My friends and I went out to dinner last night at a high-end steak restaurant. I was gobsmacked when I opened the menu to see all of their steaks priced between $39.99 and $49.99. We live in a state known for its beef, so it’s not like they had to fly the cows in from across the sea. No mention of the steaks being kobe beef or expensive grass-fed or anything like that. We do not live in a city with a high cost of living.
Thank God my friend was treating. The cheapest thing on the menu was a steak salad for $18.99.
I ended up getting the 10 oz New York strip for $42.99. Granted, that was a fantastic steak. One of the best I’ve ever had. But $42.99??
What am I missing? What on Earth would justify such a price? The only thing I can think of is that this restaurant is very close to the most expensive neighborhood in my city and they charge these prices because they can and people pay them as a form of bragging. (For God’s sake, a cup of brussel sprouts was $8.99!)
Actually, there are reason other than “atmosphere” or “what the market will bear” for such prices. You need to learn more about the art of making a good steak dinner.
I read up on how AGING MEAT in particular works, because I was hoping to find out how to end up with as fabulous a steak as I can get in a better restaurant, at home. I learned that the AGING process isn’t a simple matter of putting the steak in a closet and waiting. What’s actually involved, is putting an entire SIDE of beef on a hook, in a controlled environment, allowing it to age (rot) while monitoring it, and gradually cutting off and discarding the parts that go bad. In order to get that cut that your meal included, that means that several more pounds of steak had to be thrown away.
Then, of course, comes the cost of the mixing of the spices and herbs it is marinaded in, the cost of the expert level chef bringing the meat to the level of rarity you prefer, and so on.
I’m not saying every CENT is justified, but more of it is, than most people realize.
What igor said, plus the fact that it requires a very high heat source to properly cook a steak like that. Your home equipment probably can’t get past 500 degrees, while most good steakhouses have grills that hit 800-1000 easy. Those suckers ain’t cheap.
I like great steak, so I’m willing to pay the price. The difference between Delmonico and Sizzler is…vast.
I’ve been to a few fancy restaurants, and when I’m strolling through nice commercial districts I like reading the menus that some restaurants will post at their doors. It seems like the nicer places dispense with that whole .99 bullshit. Go ahead, guys, charge that extra penny and see if anyone makes a fuss. Put that classy “43_” on your menus. You’ll thank me.
I just checked the price I paid for the last high-end steak I had. Oz for oz, it was right there with what the OP paid - about $4.30/oz. Mine was 16 oz for $69.
Some people would contend that the difference in result between a steak at a pricey steak house and a steak at, say, Texas Roadhouse isn’t worth the price difference, which can be two to three times as much. But, as with anything having to do with taste, it depends upon your tastes. I have had really good steak, and, when properly cooked and properly seasoned, such a meal can be a real delight, far transcending the experience at a lesser spot.
You can equally ask why my sister and brother-in-law pay up to $500 for a bottle of wine, when I can get Two-Buck-Chuck? Some things are worth it to some people.
But, it should be noted, a certain factor in the pricing has to do with, as always, the amount of money some people have to spend on dinner, which might be much more than you are willing to spend for the same thing.
I’m curious to know if the steak tasted significantly different/better than most steaks.
As for the high price, going to a high-end restaurant can be a form of conspicuous consumption. In that case, paying a high price is part of the appeal.
I remember an episode of Alton Brown’s series Good Eats, in which he described how one could dry age meat in much smaller quantities than a whole side of beef. A similar process is described here.
But when you eat out at a fine dining establishment you’re not just paying extra for the ingredient cost. You’re also paying for first-rate front of house service, a nice atmosphere and so forth.
You yourself said the steak was fantastic. I’ve found that if I want a pretty good steak it doesn’t cost that much, but if I want I really great steak it’s always expensive.
To expand on what igor said, it’s easy to overlook the cost and effort it takes to make a really good meal (and in a restaurant, effort = cost), not to mention all the additional effort it takes to make the whole thing an enjoyable overall experience.
The last time I made a really good meal for a very small gathering it was (a) time-consuming in everything from shopping to preparation to cooking, (b) very stressful and lots of work, including precision timing to have everything coordinated, and (c) expensive. I have at times bought beautiful marinated strip loin steaks from an upscale grocer that each cost about half as much as the one the OP is complaining about, or more, and that was for a raw steak, with all the work still to be done by me and all the other ingredients still to be provided and all the cleanup afterwards! Preparing a really fine upscale meal is not just expensive, it’s stressful enough that I’ve been known to yell at guests trying to be helpful to please stay out of my way – I turn into the proverbial temperamental chef!
So yes, when I go to a good restaurant and get a fine meal with great service and great atmosphere, like one I was just at last week that set me back a couple of hundred bucks for two, I can appreciate that I’m actually paying for value received.
The most expensive steak i had was a $140 7oz strip steak and it was unbelievably good. It was clearly better than any of the 30-40 dollar steaks ive had.
But my local Western Sizzlin (in a nearby town) ages their steaks. And they do not even approach the most expensive steaks in town. They have the same $25 limit on the upper end that most places have. And I never see sides for more than $6 or $7, though usually just like $4.
I actually question whether food can even be good enough to justify an over $100 per entree price tag. Surely you hit diminishing returns before that point.
Of course, I like my steaks at least medium, so what do I know?
