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For instance is he a machinist, engraver, stock maker, barrel maker, etc...?
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A gunsmith should enjoy his work first and foremost. Secondly, he should be good at it. For a long range rifle where accuracy is a premium, the gunsmith should be a very good machinist and very careful with his work. The ones I have had build me rifles will do stock work but it is the metal work that they enjoy and are good at.
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What should he charge an hour?
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If you go up one the different websites, you find they all charge about the same amount. It is the quality that varies.
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What should his mark up be on his merchandise?
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First he has to get a return (paid) on his time in ordering a part. This is just a part of business. It is not markup as I see it. There is no free lunch. If he makes you a totally new and custom part then you pay for his effort.
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What services does your favorite smith offer?
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I have never asked for any checkering on a thousand dollar piece of walnut and I would not ask for that. I would have a stockmaker do any really fancy woodwork.
The one thing you do not ask is what is included in the price of a gun. The most valuable thing you get is knowledgeable advice. I am constantly amazed that people who have a great gunsmith available to them will ask perfect strangers for advice on what barrel, what trigger, what twist, what bases and what rings. A gunsmith puts a hundred of these things together and knows which parts work well with each other and which ones are dogs. If you don't think your gunsmith is knowledgeable then you should change.