Pricing Used Tools

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Forum topic by Jim posted 12-17-2010 07:20 AM 8947 views 0 times favorited 14 replies Add to Favorites Watch
View Jim's profile


38 posts in 2473 days

12-17-2010 07:20 AM

Is there a good way to determine how much a to ask for a used tool? I have 2 dust collectors that I will put up for sale in the next month or so after I get a cyclone system. One is a Jet DC-1200 2 hp with the canister and the other is a Grizzly 2hp with a filter bag. Both have remotes. The Jet is about 2 years old and the Grizzly about 3. My cousin asked me to price the Jet and I don’t know what to tell him. I know if it is too close to what I paid it won’t sell but, like everyone else, I want to get all I can. Is there a pecentage of purchase price I should ask? Any suggestions appreciated.

-- JimT

14 replies so far

View Dan's profile


3630 posts in 2303 days

#1 posted 12-17-2010 07:44 AM

I usually check Ebay, Criaigslist or other online sales forums to see what others are asking or what other used ones are selling for. You should be able to get a good idea from that.

-- Dan - "Collector of Hand Planes"

View canadianchips's profile


2310 posts in 2419 days

#2 posted 12-17-2010 04:16 PM

A rule of thumb used to be: 30% comes of the top the day you bought it , because now it is “classed” as used.
Buying a new one gives you warranty, choice of machine, etc,etc.
Buying used you generally have no warranty, you take what you see.
I do buy almost everything used. I feel if the tool is a good quality you won’t need the warranty anyway !
And now for my story:
I purchased 1 new vehicle in my life. Never bought another NEW one again. (For the record that 1 new vehicle is in a shed in my back yard, still take it out for drive once a year)

-- "My mission in life - make everyone smile !"

View GMman's profile


3902 posts in 3120 days

#3 posted 12-17-2010 04:39 PM

Used tools are very hard to sell because of the ons that come on sale all the time, if you can get 25% of the new price you’re lucky.

View MedicKen's profile


1610 posts in 2884 days

#4 posted 12-17-2010 04:48 PM

I would start in the 50-60% of new retail prices. It also depends on how hard the tool has been used and if any repairs are needed. If the tool is older, 20+ yrs, figure some maintenance will be needed and factor that into price. Ebay and Craigslist are NOT a good representation of pricing. Almost all of the tools there are way over priced.

-- My job is to give my kids things to discuss with their

View richgreer's profile


4541 posts in 2497 days

#5 posted 12-17-2010 04:53 PM

It’s my observation that the ratio of used prices to new prices varies by brand. Lie-Nielsen, Veritas and Festools often sell for 80-90% of what a new tool would cost. I’ve even seen some sell for over 100% of the new cost.
With some of the cheaper brand names you get very little, if anything, for used tools.

Checking the going prices on ebay and CL is a good idea.

However, it I were selling a Jet or a Grizzly, in good condition, I’d be happy to get 50% of the original price.

-- Rich, Cedar Rapids, IA - I'm a woodworker. I don't create beauty, I reveal it.

View HorizontalMike's profile


7064 posts in 2336 days

#6 posted 12-17-2010 04:59 PM

Searching LJ for used tool values I came across this LJ opinion (keeping poster’s name anonymous):

”I never pay more than 50% of retail for used tools unless they are less than a year old and in really great shape. One thing about used equipment is that you can usually resell it for the same price you paid for it.”

I bring this up because I kept seeing the ”50% off new” referenced quite a bit. To me, this price mark appears to be being set arbitrarily by “buyers” as the proverbial ”good deal.” For example, I even found a 16 year old Grizzly jointer go for this 50% off when considering buying a 2yr old model jointer.

All this being said, there is wiggle room between 50% and “full retail” for used equipment. Pay attention to condition of used equipment and to the environment/shop that it came from. Much can be learned by looking around at the surroundings. If a piece of shop equipment is NOT in the “shop” then ask WHY. Original receipts are always a positive, giving you a better perspective on value.

Finally, DO consider shipping costs (or the lack there of). If you find a piece of used equipment locally and do NOT have to pay what would have been “shipping costs”, that is money still in your pocket. The seller also knows this, so use this knowledge when bargaining for a proper “price.” A price that sounds “high” (retail to used price) may be a better bargain when you consider that you don’t have to pay shipping. For example, on that jointer I purchased “used”, I saved $150 in shipping costs by picking it up local and added to the $200 “off” retail price ($700 vs $899) for just the jointer, I actually “saved” nearly twice as much as I would have had I ordered “new” and had to pay shipping.

There is no hard and fast rule for value, but “canadianchips” is correct in that 25-30% does come off the top because of the lack of warranty on older equipment that is beyond the warranty period. Along those lines, any equipment problems should now have already been worked-out/repaired.

Good luck, and keep your eyes open.

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

View marker's profile


22 posts in 2203 days

#7 posted 12-21-2010 05:02 AM

Here’s my two cents on prices of used tools. Some earlier posts suggested that 50% is a good rule of thumb. I tend to think that there is no reliable rule of thumb. In my opinion any rule of thumb would more likely apply to commodity types of merchandise. I would not classify woodworking tools as commodity items. When discussing real estate it is often said that the market is local, very local. It is even more localized because every seller has different needs. I believe that this especially applies to used items. I realize that my perspective is that of the buyer, but may be filtered to benefit a seller.
So what motivates a garage sale seller? There could be a million different reasons, and only one might be the price he receives. Other reasons could include a job transfer and it’s too expensive to move, a divorce, no longer interested in woodworking, there is not enough room in the garage, his wife has been nagging him to get rid of that unsightly piece of junk so she can park her car, etc. I live in Nevada where there is massive unemployment and home foreclosures are happening left and right. When folks know they have only a few days until the sale, they are very motivated to get rid of everything and get whatever money they can so they can move on.
With that in mind I have frequently seen garage sale items sold for 20, 10, or even 5 cents on the dollar. Likewise, items that are in high demand have gone for perhaps 70% or 80% of new.
As an example, I had wanted a 14” band saw for quite a while. They rarely appeared on Craigslist, but when one finally surfaced I was willing to pay about $300.
So, Jim, if you can wait for the right buyer who recognizes the real value you can get the best price. Good luck.

View brianinpa's profile


1812 posts in 3145 days

#8 posted 12-21-2010 05:23 AM

The sad truth is that not much of anything is selling real well in the current market. Today it is a buyers market, not a sellers market. Did you get a lot of good use out of the tool? Ask a fair price that you want and wait for the right buyer to come along. The good thing about tools is that you do not have to feed them to keep them around: just give them a squirt of WD-40 every once in a while to keep it from rusting.

-- Brian, Lebanon PA, If you aren’t having fun doing it, find something else to do.

View AjayO's profile


27 posts in 2893 days

#9 posted 12-22-2010 09:16 AM

Current price of similar tool, condition of your tool and then really the supply and demand for it. Craigslist for used tools is one source that I use….carefully. I have seen sometimes posting for tools at higher prices then a brand new one in local stores. I do agree that buying a used quality tool and then keeping it in best possible condition not only makes it fun for you to use but also gets most of your money (sometimes more)! -Ajay

-- - Ajay

View dusty2's profile


321 posts in 2852 days

#10 posted 12-22-2010 04:00 PM

Why are you buying a new and different one? How good did they work when you were using them? How bad do you need to get them out of your space? Do you know and/or care about the person you are selling them to?

Ask for 80% of cost and be willing to negotiate down to “give away – get it outa here”.

-- Making Sawdust Safely

View Jim's profile


38 posts in 2473 days

#11 posted 12-22-2010 10:03 PM

Thanks for all the suggestions. I think I’ll price the Jet to my cousin for half what I paid for it. I would probably try for more to the general public but he is family and we are good friends, also. I think I’ll start at about 60% of the Grizzly and see what happens.

I am selling them because I want to get an Oneida cyclone system, hopefully by the end of next month. There is absolutely nothing wrong with either dc but they are having a hard time keeping up with the tools I have been upgrading to, even though I have a blast gate on every tool. Over the past several years I went from a contractor type table saw to a 3hp SawStop, added a 20” spiral planer, 8” spiral jointer, Jet 22/44 drum sander, and just last week a 19” Grizzly bandsaw, which has two 4” dust ports. You may have seen on another post that I bought (wisely or not) a Grizzly overarm dust collector for my table saw, so it also has 2 4” dust ports now.

I build mostly furniture frames on a part time basis (40-50 hours a month) for couches, love seats, chairs, ottomans, etc. for my son-in-law’s upholstery/custom furniture business. Almost everything I build is out of 5/4 poplar which has to be ripped, crosscut and bandsawed ad nauseum. It really generates the dust. I am very hopeful a 5hp Oneida V system, which is one of few cyclones that will fit under my 8’ ceiling height, will do the trick. It will take slightly more space than one of the dc’s so I’ll gain some wall space when they are both gone. I do have a storage area to put them in for a while, if needed.

-- JimT

View EastLake's profile


46 posts in 960 days

#12 posted 03-13-2014 04:46 PM

So, what does everyone think the going price for Grizzly tools at auction would be. 2003-2005 models.

20” Planer ($850-ish?)
24” sander ($850-ish?)
6” jointer ($220-ish?)
14” Bandsaw (g0555) ($200-ish?)
3HP Shaper. ($600-ish?)

Or am I too low? I am trying to outfit my shop and these are going up for auction soon by the shop I apprenticed in.

-- Mark, Western New York, East Lake Woodcraft

View mahdee's profile


3465 posts in 1190 days

#13 posted 03-13-2014 08:39 PM

Well, if I was near you, I would consider buying them all.


View EastLake's profile


46 posts in 960 days

#14 posted 03-13-2014 09:00 PM

But again, it is an auction. I am curious what a fair price would be?

-- Mark, Western New York, East Lake Woodcraft

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