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View Akedad12's profile

Pricing used tools for sale

by Akedad12
posted 02-14-2018 11:31 PM


16 replies so far

View fuigb's profile

fuigb

565 posts in 3519 days


#1 posted 02-14-2018 11:42 PM

Not enough info ^ for anyone to offer meaningful advice. Post pics.

-- - Crud. Go tell your mother that I need a Band-aid.

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Akedad12

6 posts in 662 days


#2 posted 02-15-2018 12:05 AM

https://s3.amazonaws.com/vs-lumberjocks.com/p4603uq.jpg!

Trying to post pictures- don’t know if it worked! Jet jointer is a m/n JJ60S. 1 hp motor. Mortiser has 5 chisels. 1/2 hp

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Akedad12

6 posts in 662 days


#3 posted 02-15-2018 12:07 AM

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ChefHDAN

1489 posts in 3410 days


#4 posted 02-15-2018 12:14 AM

Where are you located?

-- I've decided 1 mistake is really 2 opportunities to learn.. learn how to fix it... and learn how to not repeat it

View fivecodys's profile

fivecodys

1530 posts in 2197 days


#5 posted 02-15-2018 12:29 AM

First of all,
My condolences for your loss.

It would help to know roughly where the tools are located. That will help with people on this site that might be interested in what you have for sale.

You might also look in your community to see if there is a local wood-working club. They have probably dealt with estate issues like this before and might be very helpful.

Again,
Very sorry for your loss.

-- When you leave your shop for the night, make sure you can always count to 10.

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Akedad12

6 posts in 662 days


#6 posted 02-15-2018 12:32 AM

Thanks for the condolences! He was a great guy. I am in Cincinnati Ohio area. Thanks for the tips!

View JBrow's profile

JBrow

1368 posts in 1481 days


#7 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!

View avsmusic1's profile

avsmusic1

542 posts in 1246 days


#8 posted 02-15-2018 02:42 AM

I would suggest you also consider alternative models your used equipment will be competing with. For example, you can get a brand new grizzly 6” jointer with a closed stand for $600 before shipping. Respectfully, I’m not sure the Jet brand is worth much of a premium over that of a grizzly, so you’d likely need to price notably lower than a new comparable model in similar brands

Put simply, in CT, used 6” jointers are probably in the 300s

View socrbent's profile

socrbent

900 posts in 2830 days


#9 posted 02-15-2018 02:50 AM

Suggest you check out EBTH.com – online auction company based in Cincy specializing in estate sales. I’ve been following for several months and wood working tools seem to get good prices.

-- socrbent Ohio

View jonah's profile

jonah

2092 posts in 3860 days


#10 posted 02-15-2018 04:49 AM

The jointer is probably worth $300 max. It’s a standard Taiwanese 6” jointer. The open stand is a negative. Ask for $350 and take the first $275 offer you get.

View Woodknack's profile

Woodknack

12945 posts in 2941 days


#11 posted 02-15-2018 04:50 AM

Used tool prices vary a lot by region. You really need someone local. Try contacting a local woodworking store and asking about clubs in the area. Not only will they know the value, they will be the buyers.

-- Rick M, http://thewoodknack.blogspot.com/

View Mike_D_S's profile

Mike_D_S

598 posts in 2776 days


#12 posted 02-15-2018 05:05 AM

The regional pricing variations do count for a lot. 50% of new comparable pricing is a good rule of thumb as a start. But the concept of comparable means looking at other brands as well.

In some areas that jointer might be $300 or less, but in Houston good condition used equipment is not that common and sells quickly, so here $400 to $500 might not be out of line for that jointer.

Around me mortisers are not as high demand as a jointer, so you might expect to take a little less or be willing to list it for longer. While other pieces of good condition equipment move pretty quickly on CL here, mortisers tend to sit for a bit.

Mike

-- No honey, that's not new, I've had that forever......

View CaptainKlutz's profile

CaptainKlutz

2036 posts in 2055 days


#13 posted 02-16-2018 11:10 AM

As others have said, you have to worry about comparable equipment prices, and availability of these tools at time of sale in your local region. If you have luxury of unlimited time to sell, then it is easier to find right buyer, or right time to get a higher price for your used equipment.

In the 4 different states I have bought/sold tools (including Ohio), this is my rule of thumb:
Ask 60% of list, expect to get 40-50% when sold.
This assumes: you bought it new, light use, and like new condition.
Most typical wood working tools will sell for 50-60% of list prices assuming you have time to wait for the sale.
If you desire a quick sale, then asking 40% of list (or 50% of comparable tool list) usually makes things disappear quickly.
If you are 2nd owner of used tools, then average resale rate is about 30-35% of list.

Agree with several others here:
Used Taiwan made 6” long bed jointer can be had for less than $350 by anyone with time to shop for it.
The mortise machine is hard to sell due limited market compared to mortise hand chisel?
Also, Harbor freight used to put their version on sale for $99, and after spending $50 for Jet/Delta mortise bits to replace HF junk bits, they worked pretty well. I see HF units for sale <$100 about once a month in Phoenix. HF no longer sells the mortise machine, but it poisoned local market with <$200 prices regardless of brand for entry level <1HP mortise tool.

Best Luck

-- I'm an engineer not a woodworker, but I can randomly find useful tools and furniture inside a pile of lumber!

View Charlie H.'s profile

Charlie H.

393 posts in 1211 days


#14 posted 02-16-2018 08:41 PM

My condolences for your loss.
The tools are all old enough they are all out of production.
From the photos the Jet jointer is probably the best tool there and it’s not the top model that was available when it was purchased.
Roughly equivalent tablesaw brand new at Lowes $600, roughly equivalent jointer brand new at Home Depot $600, equivalent planer from Amazon $263, I can’t tell what is in the back next to the garage door.
if the Craftsmam bandsaw is one of the ones that tilted the blade instead instead of the table it is unique in that design, but not in a favorable way.
A new entry level 14” bandsaw is $450 at Lowes.
Good luck to you and your families.

-- Regards, Charlie in Rowlett, TX --------I talk to myself, because sometimes I need expert advice.---------

View Akedad12's profile

Akedad12

6 posts in 662 days


#15 posted 02-18-2018 10:55 AM

Only tools for sale are the jointer and mortise and tenon machine!

View Mike_D_S's profile

Mike_D_S

598 posts in 2776 days


#16 posted 02-18-2018 03:15 PM

So if I summarize the consensus answer:

A. If you are in an area where there is an active market for used equipment on CL and there are comparable items listed, then Maybe $250-$350 for the jointer, $125-$175 for the Mortiser and $25 for the jig.

B. If you are in an area where your listings may be the only ones for equipment of this quality, then $350-$450 for the jointer, $150-$225 for the mortiser and $25-$50 for the jig.

I did a quick look at the Cincinnati CL and didn’t see that much WW equipment for sale in general (though it was a one day snapshot look). I’d go ahead and post at the higher prices, hold tight on the prices for a week and then start taking offers. Since there aren’t 50 listings for jointers, etc, you won’t get lost by waiting and you can always edit the ad later.

If you have people that are definitely interested but not at the list price, then simply tell them the truth. “I am helping sell this equipment for an estate and feel a personal obligation to try and get the highest prices. If it doesn’t sell for asking within a reasonable time, I can contact you to discuss your offer.”

Reasonable people will get it and if they are really interested they will agree. The low ballers and other lookers will be filtered out.

Mike

-- No honey, that's not new, I've had that forever......

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