Pricing Dad's Shop Tools

Gaijin Daiku

Member
Joined
Dec 26, 2009
Messages
53
Dad passed away recently; much as I would like to pack up the shop and move it from Wichita to Philadelphia, that is not an option.  I am the point man for selling his stationary machinery--Powermatic 3HP table saw, Delta 14" band saw, Delta stationary belt/disk sander 31-735A, & Delta drill press 17-900.  All are about 20 years old and have been in a home shop.

Over the years, I've understood that generally speaking approx 1/2 of retail is a standard price for machinery.  While I work on pricing these tools, I would be grateful for forum members' experiences RE: pricing, both buying and selling.  Yes, I have already been researching Craigslist and eBay.

Words of wisdom from experience would be appreciated.

Thanks.

Bruce

 
First of all, sorry about your dad.  I have been through this and know its not easy.

I agree that 1/2 of retail is a fair price.  I have bought and sold lots of equipment at that price.  I have never had any trouble selling a tool at half price, though they may not sell right away.

Some suggestions for using Craigslist:
take plenty of pictures, they help enormously.
If you have an item that is in high demand, and you probably will, you may get several people interested who want to come at different times.  Decide ahead what you will do, I usually tell everyone that I will sell to first one who shows up with full price cash.  Tell them whether you will be able to let them know whether it has sold before they come.
If the tool has flaws or needs work, show that in a picture and explain in text.  Much better to get that in the light right away, no surprises.  Be prepared to come down a little if the flaw is serious, not so much for cosmetic flaws.
Say whether you can transport the tools or whether the buyer needs to do this himself.  Many sellers will pay extra if you transport.
Decide whether you will take checks.  I have never had a problem, but there is always a first time.
Plan ahead, get your pictures ready, draft the text so you can cut and paste when its time to post the ads.
Buyer's interest starts to peak on Friday here, stays strong thru Saturday, then declines, may be different in Wichita.  Place your ads Friday morning.
More upfront work, but if possible, break major pieces of equipment down into individual ads, so you can delete the ad and stop the calls on that item.

Most of all, think about what is important here.  If the most important thing is to sell everything quickly, price it accordingly.  If its important to get the most money for the tools, price according and plan to be there a while.

Mention that you are helping sell your late dad's tools.  Many buyers will resist trying to cheat a widow (but not all).
Lump small stuff together, e.g. "a bucket of screwdrivers for $$" to make them move faster.

Be sure to mention if you have user manuals, accessories, etc.  that will help the sale a lot.
If you are basing the price on an online retail ad, put the link in the ad - makes the price real and you get extra advertising verbage.

This may sound silly, but keep good records.  If the sale is busy, its easy to sell something twice (don't ask me how I know that).

Consider taking smaller, niche market stuff back home with you.  For instance, my local area is a poor market for Festool, but it sells well on FOG classified or EBay.

Hope this helps, best of luck.
 
Bruce

First of all, my condolences.

Jesse certainly has great advice. 

If you want to really speed things up, and the money you might get from the tools isn't worth the bother and time required to sell them, you might consider a donation of your father's workshop to the local Habitat for Humanity.

Jay
 
Jay,

We've considered donation, but had not thought of Habitat. 

Thanks for the suggestion.

Everyone else--

I've had a few inquiries fro F.O.G. members and feel I should update:

The stationary sander and drill press are sold.

I really appreciate the kind words, advice, and interest.

--Bruce
 
Back
Top