The Gem Tang Specials

Reefinometry · May 4, 2017

How is it that this week the price of Gem Tangs have suddenly plummeted in price? I've spoken to many of the people at my LFS and they all say that the wholesale asking price on these fish is much higher than some vendors are offering. So, I guess this leads to believe that has the price of this fish just come down to a price that will be the norm? I'm sure many of these vendors who can offer this fish at such a great price have made it the new suggested retail price. Just want to hear everyone's thoughts on these gem tang specials going around.

*Note: I am in no way knocking anyone offering these fish at a great price LOL

eatbreakfast · May 4, 2017

There is a new collector that is supplying them. More competition on the local level = better pricing.

zchauvin · May 4, 2017

REEFIN4LIFE said:
How is it that this week the price of Gem Tangs have suddenly plummeted in price? I've spoken to many of the people at my LFS and they all say that the wholesale asking price on these fish is much higher than some vendors are offering. So, I guess this leads to believe that has the price of this fish just come down to a price that will be the norm? I'm sure many of these vendors who can offer this fish at such a great price have made it the new suggested retail price. Just want to hear everyone's thoughts on these gem tang specials going around.

*Note: I am in no way knocking anyone offering these fish at a great price LOL

This is a hobby, fish and coral are listed at what the vendor knows people will pay. Quit paying $500 for a 1/4" frag and price will drop, stop paying $1600 for a fish and guess what?? Yep price will drop.

Reefinometry · May 4, 2017

zchauvin said:
This is a hobby, fish and coral are listed at what the vendor knows people will pay. Quit paying $500 for a 1/4" frag and price will drop, stop paying $1600 for a fish and guess what?? Yep price will drop.

While I agree with you here I think corals drop in price much faster than fish when it comes to people not wanting to pay for certain things. I think the gem tang situation was more about availability than people not wanting to pay $1600 for a fish causing the price to go down.

zchauvin · May 4, 2017

True, it looks like the vendor offering them for less bought quite a few. FWIW these fish only cost vendors around $5-600 most of the time. I'm sure they also got a quantity discount so the offer at lower price and still make 50% return. Works out well for all parties.

But, consider aberrant tangs.. an article comes up that they find an area full of these odd colored tangs. Suddenly price jumps up and people are paying $2000 for the fish that was going for a little over $200 I other parts of the world. It has more to do with what people will pay. If it's simple Supply and demand, the price should have gone lower not higher.

tj w · May 4, 2017

Collectors hold the cards here. If a collector gets the market for a particular fish or fishes they get to set the price. If they're more collectors they'll be more competition.

zchauvin · May 4, 2017

tj w said:
Collectors hold the cards here. If a collector gets the market for a particular fish or fishes they get to set the price. If they're more collectors they'll be more competition.

Meh, three years of doing orders from wholesalers and seeing interest in the hobby fluctuate and I have to disagree. Biggest thing is how much you feel like marking up what your selling and how much shipping/doa you have to allocate to everything.

Let me just throw this example out there... a particular wholesaler sells maricultured acro colonies for about $12 each currently. After shipping allocation you could sell for roughly $40 each and stand to make $25 on each one ( the more you order the less shipping you allocate obviously). If one of these looks "average" you can sell for $40. If you see two that look better you can mark them up to $60-$75 respectively and try to make the extra money especially if the market or x amount of your customers really like nice acros. Now if 95% of your customers are lps people then you will likely just sit on those two $75 acros and have to issue a sale for only $40 each two months down the road and hope to spark interest.

It's like any other industry, take a car for perfect example. In a lower income area you will be able to haggle more off of the cars price. In a wealthy area you aren't going to get as much off because the dealer knows people will pay the $$$.

eatbreakfast · May 4, 2017

Gem tang prices have dropped, but it will never be a 'cheap' fish simply because transport stateside requires at minimum 2 flights, sometimes more.

Baldguy · May 4, 2017

Simple supply and demand. Extra large shipment comes in to collector and then vender the only way to move product is to cut prices. If supply remains high prices will stay down.

Empress · May 4, 2017

2000$ for a single fish??? Does that come with a 14 day guarantee? If that fish dies before 14 days will the vendor be able to replace it with the same quality fish or does one get their money back?

evolved · May 4, 2017

eatbreakfast said:
There is a new collector that is supplying them. More competition on the local level = better pricing.

And there might be a vendor/collector relation in play too.
It's a bit taboo to cut out a wholesaler in the supply chain, but that could also make the price suddenly plummet in a particular outlet.

Baldguy · May 4, 2017

Empress said:
2000$ for a single fish??? Does that come with a 14 day guarantee? If that fish dies before 14 days will the vendor be able to replace it with the same quality fish or does one get their money back?

New special price is half that.

These venders do offer guarantees.

Sabellafella · May 4, 2017

REEFIN4LIFE said:
How is it that this week the price of Gem Tangs have suddenly plummeted in price? I've spoken to many of the people at my LFS and they all say that the wholesale asking price on these fish is much higher than some vendors are offering. So, I guess this leads to believe that has the price of this fish just come down to a price that will be the norm? I'm sure many of these vendors who can offer this fish at such a great price have made it the new suggested retail price. Just want to hear everyone's thoughts on these gem tang specials going around.

*Note: I am in no way knocking anyone offering these fish at a great price LOL

Ive seen about 10 different vendors with buckets of gem tangs so far. Im pretty sure there was only 1 collector before all this. Heard there was a new one in town, who knows. But there cheaper in other countrys. Hopefully there will be a steady stream of them comming in, so the price can turn out to be somewhat reasonable for this beautiful fish

ReefersDirect · May 4, 2017

Pricing dropped because they are now catching them off the coast of Africa instead of the Mauritius Islands. These fish are not caught the same way as the ones in the Mauritius islands are so we will not be offering them to our customers.
Personally, some vendors are selling them for less than what I pay wholesale. Needless to say we probably will not be carrying gem tangs any longer.

tj w · May 4, 2017

ReefersDirect said:
Pricing dropped because they are now catching them off the coast of Africa instead of the Mauritius Islands. These fish are not caught the same way as the ones in the Mauritius islands are so we will not be offering them to our customers.
Personally, some vendors are selling them for less than what I pay wholesale. Needless to say we probably will not be carrying gem tangs any longer.

What kind of collection practice are they using? Also, do you know first hand if this is fact? Just asking.

eatbreakfast · May 4, 2017

The new supplier, which is the source for the lower priced ones are collecting from Madagascar.

Baldguy · May 4, 2017

I've read articles about RVS Fishworld having opened a new collecting station on Madagascar. Maybe they are the new source.

ReefersDirect · May 4, 2017

tj w said:
Also, do you know first hand if this is fact? Just asking.

I'll try and pull that article again, like in all places there are some bad apples that use "different" collection techniques to catch fast swimming fish. I had one experience horrible enough to make me swear off bringing any fish direct from that region.

Baldguy said:
I've read articles about RVS Fishworld having opened a new collecting station on Madagascar. Maybe they are the new source.

It is, they had lots of them available recently. IMO we'll see restrictions placed on their collection in Madagascar soon as well if they care about their reefs. I just think they are currently not regulated and therefore collection of them is booming.

tj w · May 4, 2017

I understand the "different collection methods" you are saying. But what I'm asking you is whether or not you have first hand knowledge that these gems that are on sale right now through other vendors have been caught using these methods since that is what you implied.