Used Tool Prices

[Rich Riddle]

Several sellers on Craigslist are asking 100% of the new price for tools if not a bit more. A man selling some Festool items stated his discount was, "not collecting sales tax." He likely didn't know he didn't have the authority to collect it. Why would anyone purchase used tools when you can simply buy new with a warranty....it's beyond me.

[Christopher Herzog]

New are not in stock and lead time came be 2023. Supply and demand.

[Doug Garson]

How about to save money or to avoid months long waits for availability? I have a modest shop full of tools, most used from Craigslist some new. Never had a tool repaired under warranty or fail in a way that would have been covered by warranty if I'd bought the tool new. Agree that just saving the sales tax (12%) in my case wouldn't motivate me to buy used , having to wait months for a new one might make me look used.
I wonder, other than defects right out of the box (which can be avoided when buying used by testing or just inspecting it), how many on the forum have had tools repaired under warranty?

[Rich Riddle]

New are not in stock and lead time came be 2023. Supply and demand.

Actually, for Festool in this area, we have three dealers with inventory. That's what proved surprising about the sellers wanting full new retail price.

[Rod Sheridan]

I had my Festool MIDI replaced by Festool because the MIDI didn’t have a Canadian electrical approval.

They shipped me a CT26, a box of bags and a handle and I could keep the hose from the MIDI.

They also picked up the MIDI for scrapping……Rod

P.S. not really a defect, just an illegal sake.

[Ken Fitzgerald]

Rich, I quit looking for used tools locally as selling prices at very nearly the new tool retail price was the standard method of operation.

[Mike Kees]

I have noticed slightly higher prices on some stuff locally, but mostly just a lack of tools for sale in general.

[Dave Sabo]

Several sellers on Craigslist are asking 100% of the new price for tools if not a bit more. A man selling some Festool items stated his discount was, "not collecting sales tax." He likely didn't know he didn't have the authority to collect it. Why would anyone purchase used tools when you can simply buy new with a warranty....it's beyond me.

I’m sure you’re aware that “asking price “ and “selling price” are two different things right ?

If the asking price is met, the market has decided that is the price - regardless of what you think or feel about it.

[Paul Haus]

Tools and lumber, both seem to have developed a life of their own. Kind of like auctions I've been to, seen things go for more than new price for a seriously worn or damaged tool.

[Greg Parrish]

Try looking at used sawmills. I’ve watched several sale within a 500 mile radius for double or more the new price. But, they are all back ordered and require a wait for new. Woodmizer is 53 weeks out on many models.

[Andrew More]

Clearly something is out of whack. With the current snarls in the supply line, uncertainty about future prices, and uneven distribution it's hard to say what. Could be the guys selling for "retail" are actually offering a decent price, once things come back in stock with price increases. Could be things will normalize back to normal, or even lower if we get a big enough recession.

What I do know is that I bought a G0490X for ~$1500 in 2019, and it's now about $2100.

With the current tensions between the US and China, and it seems unlike that the price is going to go back down again.

We have similar issues with lumber, at least in the US, since a lot of the low prices had been driven by Canada clear cutting to deal with a bug infestation killing the trees. That seems to slowed or stopped, and prices have been rising as a result.

There is a lot of talk about being "out of everything": steel, aluminum, copper, oil, etc. Hard to say if this is true or not, since the supplies are driven by some very complex systems. Generally speaking the fix for high prices, is high prices as more supply comes on line, but it's usually not quick to happen, and prices are often quicker to move up than down.

[John TenEyck]

Most everything costs more today than a year ago, whether tools, new or used, or food or gasoline. I suspect many of those price increases will stick even after the supply chain sorts itself out, just like prices stayed higher after Europe went to the Euro. Shocks to the norm are opportunities for companies to raise prices, partially to offset increased costs, but to increase profit, too. So you either buy or you don't, simple as that.

On the flip side, if you have tools and machines you no longer use now is a really good time to put them up for sale. I've sold a couple of machines this year. Both the customer and I were really happy with the deal.

John

[John TenEyck]

That guy is out of line. In California you are supposed to collect sales tax on every sale, commercial or not, and send it on to the state. Just like you are supposed to report every penny of self employment income for taxes.
Remember when they could not find a Attorney general who had paid social security taxes for their nanny? After several failures hey went with Jannet Reno who had no children.
Bill D

In NYS the buyer is responsible for paying the sales tax in a private transaction.

John

[Erik Loza]

A increasingly common conversation since the pandemic started:

"Lead time is HOW long??? Thanks but I'll try to find something used. *click*"

6-9 months later: "Hi again. I guess I'll put my order in now... (*audible sigh*)"

Erik

[Charles Coolidge]

Some are asking near retail price in my area, their stuff sits not sold week after week. Increase in retail prices are more of a concern to me, the 3D printer I purchased less than 1 year ago has gone up $2,500 in price