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Forum topic by reamck posted 05-02-2019 08:10 PM 967 views 0 times favorited 22 replies Add to Favorites Watch
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reamck

5 posts in 542 days


05-02-2019 08:10 PM

So let me start with a back story, I am currently living in an apartment while my new house is being built and I had most of my household belongings in storage (including every tool I owned). Well, recently my storage unit was broken into and the thief took off with every tool and a few misc other items. Now, I have the task of replacing everything and cannot decide how to go about it. In total I lost about $18k worth of tools and the insurance company has given me just under $3k to replace everything.

With the new house I had planned on building a lot if not most of the furniture to put in it and this has put a bit of a damper on that.

My goal here is to get some advise on where to start/splurge/be frugal. Before I had the Rishi’s 4512 and of course it got the job done but I always wanted a nicer saw.

Now here is my conundrum, do I use half of my budget on a nicer saw (a grizzly/shop fox/legume) and purchase fewer other items like routers Sanders what not. Or, do I get another similar saw to what I had (ridged/delta) and use the savings to replenish more things?

Lastly I do not want to tirelessly search craigslist for the right deal so I will be buying whatever I buy new rather than used.


22 replies so far

View Kirk650's profile

Kirk650

680 posts in 1631 days


#1 posted 05-02-2019 09:02 PM

That’s awful. If I had to totally “re-tool”, I’d look for buying from old guys that are no longer woodworking.. That’s what my brother did, and he got a full shop of well used tools.

View DrDirt's profile

DrDirt

4614 posts in 4625 days


#2 posted 05-02-2019 09:06 PM

Do your upgrades… take it as an opportunity to retool the way you wanted to, in a way it is a chance to “sell” the saw you had planned to upgrade, for full retail price, and go buy what you want.

It does mean that you get less stuff, but like me, I have a number of tools I don’t often use, and wouldn’t buy again if I were doing it over (like the Leigh D4R great tool, used it twice)

-- “The two most important days in your life are the day you are born and the day you find out why.” Mark Twain

View mike02719's profile

mike02719

256 posts in 4669 days


#3 posted 05-02-2019 09:27 PM

Very sorry for your situation. Your storage unit bears some responsibility for the theft. Talk to a lawyer about a small claims suit. You also have some rights under the tax code. The same lawyer could assist you in this too. My tools are very dear to me and I would be distraught if any one stole them.

-- Mike, Massachusetts

View CaptainKlutz's profile

CaptainKlutz

3722 posts in 2377 days


#4 posted 05-02-2019 10:04 PM

Wow, sorry to read this news.

+1 look on CL for package deal.
Here in AZ, package deals are very common from retirees.

Your profile doesn’t list where you are located.
If approximate location as known might some folks willing to help you search for replacements?
Plus, There are also folks here with extra tools laying around, wink, wink.

Best Luck on rebuilding shop tool collection!

-- If it wasn't for bad luck, I wouldn't have no luck at all, - Albert King - Born Under a Bad Sign released 1967

View Charlie H.'s profile

Charlie H.

405 posts in 1533 days


#5 posted 05-02-2019 11:33 PM

Why the huge discrepancy between your valuation and the insurance company valuation ?
They have to actually provide justification for loss valuation.
For instance if you lost a 3hp SawStop and they only wanted to payout $1500 they have to justify that by finding a secondhand one at their payout price.

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

View JCamp's profile

JCamp

1229 posts in 1434 days


#6 posted 05-03-2019 12:21 AM

So sorry for you loss. Keep searching craigslist and Facebook. Call up all the pawn shops and Mayb you’ll get some of your old tools back

-- Whatsoever thy hand findeth to do, do it with all thy might

View TungOil's profile

TungOil

1383 posts in 1378 days


#7 posted 05-03-2019 12:29 AM

It sounds like you should talk to an insurance advocate, you insurance company is ripping you off. You don’t have to settle for their offer you know….

-- The optimist says "the glass is half full". The pessimist says "the glass is half empty". The engineer says "the glass is twice as big as it needs to be"

View reamck's profile

reamck

5 posts in 542 days


#8 posted 05-03-2019 12:41 AM



Very sorry for your situation. Your storage unit bears some responsibility for the theft. Talk to a lawyer about a small claims suit. You also have some rights under the tax code. The same lawyer could assist you in this too. My tools are very dear to me and I would be distraught if any one stole them.

- mike02719


Yea I was very upset for a while (theft happened back in feb.

View reamck's profile

reamck

5 posts in 542 days


#9 posted 05-03-2019 12:42 AM



Wow, sorry to read this news.

+1 look on CL for package deal.
Here in AZ, package deals are very common from retirees.

Your profile doesn t list where you are located.
If approximate location as known might some folks willing to help you search for replacements?
Plus, There are also folks here with extra tools laying around, wink, wink.

Best Luck on rebuilding shop tool collection!

- CaptainKlutz


I’m in the Houston Area, And I have seen a couple of these retirement sales however most are till outside of my price range.

View reamck's profile

reamck

5 posts in 542 days


#10 posted 05-03-2019 12:46 AM


Why the huge discrepancy between your valuation and the insurance company valuation ?
They have to actually provide justification for loss valuation.
For instance if you lost a 3hp SawStop and they only wanted to payout $1500 they have to justify that by finding a secondhand one at their payout price.

- Charlie H.


well, I had 2 policies on the unit kinda. I have renters insurance for my apartment and unit insurance with the storage facility.the reason for the huge dicrepancy is because in the fine print of the unit policy they ut a blanket limit of $2500 for everything which I got the full amount. Additionally with the renters insurance there was a sub limit on tools specifically of $500.

oh and a lot of the stuff was given to me by my grandfather before he passed so i had no proof of purchase.
Those are the things that really hurt to lose. antique stanley hand plans in mint condition.

So, If there is anything to take from this REALLY read the fine print and put a motion activated hunting game camera in your storage unit just in case. it could have helped me figure out who did it.

View reamck's profile

reamck

5 posts in 542 days


#11 posted 05-03-2019 12:47 AM



So sorry for you loss. Keep searching craigslist and Facebook. Call up all the pawn shops and Mayb you’ll get some of your old tools back

- JCamp

Yea, I’ve been on those every day searching for anything to no avail.

View runswithscissors's profile

runswithscissors

3118 posts in 2908 days


#12 posted 05-03-2019 01:45 AM

The thief is probably going to sell your stuff. Check out not only CL locally, but the surrounding areas. And pawnshops are supposed to record any transactions when they buy tools. Not that they all do that. Would you have a way to positively identify any of your tools?

I’d also try posting a wanted ad on CL, naming particular tools (such as the ones you value most) that you would like to buy. Don’t let on, of course, that you are the one who got ripped off.

-- I admit to being an adrenaline junky; fortunately, I'm very easily frightened

View JCamp's profile

JCamp

1229 posts in 1434 days


#13 posted 05-03-2019 01:05 PM

You know…... unless there were other units broken into it seems very odd that yours was chosen at random…. someone may have targeted yours. Like the owner or someone at a house nearby that could see what all u were unloading into it.

For what your original question was, it depends on what you wanna build. For me my table saw and various other saws are my most used tools so for me I’d invest (after I’d moved and the saw was NOT in that storage unit) in a nice table saw (used if u can) and then buy a few other quality tools to get started, then buy lesser quality tools that are seldom used.
Also check on FB for any local wood working clubs and see if anyone there has some used tools they would want to sell

-- Whatsoever thy hand findeth to do, do it with all thy might

View Fred Hargis's profile

Fred Hargis

6505 posts in 3376 days


#14 posted 05-03-2019 01:24 PM

Man, that sucks. My only input here is to upgrade as much as possible as you go.

-- Our village hasn't lost it's idiot, he was elected to congress.

View Fresch's profile

Fresch

506 posts in 2804 days


#15 posted 05-03-2019 02:25 PM

Put your money into the tablesaw first; the rest can be picked up as you go.
We have members that don’t have power tools that produce things by hand I could never achieve by hand or with power tools! I do have a nice selection of BFH’s for when the going gets tough! :)

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