Tool appraisal team

[Cal Noguchi]

I recently formed an “Appraisal Team” for our local woodworker’s guild. The purpose of this team is to aid in the assistance of someone who has lost a loved one. The loved one, like us, owned tools and shop equipment. Our goal is to give the family an idea of the values of these items, so that they are not taken advantage of, in reselling the tools.


This exercise has taught me a few lessons that I would like to share with you:

• After buying a tool make a copy of your receipt (since the receipt often fades away)
• Attach a copy of the receipt with the tool’s documents – in reselling a tool the buyer appreciates documentation (preferably in a plastic bag).
• Either keep the documentation all in one place or attached to the equipment.
• Try to keep your shop organized in a logical fashion (e.g. router bits in or near the router table).
• Put notes on tools that you plan to have fixed or are no longer working.

What other suggestions do you have?

[Ellen Benkin]

The Tool Appraisal Team is an excellent idea and kudos for you for helping out in a terrible time.

I keep my receipts with my manuals in a couple of files -- large power tools, small power tools, and hand tools. I also write the serial number in the manual. I do these things in case of burglary but they would be helpful if anyone had to sell my tools.

[Mike Henderson]

For smaller tools, such as chisels, planes, etc., it would be nice if the team would list the items on eBay, with the proceeds (less expenses) going to the heirs. What you get on eBay is the definition of "market value". The important value the team would provide is an accurate description of the tool.

For big items, such as a table saw, miter saw, etc., you probably need to sell locally so an appraisal like you describe is very appropriate.

Mike

[Dan Friedrichs]

I've heard of people doing something similar in one of my other hobbies (amateur radio). In doing that, I've heard many stories where the person who inhereted the equipment later felt "ripped off" when they sold the equipment to friends of the deceased. They probably weren't really taken advantage of, but rather just unclear that used value does not equal new value.

I'd caution you to do nothing more than "appraise". No buying.

[Cal Noguchi]

Dan

Good point! We did talk about the fact that our appraisal could get us into trouble (since it's all subjective) and therefore, contrary to our name, we will not be appraising items. We will research the items and let the family know what price we have found for an item and whether it was a new price (as in catalogues or internet listings) or a used price (as in craigslist). The family could then place a price on the item based on our findings. However, if asked, we would give our opinion on a listing price.

[johnny means]

I would rather let some enthusiastic young upstart get all my tools at some unbelievably good price. Obviously, my family didn't need the money or I would have have already sold the stuff. If no one in my family wants my tools, why not let some stranger "inherit" them. We all love a good gloat, why not pay it forward.

[Mark Woodmark]

Great advice. I would add that I scan all my sales receipts, manuals, etc and store them on my computer and my flash drive. I also have pictures of all my tools stored on the computer and flash drive.

Where do I get a job as a tool appraiser, it sounds like fun?

[Tom Welch]

You mean we cann't take it with us? !!!!!!!!!!!!!!!!!!!!!!!!!!!!