Furniture Markups-Anyone Knowledgeable?

James Edward · 02-20-2003, 04:29 PM

I have narrowed down my choice in bedroom furniture, but have no idea whether or not the price is reasonable. It is by Broyhill, and I was quoted a price of $3100.00 at one store, and $3229.00 at another. The higher price was from what I consider to be an expensive store (Huffman Koos), leading me to believe that the 'discount' place might be able to go considerably lower.

Since it is not sold online, and only two places near me carry it, I'm wondering how much leeway there is in furniture pricing.

All opinions and thoughts welcome. Thanks...

MarkHastings · 02-20-2003, 05:01 PM

Quote:

I'm wondering how much leeway there is in furniture pricing.

I'm not 100% positive, but furniture shopping is very much like car shopping...I was able to haggle pretty well when I bought my couch. I'd suspect you have a lot of room to negotiate a lower price.

LDfan · 02-20-2003, 05:38 PM

Somebody told me once that there was approximately a 40% markup on most furniture. Don't know how true that is but I can believe it.

Jeff

KyleS · 02-20-2003, 05:39 PM

There is a ton of markup in almost all furniture but your limiting factor on haggling is that only 2 places near you carry it. If they know they are the only 2 then you may be screwed in regards to even trying to haggle.

You could use the two against each other to see what they will do on price for you to gain your business. What about financing at so many months with Zero interest as those can sweeten the deal to if you want to keep your money a little longer.

Khoa Tran · 02-20-2003, 08:37 PM

i think you should seek more places that carry whatever you're looking at, because i've seen place with the same exact furniture have prices 7000 at one place but 3000 at the other....there's a big difference....

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James Edward · 02-20-2003, 11:15 PM

Thanks for the replies. It sounds like I've got a shot at a better price. I'll let you know how it turns out.

Justin Lane · 02-21-2003, 09:59 AM

James,

Don't rule out mail ordering your furniture. When my parents were in the market for a new bedroom set, they ended up ordering the same set selling in the local store for over a thousand dollars less (delivered) by ordering direct. There are many discount furniture sellers in North Carolina. Do a search on Google. At the very least you may be able to get a lower price from one of these manufacturers/wholesalers, which would be a nice bargaining chip in getting a lower price locally.

J

Bob Friend · 02-21-2003, 10:02 AM

I used to work for a very large mattress company. I can tell you that there is a 100% mark up at each step in the chain. We sold to dealers for twice what it cost us to build, then they sold the matteresses for twice what the paid for it

Larry Price · 02-21-2003, 04:10 PM

James -

You live in Long Island. Take a drive to Carle Place - there are about 10 furniture stores in a row on Glen Cove Road, including Macys Furniture Outlet.

Also , I though Huffman gives you 5% off (or more) if you user their own credit card. That would make it 3135.

James Edward · 02-22-2003, 06:47 PM

OK- Thanks for the replies and advice. I went to another store further away from me as advised, and was quoted $2950.00, but they would not do any period of no interest financing.
So, we went back to the first store, and told the original salesman about the $2950.00 price. He offered us $2900.00, tax and delivery included, with 3 months of no interest financing after the furniture is delivered. Sold.
Thank you again for the replies. They definitely gave me a little more insight and saved me $200.00.