How to figure resale value of power tools etc.?
#21
Richard D. said:


My biggest fear is my wife will sell my tools for what I told her they cost.




Truth
Worst thing they can do is cook ya and eat ya

GW
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#22
Good suggestions here.

Clearly a well advertised auction is best if there's enough stuff to make it worth the auction company's time. It is one long ordeal of work prepping for the one day event, but it can be worth it.

When researching prices on eBay and CL, look for old listings or buy-it-now prices. The value of that type of pricing information will tell you what they didn't or won't sell for. Overpricing things up front will chase away the best potential buyers.
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#23
Sawstops sell for about 75% of retail. Everything else, figure about 50%. I had a list of my tools, description, serial number, retail (as of xx/xx/xxxx date) & a reasonable sell price.
My Day Job
well, bye.
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#24
I use the eBay "sold" feature to assess the value of my tools.

Go to eBay; do a search for the tool you want to value (say my Domino 500) - bring up the results. Then go to the left hand side of the web page, scroll down to the last line and it has a check-box "Sold Listings" - click it and previous listings that have sold will come up that include the price it sold for, shipping charges and the date it sold. If you click on the "sold" ad you can see the location of that sold item also.

For my tool spreadsheet, I simply average the "sold" prices over the last year and use that for my current value of the tools on my spreadsheet. I throw out any that are "brand new with warranty" and any that have pictures that look like the tool was not taken care of, abused, drug up from the bottom of a lake.

I do this because my wife, daughter and son-in-law wouldn't have a clue of what price to ask for each of my tools - and if I go they'll not be in the right frame of mind to research and figure an asking price. It's also a good idea to have an inventory for insurance purposes.

Hopefully I'll keep updating my tool spreadsheet with new tools for my shop for a long time before the spreadsheet is needed.
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#25
determining value can be difficult.
only suggestion i have is when its time to sell, determine what price you will take, then advertise at a higher price so theres bartering room.. theres been a few times jve done that and actually got more than i wanted.
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#26
I've told my wife to keep anything she wants if I croak first. Then have a yard sale and take whatever is offered. Or just keep it and unload everything in an estate auction and the proceeds after auction fees go to the kids.

I'm dead, what do I care? I would like to make sure my antique tools stay in the family (many were Dad's and his Dad's) or get sold here in swap and sell. The Christmas auction would be a great place.
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#27
Snipe Hunter said:

I would like to make sure my antique tools stay in the family (many were Dad's and his Dad's) or get sold here in swap and sell.


I've got a few like that, especially my Delta 1460 lathe, which worked in the war plant my grandfather worked in, then followed him home. Four generations have turned on it, and hopefully a grand kid or two will use it, too. So I'd like it and a couple of other things to stay in the family if possible.

I've been thinking about the end of the road more than usual lately (not for any reason - just getting less young is all), so maybe it's time to build a spreadsheet and put some pricing in for DW and/or my boys.
Tom

“This place smells like that odd combination of flop sweat, hopelessness, aaaand feet"
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#28
I took my Wife through the shop, and she made a list of the tools/machines, and the price I gave her. She updates the list periodically.
She knows what the machines are, but doesn't use them.
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#29
There are cases where WoodNet members assist the widow(s) in those cases.

I recall one instance where a member traveled at least two weekends at a 400 mile round trip to catalog/process the shop/equip.
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#30
I will be dead, so I don't care what she sells them for. Owning a construction company and having a fair amount of tools, the difference between top dollar and bottom dollar isn't going to make much of a difference. even if we say a 10k difference, not going to matter much at that point.
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