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Reply by JBrow

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Posted on Pricing used tools for sale

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JBrow

1368 posts in 1339 days


#1 posted 02-15-2018 02:21 AM

Akedad12,

This is a difficult question to answer and one I have wrestled with in my estate planning. I am a hobbyist whose tools were expensive and have endured light use. I have regularly counseled my heirs to ensure that my tools fetch a fair price. Since I am the only woodworker in the family and fearing my heirs might grossly undervalue some of the tools, I offer the general rule to expect no less than 50% of the “if bought new” price of the item, but generally to ask 2/3s of the “if bought new” price.

However, my goal is to maximize financial gain to the estate and therefore it could take some time to settle my estate. An alternative goal could be to settle the estate as soon as possible even if it means accepting less than market value for the assets. Whatever the goal, perhaps my personal above-listed guidelines are of some help.

After a quick scan of the www, I did not see the open stand Jet jointer offered new. The current Jet 6” jointers start at about $1000 new. Pricing your brother’s Jet jointer at $675 could be a good initial asking price. From the photo, it appears in good condition and there were only two jointers on the Dayton Craigslist (which includes Cincinnati) when I checked; $495 and $2000, neither are Jet.

A new Delta benchtop mortiser sells for $400. One Dayton Craigslist mortiser is priced at $200. But Mt. Gilead, where it is offered, is in the middle of nowhere in Ohio, therefore an initial asking price of $300 in Cincinnati might sell the mortiser.

I suspect you would be lucky to get $25 – $50 for the Delta tenoning jig, but asking $75 might be a good asking initial asking price.

It may also be worth a telephone call to the Cincinnati Woodworking Club. I am not sure they would be of any help, but perhaps they host a message board where used woodworking equipment is offered for sale or can better direct you:

http://www.cincinnatiwoodworkingclub.org/

Sorry for your loss and good luck in selling your brother’s equipment!


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