Neighbor wanting to buy all my woodworking equipment

[Thompmd]

Long story but I’ve purchased a lot of Festool tools, Powermatic HH planer, HH Jointer, Sawstop table saw, Bessey Clamps, Woodpecker accessories etc . 90% was purchased in last couple years and used sparingly as hobby guy in Winter. Example,
Festool Router hasn’t been used.

Trying to get thoughts on values.

Thanks in advance.

 

[ChuckM]

When I sell tools, I usually mark down the prices by 30% or more of the CURRENT retail prices. Festools, I could get away with a 10% - 20% mark-down.

If I'm looking for a second-hand machine or tool, and its asking price is not at least 30% of the new product price, I wouldn't bother checking. I'd buy new as a 10% or 25% discount on a used item s not an enough attraction for me.

 

[RonMiller]

A quick way to get a fairly accurate resale amount is to search "sold" items on ebay that match the item. You'll know roughly if a lot sold or a few and at what average price.

 

[rvieceli]

[member=72021]Thompmd[/member] A lifetime ago when I was in Photo school people would always ask one of the instructors what their gear was worth should they sell. His answer was always "As much as someone is willing to pay for it."

If you were already thinking about getting out of woodworking, then selling your stuff is a reasonable outcome.

Do not discount the fact that selling everything to a single buyer removes a significant amount of hassle and heartache from your experience. This has a lot of value. Especially since they are local and there would be no shipping involved.

It is also something that does not happen very often. I often see ads for "buy everything or nothing" only to see individual tool pricing later on.

You may also be surprised at the amount of money you have spent on the totality, as may your buyer. Perhaps if you have been diligent at keeping records for insurance purposes it may be an easier task to compile a list and place a value.

Prices on just about everything have gone up post COVID. You might be able to get back what you paid for some stuff. Mostly I think a 30-35% discount would be appealing.

Don't forget about consumables and accessories when valuing stuff as well. Clamps, sandpaper, pads, etc. it all adds up

I bought a Powermatic 209HH Planer in 2021 for $4200 that same planer now sells for $6000 not including tax and shipping. If I didn't want it anymore and could sell it for 4500 to 4800 I think both parties could be happy.

Ron

 

[Crazyraceguy]

[member=72021]Thompmd[/member]

Do not discount the fact that selling everything to a single buyer removes a significant amount of hassle and heartache from your experience. This has a lot of value. Especially since they are local and there would be no shipping involved.

It is also something that does not happen very often. I often see ads for "buy everything or nothing" only to see individual tool pricing later on.

Ron

There is also a negative to that. Often buyers who are willing to take an entire "lot" are looking for a discount. They realize that this is way more convenient/simple on the part of the seller. There are also fewer buyers in a position to do that, so the volume-demand aspect kicks in too. The guy who will buy it all at once is more likely to be sorting out the things he actually wants and selling off the rest. He is looking for the best price, to make it worth the effort of handling it all twice.
A guy who already is a woodworker has at least some stuff, which is why most would rather buy it in pieces.

If the "done and gone" is preferrable to the maximum dollar, then sure. It might take longer to find that person, but it might take even longer to sell it separately.

I might be interested in some of the Festool or Woodpeckers stuff, if you would care to share a list?
Maybe even Bessey too, I'm not that far away. But I don't have the need or space for the big stuff.

 

[festal]

Really hard to answer.  From my experience responding to WTB seller usually gets a bit more for the tools vs for sale stuff.  Also depends heavy on your area.
I'm on both sides - as a buyer i look at deals mainly. I don't think i ever paid near full price.  As a seller i look to get as much as possible but also realistic about it.  If item doesn't sell i keep lowering the price until it does. 
Price out all your current tools including shipping and delivery and start with 20% off. See how it goes.  If the buyer says no, then you both need to figure out what would work for each other. 

Selling everything all at once to one signle buyer is very convinient and usually results in lower price for the buyer because of convinience factor.  I'm sure you can get more by individually selling items but that will take significantly more time and effort on your part.  Also don't forget to factor in your cost of time. 
Personally if I would buy entire shop i would be looking to get more then 50% discount otherwise its not worth it for me as a buyer but then again if the person approached you and is interested then he might be willing to pay more. 

 

[fritter63]

Does he really want to do WW? Or just has a lot of money and wants to stop all the noise you've making?  [cool]

 

[Packard]

Find comparables for sale online.  That would be a good reference point.

I bought my neighbor’s radial arm saw about 25 years ago.  He had set it up but never used it.  He wanted $100.00.  I offered $75.00.

I explained that since I lived directly across the street from him, I would know when he was out of the house. Then I could take it for free.  [big grin]

I said $75.00 was cheap insurance to save his garage door from the damage the theft would create.

In any case, try to find comparable items for sale and use that as a reference point.  Also point out all the shipping costs he would save from buying (very) locally.

That said, I have about $60,000.00 worth of photo studio equipment in storage.  The cameras use film.  The studio flashes will not work with digital. 

The only thing that is transferable, is the light stand which cost me 1,800.00 thirty years ago and is still in production at 3,900.00.  But good luck finding a buyer. 

 

[cdconey]

You could always charge list and add 15% buyers fee for doing all of the shopping for him and testing out the tools to make sure they are functioning properly. [big grin]

 

[jeh]

[member=72021]Thompmd[/member] A lifetime ago when I was in Photo school people would always ask one of the instructors what their gear was worth should they sell. His answer was always "As much as someone is willing to pay for it."

If you were already thinking about getting out of woodworking, then selling your stuff is a reasonable outcome.

Do not discount the fact that selling everything to a single buyer removes a significant amount of hassle and heartache from your experience. This has a lot of value. Especially since they are local and there would be no shipping involved.

It is also something that does not happen very often. I often see ads for "buy everything or nothing" only to see individual tool pricing later on.

You may also be surprised at the amount of money you have spent on the totality, as may your buyer. Perhaps if you have been diligent at keeping records for insurance purposes it may be an easier task to compile a list and place a value.

Prices on just about everything have gone up post COVID. You might be able to get back what you paid for some stuff. Mostly I think a 30-35% discount would be appealing.

Don't forget about consumables and accessories when valuing stuff as well. Clamps, sandpaper, pads, etc. it all adds up

I bought a Powermatic 209HH Planer in 2021 for $4200 that same planer now sells for $6000 not including tax and shipping. If I didn't want it anymore and could sell it for 4500 to 4800 I think both parties could be happy.

Ron

Excellent points here especially about the bulk sale to one person. Yes you are going to not get top dollar and it might be the exact amount you want, but there will be relief it is over and you do not have to deal with tire kickers, nickel and dimers, or no shows.

If you were selling the items to different buyers you might consider holding back the consumables to use as a package deal to squeeze a little more out of someone knowing they can start using the tool that day without ordering a bunch of stuff.

Not your case, I think, but as [member=72021]Thompmd[/member] notes some machines are worth more than you paid for them especially the heavy machinery, but even some Festools and even more so if well taken care of.

 

[Cheese]

Excellent points here especially about the bulk sale to one person. Yes you are going to not get top dollar and it might be the exact amount you want, but there will be relief it is over and you do not have to deal with tire kickers, nickel and dimers, or no shows.

Amen...I always seem to get the guy that if I offered up a NEW Kapex to him for $200, he'd scratch his chin, look perplexed and then would very haltingly offer me $175 for it. And if I stood firm on the $200 number, he'd stand around, further examine the Kapex, look like he's still interested and then offer me $176.

For some folks it's about good equipment at a reasonable price, for others it's just the deal and that's where it ends...a deal...kind of like purchasing the wrong size shoes because you couldn't pass up "the deal".

 

[Crazyraceguy]

This all started a couple of months ago, did it ever happen?

 

[squall_line]

Excellent points here especially about the bulk sale to one person. Yes you are going to not get top dollar and it might be the exact amount you want, but there will be relief it is over and you do not have to deal with tire kickers, nickel and dimers, or no shows.

Amen...I always seem to get the guy that if I offered up a NEW Kapex to him for $200, he'd scratch his chin, look perplexed and then would very haltingly offer me $175 for it. And if I stood firm on the $200 number, he'd stand around, further examine the Kapex, look like he's still interested and then offer me $176.

For some folks it's about good equipment at a reasonable price, for others it's just the deal and that's where it ends...a deal...kind of like purchasing the wrong size shoes because you couldn't pass up "the deal".

We had a Kinetico water softener in our house when we moved in (completely unnecessary with our city-provided water). Nobody told us about it, and it was in bypass mode other than the pre-filter, so it just kinda sat there.  When we had the floor drain replaced earlier this year, I had the plumber cut the system out so that I could reclaim some of the space.

I recently put it up for sale on Marketplace for only 10% of original retail price, which I felt was reflective of the unknown maintenance condition as well as my desire to not have it around any more.  Fortunately around these parts, the "tire kickers" rarely bother to make an appointment to show up, and I managed to find a guy who lived out in the country and already had another Kinetico that was 30 years old and on its last leg.  Even if he can only reuse half of the unit, he's money ahead, I'm money ahead, and it's not in my house any more.  That's the kind of deal I like.