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S&G 8088 fair price?

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DroppedTensionWrench

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Post Tue Jan 12, 2016 11:52 pm

S&G 8088 fair price?

After a brief chat with my local locksmith he showed me some new 8088 combo locks up on his shelf. Original box, papers ect. He said he would cut me a good deal Saturday when I stop back in, but didn't name a price. In your opinions what's a good price? Thanks!
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Riyame

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Post Tue Jan 12, 2016 11:53 pm

Re: S&G 8088 fair price?

Well, I have seen them NIB on ebay for as little as $30 average or so but as high as $50 in a bidding war.
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DroppedTensionWrench

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Post Wed Jan 13, 2016 3:30 am

Re: S&G 8088 fair price?

Ok thanks Riy.
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Oldfast

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Post Wed Jan 13, 2016 4:49 am

Re: S&G 8088 fair price?

Riyame wrote:Well, I have seen them NIB on ebay for as little as $30 average or so but as high as $50 in a bidding war.

:agree: From what I've seen, I'd say that's about spot on.
" Enjoy the journey AS MUCH as the destination."
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MBI

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Post Wed Jan 13, 2016 4:52 am

Re: S&G 8088 fair price?

Yeah, the market doesn't really seem to bear the suggested retail price on those. Not even close.
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LocksportSouth

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Post Wed Jan 13, 2016 1:00 pm

Re: S&G 8088 fair price?

DTW, let us know what your lockie quotes you. Will be interesting to see if he's in the loop on pricing or away in la-la-land.
Not sure what retail is, but the only NIB with instructions one on eBay currently is This one which seems pretty steep although it says "vintage", not sure if that one is considered collectible or not. I'm pretty sure I've seen other NIB ones go for way less.
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DroppedTensionWrench

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Post Wed Jan 13, 2016 1:22 pm

Re: S&G 8088 fair price?

Will do. He said he doesn't go online at all so it should be interested. Thanks for the input fellas.
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MBI

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Post Wed Jan 13, 2016 6:53 pm

Re: S&G 8088 fair price?

LocksportSouth wrote:Not sure what retail is...


I could be WAY wrong, but if my memory isn't failing me, suggested retail is somewhere between $200 and $300. Designed for the govt and govt contractors who needed combo padlocks that couldn't be manipulated, or something along those lines.

Sort of like the crazy pricing on the S&G 833, 951, etc. Security Snobs carries them largely because they wanted the prestige of being one of the only places that lists them in a retail setting. I believe they didn't expect to sell many, but were surprised at how many govt contractors and even military units were coming to them to buy these locks. Apparently contractors are REQUIRED to use these locks to secure certain materials, or they can lose their contract and be subject to substantial penalties if they're inspected and found to not be in compliance. With military units, you can be court martialed if you fail to properly secure munitions. Since the military supply system is so slow at times, units will use their discretionary funds to buy necessary equipment outside the supply chain if it gets it to them in time. Because of the NEED to have these locks, they'll pay what's required to get them. Security Snobs actually has a low markup on them at that $1300 price tag (which is well below suggested retail), but S&G (the manufacturer) prices them very high simply because they CAN.

I think the high retail price on the 8077 and 8088 was based on a similar situation. Once those locks largely went out of official use, there weren't many left willing to pay the actual retail.
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LocksportSouth

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Post Wed Jan 13, 2016 7:01 pm

Re: S&G 8088 fair price?

That's some very cool info MBI, thanks! I always wondered if the SecuritySnobs 951 was at a massive markup or just that was the RRP for a 951 (although they only supply the 951C IIRC). The 8088 is a nice lock (I believe there's an older and newer version with a spy proof window) and it'd be cool to pick one up 'as new' sometime but I'm in no real rush for that. I'm surprised nobody has come out to compete with SecuritySnobs for providing these high security locks to private collectors and gov't contractors but I suppose there's just not enough demand to keep two such companies in business.
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MBI

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Post Wed Jan 13, 2016 9:09 pm

Re: S&G 8088 fair price?

LocksportSouth wrote:... I'm surprised nobody has come out to compete with SecuritySnobs for providing these high security locks to private collectors and gov't contractors but I suppose there's just not enough demand to keep two such companies in business.

It might be lack of demand, but I suspect it's because it's a LOT of cash to tie up in inventory that won't give a large or fast return on investment. Think how many smaller items they could put in inventory for the same amount of money. Items that would sell quickly and regularly and with a bigger profit margin.

I'm glad they stock those big locks. It's cool to have a storefront to look at that sells uncommon dealer cutaway sale sample sets, exotic items like the RKS robo-dialer lock, S&G military padlocks, and even a whole category of nothing but locks for collectors and lockpickers.
https://securitysnobs.com/Collector-Locks/
Some complain that prices are too high, but I think it's because people have become spoiled by seeing NOS (new, old stock) and used locks on eBay selling for WAY below dealer cost. They don't realize just how much high-security (REAL high security) locks sell for in the real world. While Security Snobs doesn't make a "lowest price guarantee" or anything like that, they do try to be competitive with pricing. If you shop around it's not easy to find a dealer that can consistently beat their prices on new high-security locks.

Also, if you want to place an order on collector locks, I have an old 10% off coupon code that might still work. It won't apply to some locks like RKS, S&G and a couple others since the margin is too low on those, but it should work on most of their inventory if they haven't purged it from the system yet. Send me a PM if you plan on placing an order.

Oh, I just remembered at Defcon they had a big batch of S&G 8077 padlocks that they were selling at a decent price. I don't see them on their storefront, but I'm curious if they have any left. I don't know why I didn't think of that earlier when I first read this thread.

*Disclaimer: I'm friends with the owner of Security Snobs (he's a member of many of the lockpicking forums) and I helped a bit in coming up with the name and setting up the online storefront, which is how I know a little bit about the pricing. Other than that I don't have a current affiliation with the store. I don't make a dime on anything you buy from them, just so you don't think I have any ulterior motives in mentioning them.
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GWiens2001

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Post Wed Jan 13, 2016 9:53 pm

Re: S&G 8088 fair price?

Will say that I have no affiliation with Security Snobs at all. But have purchased from them numerous times. Have always been quite pleased with the pricing and service. Highly recommend them.

Gordon
Just when you think you've learned it all, that is when you find you haven't learned anything yet.
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DroppedTensionWrench

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Post Sun Jan 17, 2016 1:29 am

Re: S&G 8088 fair price?

LocksportSouth wrote:DTW, let us know what your lockie quotes you. Will be interesting to see if he's in the loop on pricing or away in la-la-land.
Not sure what retail is, but the only NIB with instructions one on eBay currently is This one which seems pretty steep although it says "vintage", not sure if that one is considered collectible or not. I'm pretty sure I've seen other NIB ones go for way less.


Couldn't make it today. The Mrs. had her appendix removed. Hopefully catch him Monday there.
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Oldfast

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OldddffAASSTT the Spin Master Extraordinaire and American Lock Slayer
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Post Sun Jan 17, 2016 3:23 am

Re: S&G 8088 fair price?

Hopefully planned, rather than an emergency.
" Enjoy the journey AS MUCH as the destination."
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DroppedTensionWrench

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Post Sun Jan 17, 2016 4:11 pm

Re: S&G 8088 fair price?

It was a long wait at the ER. Really quick when they finally did though only 40 minutes with 3 small incisions.
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GWiens2001

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Post Sun Jan 17, 2016 4:27 pm

Re: S&G 8088 fair price?

Hope her recovery is swift and complete.

Gordon
Just when you think you've learned it all, that is when you find you haven't learned anything yet.
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