oak slab pricing?

[yawning_dog]

A couple years ago I milled a friend's old oak log. I cut a couple 2.5" thick slabs for myself as I thought another friend might want them for electric guitar blanks. Well, the guitar guy never got around to it (nor do I think he was too interested in an oak electric guitar blank), and I'm not too interested in oak. So I decided to sell them.

There were two slabs. The larger slab's dimensions are roughly 8' long x 18" wide at the narrowest point x 2.5" thick. The smaller one is 5' long x about 24" wide x 2.5" thick.

I know that wood prices are subjective depending on demand, geography, condition etc. I priced these roughly by the amount of bf and assumed $3/bf. That's roughly the price out here for oak. Then I took off about a third because they were rough cut, and had some checking. Anyway, I asked $100 total for both. You think I overcharged, undercharged or was about right?

The reason I ask is that I don't want to rip anyone off, and the guy wants some more slabs... I don't do this for a living either. Just because I had them. Any opinions are appreciated! I'll upload a picture later today hopefully.

 

[zopi]

Might be comparing apples and oranges...you sold two slabs for what apparently you and the customer thought a fair price...but he wants some more
at (I presume) the same price...the question there is what is your time, fuel,
raw material, and equipment overhead worth?

the first time you sold something already invested..it was a windfall..the second time you have to find what it costs you..

the touchstone for a fair deal is..if you turn it around the other way, is it still
fair?

 

[woodshop]

...I know that wood prices are subjective depending on demand, geography, condition etc.

With that statement as your starting point, you are on the right track. Unless you're buying graded lumber from a retailer or sawmill, in which case strict rules about length, width, defects etc are calculated into the grade, and thus largely determine the going price, there really is no set value beyond what the buyer and seller agree is a fair price. At the level you are talking about, it becomes simply whether somebody wants that particular board enough to pay that particular price. I know, you have to start somewhere, and your calculations were a good starting point. My point here is in cases like yours there really is no fair or unfair price other than what both parties agree to. In this area of the country (eastern PA) $100 bucks for those two slabs of oak might be a little steep unless they were premium grade sawlog slabs with no knots or other defects. Now if it was Cherry... different story. Oak is still fairly cheap around here if you poke around enough, lots of competition for business as you get into the rural parts of PA.

 

[yawning_dog]

zopi, woodshop, thanks for your response! As luck would have it, I just found a source of redwood (a bunch of logs). I don't really have a use for it right now other than making some fence posts, but as long as the mill's out I'll make some slabs. I think I'll do a freebee for the oak guy. I think you guys are right, but in general the guy who bought the wood had less of a clue about pricing than I did. And if I'm already milling free wood, then there's no reason I can't cut him another slab! Anyway, thanks for your opinions. I'll take some pics of that redwood when I get around to milling it!

 

[yawning_dog]

Here's the two slabs in question. Front and back.