I have an opportunity to buy the following used tools. I would like to know:
1) What is a good price for me to pay for each tool
2) Is there any reason to avoid a particular make/model
Assume all are in good working order. The tools are several hours away from me so I have not seen nor tested them yet.
Those are all quality tools, generally on the 2nd hand market I look to start at 50% of retail. If the tools are exceptionally fine then I may go more, but if you're considering buying several of them then I would go sub 50% because you're helping the seller. Everything depends on the circumstances of the sale and their motivation to sell.
I wish half price was the case near me. I see the ridged 6" jointer going for $450-500 used all day. They do stay up for sale a long time though.
- Monty151
I'm with AG- unless they've had a rough life I'd say more like 75% of new. Now if it's a situation where a widow is selling off a shop full of tools that could go either way. If it's the guy who purchased them either upgrading or getting out if it they usually want top dollar.
Most people use the 50% rule of thumb… unless the machines are extremely old, I use a 10-25% rule of thumb, particularly sight unseen. That Bandsaw is worth maybe $100, and same with the jointer. Dewalt planer maybe $75 if in good condition. Dust collector is worth maybe $75 as well, and the rest of the stuff combined would be about $100. YMMV.
And you will typically get an additional price break when purchasing multiple machines… the 'combo' deal So, IMO, I would offer $400 and I wouldn't pay more than about $450 for the lot.
I'd go a little higher than Brad on each tool. The dust collector has a canister filter, so I'd pay closer to $150 for that if it works well. I'd start around 1/4 to 1/3rd the new price for each item and negotiate from there. If it's a package deal, I expect to pay less than if I were buying individual pieces.
I sold that mortiser for 200 a few months ago.
Jointer is easily 250. I sold my older grizzly for 250 a few months ago in MO.
Tenoning jig maybe 50
Planer about 125
Don't know about others
In my area, used tools that I would never consider buying because of their condition go for stupid money. I just sold a Ridgid 6" jointer for $350. It looked and ran like new and I had 3 sets of new blades that went with it. I probably sold it to cheap, because I got 15 calls in 4 hours after I posted it on Craigs List.
When the guy came to pick it up, he gave me an extra $10 because it was so clean and he knew he got a good deal.
Pricing estimates on used woodworking machines are like Blue Book listings on automobiles. They are guidelines! If you want a good deal, plan to do your "homework" (study comparables), and thoroughly check out the merchandise.
You will certainly want to determine how much those tools or their equivalents would cost today and use that as a guide. Where I live, you will seldom get a tool in good shape for as little as 50% of new but you might get lucky. If you are talking about cabinet saws, it is almost always a better deal to buy new from Grizzly or elsewhere.
Most people use the 50% rule of thumb… unless the machines are extremely old, I use a 10-25% rule of thumb, particularly sight unseen. That Bandsaw is worth maybe $100, and same with the jointer. Dewalt planer maybe $75 if in good condition. Dust collector is worth maybe $75 as well, and the rest of the stuff combined would be about $100. YMMV.
And you will typically get an additional price break when purchasing multiple machines… the combo deal So, IMO, I would offer $400 and I wouldn t pay more than about $450 for the lot.
You would't be buying any used tool in my neck of the wood at those prices
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