When I go out for meals, I never order steaks. Why? Because to me, they aren't worth it.
Some background first. Beef can be very roughly segregated by their country of origin, for example, US, Australia, New Zealand. Generally, US beef is the best, followed by Australia, then New Zealand. One also has to look at the beef cut - tenderloin, ribeye, striploin, sirloin, rump, just to name a few. The tenderloin is more expensive because it is the most tender, while the rump is cheaper because it is tougher and dries more easily. Personally, I favour the ribeye most.
How do you cook steaks? It is very easy. With just salt and pepper, you can make a steak taste fantastic. As for how well done you want it to be, it depends on individual preferences.
1) Season the steaks with salt and black pepper
2) Ensure that the pan is hot before you add a bit of oil
3) After the oil is hot, put the steak in
4) Fry it for around 1.5 to 2 minutes for each side (for medium rare, but also depends on how thick the steak is)
This is just a rough guide and the timing depends on how thick your steak is, but you can play around. And there, you will have a delicious steak.
If you were to order a steak at a restaurant, it will probably cost more than $20. Let's use Jack's Place as an example.
Jack's Place
NZ Tenderloin = $24.50
NZ Striploin = $19.50
US Sirloin = $24.50
US Striploin = $28.50
US Ribeye = $32.50
Their prices are already considered quite reasonable. Aston's should be cheaper, but I can't find their menu online.
What if you were to DIY?
From supermarkets, one can get beef steaks at very reasonable prices. For example, I am able to get 250g of US Ribeye for around $12 - $15. And steaks are quite easy to cook, require little preparation, and can be done in a short time. This separates it from other foods, which also have a big price mark-up from their cost value but requires much more time and skill to prepare.
In fact, a few days ago, my family bought some Wagyu ribeye (Grade 4 to 6) from NTUC Fairprice Finest's Culina. It was on offer - $11.70/100g instead of $13 - so a 200g steak would cost around $24-$26. Contrast this to Jack's Place. Personally, I don't think its worth it to pay $32.50 for a US Ribeye while I can fry a Wagyu ribeye steak myself for $24! My estimate is that a Wagyu ribeye steak would cost at least $70 to $100+ outside, depending on its grade.
If more skill and/or time was required in preparing the dish, it would be arguably more justifiable, but as I mentioned, beef steaks are so easy to prepare yourself. So why order outside?
From supermarkets, one can get beef steaks at very reasonable prices. For example, I am able to get 250g of US Ribeye for around $12 - $15. And steaks are quite easy to cook, require little preparation, and can be done in a short time. This separates it from other foods, which also have a big price mark-up from their cost value but requires much more time and skill to prepare.
In fact, a few days ago, my family bought some Wagyu ribeye (Grade 4 to 6) from NTUC Fairprice Finest's Culina. It was on offer - $11.70/100g instead of $13 - so a 200g steak would cost around $24-$26. Contrast this to Jack's Place. Personally, I don't think its worth it to pay $32.50 for a US Ribeye while I can fry a Wagyu ribeye steak myself for $24! My estimate is that a Wagyu ribeye steak would cost at least $70 to $100+ outside, depending on its grade.
If more skill and/or time was required in preparing the dish, it would be arguably more justifiable, but as I mentioned, beef steaks are so easy to prepare yourself. So why order outside?
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