Why did tool cabinets get so expensive?

[BillD]

I went looking for a little bit more storage and was very surprised how much more expensive things got. Way beyond the normal inflation.

I bought a popular at the time 26" wide top and bottom combo at Harbor Freight for $270 on 04/14/2011. That would be $358 in today's dollars.
It was a small sale, regular price was $280 or $290.

$230 = https://www.harborfreight.com/26-in-single-bank-top-chest-black-64428.html
$360 = https://www.harborfreight.com/26-in-x-22-in-single-bank-roller-cabinet-black-64432.html

Today exactly the same thing sell for $590 together. That's 65% higher than the inflation adjusted figure.

Then in July of 2017 I bought a 26" wide Husky top from Home Depot. 3 full width drawers, 6 half width, in glossy black.
It was $50. That's $69 adjusted for inflation. (https://www.utahsweetsavings.com/husky-26-9drawer-tool-chest-49-regularly-99/)

A similar Husky box, but with less drawers is on sale for $149 right now. $200 regular price. So it's 216% more after inflation.

Even if we take the old non sale price of $100, inflation adjust to to $122, and compare to today's $200 non sale price, that's 64% higher, and a lesser product.

Any ideas why these huge jumps? Steel more expensive? Shipping?

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[K13]

Steel got way more expensive. Shipping costs went through the roof. It used to cost about $3500 to ship a container from China to North America at its peak earlier this year it was $35,000. So say you could get 200 boxes in a container you would have to increase the price almost $160 just to cover the shipping increase from China before any other increases even come into play.

 

[Jakemedic]

The cost of fuel and other associated trucking costs greatly impact cost as well. For example, my dog food went from 30.00 for 40# to a current price of 40.00 for a 30# bag. Companies are not going to absorb the additional costs, they are going to simply pass it on to the consumer. It still ***** though.

 

[BillD]

went from 30.00 for 40# to a current price of 40.00 for a 30# bag

That's a 78% increase if my math is right.

 

[m6z]

Inflation isn't linear.

Like others have said, steel prices and freight prices are way up from when you previously purchased your cabinet.

Some thing have double in price in a short amount of time.

 

[dogdog]

T
A
R
I
F
F

also.
shipping cost, material cost, labor cost.

 

[Bad Habit]

I also think once the genie was let out of the bag, they all took advantage. Once manufacturers could raise prices, they over did it because they could blame "inflation" and a whole plethora of other ills.

 

[K'ledgeBldr]

…and that other-

GREED!
Greed, for lack of a better word, is good. — Gordon Gekko

 

[finn]

At least one toolbox manufacturer, International, went out of business, and a couple more, Waterloo, and (maybe) Lista , were snapped up and merged into larger corporations.

Then there were tariffs added about five years ago, which caused some market interruptions and product design modifications (to get around the tariffs).

All of these things, coupled with steel price increases and shipping cost increases, contributed to the increased retail prices we see now.

 

[86turbodsl]

If you think HF prices went up... go look at a Snapon box.

 

[IRQVET]

Inflation is killer, greed doesn’t help, and everything will continue to be more expensive if you keep printing money to pay for debt. The production numbers of the GDP and our debt ceiling being so close is a scary thing right now; a REALLY scary thing.

 

[BillD]

I also think once the genie was let out of the bag, they all took advantage. Once manufacturers could raise prices, they over did it because they could blame "inflation" and a whole plethora of other ills.

Profit margins didn't go up though. Which would have gone up if companies were really just raising prices for no reason.

 

[Black300zx]

Any ideas why these huge jumps? Steel more expensive? Shipping?

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HF boxes saw a pretty big price hike after the tariffs on china steel were imposed (2018 I think?). In Nov 2019 (post-tariffs) I bought my USG 44 for $425 on sale ($500 normal). Pre-Tariff I believe they were about $100 cheaper

 

[Zeke]

The simple answer is don't buy anything. I can tell you that things languish on CL and local sites for weeks. Yes, people are very unrealistic about prices and complain about 'low ballers'. But if they really want to sell something, they will sell it for a good discount to a polite buyer. That or they didn't really want to sell it, they are fishing.

 

[KenC]

Harbor Freight boxes went up a few years back due to a new import rule. Forced a change in size (depth). I forget who was driving that rule change but I'd bet on USA makers. My older HF boxes are 2" shallower than the current. So the quantity that fit a container went down adding to shipping cost, the amount of steel needed to make one went up and the factory had to install new processes and/or machinery for manufacturing them. All for no good reason IMO, as mine work fine.

Not all the reason of course but the first big step of the trip to the current price.

 

[milkovich]

Tariffs (25% I think), shipping (containers were up to $20k), and steel. It's starting to come back down slowly. Home Depot and Harbor Freight seem like they're in a tool storage price war right now. They're really going at it, I bet they're barely making anything on the Husky Standard Duty and Yukon.

 

[evildky]

The tariffs caused a lot of HF items to see substantial increases, just as the ICON line was introduced. Combined wiht our now devalued dollar.

 

[Etchase]

Craftsman box prices have come down in the last year at Lowe’s about 10%. Shipping costs are down the last few months. Steel is less then $0.30 a pound, so it can affect the price of a box a little. The dollar is very, very high at the moment.

 

[Blueshound_GJ]

The tariffs caused a lot of HF items to see substantial increases, just as the ICON line was introduced. Combined wiht our now devalued dollar.

The 2018 China tariffs, definitely. But the dollar is very strong against the yuan.

 

[Bucko]

I also think once the genie was let out of the bag, they all took advantage. Once manufacturers could raise prices, they over did it because they could blame "inflation" and a whole plethora of other ills.

My thoughts exactly, once people stop buying all the stuff the prices will come down. It won't come back to what we were use to pre-covid but it will drop.

 

[yellowbox]

Harbor freight thinks all their tools and boxes warrant the higher prices
Nope they ain't worth it , **** em

 

[nadogail]

Prices went it up because of various increased costs and the desire for profits.

 

[BearsFan315]

lol, what has NOT gone up in price >>
some more than others

gotta pay to play or just walk away

 

[dogdog]

Just drove 200 miles and this is what I saw and reminded me of this thread. We are on a vicious cycle of self destruction.

 

[dogdog]

My thoughts exactly, once people stop buying all the stuff the prices will come down. It won't come back to what we were use to pre-covid but it will drop.

Not sure if supply and demand is the only factor of price hikes. Probably in one of the deleted threads, will you willing to take a pay cut? Will those ceos willing to not take millions in bonus. Governments cut some tax? Offer less non essential services. Etc not going to list all…. But those… plus stop giving free money out to everyone other than me. Right?

 

[Blueshound_GJ]

Just drove 200 miles and this is what I saw and reminded me of this thread. We are on a vicious cycle of self destruction.

I live in CT and support this. Imagine you live on a corner lot, and all your neighbors cut through your driveway to save money. That's basically what NY and MA do with our state. Wish we could have got tolls on the interstates to help pay for road maintenance . Maybe someday.

 

[dogdog]

I live in CT and support this. Imagine you live on a corner lot, and all your neighbors cut through your driveway to save money. That's basically what NY and MA do with our state. Wish we could have got tolls on the interstates to help pay for road maintenance . Maybe someday.

I am not discussing why this tax and fees. Even if I don’t agree with you. Highway is a funny thing.

But stating things like this will never make prices go down anywhere in the globe, this is of the many factors. Will gov employees willing to go take a pay cut for the country?

 

[joel_400]

I've bought four new toolboxes in my life. Two service carts. First box was a Remline. Still in my home garage. Decent box I bought near 20 years ago. At the time it was better quality and several hundred cheaper than a comparable Craftsman. Also had a blupoint service cart at that job. Bought a small Craftsman on clearance for home. Then bought a small Masterforce from Menards and a service cart from Harbor frieght when I switched jobs. After a few years bought the biggest Masterforce, 72 inch. That's now my work box. It's a great box for the 800 bucks I paid. It was on sale for 999.99 when I purchased it. When I opened it up I found a dent on the front the size of an egg. Called them up and the saI'd they'd discount it. Went to the store after work and negotiated with the manager. He originally told me they'd knock 250 off for the dent but since I got it on sale he couldnt. He took 160 off, however when I bought it they didn't have the 11 percent rebate. So when he returned and resold me the box it turned out to be 840 roughly. On my way out of the store I grabbed a rebate slip and sent it in. I got another 11 percent through the rebate. After tax and all it turned out to be right about 800. The top drawer is around 4 feet long and chucked full of sockets, ratchets, and extensions. It has to weigh close to 300 lbs and works flawlessly. I would put my money on that box any day of the week. However last time I looked it was close to 2000 for it now. Since then I've resorted to buying boxes at local flea market, garage sales, and estate sales. Sometimes you can even score one real cheap loaded with tools! Never paid more than 100 bucks for used boxes. So nothing else if you don't have to have one right away shop around at some sales and wait for a deal. I've even known guys that get tool truck boxes real cheap at sales. Mostly older store brands though. But they still hold tools!
Joel

 

[Blueshound_GJ]

I am not discussing why this tax and fees. Even if I don’t agree with you. Highway is a funny thing.

But stating things like this will never make prices go down anywhere in the globe, this is of the many factors. Will gov employees willing to go take a pay cut for the country?

Unpopular opinion but tool boxes among other items have been underpriced for many years. Imagine how much toolboxes would cost if manufacturing hadn't all been moved by the corporations to China from 1970 to present. I'm sure someone here can track an old Sears ad and see what it would cost in 2022 dollars. We've all gotten used to cheap stuff, and it has come at the cost of American jobs. If we want those jobs back, we've got to buy USA made, with workers getting a real living wage. But cheap is a hard habit to break.

 

[toyotadriver]

Everyone wants a pay raise...but complains when companies raise prices. When you get a pay raise, you just raised prices. It's simple but so few people understand.

 

[dogdog]

Unpopular opinion but tool boxes among other items have been underpriced for many years. Imagine how much toolboxes would cost if manufacturing hadn't all been moved by the corporations to China from 1970 to present. I'm sure someone here can track an old Sears ad and see what it would cost in 2022 dollars. We've all gotten used to cheap stuff, and it has come at the cost of American jobs. If we want those jobs back, we've got to buy USA made, with workers getting a real living wage. But cheap is a hard habit to break.

Popular opinion doesn’t mean it makes logical sense or it is facts. We have been through this already. Basic business facts right.? Business is there to make money not to lose money. So again, the vicious cycle never ends. You wanted a raise, business are struggling, aside from other factors, they have no choice but to raise price. Cost of living goes up, you whines and want more raise, business have no choice but to raise price. And it continues on. I am pretty sure you get the grip what’s going on. If not, then some one seriously missed their economics class and took home economics instead.

Not sure. Unpopular opinion hence doesn’t mean it’s not a logical one, just like the first guy who claims earth is a globe probably was also unpopular. Look here here and here see who how globe the earth is now.

****And for those patriotic at the mouth without actions to help the country out of the vicious cycle. Are you willing to roll back your salary increase to help the country out of debt ?

 

[rharman]

So glad i bought my last (and final) toolbox in 2017. And VERY glad most of my tools were bought in the 70's & 80's. Mostly Craftsman USA stuff. Prices today scare the bejeebers out of me!

 

[CJM8515]

im happy i bought my HF boxes years ago. yea it stinks they arent as deep as the series 2-but I paid way less. my 44 and side drawer i think cost me like 400 something in the end and the 26" stack i got for like 180 cause it was damaged. everything has gone up due to inflation, the value of the dollar going down the *******, tariffs on imports and my fav..all these blasted stupid things the govt wants to spend money on.

reality is the price of stuff is only gonna go up as time wears on and the size and quantity of items keeps on going down.

 

[Firebrick43]

I live in CT and support this. Imagine you live on a corner lot, and all your neighbors cut through your driveway to save money. That's basically what NY and MA do with our state. Wish we could have got tolls on the interstates to help pay for road maintenance . Maybe someday.

IFTA already taxes the trucks for driving on your roads (CT) to fix them. They don't get to do it for free. Maybe you should be more upset with your state for mismanaging those funds.

 

[Blueshound_GJ]

Popular opinion doesn’t mean it makes logical sense or it is facts. We have been through this already. Basic business facts right.? Business is there to make money not to lose money. So again, the vicious cycle never ends. You wanted a raise, business are struggling, aside from other factors, they have no choice but to raise price. Cost of living goes up, you whines and want more raise, business have no choice but to raise price. And it continues on. I am pretty sure you get the grip what’s going on. If not, then some one seriously missed their economics class and took home economics instead.

Not sure. Unpopular opinion hence doesn’t mean it’s not a logical one, just like the first guy who claims earth is a globe probably was also unpopular. Look here here and here see who how globe the earth is now.

****And for those patriotic at the mouth without actions to help the country out of the vicious cycle. Are you willing to roll back your salary increase to help the country out of debt ?

I mostly agree with you. I think you proved my point about my opinion being unpopular. But I don't think the problem is with working class raises. It's the owners and stockholders. All publicly held companies are required by law to put the interest of their stockholders first - which means workers almost always get shortchanged on the value of their labor. It's the greed, amd obscene profits of the stockholders and executives that get -and spend most of that money, driving inflation. Yes, there's a small effect from the poor hourly worker that gets a 3% COL raise from $20.00 to $20.60. But it pales in comparison to the money being skimmed off the top.

IFTA already taxes the trucks for driving on your roads (CT) to fix them. They don't get to do it for free. Maybe you should be more upset with your state for mismanaging those funds.

Oh I am angry with CT 100%. For one thing, we have terrible pension issues, and for another the legislature caved to the trucking industry the last time tolls were considered. (Per my comment above, the drivers are not the problem - its that they are not compensated properly because of profit skimming by execs and stockholders and the whole "owner operator" scam to avoid paying benefits etc ). But regarding tolls, if I go to NYC I pay NY Thruway tolls; if I go to Boston I pay for the MassPike. And then I pay extra on my taxes to fix wear and tear for NY-Boston traffic.

Again, it isn't that toolboxes are too expensive now. It's that they have been too cheap for too long. Corporate profits reap the benefits. And American workers pay the price by losing the ability to earn a living wage.

 

[slowtwitch73]

The market has also increased. Lot more guys out there chattering away online about all the options, colors, etc etc. Used to be you were doing pretty well if you had a Craftsman ball bearing 3 stack in the garage. Now guys need/want really big boxes, stainless, colors, radios,, outlets, lights, themes, etc etc etc.

They have developed a market and are now 'servicing' it.

 

[Firebrick43]

Oh I am angry with CT 100%. For one thing, we have terrible pension issues, and for another the legislature caved to the trucking industry the last time tolls were considered. (Per my comment above, the drivers are not the problem - its that they are not compensated properly because of profit skimming by execs and stockholders and the whole "owner operator" scam to avoid paying benefits etc ). But regarding tolls, if I go to NYC I pay NY Thruway tolls; if I go to Boston I pay for the MassPike. And then I pay extra on my taxes to fix wear and tear for NY-Boston traffic.

Again, it isn't that toolboxes are too expensive now. It's that they have been too cheap for too long. Corporate profits reap the benefits. And American workers pay the price by losing the ability to earn a living wage.

You dont get it. The NY-boston traffic pays IFTA, which is an apportioned fuel tax, paid to the state the miles were driven in not where the fuel was bought. If that money isn't being used to fix the roads, then your state is not managing it properly. Thats it. Your paying extra, because of your state, not because out of state trucks are damaging the roads.

 

[runit]

Prices went up becuase the biz owners see that people are still buying. Prices won't decrease until people quit buying.

Lumber was SKYROCKETING in price yet houses were going up super quick. I never understood it.

The consumer has a big say in prices of things but we choose to be stupid and keep buying after price increases.

 

[reader2580]

Let’s not forget the wide spread mandatory increase of minimum wages. /rant

Most jobs these days pay over minimum wage, at least in Minnesota. MN minimum wage is $10.33 an hour yet most jobs pay $15 per hour or more right now. 18 states still have a $7.25 minimum wage.

I highly doubt minimum wage increases are causing tool storage prices to go up when most employers are paying well over minimum wage anyhow.

 

[73project]

Most company balance sheets are looking fatter than they were pre Covid/stimulus. It's looking like the price increases enticed manufactures to not only "pass on" increase costs, but to add a good deal of additional profit for themselves.