The extremely and inexplicably exorbitant cost of eye glasses

[GuanoLad]

My last pair of glasses cost $400, and that was twenty years ago. I got LASIK as soon as I could, not to save money (in that sense I haven’t even “paid off” half the bill of $5k) but for the annoying inconvenience glasses were for me.

Anyway, if the rate of inflation has been consistent, I’d assume if I bought prescription glasses today they’d be around $800.

[Krouget]

@Leaffan

What the fuck is the deal with eye glasses?

They mark the hell up out of glasses/shades. I used to do some work at an optometry office, and the doctor who owned the place, offered to replace my shades after noticing they were damaged. She revealed the cost to them (and what they’d charge me), vs the cost to the typical consumer. Needless to say, people get taken for a ride, when it comes to eye-wear.

But, what else is new.

[Avarie537]

I just got glasses for myself and my son from Zenni. Our total was about $140. I have a fairly strong prescription and heavy astigmatism so I’m used to paying $150 for lenses alone. Also, even though I’m 35, my prescription still changes enough to need a new pair every 2-3 years. Although the wait was a PITA, I’ll certainly do it again next time. And I won’t order them the same week as Chinese New Year.

[Doug_K]

@Krouget

They mark the hell up out of glasses/shades. I used to do some work at an optometry office, and the doctor who owned the place, offered to replace my shades after noticing they were damaged. She revealed the cost to them (and what they’d charge me), vs the cost to the typical consumer. Needless to say, people get taken for a ride, when it comes to eye-wear.

But, what else is new.

What do you mean by “mark the hell up”? Most places I worked the standard markup on frames and lenses was 50% (double wholesale), same as what’s normal for any retail:

The Ethics of Markup
Even though there is no hard and fast rule for pricing merchandise, most retailers use a 50 percent markup, known in the trade as keystone. What this means, in plain language, is doubling your cost to establish the retail price. Because markup is figured as a percentage of the sales price, doubling the cost means a 50 percent markup. For example, if your cost on an item is $1, your selling price will be $2. Fifty percent of $2 is $1, which is your markup.

From the same article:

Most consumers would be appalled that you are selling something for double what you paid for it. They would be inclined to ask why you don’t carry a gun and wear a mask. Most consumers have had no exposure to the myriad costs associated with retailing and they are used to thinking in terms of net profit margins they have heard in the media. For example, an article in the business section of a newspaper might report that Mega-Mart had sales of $500 million and earned a net profit of 4 percent. An uninitiated reader might conclude that Mega-Mart marks up its goods only 4 percent. In reality, net profit is calculated after overhead expenses have been subtracted from gross profit (total sales less cost of merchandise).

A lot of O.D.'s offices used to have much bigger markups, but that was before the federal eyeglass rule forced them to be more competitive.

[slash2k]

Per a review sponsored by CareCredit, the average markup on optical goods is 61% (2.6 times cost-of-goods), with a somewhat higher markup on lower-end basic spectacles. (Source– PDF warning)

[Doug_K]

@slash2k

Per a review sponsored by CareCredit, the average markup on optical goods is 61% (2.6 times cost-of-goods), with a somewhat higher markup on lower-end basic spectacles. (Source– PDF warning)

That only applies to optometrist’s offices. Most of my time was in independent retail optical. O.D.s are more likely to have higher prices, and less likely to have certified opticians (which effects the quality of service). They also tend to be bad about ignoring the federal eyeglass rule, not giving out prescriptions unless asked, and even giving patients who ask a hard time about it.