Wood rich and cash poor

[Mike77]

I found a bunch of walnut on craigs list a while back. The person who had it didn't really know what he had. He said he thought it was about 200 board feet. He wanted $200 for it. I couldn't pass it up so I snatched it as fast as I could. Its really old not sure how old. But it top condition. It was stored inside. Its all cut from the same tree and I got the cores too. The best boards are 14" wide, 12 ft long and 6/4. It turns out that, not including the cores its about 540 board ft. Its all heart wood, no sapwood or live edge. The local lumber store charges $9.40 per board ft for 4/4. So I figure, if I wanted to buy this load if would cost me over $5000. However, having $5000 worth of wood and having $5000 is two completely different things.

I don't work with walnut. What I mean is, I have no projects on my list that use walnut. I'm not sure I will very soon. I can't bring myself to cut up these thick, long, wide, beautiful grain matched boards to make boxes. Or smaller projects. I think I should sell them, but I don't know how or whether I should ask a premium price for this premium material or a bargain price to get rid of them.

Its a dilemma.  Anyone have any thoughts?

Oh yeah, if anyone thinks I should send it all to them to relieve myself of this terrible burden, that idea has already been expressed by a few people. 

Thanks,

Mike

[Strokes77]

I found a bunch of walnut on craigs list a while back. The person who had it didn't really know what he had. He said he thought it was about 200 board feet. He wanted $200 for it. I couldn't pass it up so I snatched it as fast as I could. Its really old not sure how old. But it top condition. It was stored inside. Its all cut from the same tree and I got the cores too. The best boards are 14" wide, 12 ft long and 6/4. It turns out that, not including the cores its about 540 board ft. Its all heart wood, no sapwood or live edge. The local lumber store charges $9.40 per board ft for 4/4. So I figure, if I wanted to buy this load if would cost me over $5000. However, having $5000 worth of wood and having $5000 is two completely different things.

I don't work with walnut. What I mean is, I have no projects on my list that use walnut. I'm not sure I will very soon. I can't bring myself to cut up these thick, long, wide, beautiful grain matched boards to make boxes. Or smaller projects. I think I should sell them, but I don't know how or whether I should ask a premium price for this premium material or a bargain price to get rid of them.

Its a dilemma.  Anyone have any thoughts?

Oh yeah, if anyone thinks I should send it all to them to relieve myself of this terrible burden, that idea has already been expressed by a few people. 

Thanks,

Mike

Selling things is always a question of what is your time worth.  If you are interested in Maximizing profit, sell it board by board, over time, at a premium.  If you need it gone, find someone to give you 5x what you paid for it, and move on.  To compromise, blow out half of it, keep the rest to sell over time.  

Or, do as most do.  Hoard it forever.

[fredhargis]

Well, I'd keep it..but everyone's perspective/situation is different.

[packerguy®]

I found a bunch of walnut on craigs list a while back. The person who had it didn't really know what he had. He said he thought it was about 200 board feet. He wanted $200 for it. I couldn't pass it up so I snatched it as fast as I could. Its really old not sure how old. But it top condition. It was stored inside. Its all cut from the same tree and I got the cores too. The best boards are 14" wide, 12 ft long and 6/4. It turns out that, not including the cores its about 540 board ft. Its all heart wood, no sapwood or live edge. The local lumber store charges $9.40 per board ft for 4/4. So I figure, if I wanted to buy this load if would cost me over $5000. However, having $5000 worth of wood and having $5000 is two completely different things.

I don't work with walnut. What I mean is, I have no projects on my list that use walnut. I'm not sure I will very soon. I can't bring myself to cut up these thick, long, wide, beautiful grain matched boards to make boxes. Or smaller projects. I think I should sell them, but I don't know how or whether I should ask a premium price for this premium material or a bargain price to get rid of them.

Its a dilemma.  Anyone have any thoughts?

Oh yeah, if anyone thinks I should send it all to them to relieve myself of this terrible burden, that idea has already been expressed by a few people. 

Thanks,

Mike

Nice problem to have. 

But back in reality, you have nowhere near 5k worth of lumber unless your planning on spending years selling 4-5 boards at a time to tons of buyers that are picky. At the end the day, time is worth much much more, IMHO. Nobody is going to be buying in bulk anywhere $9/ft....let alone half that. I buy air dried walnut, and will never look at anything north of $3.50/ft and less than 200 bf. 

At the end of the day, I love walnut. One of my favorite woods to work, but when people expect $5 or more a foot, I can but some exotics like Purpleheart or African Mahogany for that ballpark. 

But you never know. The guy selling might have not know what he had (or just realized it wasn't worth his time anymore) and there are buyers that don't have a clue either. Put 20 bf up on craigslist for $5 and I bet some guy that buys oak at the borg for $5 a foot will jump on it. 


Or you could just keep it and use it and not worry about cutting it up. 

[loosetoe]

Nice problem to have. 

But back in reality, you have nowhere near 5k worth of lumber unless your planning on spending years selling 4-5 boards at a time to tons of buyers that are picky. At the end the day, time is worth much much more, IMHO. Nobody is going to be buying in bulk anywhere $9/ft....let alone half that. I buy air dried walnut, and will never look at anything north of $3.50/ft and less than 200 bf. 

At the end of the day, I love walnut. One of my favorite woods to work, but when people expect $5 or more a foot, I can but some exotics like Purpleheart or African Mahogany for that ballpark. 

But you never know. The guy selling might have not know what he had (or just realized it wasn't worth his time anymore) and there are buyers that don't have a clue either. Put 20 bf up on craigslist for $5 and I bet some guy that buys oak at the borg for $5 a foot will jump on it. 


Or you could just keep it and use it and not worry about cutting it up. 

I realize packerguy's advice may not be what you want to hear, but it is exactly correct.  
The good news is...that is SIGNIFICANTLY more than you paid.

[Admiral]

Nice problem to have.  I'd suggest making more stuff out of walnut!  

[Mike77]

Definitely, that's why I said, having $5000 worth and having $5000 is not the same. I cannot imagine spending $9 a board foot. Just a couple years ago it was $6. In Montana, the price is much higher than nearer the hardwood forests, but $9? That's the rub, to sell the lot would require someone needing a large amount of wood for a specific project, very limited possibility. And usually a commercial buyer who has better options. To sell it piecemeal is more work that it is worth. I guess what I need is a project. Maybe I need to look as some bucket list project. Some antique reproduction.

[Richard D.]

The person who had it didn't really know what he had. He said he thought it was about 200 board feet. He wanted $200 for it.....................

Its a dilemma...........

He knew what he had, and now so do you. 

[ianab]

You don't have to spend the next year selling it board by board for a premium (probably not worth your time or the hassle) OR give it away. 

Personally I'd sort out ~400bd/ft and price it sensible to sell ($3-4 a bd/ft ? ) That's over $1000, they take the whole stack, and you keep a few boards, best and worst? Keep the best ones, just because, and the ones with any sort of defect, you can happily saw up to make smaller projects. 

Sure someone gets a decent deal on some good walnut, and can use the wood. And you still make a good profit, and get your storage space back. 

Problem solved.

[cvillewood]

I’d agree that the $5000 valuation is more like $1500.

Why don’t you offer a few lots for sale for members here that might be local and/or on CL?