Red Sea Fail, very harsh!! But truthful IMO.
- Thread starter Bruttall
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MnFish1
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OK - I'll believe you - My guess is the margin is quite small. Perhaps you can enlighten everyone. BTW - I mean significant margins - in my area - they do not make a huge profit on selling a tank
MnFish1
10K Club member
You must not have read my posts. I said a while ago - I'm taking down my reef tank due to some construction - AND - that part of the reason was the potential risk of leaking.
MnFish1
10K Club member
Just to make sure - was that when you were trying to entice wealthy people into buying expensive tanks, etc - when you thought/believed the equipment was inferior?
Thats what I got from your previous messages - perhaps I am misremembering.
Snoopdog
Valuable Member
Dude what are you talking about? Are you apologizing again?
Snoopdog
Valuable Member
You cannot post on Facebook anonymously. You have to have an account. Now that account may not tie back to a real identity, but you have to have an account. Keep up.
Snoopdog
Valuable Member
Yeah. So you are thinking your tank may leak? Maybe because it is a Redsea?
Snoopdog
Valuable Member
From what evidence or is this speculation? I have two family members that work for State Farm and I can tell you that you are incorrect. Allstate and State Farm both will cancel you for things like having a sketchy tree too close to your house, having a roof needing replacing and absolutely for making a large claim.
Northern Flicker
Valuable Member
Correct, although in that price range, it's less about enticing, and more about having stock.
Icryhard
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Not sure why you think LFS aren't making any profits when they sell redsea tanks, or any other tank for that matter. Plenty of LFS around here who sell it and seem to be making good money from it.
MnFish1
10K Club member
I To answer your question - one store in this area which was actually focused purely on reef tanks, and corals (not as much fish), basically went out of business saying 'internet sales of dry goods and tanks is killing us - and though they had a great selection of corals, it wasn't profitable enough.
Another store to whom I just talked made a similar comment that the margins on tanks is very small for the LFS, that they make money on livestock, etc. They basically sell all of their dry goods at the same price the BRS sells them. Now perhaps BRS cuts them a deal - I don't know.
If stores in your area make more profit on tanks - all good - again - was just reporting my experience.
seanarino
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Kick me if I'm wrong, but this (this person) just looks like they're pinging everybody they can and going "well OTHER tanks leak too!!" - am i wrong?
MnFish1
10K Club member
Yes, no offense, you're wrong. There are some posts about leaking redsea tanks - which of course deserve sympathy and help. However, there are many people who don't own RedSea tanks weighing in - when, in fact, one of the largest (if not largest) wholesalers still sells and recommends the tanks, RedSea. One of the largest threads on R2R is 'Show off your RedSea reefer tank' (paraphrased) - and there are examples of many other aquaria that have had significant leaking issues - which were subsequently corrected - or they went to building smaller tanks Lets talk Marineland? to my recollection. I recently saw a thread complaining about Fluval EVO tanks, And what looked like an Aqueous tank that was leaking - on R2R.
But let's be honest - What I've clearly said is that the estimates of leaking tanks is 1% - which I found to be unacceptably HIGH. I said I personally would not purchase a Gen 1 tank, and recently gave mine up mainly due to construction - but in part because it was a Gen I tank. I would consider purchasing a Gen II tank.
I would not go as far as recommending that anyone with a Gen I tank sell it, but I would be watching it carefully.
Hope this clears up what I've said multiple times in response to posts like yours.
MnFish1
10K Club member
Its evidence. Go ahead and google it. I have a relative who is an underwriter and an agent with whom I've recently had contact about aquarium losses. A loss from an unexpected leak from a tank should not mean your policy is cancelled, unless you lets say hit it with a bat - or something negligent. Additionally, some policies require that you notify them that you have a large tank, etc. Just like if you have a Pit Bull or multiple other 'dangerous dogs'. If you lie about that on your application - you can be cancelled if you have an issue with one of those dogs/animals. Which is why - as a public service - I suggested anyone with a large tank speak and get it in writing - that your aquarium and damage to your property is covered if your tank breaks. Different states have different insurance regulations - so perhaps in some states, or with some cheap companies, they have in the fine print that they can cancel you. If you want insurance for your tank inhabitants - thats often NOT included in homeowners insurance without a special rider - or a policy from a different company
Northern Flicker
Valuable Member
My store, part of a large chain in Canada, used to make significant money on kitted set ups. Too hard to ship for a reasonable cost, and having a rep point out all the other items needed (heater, Chems, etc) made these kits moneymakers.
Livestock was never a huge profit margin, especially wild caught SW stock. Freshwater stuff that wa she’s okay farmed was much better margins, as we’re plants.
While I was there, individual dry goods like filters, lights etc were all slowly going down in sales.
I’ve been out of it for a little while now but I don’t think much has changed. It’s still too expensive to ship kits courier. Too much cost and risk.
Snoopdog
Valuable Member
Google what? What am I supposed to google? Google that insurance policies constantly get cancelled when making a large claim? Yeah I googled that and found plenty of instances where it happens, or they increase your rates. No thanks, it is bad enough living in hurricane alley and the last thing I need to do is claim a roof and fish tank in the same period. What do you think they provide in response to a claim? What is the street value on a mature yellow tang? You think they actually give you the real value or pay you back for all the hours of your time on emptying out a tank and transferring live stock?
What I do not get is your are actually saying that people need to rely on their insurance company for a company that is making faulty products? Seriously? How about they actually get their act together and make a public apology for making a faulty product? And before you actually say other companies have faulty products and do not make public apologies about it, how about they should also do it. Just because other companies do it does not suddenly make it alright.
Just because a company or human being is crappy and doing crappy things does not suddenly make it okay for others to act the same way. Being crappy just means you are crappy, that simple. Seriously quit apologizing, it is not a good look. Honestly at this point @MnFish1 do what you want I do not care, you are not going to change your mind on Redsea and I know for sure I will not ever give them another cent so peace out.
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