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I have Multiple Tools to sell I need help pricing them

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Forum topic by Sunrise posted 09-02-2016 08:35 PM 793 views 0 times favorited 11 replies Add to Favorites Watch
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Sunrise

1 post in 95 days


09-02-2016 08:35 PM

Topic tags/keywords: tools sale fore sale bandsaw lathe planer scroll saw drill press router blade clamp jointer plane tablesaw

My father passed away but he was a master cabinet builder and left us with so many tools I don’t know what to do with. Most Are older but in good conditioner. But some are brand new since he never got a chance to use them. How does one sell all these tools for a fair price? I would like to do tool sale to get rid of as much as possible to free up space in the garage. We are trying to make enough money to put an engine his truck.
Any help or ideas arranging such a sale would be appreciated


11 replies so far

View Jim Finn's profile

Jim Finn

2409 posts in 2385 days


#1 posted 09-02-2016 08:40 PM

The way to find the worth of used equipment is: Do a search for it on line or, if no longer in production, the price of a simnilar new one. 1/2 of this price is the top price you should expect when selling. Usually lower than 1/2.

-- "You may have your PHD but I have my GED and my DD 214"

View Kazooman's profile

Kazooman

626 posts in 1415 days


#2 posted 09-02-2016 08:59 PM

Check out Craigslist for your area looking for the exact tools or similar items. The resale value varies quite a bit from place to place. Probably just supply and demand at work.

You can “sweeten the deal” on some items to get a bit better price. For example, a table saw might have a base price. Add in a few extra blades, a dado head set, or an out feed table and the price could go up. A lathe is nice, but a good set of tools and a few specialty chucks, tool rests, etc. add to the value. Be certain to specify all of these “extras” that are included in the deal.

Describe the individual items accurately. You will often read comments here about someone asking if a particular item is priced properly and you see replies like “the fence is worth at least that much, buy the lot and resell the saw”.

It would help a lot to see pictures of some of the tools. Are they all large machines? You mention that most of the tools are older. There are a lot of collectors of vintage hand tools who would love to take a look at what your father had in his shop. Your father’s “go to” plane that he had for decades could be a real keeper worth quite a bit more to a collector than it would be to someone combing through items at a garage sale.

Finally, let us know where you live. There might be local members of the forum who would be happy to examine the tools to offer advice.

View muleskinner's profile

muleskinner

880 posts in 1900 days


#3 posted 09-02-2016 10:42 PM

If it were me and I knew nothing of the value of his tools I’d look for a friend of his or of yours that was a woodworker, or at least tool knowledgeable. Someone you would trust to not low-ball or high-ball the values.

It’s easy enough to figure out values for machinery like table saw, planers, etc. But a master cabinet maker is going to have acquired a lot of incidentals over the years. Going through a lifetime accumulation of hand tools and accessories would be a pretty daunting chore if sometimes you don’t even know what your looking at.

I’d look for personal help.

-- Visualize whirled peas

View Don W's profile

Don W

17962 posts in 2030 days


#4 posted 09-02-2016 11:07 PM

Post pictures

-- Master hand plane hoarder. - http://timetestedtools.net

View ddockstader's profile

ddockstader

151 posts in 2724 days


#5 posted 09-03-2016 07:58 PM

Look for a woodworking club in your area and contact them. Our club gets calls like this 5 or 6 times a year from widows or family members. We then send some of our more experienced members out and evaluate the various tools and recommend prices just as a community service. If the family is intending to have a sale, we put that on our web site for our members. We do ask that our members be allowed in about an hour prior to the start of the sale so they can purchase anything they see that they like. It’s a benefit to the family, our members and the community.

View HorizontalMike's profile

HorizontalMike

7145 posts in 2377 days


#6 posted 09-03-2016 08:46 PM


The way to find the worth of used equipment is: Do a search for it on line or, if no longer in production, the price of a simnilar new one. 1/2 of this price is the top price you should expect when selling. Usually lower than 1/2.
- Jim Finn

While I respect Jim, I disagree to ONE extent. One HALF of a NEWLY PRICED equal piece of equipment, should be the MINIMUM!

WHY?
  • MOST, not all, of the WW-ers on LJs are weekend warriors (think light usage) and NOT Professionals. Obviously A1Jim, Charles Neil, and a hand full of others ARE, however they are easy to spot AND HONEST ABOUT IT, so I wouldn’t worry too much about buying a piece of “used” equipment from the KNOWN professionals. They are good folks and understand that one bad deal could ding them for a decade or more.

OK, I admit, that I have bought used equipment at OVER the “holy” price of 50% of new. I factored in how close I was to the source, I didn’t have to pay shipping, didn’t pay any sales tax AND I was home in an hour or less! I KNEW what I wanted and WAITED for it to come up on E-Bay/Amazon/ETC./ETC. for a price that I was willing to accept. Long run = I win. That said, how do you do that?

Think about just how soon do you absolutely HAVE TO HAVE THAT piece of equipment. Geeeeez, I put up with a 10” Drill Press for over 21-YEAR finagling and adapting, ...before buying the 20” DP that I really needed. Sorry to say this, HOWEVER, your own purchase decisions will determine HOW FRUSTRATED your future WW-ing MAY be.

Very FEW folks make $$$ in WW-ing, and by far MOST are hobby type “enthusiasts” that never planned for nor wanted to turn it into a profit making “JOB.”

BOTTOM LINE:
  • Unless you want to spend the time to become literate on WW-ing, then you may as well cut your losses and liquidate ASAP. NOT an easy answer… I’m sorry…

-- HorizontalMike -- "Woodpeckers understand..."

View DrDirt's profile

DrDirt

4169 posts in 3205 days


#7 posted 09-06-2016 07:20 PM

Post a list here, and you will get some ideas, and a wide range of valuations… but certainly a feel for what other hobby woodworkers would “expect” to see as an asking price and what they expect to pay.

Some tools have fallen out of favor over the decades, and will be a tough sell…. Some folks love them, but for example a Radial Arm saw – - it seems you have to nearly give it away… everyone went to a Sliding Miter Saw and never looked back.

the magic 50% point is also about age…. 50% will be top dollar for something more than 10 years old and/or discontinued.

Geography will also play a role…Some areas have a lot of Woodworkers (and woodworking tools for sale) while other areas have fewer woodworkers and a small market.

-- 'Political correctness is fascism pretending to be manners' ~George Carlin

View Rick M's profile

Rick M

7913 posts in 1843 days


#8 posted 09-06-2016 07:40 PM

You really need advice from someone local. Values are regional and depend a lot on the education level, tech savvy, median income, and availability of that machine. If you live in Los Angeles, any pricing advice given to you by someone in Ohio, Florida, New York, or anywhere else that isn’t Los Angeles is a crapshoot. 50% is a fallacy, a made up number that keeps getting repeated because people want to be helpful and it’s easy generic advice. The only value something has is what someone will pay for it. Most likely you will undervalue some things and overvalue other things, it’s normal. Craigslist can be helpful but remember the prices are asking prices not selling prices. You could also hire an auctioneer and let them handle it. They will get the most they can but will want a cut.

-- http://thewoodknack.blogspot.com/

View ChuckV's profile

ChuckV

2880 posts in 2990 days


#9 posted 09-06-2016 10:20 PM



Look for a woodworking club in your area and contact them. Our club gets calls like this 5 or 6 times a year from widows or family members. We then send some of our more experienced members out and evaluate the various tools and recommend prices just as a community service. If the family is intending to have a sale, we put that on our web site for our members. We do ask that our members be allowed in about an hour prior to the start of the sale so they can purchase anything they see that they like. It s a benefit to the family, our members and the community.

- ddockstader

I second this recommendation. You could also look into getting help from a local community college or vocational school with a woodworking program.

Best wishes.

-- “Big man, pig man, ha ha, charade you are.” ― R. Waters

View DrDirt's profile

DrDirt

4169 posts in 3205 days


#10 posted 09-07-2016 01:31 PM

+1 Chuck V and Ddockstader

Machinery will be a pretty quick/simple assessment -

A guild/club contact would be especially helpful if there are a lot of old and refurbished hand tools like Planes – -

Help you avoid selling a vintage Stanley #51 shooting plane at the same price as the newer shiny Wood River Smoothing plane.

-- 'Political correctness is fascism pretending to be manners' ~George Carlin

View dbray45's profile

dbray45

3185 posts in 2240 days


#11 posted 09-07-2016 03:23 PM

You may want to find any local lumber mills and speak with them. Some of them may have a clientele that are looking for some of these tools.

-- David in Damascus, MD

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