Disposing of Tools.... - Router Forums
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post #1 of 7 (permalink) Old 12-20-2015, 02:23 PM Thread Starter
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Default Disposing of Tools....

The recent thread here, "Opportunity(For me) Knocks...", see -- http://www.routerforums.com/lobby/83...me-knocks.html -- is a subject that we and or our spouses and heirs will be faced with.

On Wood Net Forums, there is a similar thread about placing a value on and selling "estate" tools. Might be of interest and/or help to some of us. See: "How to figure resale value of power tools, etc.?"

http://www.forums.woodnet.net/ubbthr...1&vc=1]WoodNet Forums: How to figure resale value of power tools etc.?

Just might be uncomfortable for some to think about, but like having a trust and will, such documents will be appreciated by your spouse, executor/executrix and heir(s)....
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post #2 of 7 (permalink) Old 12-20-2015, 05:36 PM
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It is an issue quite a few of us are starting to become aware of. Neither my son or son-in-law have the room for any of my big tools, even if they were interested, plus a few of them are 200volt which would rule them out entirely. It would be a good idea to discuss this issue with the significant other for sure.

One comment on the link that "my biggest fear is that my wife will sell them for what I told her they cost" was good for a laugh.
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post #3 of 7 (permalink) Old 12-20-2015, 06:20 PM
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From Charles..."One comment on the link that "my biggest fear is that my wife will sell them for what I told her they cost" was good for a laugh."

I value my integrity, it's one of the best values i can demonstrate for my sons. But...i gotta say that i resemble that remark!!

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post #4 of 7 (permalink) Old 12-20-2015, 07:07 PM
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So true...we try to anticipate for all our other valuables...why not our tools...

Great thought, Ray...

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post #5 of 7 (permalink) Old 12-21-2015, 12:24 PM
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Having died once already, this has become real as an issue for me. Just learned that my daughter in law and her husband love our house (very much improved with a one acre backyard forest). They would like to move in at some point, which means my shop full of great tools will become theirs. No moving or sale required. However, it is always a good idea to take a video of every tool and item in a shop and assign a value and model number information for home insurance purposes. I kept all receipts in a box in the shop, but realized it needed to be stored elsewhere. Walk around with a video camera and talk it through, which is perfect for insurance purposes. Thanks for posting this.
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post #6 of 7 (permalink) Old 12-21-2015, 08:49 PM
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Take them to a Pawn Shop and whatever they offer, double the price and you have a pretty good idea what they are worth.

The definition of insanity is doing something the same way and expecting a different result. Albert Einstein
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post #7 of 7 (permalink) Old 12-24-2015, 12:06 AM
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Interesting discussion. 2 years ago I was faced with selling off my Brother-in- laws shop. I made a detailed spread sheet of all the tools, looked each up on the internet and calculated the overall value. One neighbor offered to buy the entire shop at 50% face value but the estate sales agent said NO. They wanted the shop included in the package. In the end the itemized sales summary netted out at 65% of the new price. Not surprising as the majority of the tools were less than 2 years old. Had I not had a duplicate of virtually every tool in there I would have gladly bought them myself.

In the end the value is between the seller and the buyer and an honest statement can make the day.
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