Used Tool Prices

[Rich Riddle]

I read through many sources for selecting used tools. It seems these days that the people selling tools are asking nearly new prices for used tools. Why would they expect people to pay 80% or more for used tools when they could get the new ones for a pittance more with a full warranty? Why are buyers paying such high prices for used tools? One member here was asking MORE than new for a Jet power tool last week. It bewilders me why people try this.

[Ralph Boumenot]

I can't believe what people pay for tools on ebay. I saw a LN block plane, used, that had a current bid $60 more than a new one. I don't understand this pricing neither.

[Charles Wiggins]

I read through many sources for selecting used tools. It seems these days that the people selling tools are asking nearly new prices for used tools.

Why would they expect people to pay 80% or more for used tools when they could get the new ones for a pittance more with a full warranty?

Hoping for a sucker, I guess. PT Barnum made quite a living on that premise.

Why are buyers paying such high prices for used tools?

A combination of ignorance and auction fever I guess. It astounds me that people don't do a little research before they bid or buy.

Years ago I wanted a fitness center quality rowing machine, so I hit eBay looking for used models. The bidding drove every single one up to more than a brand new one, so I finally gave up and ordered a new one from the factory.

I've been to a few estate auctions around here and it is rare that I see things go for a reasonable price. I guess my best deal was a Fein Multimaster for $27.50. Apparently, no one knew what it was. I wasn't even planning to bid on it, but when they only got one bid of $25.00 I just couldn't let it go to someone else that cheap. I hit my bid and there was no counter, so I got it. If I'd been really smart I'd have flipped it, but it had come in handy a couple of times.

[Steve Meliza]

People list at high prices because they either get a sale at that high price or it gives them room to negotiate down. I've actually been on the happy end of listing two items at a high "buy-it-now" price on eBay and had people buy at that price rather than choose to bid $1 and take their chances on an auction. It boggles the mind, but it is what it is and isn't just limited to used tools as Charles mentioned. The up side is that we have an excuse to buy new tools.

[Don Jarvie]

All of these TV shows don't help where people are getting good money for junk so everyone now thinks their junk is worth gold.

[glenn bradley]

Some folks also perpetuate the illusion that older machines, no matter how mediocre they were brand new, are now suddenly better than any of "that TaiChi junk" currently available. We've all seen the handplane handle and frog being sold as an "atique, extremely rare, handplain" (sic), or the "professional" tablesaw that turns out to be a job site saw that has seen better days. All we can do is try to be fair in our own dealings and look for others who are like us.

[Rich Riddle]

Some folks also perpetuate the illusion that older machines, no matter how mediocre they were brand new, are now suddenly better than any of "that TaiChi junk" currently available.

I will rebuild high quality old woodworking machines (OWWM) but simply refuse to look at many because they are simply old. Many domestic tool companies put out junk even back in the day; that's one reason they went out of business. Potential availability of parts also makes one ponder if an OWWM is worth restoring. Many parts exist for old Powermatic and Delta professional level tools but not so much for the Craftsman quality level tools for instance.

I know of few tools made in Taiwan these days. In my experiences Taiwan manufactured many higher quality tools. In reality tools made in any country can be of poor or high quality. Many forget that fact. I am just getting disgruntled in searching for a reasonably maintained and working planer. Sooner or later one will surface at a fair price that is made by a decent quality producer. Until then, we wait.

[Marty Paulus]

I noticed on my local CL that a Rigid 6" Jointer was listed at $1000. I have seen 8" Deltas for less. Not sure what this guy is thinking.

[Gary Max]

I want to know how to find these overpaying folks---- they are never around when I sell tools.

[Damon Stathatos]

I will rebuild high quality old woodworking machines (OWWM) but simply refuse to look at many because they are simply old...

Forget rebuilding them, buy them out of a working shop that's either closing or paring down. Large shops maintain their machines as it's too costly for them to be down. No reason to fool around with graveyard machines when working ones can be easily had at graveyard prices.

[Rich Riddle]

Almost on que, someone is trying to sell a "never used" Lie Neilsen Number 1 plan in the classified section for $200 more than a brand new one from the factory costs.

[Rich Riddle]

Forget rebuilding them, buy them out of a working shop that's either closing or paring down. Large shops maintain their machines as it's too costly for them to be down. No reason to fool around with graveyard machines when working ones can be easily had at graveyard prices.

You have far more faith in the way shop's maintain their tools than I have to say the least. The tools I have purchased in the past with the most need of total restoration come out of "working shops" that either closed or pared down. In my experiences those shops work the life out of tools and use them until they stop and cannot easily be fixed.

[John Lanciani]

Almost on que, someone is trying to sell a "never used" Lie Neilsen Number 1 plan in the classified section for $200 more than a brand new one from the factory costs.

You do realize that that particular plane was a one time collectors piece and not a catalog item don't you?

[Rich Riddle]

You do realize that that particular plane was a one time collectors piece and not a catalog item don't you?

The mere fact that something is labeled as "limited edition" or "special edition" does not make it worth more money. What makes this plane qualitatively different from the exact plane they are selling at this time? In a marketing class, you will be taught this technique to garner more income without more expenses to the company. Many of us drive automobiles that say "limited edition" and indeed few of them are produced in that line yet even if we put them in a garage on blocks we will experience depreciation. I thoroughly understand marketing techniques and economics. This label in and of itself means little to nothing.

[Erik Loza]

In my experience, many folks seem more interested in the idea of "a bargain" than in actually owning or using a tool.

I cannot tell you the number of customers I've talked to who balked at the price of a new machine then later, told me how they bought a used one, but actually ended up paying more for transportation/gas/time and labor, to get it from Point-A to Point-B, spare parts to get it back in shape, etc. Well, they never really tell me they paid more but you can just do the math in your head and figure that fact out easily enough. In other words, there are some folks who get no emotional satisfaction out of just ordering a new machine and as we all know, most of us make our buying decisions based on emotion, rather than need. The excitement of a "bargain" is just irresistible sometimes. Of course, there is nothing wrong with that.

Just an interesting observation.

Erik Loza
Minimax USA