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Old 07-19-2011, 11:58 AM   #1
Yoke
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Default How to calculate market value for Snap On Tools?

So I'm going through a separation with the wife and she's being picky about things so I need to go through every item and place a market value on each tool/tool set. 90% if of my tools are Snap On, and 90% of those are used. The rest of my tools are Mac. Is there a general accepted calculation for used snap on tools like 50% of new price or something to that effect? I am aware I could easily surf through here and compare or even ebay but it would be just easier if I could go to the snap on site and to a simple calculation from their prices. Any help would be greatly appreciated. On a side note don't feel bad for me she's being pretty fair when it comes to the tools so far it's just she has an inflated image of what their market value is and I want to set her straight.

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Old 07-19-2011, 12:05 PM   #2
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Default Re: How to calculate market value for Snap On Tools?

50% isn't a bad reference point, but it varies a lot depending on the specific tool, some more valuable than others, but with a large lot 50% is likely close.

Pick a value for them and give her the option of keeping them as part of her settlement if she thinks they are worth more.
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Old 07-19-2011, 12:12 PM   #3
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Default Re: How to calculate market value for Snap On Tools?

I say 38-40% assuming you have fairly complete stuff and it is not beat to hell. A few items in like new shape with complete sets that everyone loves like rathets and wenches and screwdrivers will fetch 60-70%. Those same things with dull chrome or typical used shape will average closer to 35-40%. Most everything else will average 30% of retail at online auction or other common sale methods. I buy and sell alot and my #'s are pertty accurate in general. Random odd pieces will be closer to 10% sometimes. tatoo your name on them now and loose some value.....may help with the settement...lol. If you were smart like us, you already lied to her about how much you have invested in tools. Good for the devorce, bad if you die and she sells them at a yardsale for what you said you paid.....LOL

Last edited by back2class; 07-19-2011 at 12:16 PM.
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Old 07-19-2011, 12:13 PM   #4
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Default Re: How to calculate market value for Snap On Tools?

Just don't use ebay for values. With clueless chrome polishers paying more than new retail you can't get a fair market value.

It also needs to be valued as a complete wholesale package. She can't expect you to slowly sell each piece individually to get the highest price.

Last edited by tyndall; 07-19-2011 at 12:17 PM.
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Old 07-19-2011, 12:15 PM   #5
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Default Re: How to calculate market value for Snap On Tools?

In my experience 30-40% would be more accurate for hand tools, if sold as a lot, and probably at the lower end of that. Tool boxes are about 5% less. Remember that if you sell off tools on ebay you have to calculate the loss that comes in the form of eBay fees and PayPal fees. It's a soft market now, which benefits you.

I'd peruse eBay, pick some sample completed auctions, then have the sale price less fees calculated.
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Old 07-19-2011, 12:19 PM   #6
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Default Re: How to calculate market value for Snap On Tools?

I think you are going to have a tough time if you try to value them below 50%. Definitely not worth the grief.
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Old 07-19-2011, 12:19 PM   #7
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Default Re: How to calculate market value for Snap On Tools?

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Originally Posted by tyndall View Post
Just don't use ebay for values. With clueless chrome polishers paying more than new retail you can't get a fair market value.
That's some good advice. DO NOT USE EBAY. If you have any green, blue, pink or orange color hard handles those things go crazy high sometimes to the collector in good shape.

I think back2class gave you some good advice because it really depends on what you are selling.
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Old 07-19-2011, 12:22 PM   #8
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Default Re: How to calculate market value for Snap On Tools?

The main trouble with ebay is that most sellers are savvy to what sells for the most, they check the completed auctions and only list the items that sell for higher prices. Craigslist is worse since all the ads you "see" are wishful fantasy asking prices, things with good prices sell fast and the ads get pulled once sold.

If you post some pictures of your tools, including info like engraving, a much better estimate could be offered.
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Old 07-19-2011, 12:32 PM   #9
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Default Re: How to calculate market value for Snap On Tools?

Someone brings up a good point, as a "lot" selling all at once you are looking at 30% max, I would think closer to 20% of retail. This assumes you have a the "typical" mechanics stash of about a double bank about 80% full with about $6,500 in new retail worth of hand tools of which about 25% will be "junk" with no real resale value"
You would get your best prics as a lot if you had a small stash like the tech school kids have. That will be small enough for many to afford and only have the basics that are the best sellers. You will get killed if you are a master tech with 100k in tools and try ans sell as a lot. In that case nobody has that kind of cash or wants your special xyz brand specialty tools and you are looking at 10% or retail value for the lot.
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Old 07-19-2011, 12:36 PM   #10
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Default Re: How to calculate market value for Snap On Tools?

I'd say DO use e-bay. Sure a tool may not be worth more than 40-50% of it's original value, but if you can split things up and get more for them by placing them on e-bay, why not. After all, the definition of "market value" (and I'm paraphrasing here) is what an asset would trade for in an auction setting.
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Old 07-19-2011, 12:37 PM   #11
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Default Re: How to calculate market value for Snap On Tools?

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Originally Posted by Danglerb View Post
Pick a value for them and give her the option of keeping them as part of her settlement if she thinks they are worth more.
I like this. Reminds me of when my ex's lawyer was chest thumping, demanding selling the house and splitting the profits. I told him we just bought the house, the market went down and there would be agent fees. If she wanted to split the $20k loss it was ok by me.

Quote:
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If you post some pictures of your tools, including info like engraving, a much better estimate could be offered.
If someone knew they were keeping their tools forever and didn't mind devaluing them, engraving would be a easy way to do it.
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Old 07-19-2011, 12:47 PM   #12
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Default Re: How to calculate market value for Snap On Tools?

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Originally Posted by ARAMP1 View Post
I'd say DO use e-bay. Sure a tool may not be worth more than 40-50% of it's original value, but if you can split things up and get more for them by placing them on e-bay, why not. After all, the definition of "market value" (and I'm paraphrasing here) is what an asset would trade for in an auction setting.
I dont think he is selling - He has to find a value to give to his ex-wife- in this case using ebay is a bad idea. The guys here have a good point - if you sell as a lot it's going to be worth much less then parting them out. I dont know if this would be acceptable to her attorney or not?
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Old 07-19-2011, 12:50 PM   #13
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Default Re: How to calculate market value for Snap On Tools?

Quote:
Originally Posted by ARAMP1 View Post
I'd say DO use e-bay. Sure a tool may not be worth more than 40-50% of it's original value, but if you can split things up and get more for them by placing them on e-bay, why not. After all, the definition of "market value" (and I'm paraphrasing here) is what an asset would trade for in an auction setting.
This situation doesn't allow for sitting around, selling individual sockets for months just to get a buck more each. It's about the value of the assets liquidated right now. Ebay is not representative of a true auction setting. Local value is more important that nationwide value.
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Old 07-19-2011, 12:52 PM   #14
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Default Re: How to calculate market value for Snap On Tools?

Quote:
Originally Posted by ARAMP1 View Post
I'd say DO use e-bay. Sure a tool may not be worth more than 40-50% of it's original value, but if you can split things up and get more for them by placing them on e-bay, why not. After all, the definition of "market value" (and I'm paraphrasing here) is what an asset would trade for in an auction setting.
Are you by any chance the attorney for his wife?
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Old 07-19-2011, 01:20 PM   #15
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Default Re: How to calculate market value for Snap On Tools?

If you use the tools to earn a living she would have NO claim to them. When I divorced my ex wanted cash to "allow" me to keep my tools. The judge didn't see it that way as they were required for working in my trade. Without them she would have not received her "half" of anything since there wouldn't have been anything. I've got every one of them. They were not included or considered in the settlement.
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Old 07-19-2011, 01:25 PM   #16
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Default Re: How to calculate market value for Snap On Tools?

This is why I will NEVER get Married.
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Old 07-19-2011, 01:26 PM   #17
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Default Re: How to calculate market value for Snap On Tools?

Personally I would use the date stampings on the tools any of them with a date stamp before the marriage would not be included in the estimate for one large sale figure 30 cents on the dollar , if they are owners marked deduct more
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Old 07-19-2011, 01:30 PM   #18
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Default Re: How to calculate market value for Snap On Tools?

Insurance companies have a formula to value used tools there must be a way of getting that information.
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Old 07-19-2011, 01:35 PM   #19
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Default Re: How to calculate market value for Snap On Tools?

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Insurance companies have a formula to value used tools there must be a way of getting that information.
insurance companies pay more than real world value when insured properly
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Old 07-19-2011, 01:45 PM   #20
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Default Re: How to calculate market value for Snap On Tools?

its too bad us guys don't feel the need to keep receipts for all the "disposable" items our spouses buy over the years like shoes, clothing, make up, etc. i have a good buddy going through a nasty divorce at the moment and i can't believe the things he tells me about the lawyers, what his soon to be ex is entitled to, and all the other stuff involved. it all sounds like a racket and seems criminal when you think about it logically.

best of luck in your situation.
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