First Post - Question about a fairly substantial purchase from an individual

[joetucker]

I've enjoyed lurking here for quite some time - you guys have provided a wealth of knowledge as I've worked through how Festool gear might supplement my growing woodworking hobby and it is much appreciated.

I've run across an opportunity to purchase a series of tools (a CT, MFT, Domino, Router, Jigsaw, and two sanders plus accessories) from a local individual who has had everything less than a year - all of them have either never been used or very lightly used.  He is providing the original purchase documents. All told - the 'retail' on this stuff is about $5,700.

Question - what would be a reasonable price to pay considering their condition? Mainly I'm trying to get a percentage range of what would be a lousy, good, or great deal.

It seems like most Festool stuff holds it value very well (especially if it hasn't been used much). 

Thanks in advance for the help.

 

[c_dwyer]

Hi Joe, and welcome.

I'll take a first crack based on my extensive trolling of CL far and wide for items I'm in need of, and those I'm just a spectator on. Based only what I've seen advertised in the northeast, many people fall within the 10-15% range of the new price for Festools in great shape.  So if you could get that, I'd feel okay with the purchase. My other hobby seems to be making copper wire out of pennies, so if I could do better than that, I'd be pretty excited.  Others may feel differently, so hold out for more input.

C.

 

[AlexThePalex]

If it's only a year old and hardly used I might give 70% of new price. Perhaps 75% if I'm really tempted.

I have learned on this forum people in America are prepared to pay even more, like the 10-15% off mentioned above, but I would never do that, I mean, that savings margin is so small I think you're better off shelling out that little bit of extra money to be the first original owner.

I only buy used if the money saved is significant.

 

[Corwin]

If it's only a year old and hardly used I might give 70% of new price. Perhaps 75% if I'm really tempted.

I have learned on this forum people in America are prepared to pay even more, like the 10-15% off mentioned above, but I would never do that, I mean, that savings margin is so small I think you're better off shelling out that little bit of extra money to be the first original owner.

I only buy used if the money saved is significant.

And the full 3-year warranty.

20% off retail is more like it.

 

[waho6o9]

"I only buy used if the money saved is significant."

Agreed. 

Which jigsaw is it?  The Carvex may or may not have issues.

 

[joetucker]

"I only buy used if the money saved is significant."

Agreed. 

Which jigsaw is it?  The Carvex may or may not have issues.

It's the barrel grip Trion saw. 

Thanks for the replies so far.  Will be interested to get any additional feedback.

 

[Grasshopper]

Regardless of the brand, whenever I shop for used stuff, I look at Ebay.  You can search the specific item, and check "Completed Listings" and "Sold Listings".  If there are enough comparable sales of a given item, you can have a basis for used sold value.  I've even brought printouts of what comparable items have sold for to sellers for discussion when I make my offer. 

I'd never pay 90% or even 85% of retail for any electronic item.  At that range, you might as well buy new and have the full warranty.

One benefit of Festools is the transferable warranty, which I'd suspect helps keep resale up.

 

[deepcreek]

I'd expect to pay 70 to 80% of retail for what you are describing.

Anything less on "like new" Festools with 2-years warranty remaining is a great deal.

 

[mrboult]

On eBay - Festools in good condition, with warranty remaining, tend to go for 80% of the new value.

I wouldn't pay that myself on eBay, but in your situation, knowing the seller, receipts included, and warranties of over 2 years remaining, I think 80% would actually be acceptable to me. 

The 20% difference on a single tool isn't much, but on thousands £ worth of kit the savings become huge.

 

[SS Teach]

I agree with many who have posted, if you're price is 10%  to 15% less than retail buy new and get 3 years warrantee. Festool makes great tools but once in a while something goes wrong, just look at the problems section of FOG. Go for 80 % and make sure everything works as advertised. I would strongly advise you to decide what your upper limit is before you negotiate a price. Not only do you want to buy but he wants to sell. Good luck in what ever you decide. 

 

[Holmz]

The tools have the value that you assign to them.

Some tools are worth it and some are not.
Just because it says Festool does not mean that the tool is good.

I bought a p1cc because I would not take a risk in a carvex.
And I bought a used DX93 for more than I wanted because they are discontinued and worth it to me to have it.

If you do not know what the tool is, nor what it is used for, you probably the ideal buyer from the seller's PoV.

 

[NL-mikkla]

I'm with Alex on this one, which is fairly common here I guess.
Let's start on 4000$ in cash, for the seller hard to resist that amount of money in cash since he wants to sell.

 

[rvieceli]

I'm with NL-mikkla - $4000 seems like a good deal.

You have the advantage of being willing to buy the lot. It is sometimes difficult for a seller to sell stuff in a package deal.

what ever you decide, please take pre-cautions during the transaction. that is a chunk of cash and sometimes the bad guys try these deals. Public place, don't go alone etc. etc.

 

[Grasshopper]

OK, I thought I'd chime in here again.  Something that I probably like even more than Festool is negotiating (hey, everybody needs a hobby).

Like most have said, you should have your top number in mind.

When I am buying anything used, i prefer to ask the seller for what he wants first (rather than make your offer).  You never know, and he could offer the lot to you for a much lower figure than you were willing to spend.  I call that a win-win when the seller's happy, and you are happy too.

If the seller states a higher number than you budgeted, you are now in a position to offer your price.

My two cents...

 

[Kev]

If it's a negotiation, I'd start at 50%.

You're saving them a lot of hassle involved in individual sales.

60% at best.

You also need to be certain that every tool is exactly the one you want .. Take one tool out of the mix and it isn't as attractive!

Also - on accessories, are they the ones you really want? - same "is it really a bargain for me" factors apply.

In Oz is is incredibly rare to find a real second hand Festool bargain, so I simply don't been bother!

Based on the detail you're providing on the tools and considering US prices $5.7K seems a lot! I'd need real detail to comment further.

 

[Peter_C]

Purchasing 101:
Pick a price that you are willing to pay. Start far lower than said price. Lets use $1000 that you are willing to pay with seller asking for $1400. You start at $800 and work your way up, and of course you will settle in the middle. The seller will counter with $1200, and you come back with $900, for which the seller will counter with $1100 and you agree to meet them in the middle at $1000. You may have to stand your ground. Or maybe pay what they want but get them to throw in all kinds of stuff. Like a drill press, or other shop equipment not branded with Festool.

First of all you are purchasing a bulk lot which means BIG discount!

 

[Kev]

Purchasing 101:
Pick a price that you are willing to pay. Start far lower than said price. Lets use $1000 that you are willing to pay with seller asking for $1400. You start at $800 and work your way up, and of course you will settle in the middle. The seller will counter with $1200, and you come back with $900, for which the seller will counter with $1100 and you agree to meet them in the middle at $1000. You may have to stand your ground. Or maybe pay what they want but get them to throw in all kinds of stuff. Like a drill press, or other shop equipment not branded with Festool.

First of all you are purchasing a bulk lot which means BIG discount!

The Monty Python (Life of Brian) haggle instructional ...

 

[Df1k1]

I've never had that good of luck buying used tools.  That said, I wouldn't pay more than 65-70% of retail.  Not to make light of it but you're already paying a substantial amount of money to buy a used product.  To me, barring an "incredible" deal ( ie under 65% off for a barely used tool) I'd rather pony up the extra for the warranty and peace of mind.  Especially if I wasn't that familiar with the product.

 

[GregBradley]

It is worth 70-80% of new IF it is a tool that you want AND it is the version that is currently sold. If you are buying the whole lot, then maybe it is discounted a bit below that as they don't have to work selling individual tools. Don't forget, you are saving the sales tax, which is substantial in some areas.

It only has two years of warranty left IF it was registered and the warranty transfers. Check that out first, don't assume. Don't forget you are losing the 30-day no questions asked return policy by not buying new. The truth is that most used Festools sell for more than is reasonable by someone that is not thinking it out completely.

 

[CrazyLarry]

As others have mentioned you are potentially losing a lot (30 day return / proportion of warranty) also do bear in mind that if you were buying multiple items from a dealer you would be most likely making savings and / or picking up "free" accessories for example extractor and TS sets often have multi rail / railbag / clamps etc where those accessories rapidly add up as in 100s of savings! Same goes for accessories / consumables boxes with domino / jigsaw / drills they aren't trivial so if you're going to have to buy them or they are not being included you need to take count of that. Conversely if you're getting a couple of boxes of jigsaw blades, some quick clamps and a box of dominos then the deal is better than you think!

Otherwise make sure you have all receipts and maybe call the dealer on at least one item or have the seller show you his myfestool page?