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+-- Thread: Pricing Used Tools (/showthread.php?tid=7114038)
Pricing Used Tools - daveferg - 10-07-2015
Need to be thinning out my shop in the next year or so because of a pending move---reason a story for another day---I don't want to get old!!!
Anyway, it's been a rule of thumb to price a used (large) stationary tool at between 50-60% of it's original value.
My question----since some of my tools now sell for considerably higher prices than what I originally paid----which price do you think you should use----the original or the current?
Thanks
Re: Pricing Used Tools - DieselDennis - 10-07-2015
daveferg said:
Anyway, it's been a rule of thumb to price a used (large) stationary tool at between 50-60% of it's original value.
My question----since some of my tools now sell for considerably higher prices than what I originally paid----which price do you think you should use----the original or the current?
I'd start out at 50%-60% of current advertised value. I mean this is what people have to compare it to, right?
Outside of sawstop, nothing has really changed in large stationary tools in the last 50 years (guesstimate).
The latest prices are just inflation, no reason your selling price can't inflate too.
Re: Pricing Used Tools - jteneyck - 10-07-2015
I doubt you will get 50% the price of a new machine if your machines are more than 10 years old or so. Not many older Unisaws sell for $1500+. $600 - $1200 is more the norm, which sounds more like maybe 50% of what they sold for new.
John
Re: Pricing Used Tools - daveferg - 10-07-2015
Thankfully, my Unisaw won't be on the "block". Though I think all big iron tools took a pretty big jump about 4-5 years ago.
I don't think age of the tools is that much of an issue as the ones I'm thinking of selling haven't been used all that much or alternative methods can take their place.
Re: Pricing Used Tools - jussi - 10-07-2015
I've bought and sold lots of things on Craigslist and don't really go by the the whole 50% off retail philosophy. Well not anymore. I really think it depends on the area and the tool. If it's a tool I'm not familiar with in terms of going price is I will look up current ads on Craigslist or past ads on eBay or forums. I'm usually not in a hurry to sell so I'll start with a higher end and slowly lower the price until it sells. Be careful about following craigslist guidelines on posting though. Break them too often an you will start to get people reporting you to craigslist and possibly have your ip banned.
Re: Pricing Used Tools - daveferg - 10-07-2015
Thanks Jussi----my experience with Craig's List has been very good. I've found either you sell the item within the first week or two, but longer and even dropping the price won't help.
Another aspect of pricing is I generally have all accessories and owner's manual, etc.
Re: Pricing Used Tools - Herb G - 10-07-2015
You would be in Cali.
Re: Pricing Used Tools - daveferg - 10-07-2015
Herb G said:
You would be in Cali.
Sorry---yes!
Re: Pricing Used Tools - Robert Adams - 10-07-2015
No real rule of thumb. Just see what things are going for overall. Here most big tools start at 110% of new price or higher...
Re: Pricing Used Tools - packerguy® - 10-07-2015
daveferg said:
Need to be thinning out my shop in the next year or so because of a pending move---reason a story for another day---I don't want to get old!!!
Anyway, it's been a rule of thumb to price a used (large) stationary tool at between 50-60% of it's original value.
My question----since some of my tools now sell for considerably higher prices than what I originally paid----which price do you think you should use----the original or the current?
Thanks
Dial up craigslist with a 500 mile radius. Hit the middle.