Dollar vs Rand: Impact on Trophy Prices and Daily Rates?

[Royal27]

Sorry, by limit I meant to change in exchange rate. I sure wouldn't need to be worried about a money limit exchange!!!!

 

[UKHunter]

No, there is no limit to exchange rate fluctuations.

 

[ActionBob]

@UKHunter and @Royal27 I am a bit confused how that works to be able to go back and get your original money back on exchanged currency... There has to be a cost to that. Unless you exchanged it with a good friend or family member who is giving you a special deal, in order to guarantee that they would have had to do a swap or some other type of option or protection for themselves... But you usually cannot get a decent deal on a swap unless there is considerable volume. So it is possible if a currency changer puts a lot together and does it that way but they must have gotten paid for this up front by adjusting the exchange rate they gave you vs. the actual market... Or something... Unless they are being so generous as to give you a gift?

 

[siml]

I know you can insure for the exchange rate, but it does have a cost.

 

[Royal27]

I know you can insure for the exchange rate, but it does have a cost.

Hidden or open I can't imagine that it wouldn't. I'm with you @ActionBob. It has to be in there, even if just in the initial transaction fee being higher.

 

[UKHunter]

The money changed was mine alone and was not grouped with anyones else's cash. I have no personnel connection to the company being used except that I am a repeat customer. I paid a charge to have my money exchanged but no more than I would of been elsewhere. Them offering to insure the exchange rate is just part of the deal they offer to out compete other rivals for customers.

I have, as well as friends and family used this policy before to convert unused currency back several times of varying amounts of money, sometimes very small.

 

[vinnymbogo]

That's the way international commerce works. I think it's just "sour grapes" if the hunter is upset that the outfitter is doing better when the hunter is still paying the same rate. Hunting Africa is not cheap any way you look at it; that is its appeal...you dream...you save and then you go no matter the cost.

 

[KVS]

An Outfitter needs to be fair. Be fair with his clientele but also with his business. As Simon mentioned earlier when the Rand slips production costs such as fuel and food increase and often when it strengthens those commodities don't necessarily go down.
Yes you can chase the exchange rate but I believe it is to volatile a market to workout everything.
We set out our pricing according to our costs and what we believe is a) Competitive within the market and b) Reasonable for our clients

Cheers
Jono

 

[Bhfs300]

I am not sure why the hunts are in U.S. $? When I went on a hunt in 2012 the charges were in U.S. $. The taxidermy was quoted in Rand. A year later when I got my trophies and payed the bill I am sure the taxidermy company got what they wanted for their work by in that year I saved about $200.

This year by the pack and ship company holding on to my trophies for five extra months since the bill was in U.S. $ they made more money. I am glad they finally sent them and didn't get too greedy or they might still be there.
I would agree with some of the comments that if the U.S. $ goes the other way it would mean it cost you more and I am sure if some one saw the bill and it was 80,000 R that might scare them away if they couldn't do the math. But you are doing business in a different country so the bill should be in their currency.

 

[Royal27]

This year by the pack and ship company holding on to my trophies for five extra months since the bill was in U.S. $ they made more money. I am glad they finally sent them and didn't get too greedy or they might still be there.

Actually, they made the same from you. Assuming the dip and pack cost $100 that is what you paid, regardless of when you paid them. What matters is when they exchange their money (it is no longer yours at that point) from dollars to rand. That is when they make more/less on their money.

 

[Bhfs300]

If they would have got done when it should have that $100 bill would have been 1070R but because they held on to it for longer that $100 bill they got 1300R. If they would have quoted me 1070R in the beginning then I would have taken $80 out of my bank account. If it was a $100 bill back last fall when they got the trophies and gave me the quote if would have only been about 1040R so yes it was the same U.S. $ if the quote but they shouldn't be quoting in U.S. $ they should be quoting in Rand that way they don't make money holding on to things longer.
Unless they are paying their help in SA in U.S. $?

 

[siml]

Bhfs, I disagree with you, I don't think a taxidermist would hold onto trophies hoping he gets a better exchange rate.

 

[Royal27]

You are assuming they immediately convert the money and that they are money traders that knew where the market was going, which I seriously doubt. Not doing work for months just so cheaper labor can be had on an exchange rate just doesn't make sense. There are many reasons why dip and pack can and does take longer than it should, no argument there, but the exchange rate isn't one of them.

Curious, did you complain the first time when it worked in your favor? Were those guys as generous as these guy are greedy? You can't have it both ways.

Like I said earlier in this thread, if you are afraid of the exchange rate increasing (like it has) then agree beforehand to pay in rand. But, don't get upset when the times comes to pay and the exchange rate is less than it was when you agreed to the deal and you end up having to pay more dollars to get the same amount of rand.

 

[Bhfs300]

TMS
Bhfs, I disagree with you, I don't think a taxidermist would hold onto trophies hoping he gets a better exchange rate.

I agree with you there were always other reasons why the shipment came late I just wanted numbers to show why that the bills/quote shouldn't be in U.S. $ they should be in Rand!!!!

I think I am like any shopper I want to get the best deal I can. If the quote was in Rand on a hunt and the $ was down I probably just wouldn't get an extra trophy or I wouldn't go on a field trip to cover the difference.

 

[Diamondhitch]

IMO, if a hunt (taxidermy, any product or service really) is priced in USD, choose whether you can live with that regardless of exchange rate. Or choose option B and stay home and pay USD for everything you buy anyway, regardless of the exchange rate with the country it was manufactured in.

 

[johnnyblues]

I don't understand , fellas .
you book a hunt knowing what the trophy fees and dayrates, were/are, in American dollars .
you are prepared to pay whatever that may be ......
now you want to play stock exchange . if the USD plummeted down , before you get to your adventure , would you offer to make up the difference ?
or would you say this is what I was quoted ,and was/am happy to pay this when I laid down the deposit ?

I know when I book a hunt its what im happy to pay , and before I throw any money at it , I know what service im getting and are happy , otherwise I wouldn't commit .
once the deal is done , its done mate
if l turned up and outfit said look the price is now this , id be carrying on ,like a 2 bob whore.....

Can't argue with you there. Has to go both ways. How many hunters willing to do that? Not me. I'd much rather cut the best deal before I send a deposit that way it keeps everyone honest. Now if my PH says hey I'll let you shoot that "animal " for X amount instead of X amount I have no problem with that

 

[BWH]

Honestly.... I don't know the "answer". However, I never feel that it is appropriate to muzzle the ox that treads your grain. So, if the exchange rate went the other way, how would you feel if the PH popped you for an extra $2500 upon check out.... It would suck wouldn't it..... Hey if they need/want extra money and are cutting deals, cool... Jump on the opportunity. But I wouldn't use it as a bargaining tool to screw someone that you will want to cultivate a working relationship with.... Possibly long term...... 2 cents.

 

[WildRose]

A deal is a deal. You are welcome to ask the PH or Outfitter if they are willing to give you more favorable terms if the exchange rate changes but if you book a hunt with the price in dollars that's what you are obligated to live with.

As someone else mentioned "add on's" and last minute deals that come available when you are already in country are certainly open to negotiation.

If the price was fair when you booked it though, it's still fair when you get there no matter what the exchange rate is.

While outfitters have a lot of fixed costs the rates they pay landowners can and do change on a moment's notice and you as a client who's got a contract more than likely will come out on the good end of that deal and the outfitter is the one eating the loss.

 

[ChrisT]

I am not sure why the hunts are in U.S. $? .

I believe hunts are priced in US$ so that customers know what they're letting themselves in for when booking a hunt.

Can you related to a Trillion Zim Dollars?

I live in Africa and even I couldn't (when the currency existed).

Regards,

Chris

 

[Bhfs300]

Looks to me like one U.S. $ is thirty five quadrillion Zim and if I was booking something there I would know that.
I bought a watch in Italy many years ago and paid 350,000 lira. At that time I new the exchange rate and got the watch they didn't tell me the watch was x dollars.
I am just saying why can't the bill/quote be in Rand so the PRICE IN THE COUNTRY I WILL BE IN IS USED.
As a consumer I will buy that currency if it looks like there is going to be a problem with the U.S. $.