(Topic ID: 287178)

GnR price increased by $1k?!?

By pinpin8990

3 years ago


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  • Latest reply 2 years ago by screaminr
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    15
    #1030 3 years ago
    Quoted from chooch:

    I love how people justify the price increase because of the pandemic. Wouldn't that mean prices will drop $1000 when it's over? Quit making excuses for them and call a spade a spade. They know they got a hot title on their hand and want to cash in.

    My prediction is a big shift in spending on home entertainment items like pinball machines come late summer/fall timeframe. People are going to shift spending to travel and hobbies outside the home as Covid is brought under control.. As a result, my prediction is new pinball sales will return to prepandemic levels rapidly.

    These price increases are going to alienate some NIB buyers and I am not convinced this crazy rise in prices is sustainable or will even stick. Stern & JJP are going to back themselves into a corner, lose some fed up customers, and have to go to a rebate system in the future IMO. I could be wrong but their greed may come back to bite them in the ass.

    #1031 3 years ago
    Quoted from PanzerFreak:

    Next thing we know JJP is offering a $15k signature edition with a piece of a couch Slash sat on at JJP during his visit

    They'll only get that if he shart on that couch.

    #1038 3 years ago
    Quoted from Zablon:

    We've been saying this for a few years. I agree it is crazy...but while the prices might have got a boost due to COVID...they were already headed that way before then. I doubt they are going to go down any time soon. We are just in prime nostalgia people with money timeframe. Sure, there may be a few less, but you might have more operators buying at that point to make up for it.

    So you think people will continue to buy NIB games with all this pinflation and huge price increases? I disagree that pricing and demand for NIB pinballs is inelastic.

    When Covid ends, I see demand leveling to lose to prepandemic levels. Time will tell but many NIB buyers are just about priced out of the market ... to say nothing of operators who may not resume purchases post Covid. How can they make money with NIB pricing at these levels?

    #1039 3 years ago
    Quoted from Nevus:

    Zero interest in Toy Story, but I don’t speak for the masses and rarely follow the crowd.

    Ditto

    #1048 3 years ago
    Quoted from Zablon:

    You keep acting like these prices suddenly went up with covid. They didn't. What DID happen is manufacturing and part prices went up. At this point it is still too early to be saying they are going to be going down any time soon - if they go down at all. I think the point is, people have been saying pinball prices are unsustainable for years, and year after year we are proven wrong. It may be YOUR limit, but there are 1000's of others who's it isn't. I agree at some point we'll reach a saturation, but travelling had little impact on game prices before covid or during covid. Pinball was hot the entire time and prices have been reflecting that. So I guess to answer your question, yes, I do think people will continue to buy NiB at these prices...in droves.
    People are overthinking the price increase on GnR. Remember PoTC and how they were losing money on it? GnR is probably the same way - only this time they can't keep up with demand. They realize they aren't making enough on it to meet profit margins with the increased part/manu costs, and raised the price to meet it.

    Parts and supply chain issues will normalize as Covid gets under control globally. It is one thing to raise prices $100-$200 to offset part and other manufacturing increases. It is another to raise them $500-$1000 over night. That isnt about manufacturing cost increases, it is about milking current demand and a level of price gouging.

    Of course price increases aren't new but year over year increases at the levels we have seen the last 2-3 are. Sure there are a subset of buyers that don't care and will pay whatever they ask but the majority including operators will hit a point where they won't buy.

    We'll agree to disagree. I am of the opinion these huge price increases are due to increased demand, largely driven by Covid and people having to stay at home for a year now.

    The pent up economic demand is for travel and pursuits anywhere but home when this ends. That will affect demand for home improvement projects and home entertainment items like pinball machines. Will be interesting but I do think we will turn Covid into a manageable and mild illness for most via mass vaccination within the next 6-8 months.

    #1049 3 years ago
    Quoted from RC_like_the_cola:

    The big question is: Is this price increase just for this title? Or are we looking at 7750/10500/13500 for Toy Story? I was really pumped for a sub 7K standard model JJP and was hoping Toy Story SE was gonna be a good looking game. I'm out at 7750.

    JJP and Stern are testing how high they can go. If people keep buying, you can take it to the bank this will be their new pricing structure going forward.

    The best thing that could happen is people stop buying and demand plummets. I think that may happen over time but probably not until Covid is waning and people are frequenting sporting events, restaurants movie theatres, and traveling again.

    11
    #1107 3 years ago
    Quoted from playernumber4:

    This will be the new pricing structure and prices will not drop. They never have. And usually when JJP raises their price by $1000 Stern raises theirs by 500-1000 and cheapens up the next game with less toys or quality issues from using cheaper materials. We have always said we will not buy at the new price, that the company will lose all their customers etc. and it has never happened yet. JJP will limit production on the game and come back with another edition a year later with a price tag even $1000 higher. Remember the yellow brick road and ruby red slipper editions of WOZ, and the black arrow editions of Hobbit etc? The prices only went up and stayed up.
    There will be no sympathy from JJP or Stern. And rebates have never happened and its doubtful they ever will.

    Demand for these NIB games is not inelastic. There is a limit and they are just about there.

    I know if Stern tries to raise prices another $500-1000k, I'm out. I have already written off any JJP games since my miserable experience with a WOZ and never ending light board issues a few years back (I know too many other JJP owners with maintenance and/or playfield issues to want to go down that road again).

    I could still afford to buy at a higher price but because I recognize the pricing has exceeded their real value (at least to me), I won't buy NIB going forward at these prices. Many others including operators will be priced out. As the economy shifts to away from home entertainment, many of these overpriced games will sit unsold.

    We'll agree to disagree I guess. People and these companies seem to think Covid is going to last forever. It won't and people, including me, are going to start spending their money on fun away from the home. Don't shoot the messenger.

    #1112 3 years ago
    Quoted from Methos:

    Honestly, you're just guessing. I would think that JJP and Stern know what the market will bear based on sales, pre orders, distributor feedback, and other means.

    Actually, they don't. They are testing it. So far, they've gotten away with it but Covid will be winding down mid summer. Come fall/winter, I think we're going to see a shift in discretionary income going away from home improvement and entertainment including NIB pins.

    Sure, there were always be the group of ultra wealthy collectors that will pay whatever they ask but the operators and rest of us will just say no mas and spend our money elsewhere.

    Time will tell but I think JJP & Stern are testing what they can get away with and milking Covid demand. If the market shifts like I predict, they may have to lower prices or go to a rebate structure to keep factories going at full capacity.

    #1115 3 years ago
    Quoted from Methos:

    How do you know this?

    Do you think Stern & JJP know what they can continue to charge for these games over the next 6-24 months? They are milking heightened Covid demand right now due to everyone being at home and bored.

    I think it is pretty obvious they are testing what the market will bear with these increases. I'm already seeing several distributors advertising GNR's for which they now have inventory, though. I don't think that was the case before the huge price hike.

    I may be wrong but I just think the Covid induced spike in demand for home entertainment and improvement is not going to last that much longer. People are sick of being at home and want entertainment and travel away. This undoubtedly will reduce some of the big spending/demand for NIB pins as well. Time will tell.

    #1117 3 years ago
    Quoted from Dr-pin:

    If anybody is even contemplating jjp overpricing. They should have a look into the spare part situation.
    I just ordered a worg head to a hobbit game. It's an uggly one inch plastic bit, that couldnt possibly cost more then 70cent to make.
    Cost?
    80$ shipped.
    I shit you not. Totally beyond insanely overpriced.

    Yeah, I've been trying to get my distributor to get me pricing on a right ramp for my Iron Man for two weeks now. Have also been asking them to get me their pricing on a Raw Thrills Big Buck Reloaded for over 3 weeks. I guess they are too busy to be bothered getting back to me on either request despite several follow up emails.

    Only in the is business can manufacturers and distributors give this poor of customer service and still sell stuff. I have to admit I'm starting to reevaluate the money I'm spending in this hobby given the greed and poor customer service I'm getting in return.

    #1128 3 years ago
    Quoted from screaminr:

    I totally get the 1k price increase might price some people out .
    But to the people who knew about it for months and say they could still afford it , but won't buy it principal well ...
    You're missing out on one of the best games ever , and once they sell out , and they will , it will go up by much more than 1,000 bucks

    So demand and pricing is inelastic? Time will tell. I'm out on this one.

    #1135 3 years ago
    Quoted from Methos:

    Look, I agree with you that this is unfortunate. I was in on a Elvira until Stern raised the prices. But they are all businesses trying to survive and increase EBITDA. Can't fault them for that and if they raise prices, they must know the market is still there. For any of us to make factual statements as you did on the market, unless we have data to back it, is just disingenuous.

    What I'm saying is they are testing how far they can go before people won't pay anymore. I think that is obvious at this point.

    A $500-$1000 per game increase isn't about raising costs due to wood and parts cost increases. I would buy that if they'd taken a smaller, $100-$300 increase. This is about milking demand and searching for how high they can go before it affects sales.

    I'm a capitalist and don't blame any business for trying to optimize profits. I do believe, however, that in a niched, hobby type business where the customer base tends to be smaller and sales rely on that base for reoccurring sales, you need to find a balance between profits and not alienating your customer base.

    In my opinion, this overnight, huge price increase demonstrates some poor planning. If you knew you had an a great license and made a great game, set your pricing higher out of the gate... and if you're going to take a price increase under the auspice of higher material and manufacturing costs being passed on to the customer, don't raise it 1k over night. That just looks like a greedy cash grab and pisses customers off.

    At least they honored original pricing for those with deposits down, though. Stern can't say that with what they did with Elvira.

    #1178 3 years ago
    Quoted from Knxwledge:

    How much of that complaining translates to lost sales? I would wager not much

    I think it will. If not in the short term, 3-6 months from now.

    #1187 3 years ago
    Quoted from 27dnast:

    Why does everyone behave as if these companies should all sit on their hind quarters and “take one for the team” so wealthy pinball collectors can buy on the cheap?
    It’s not like these games cost $1800 NIB a few months ago and JJP jacked the price up to $10.5k. And it’s not like these machines are akin to a wonder drug that will save millions from dying, and JJP is turning their back on the poor and selling it for $2,000 a week.
    We’re talking about a coin operated amusement device that already cost north of $9,000. Nine Grand - Plus, folks. Unless you’re a person that’s going into debt over buying one of these (which any reasonable person would say is a bad idea), then you’re talking about something that’s insanely expensive and completely unnecessary.
    Next time you’re with non-pinball friends, trying telling them how you’ve been so wronged because a pinball machine that you were going to pay $9.5k for (plus tax and shipping) was increased to $10.5k.
    Guaranteed that most everyone will look at you like your crazy and detached, and no one will join the chorus of what a travesty it is.
    Like it or not, JJP is a business that needs to make money to stay in business. And right now, they are selling a very desirable item that is going to make them money. Much like an automobile manufacturer, they can and will raise prices when they see fit. Car manufacturers do this all of the time... There’s no government mandated day where prices can only be increased. They’ll do it when it best suits their business.
    If there comes a time to when demand falls, they will adjust.
    It’s just the way it is.
    I’ve been in the hobby long enough to see a lot of these price increases. Up until 2020, I always thought “this is it. We’ve reached the ceiling.” But guess what? That ceiling gets shattered every time. And there’s always a chorus of angry people, and most say “I’ll never buy again... unless they make my dream theme.”
    I don’t like these increases. Of course, no customer is thrilled about the prospects of paying more. But I think I’ve come to terms with them. And I don’t think we’ve seen the ceiling, because I’ve thought we’ve hit the ceiling every few months for the last 6 years. I thought the pandemic would crush these companies... not only have they survived, but they are stronger than ever.
    At the end of the day, we should all be thankful that a manufacturer like JJP is still selling games. If you can’t afford one or if you think it costs more than it’s value, then DON’T BUY IT. Wait. Play it at shows and enjoy it at locations. Or wait for the used market. But this whole “they’ve wronged us, those bastards” schtick is out of bounds. JJP owes its customers (people who have actually paid money for NIB games) great customer service and game support. From my experience, they’ve done that. But they definitely aren’t some charity that needs to scrape by while rich clients bitch about cash on a nonessential luxury item.

    So you think JJP was losing money and "taking one for the team" with their original price structure from a few months back? You are saying a 1k increase overnight is just a typical business as usual price increase that everyone should just shrug off and not discuss?

    This discussion is about how much longer the average buyer is willing to take these increases before enough say no more and a glut of unsold pins forms. Many of us are contending we are already or almost there which I contend will become apparent as we emerge from Covid and consumer spending shifts. If that happens, is it good for JJP's business and bottom line?

    These companies can charge whatever the hell they want. No one is debating that. Doesn't mean we'll continue to buy, though.

    #1198 3 years ago
    Quoted from Hayfarmer:

    We all complain about the price increases , but are any of us lowering the prices on the pins we sell? Market will always set the price

    Agreed. I just think the market is going to level off and some of the inventories of these pins will increase as we emerge Covid. Admittedly, I may be wrong.

    #1200 3 years ago
    Quoted from 27dnast:

    You can discuss whatever you want. That's part of the hobby and something that keeps things interesting. But this notion that JJP has somehow wronged anyone is ridiculous. They haven't hurt anyone one.
    As for this "average buyer," who exactly is that? Do you have hard and fast data on what best describes a buyer that's will to spend $7K... $8k... $10K... on a pinball machine? I don't.
    Prices are jacked up EVERYWHERE. Look at the used market. Pricing has radically changed just in the last 10 months. Maybe JJP figured out their market pricing structure then, and is changing to meet the market now!
    As far as I can tell, a company like Stern will announce a $1K topper. I laugh and think "Who would pay that???"... next thing you know, it's sold out.
    I get the fact that you are out on buying a $10K game. I actually applaud you for drawing the line. It's a responsible thing to do. But that doesn't mean JJP needs to adjust its pricing. You have not seen the last of "higher than you ever thought possible" prices. And, hopefully, someday prices may fall some to open the door to more buyers. Who knows?
    Don't forget what happened with WOZ. That nearly killed JJP... they were WAY under priced. Would have been a real shame for them to have gone under... look at all of the amazing games we never would have experienced!

    If I'm honest, I swore off ever owning a JJP game again after owning a WOZ for a year and dealing with non stop led board and mechanical issues. I've stuck to that and don't plan on buying another anytime soon.

    With that said, I hope they remain afloat as it is good for the hobby. This niched industry needs more, not less competition.

    #1246 3 years ago
    Quoted from Darth_Chris:

    We all share that sentiment but when stern, to name a company, increase prices they don't go down after. Next pin will have that same increase if not another one.
    JJP hit a homerun with GNR, there you go, but before that I did not feel at all the idea of owning a JJP. Theme selection did not help me one bit.
    So let's say their next title is not a homerun.......do you think people will line up to give deposits 6 months before at $10500 ?
    When you make a price increase move, as a business, you cannot ajust the price before each release and if you were wrong ajust it back higher or lower depending of hype reaction.
    It sends confusion and non transparency and in the long run you might put yourself out of business.
    Don't get me wrong I want JJP to be able to deliver dream themes to people. In a way maybe it's my understanding that was wrong since the beginning. JJP might be competing with itself and not other companies.
    Just a thought

    Which is exactly why I question such a big increase overnight like this. Seems to me they are now locked into this price structure for future releases as well regardless of demand.

    I think for many titles, a rebate system is in the future in the pinball industry when demand normalizes. Prices are high and if demand plummets or normalizes for high ticket home entertainment like pinball machines post Covid, they are going to have to figure out a way to move some inventory without losing face. Manufacturers in other industries use rebates all the time. It wouldn't surprise me rather than walking prices back, they will will have to use rebates instead.

    #1437 3 years ago
    Quoted from Jaybird815:

    Caligula would be jealous of Gary’s office, I’m guessing.

    So Gary holds daily orgies in his office? Who'd have guessed

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