Abandoning Financial Updates? Steer Clear of Leisure Activities Instead.
In a twist of unfortunate events, Frank Vaughan, a 66-year-old retired pilot and human resources worker, found himself grappling with the repercussions of tariffs on an unexpected item - sails for his beloved sailboat. Since October, he had been working tirelessly to fix up a 1990 Catalina 18, but the search for the perfect sails turned into a frustrating ordeal.
Initially, he ordered two new Dacron sails from a Chinese company, expecting to pay around $400 each. However, with the application of tariffs, the price increased to a steep $1,200 per sail. Desperate for an alternative, Vaughan reached out to a Canadian company, only to learn that their sails, also sourced from China, would cost 50% more than he hoped. A domestic company quoted him closer to $800, with a waiting period of six to eight months.
Exasperated, Vaughan eventually found a set of used sails for $236 each. Worried about the rising costs of his hobby, he lamented, "I'm not willing to spend multiples of what I paid for the boat just for sails."
For hobbyists like Vaughan, the tariff drama is a double-edged sword. Not only are foreign goods becoming more expensive, but domestically produced goods may also experience a price hike due to the increased cost of materials. For a discerning collector like Keith Williamson, a 52-year-old ophthalmologist, the threat of tariffs looms large, particularly for foreign wines, which he feels are an "expression of time and place." Despite his expensive hobby, Williamson is mindful of value and plans to turn to his existing cellar and domestic wines if substantial tariffs hit.
For others, like Alia Danilo, a 29-year-old recreational baker in Brooklyn, the fear of rising prices for imported ingredients, such as Kerrygold butter, is a heartbreaking prospect. "If the cost of Kerrygold and other premium baking ingredients spikes, I would just sacrifice the hobby altogether," she lamented.
Amidst the uncertainty, businesses catering to hobbyists are scrambling to adapt. Kate Hay, a quilter who started an online quilt supply shop last year, heaved a sigh of relief when tariffs previously announced by Trump were paused for 90 days. As many of the fabrics she sells are from Japan and South Korea, tariffs of 24% and 25% threatened to hammer her small business. Yet she remains worried about a potential drop in sales due to cautious quilters holding back on purchases.
Similarly, Gary LeMaster, a baseball card collector, faces potential price hikes for protective sleeves and hard plastic cases imported from China. If the costs become unsustainable, he fears it could spell doom for the hobbyist community.
According to retail analyst Sucharita Kodali, during economic downturns, consumers tend to cut back on non-essential purchases. With uncertainty around job security, hobbyists might turn to used goods or forego their cherished pastimes entirely.
As the tariff landscape continues to shift, collectors, hobbyists, and businesses across the board are bracing for impacts that will reshape their relationships with their favorite activities. In the face of increasing costs, many are left with the desolate realization that they may need to rethink their connections to these activities that bring immense joy and serve as a sanctuary from the stressors of everyday life.
- The tariffs on sails have turned Frank Vaughan's effort to fix his sailboat into a frustrating ordeal, with each sail now costing $1,200, a steep increase from the initial expectation of $400.
- For hobbyists like Vaughan, not only are foreign goods becoming more expensive, but domestically produced goods may also increase in price due to the increased cost of materials.
- Keith Williamson, a collector of foreign wines, is concerned about the potential tariff increases, as he sees wines as an "expression of time and place."
- Alia Danilo, a baker in Brooklyn, fears the rise in prices for imported ingredients like Kerrygold butter could force her to give up her hobby.
- Kate Hay, a quilter, had worries about tariffs threatening her small business, as many of the fabrics she sells are from Japan and South Korea.
- Gary LeMaster, a baseball card collector, anticipates price hikes for protective sleeves and hard plastic cases imported from China, worrying that it could lead to the demise of the hobbyist community.
