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Reply by BlackRock

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Posted on I am selling my entire home shop

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BlackRock

4 posts in 90 days


#1 posted 04-10-2020 04:31 PM

I will clarify that the 2/3 of new rule of thumb was something that is extremely relevant when attending auctions/estate sales.

One great thing about being self-employed living in the northeast is that there are always auctions/estate sales with woodworking equipment. Over the last 20 years I was constantly buying and selling to upgrade my equipment when the opportunity arose. Most people don’t go to these auctions because many times they are on a weekday morning. The people that do show up tend to be serious bidders and it’s easy to get into a bidding war if the equipment is in good condition.

More often than not, the equipment listed for sale is incomplete with little to no pictures available before the day of the auction. When you get to an auction, you need to assess everything and come up with a fair price. Once the auction starts, it’s very important to know how high to bid if multiple people are bidding.

So to clarify, my pricing is based on my history of buying and selling as I was upgrading my shop. The definition of a “fair” price can differ greatly based on whether you are the buyer or seller.

I will add that I have a few people who are supposed to be coming over to look at the whole shop in the next week or so. If that falls through, then I will separate the equipment for sale. I was initially looking to sell everything separately but with the whole Covid-19 pandemic, I thought it would be in my best interest to attempt to sell it all together to limit unnecessary exposure to other individuals.


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