[rrrun]

I'm in the market for a Jet 6" Belt Sander and a Jet Spindle Sander. Soon.

I've been haunting Craigslist for a while, looking for a deal. I can be patient.

Sometimes.

Yesterday, a guy that lives 30 miles away posted *both* of these tools for sale, saying they were in "almost new" condition. There was a big catch, though: he wanted $650 for the JSG-96 Belt Sander (vs. $715 on Amazon) and $600 for the JBOS-5 Spindle Sander (vs $490 on Amazon). Uh....

I wrote him of my interest, and suggested that his price on the Spindle Sander might be out of whack. He responded that he had a LOT of sanding sleeves for the unit that would be included, so the price was right. "Accessories cost a lot," he said.

I will not be buying these tools from him, even though he did offer $1,100 cash if I bought both. No, thank you.

Here's the question: what is your assumption on what a used tool should cost? FWIW, I think 50% is fair in most cases for a tool that is in perfect running condition. If it's "almost new" I might think about 75% ... but would probably convince myself that's a bad idea. The loss of warranty, plus the knowledge that Jet tools periodically go on sale for 15% off means if I'm really patient ....

Your thoughts?

 

[kp91]

Henry,

The obvious answer is "a price that you and the seller are both happy with", but that is sometimes not possible. I start at 50%, and then work up or down from there. Is the tool something special that isn't made anymore? Then the price is higher. Are there hundreds of them for sale on the market, the price goes down. Did the previous owner build an incredible table to hold it, include jigs and accessories? The price goes up. Did he leave it in the bed of his truck, or loan it to his brother-in-law, etc? the price goes WAY down.

I have had good luck and bad luck with some sales. If something has been on Craigslist 90 days, his price is too high, don't be afraid to offer a lower price. I have had to work my price down to get something to sell. I acquired a King Seeley jointer a while back for nuthin'. It was in rough shape, so I cleaned it up, rebuilt the base, and gave it a good tune up. I put it up on the market for $60, but nobody was interested. A few months later I lowered it to $45, still nothing. I finally added OBO to the listing, and got a nibble. After the potential buyer hemmed and hawed for 15-20 minutes, I asked him if he would take it away for free. I needed the square footage more than the jointer.

My air compressor was a different story. I bought a small, quiet air compressor and put my 30 gal compressor on the market. It was in good shape, I just didn't need it anymore. I put it on the market for $100, because I wanted it gone. No nibbles. I lowered it a bit, a couple of nibbles, but all no-shows. I pulled it for a few months, then tried again. I finally sold it, and the buyer thought that it must have been something wrong with it at that price.

Everybody haggles differently. Some price high to start, expecting to haggle down. Some set their rock bottom price and won't move from it. Some buyers offer a ridiculous low price to get the counter offer they want, some are just cheap, insulting,........ individuals.

I have on more than one occasion made a low (but fair) offer for something, and when rejected told the seller that he should keep me in mind if he can't get his price. It took a while, but the call came.

So, long story short, there is no easy way to 'price' used tools.

 

[woodknots]

Henry - I'm of the same mind as Doug. I've bought a lot of used tools on Kijiji (Canada's version of Craigslist), but have never paid anywhere near what they cost in a store. I've bought a used 14" King band saw for $100, a Delta 12" planer for $150 with the stand, a Delta 12" variable speed drill press for $100 - they still work great and I was happy with the price. If I had the option of buying from a private seller for $650 or from the store for an extra $65, I'll go to the store every time - get the warranty and know I can go back to the store if I have an issue.

The issue I see today, and I'm scouring Kijiji all the time, is that some of these sellers are out of their mind and think that they're selling a family heirloom. Nope, they're used tools.

I'd walk.

 

[Cherryville Chuck]

I've been trying to sell a brand new in the box, never used, 10" SCMS for $100 less than the stores best sale price and still haven't gotten rid of it yet in 6 months. Generally the most you should be paying should be about 75%. No warranty but still in very good shape about 50% max. down to 25%. Old and worn have other considerations. If it was a really well made tool with a sturdy frame and the motor is replaceable then you have to search your heart for what you're willing to pay.

 

[JOAT]

And then there's the 'buyers' who want to get something for nothing, or close to it. I had a nice flute quite awhile back, case and all. Wasn't going to do anything with it, so wanted to sell it. Wound up making an even trade for a used but pretty high quality scrollsaw, worth considerably more than the flute. So, I'd suggest, rather than keep lowering the price of something, go for a trade. Might get some cash AND something you can use that way.

 

[RainMan 2.0]

Henry , that guy is either rich and doesn't have to sell , or clinically insane . I'm lucky to get 50 cents on the dollal for brand new tools still in the box on a very good day .

 

[hawkeye10]

About a year ago I had a very nice Remington shotgun that I was trying to sell. I had it listed for several months at a fair price with no calls. I then raised the price and sold it within a week. That is a old trick that works sometime.:smile:

 

[MikeMa]

Except for a select few premium brands of tools (Jet is not one), my general rule of thumb is shoot for 50% of TODAY'S retail value on the tool (or equivalent if that model is no longer available). And that is assuming the tools are in good condition. In my opinion, unless they are really high-end accessories (i.e., a Forest WWII Blade) they don't really add a whole lot of value to the tool. The seller would be better off selling the accessories separately. For the deal in the original post, I would be looking to spend $650-$700 with accessories, or $600-$650 without. Much more than that, you might as well get the new tool with the warranty and support, as well as knowing you got all the accessories that should be included. For other accessories, especially for something like sanding sleeves, a savvy shopper can get them fairly inexpensively.

Premium brands, I have seen go for 80-90% of new on the used market. These would include:
Powermatic
Festool (I have seen these sometime go for over 100% retail for discounted or limited availability tools)
Lie-Nielsen
Veritas

 

[comp56]

i came across a couple of tools just yesterday. these tools are brand new never been used but are 2 years old. They were purchased for a school and were never delivered. What would you say a good starting point would be for this case. They lost invoice and can't remember what they paid......

 

[RainMan 2.0]

i came across a couple of tools just yesterday. these tools are brand new never been used but are 2 years old. They were purchased for a school and were never delivered. What would you say a good starting point would be for this case. They lost invoice and can't remember what they paid......

Omg your killing me Tony

 

[honesttjohn]

Put your tongue back in your mouth, Rick. They're just GENERALS!!!

 

[Herb Stoops]

I would give you a dollar apiece and you pay shipping.
Herb

 

[RainMan 2.0]

Put your tongue back in your mouth, Rick. They're just GENERALS!!!

:lol:

 

[Cherryville Chuck]

i came across a couple of tools just yesterday. these tools are brand new never been used but are 2 years old. They were purchased for a school and were never delivered. What would you say a good starting point would be for this case. They lost invoice and can't remember what they paid......

If the warranty is extended due to lack of use then 10% off list. If no warranty then -25%.