. (Law enforcement, military, fire fighters, first responders, etc).

sal

Oh wow. I never heard of this seconds sale. Does anyone know when this generally takes place?

In the past, the OpFocus seconds sale has taken place in early May. Of course, in person at SFO. :spyder:

[GaryArt1]

In the past, the OpFocus seconds sale has taken place in early May. Of course, in person at SFO. :spyder:

Thanks, I look forward to attending one year.

[Smalltimeedc]

FYI, We began the seconds sale in the early 80's, in front of our store in Golden. It was our way of supporting the comminity and giving some an opportunity to try some of our sharpening products. As time went on, the sale grew. We eventually added knives and little by little over the next 30+ years, it became what is is today.

Pricing is generally lower than our cost, so we lose money on every sale. It's good for cash flow, but not worth doing to make profit.

We're proud of the crew for having pulled this off. It really was a monumental task, especially with such short notice. We thought we could do it in person until the rules changed. We got special permission from all involved. Kudos to Kelly, Kristi, Chappy and everyone else involved in doing this. They all really worked their butts off to being you this.

Will we do it again if there is no COVID? I don't know. We let the staff make the decision, which we'll do again. The In-Person sale is much more than just a sale. People camp out on our lawn, some for days. Ed Schempp flew in from Washington and cooked BBQ for the gang, signed knives and communicated with the attendees. We put out portolets.

We also do a seconds sale for "Save and Serve" professionals. (Law enforcement, military, fire fighters, first responders, etc).

sal

I am new to knife collecting, and after buying my first spyderco I honestly have no taste for any other stuff. I am a father and work in production so money is very limited at times, but this sale made it possible for me to add maxamet to my collection! I am eternally grateful for everything you all did to make this happen! I do hope to get Sal and Eric's autograph sometime soon to frame and hang up! Honestly just love all that you do and can't wait to see what the future holds!

[curlyhairedboy]

The Spyderco Crew handled this far better than anyone could have reasonably expected, given the volume and interest and short time period. Definitely a very heavy lift!

This was the first seconds sale I was able to participate in, thanks to it being online. I'd love the chance to participate again, but I'll leave that decision up to the crew.

[yablanowitz]

However, as a CPA I must point out that your second paragraph is wrong. Spoilage is part of the cost of every retail knife you sell. The spoiled knives are sitting there, unable to be sold through normal channels. Rather than have them destroyed you sell them as seconds at good prices, for which I am very grateful. You could put them on ebay and make more money. But selling them does not create a loss. Sales price on seconds minus all the hours to prep, sell and ship plus shipping materials, gifts and some freight is a profit. Most non-accountants use the term "cost" incorrectly. I write this because you are at pains to be accurate in all your statements.

Garage sale mentality. I never knew where it came from until now. Sell a bunch of stuff for less than you paid and call it profit because you got rid of it and have money to show for it. I'll never be a CPA, since I don't see how paying $50 for an item and selling it for $30 results in a profit. Freeing up capital and reducing losses I understand, but not how a net loss on each item adds up to a net profit.

[sal]

Hi Smalltimeedc,

Welcome to our forum and thanx for the kind words.

Hey Jack,

We don't count in "spoilage" on the cost of our knives when pricing and the word "profit" I think is that amount above our cost. So, yes, the added cash flow was nice, especially now, but it takes "accountant-speak" to find profit.

sal

[Chppy]

thank you sal you are the man ! P.S. i love your design for the lil temperance 3 its got the most perfect balance point where the cutting power is i love it you are a master