So, this past weekend was another education. I was told about “the old sewing machine we had when I was growing up”. Over the course of a day of phone calls I learned it was not the “Singer Featherweight” but rather a “Singer 301” - to be even more in the weeds, it was a “tan 301 long bed”. It was a workhorse of a machine and if I had one today, I’d be 100% satisfied. So here is where “supply and demand” comes in.

The Singer Featherweight is now a coveted machine. Actually it’s called the 221 and Singer never called it “Featherweight”. Both machines were old school American made, built for 3 lifetimes, but the featherweight weighed 11 lbs whereas the 301 was at least 16lbs - with their cases and accessories they were closer to 18lbs and 25lbs. The featherweight went through very few changes over the 30+ year run - mostly the only thing that changed was the color. It started out black in a black case. It ended up white in a white & foam green case (think June Cleaver). The 301 went from black, to tan, to two-tone tan. The 301 was a big improvement, mechanically, over the featherweight. The motor hung off the back of the 221 and was integral in the 301. Also the 301 was gear driven whereas the 221 had a belt drive. But, the 301, like me and most Americans, put on weight compared to the 221.

The featherweight has become a sought after machine for people who have to luck their sewing machines around. Personally, I would not think that would be a very big crowd - a quick sampling puts total production over 1 million units. So, if supply = 1,000,000 and demand = ‘niche’ it would seem easy to find a feather weight.

The reality of “supply and demand” is in the 5lb difference between the 221 and the 301. It is the difference in commanding $200-$500 per featherweight vs $75-$100 for a 301. The expectation is 301 will grow in popularity and price as the 221 prices climb out of reach.There is only just so much people will pay for that 5lb savings !

It really is interesting in what things depreciate to ‘zero’ over time and which ones rebound to ‘premium’ status.

In 1933, that was $0.40/hour. What’s interesting is that if you take 75 years of inflation (a bit more than 1500%) as well as the cost of living index (which has risen from 13.1 to nearly 220) you end up with an adjusted minimum wage of $6.70/hour.

The federal minimum wage for 2008 is set at $6.55 which is very close to the 1933 adjusted figure.

24 of states have set minimum wage higher than the federal level.

There are some things that can’t be deferred. The rule is …

If it is an addition to the project and does not replace or require demolition, then it is a candidate to be deferred.

Using this rule, things like windows, doors, radiant floor heating tubes, and upgrades to the roof are all fixed items. Things like the porch deck, a nice driveway, plantings, or “hook up” of the radiant floor heating are all options and open for the budget chopping block. I’m betting a lot more will be on the chopping block than previously planned … oh well. Getting the building up and sealed and moving my workshop in will be a big move in the right direction.