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+-- Thread: Veritas and LN Resale Value (/showthread.php?tid=7231552)
Veritas and LN Resale Value - HomerLee - 02-28-2016
I'm continually amazed at what used Veritas and LN tools sell for:
http://www.ebay.com/itm/272143514537
For that miniscule savings why not buy new without the risk?
Re: Veritas and LN Resale Value - Kansas City Fireslayer - 02-28-2016
How much was saved buying used? 20-25% seems to be the norm. Before the 2008 recession it seemed like very well cared for LN tools demanded 90% of new prices.
Re: Veritas and LN Resale Value - JR1 - 02-29-2016
Not a good deal at all unless there are at least 3 blades with it then it's only marginal. So far as I'm concerned unless the ebay deal is at least 30% of going then I don't bother. Buy new or from a reputable used dealer.
Re: Veritas and LN Resale Value - SteveF - 02-29-2016
I suspect many of those high prices go to overseas buyers who can't buy new.
Re: Veritas and LN Resale Value - Kansas City Fireslayer - 02-29-2016
That was my initial thought too Steve but the seller just listed USA shipping options. You never know though, I've ended up shipping overseas even though I don't like to. I believe they save on the taxes on "used" vs. new. Maybe they had a bunch of Ebay bucks to use as well???
Probably 7-9 years ago MSN live had a promotion for 25% cash back, IIRC, on an approved list of online vendors. Ebay was one of them. I bought a used LN 9 miter plane at the time and MSN live credited my Paypal account 25% of the purchase......those were the days!
Re: Veritas and LN Resale Value - AHill - 02-29-2016
I think it was a good deal. Probably a bit more than I'd be willing to pay for a used plane, but still significantly less than a new one. New, the plane plus two extra blades and fence goes for $412. Sold for $312.55. Add another $15 for shipping (just guessing), and it's still 80% of new. Why does a plane have to be new to work well? Hasn't been sitting in a barn, rusting for 80 years. Lee Valley is still a quite viable company, with stellar customer support, and they are still making the plane plus parts. I'll bet they'd still honor any warranties should anything on the plane fail.
It's likely the buyer knew what the cost of a new one was, so in the buyer's mind, he got a good deal. It's not like he paid more than a new one.
Re: Veritas and LN Resale Value - Kansas City Fireslayer - 02-29-2016
I agree. A $100 savings, or 25%, is significant. If you use your tools they will start to show wear one way or another. I use to get ticked when I'd find scratches in the soles of my LN's but I got over it pretty quick. They still work great which is most important to me. My LN 60 1/2 shows a good amount of use but at least I'm getting my money out of it....
Re: Veritas and LN Resale Value - hbmcc - 02-29-2016
AHill said:
I think it was a good deal. Probably a bit more than I'd be willing to pay for a used plane, but still significantly less than a new one. New, the plane plus two extra blades and fence goes for $412. Sold for $312.55. Add another $15 for shipping (just guessing), and it's still 80% of new. Why does a plane have to be new to work well? Hasn't been sitting in a barn, rusting for 80 years. Lee Valley is still a quite viable company, with stellar customer support, and they are still making the plane plus parts. I'll bet they'd still honor any warranties should anything on the plane fail.
It's likely the buyer knew what the cost of a new one was, so in the buyer's mind, he got a good deal. It's not like he paid more than a new one.
+1
I have another money pit that I also feed. In that hobby, used is nearly half of new--as in, out the door half-price. But it is fashion and style oriented. I would never consider buying its hot items new.
That said, I far more prefer the current state of modern hand tools. It says something very powerful for the quality and durability of those goods. Even the cheap copycats need to produce decently to compete.
Many thanks to LN and LV for holding the standards we value!
Re: Veritas and LN Resale Value - Steve N - 02-29-2016
Have you ever been to an auction? At least here they are paying retail for used LV or LN. I see Crapsman tools go at auction all the time for more than retail, and none of them were that really hard to find XZYZ model.I spend a lot of my life shaking my head in wonderment at what others do
