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Friend Selling Shop Tools - Fair Prices?

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Forum topic by docspencer posted 03-15-2016 04:29 PM 1202 views 0 times favorited 22 replies Add to Favorites Watch
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docspencer

323 posts in 1729 days


03-15-2016 04:29 PM

A good friend of mine is moving and has decided to sell all of his shop equipment. It is used and older equipment and I’ve tried searching online for prices and having mixed luck. It’s sad to see him move, but he has some great stuff that I’ve been wanting to get. Below is what I’m interested in. If anyone can give me ballpark fair prices that would be great! He’s taken immaculate care of all of them. If it matters, I live in West Lafayette, IN.

General Jointer Model 1180

Delta Drill Press Model 17-965

Delta Mortiser Model 14-650 Type 2

Delta Drum Sander 1 1/2 HP Model 31-255X


22 replies so far

View mikethetermite's profile

mikethetermite

587 posts in 3050 days


#1 posted 03-15-2016 05:01 PM

I have no idea about a price on any of these. But I would be interested in the Delta Drum Sander 1 1/2 HP Model 31-255X and maybe the Delta Drill Press Model 17-965. I live just south of Indy, so no problem driving up to West Lafayette.

-- Mike The Termite ~~~~~ Working safely may get old, but so do those who practice it.

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docspencer

323 posts in 1729 days


#2 posted 03-15-2016 06:12 PM

You’ll have to crawl over me for the drill press – assuming my wife (aka CFO) says I can buy it. I’ll let you know how things progress on the drum sander. FYI – He’s thinking about an auction or estate sale for what he doesn’t sell to friends.

View dhazelton's profile

dhazelton

2591 posts in 2080 days


#3 posted 03-15-2016 06:29 PM

Rule of thumb I go by is half of what the price was new, then up or down some depending on condition.

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dhazelton

2591 posts in 2080 days


#4 posted 03-15-2016 06:29 PM

Rule of thumb I go by is half of what the price was new, then up or down some depending on condition.

SORRY – It won’t let me delete double post

View BinghamtonEd's profile

BinghamtonEd

2286 posts in 2153 days


#5 posted 03-15-2016 06:49 PM

I got my 14-650 off CL, came with 2 chisels (both 1/4”). The guy listed it for $90 or $100 I think, and I ended up trading something like 45 board feet of rough cherry for it (I paid $1/ft). I think, if it was in nice working condition, and came with a set of chisels (not just 2×1/4” ones like mine), $125-$150 would be fair. If he has it set up with anything like a X/Y table/vise, mobile cart, or nicer chisels, then I think you’d be fair closer to $200.

-- - The mightiest oak in the forest is just a little nut that held its ground.

View teejk02's profile

teejk02

471 posts in 909 days


#6 posted 03-15-2016 06:49 PM

You said “good friend”. Keep that in mind! I think that old 50% rule has been tossed out the window. Might now be closer to 75-90% of replacement (new) value on anything that doesn’t use a universal motor especially if he was “fussy” with his equipment. Just my experience around here anyway.

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BinghamtonEd

2286 posts in 2153 days


#7 posted 03-15-2016 07:52 PM

teejk02 makes a valid point. I’ve bought things off of friends before, and I’ve passed on things from friends before. You need to let your friend know that, while you’re interested, you’re offering what you think would be a fair price, for both buyer and seller, on the used market. You shouldn’t be lowballing him, but at the same time, he shouldn’t expect you to pay 90% new because you’re a good friend.

Or, if he comes in at 90% of new, and you counter with 20%, you could get really mad, punch each other in the face, and tell him to move as far away as possible.

-- - The mightiest oak in the forest is just a little nut that held its ground.

View Ocelot's profile

Ocelot

1848 posts in 2422 days


#8 posted 03-15-2016 09:07 PM

If he’s a good friend, pay him more than it’s worth. Good friends are worth far more than money!

-Paul

View conifur's profile

conifur

955 posts in 935 days


#9 posted 03-15-2016 09:22 PM

Watch CL and see what they/comparable items are asking for.

-- Knowledge and experience equals Wisdom, Michael Frankowski

View teejk02's profile

teejk02

471 posts in 909 days


#10 posted 03-15-2016 09:43 PM



Watch CL and see what they/comparable items are asking for.

- conifur

CL around here will lead to over-paying (large Amish population so nothing goes cheap) but that seems to be unique to around here. I think I’d see what comparable machines sell for new. With that information in hand I believe I’d let the seller open the discussion and take it from there. Some of my friends know what stuff is worth but just love the bargaining process (and might be disappointed if you take their offer). Learned a long time ago that the definition of a good deal is when both parties felt they paid too much(buyer)/didn’t get enough(seller).

View knotscott's profile

knotscott

7730 posts in 3159 days


#11 posted 03-15-2016 10:27 PM



Rule of thumb I go by is half of what the price was new, then up or down some depending on condition.

SORRY – It won t let me delete double post

- dhazelton

Worth repeating anyway! ditto…

-- Happiness is like wetting your pants...everyone can see it, but only you can feel the warmth....

View BulldogLouisiana's profile

BulldogLouisiana

325 posts in 924 days


#12 posted 03-15-2016 10:41 PM



If he s a good friend, pay him more than it s worth. Good friends are worth far more than money!

-Paul

- Ocelot

Haha. All of my good friends have that same philosophy….unless they are buying something from me. I usually take way less selling to a friend.

-- There are 10 types of people in the world. Those who understand binary and those who don't.

View teejk02's profile

teejk02

471 posts in 909 days


#13 posted 03-15-2016 11:09 PM


If he s a good friend, pay him more than it s worth. Good friends are worth far more than money!

-Paul

- Ocelot

Haha. All of my good friends have that same philosophy….unless they are buying something from me. I usually take way less selling to a friend.

- BulldogLouisiana


Haha…funny thing about good friends is that things tend to even out over time (it’s a “friend” thing…we all keep that mental tally in our heads).

View Ger21's profile

Ger21

1074 posts in 2915 days


#14 posted 03-16-2016 12:43 AM

I would think that if they are in excellent condition, then they would be worth about 75% of what HE paid for them.

Anybody that says they use the 50% rule is unrealistic.

-- Gerry, http://www.thecncwoodworker.com/index.html http://www.jointcam.com

View teejk02's profile

teejk02

471 posts in 909 days


#15 posted 03-16-2016 01:54 AM



I would think that if they are in excellent condition, then they would be worth about 75% of what HE paid for them.

Anybody that says they use the 50% rule is unrealistic.

- Ger21

That 50% rule might work as the start of negotiations with a stranger that you will never see again and really needs the cash (“fire sale”)! For a friend that really needed the cash a man gotta do what a man gotta do…

showing 1 through 15 of 22 replies

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