Snap-on tool set used value

[AgentBishop]

Hello all,
I recently inherited a complete US Set 5 Snap-On tool set with tool boxes. Looked them up new on the Snap-on site and saw they were over $30k new! Unfortunately I just don't have a use for a $30k set of tools and feel like I'm wasting them setting in the garage not being used...except for the basic screw drivers and such. So I'm considering selling them but can't get a good idea of the value. After reading that the warranty isn't transferrable (which seems to be more of a legal point than a general policy of snap-on), I don't know if I can say they have "lifetime warranty" when selling to someone.


Was hoping someone could give me an idea of fair market value (in Va).

 

[Strouty]

Do some craigslist research, the value is based on what someone would pay, I will give you a dollar.

By the way, this is a terrible first post.

 

[AgentBishop]

Definitely a terrible first post...my apologies.

 

[AgentBishop]

I have been looking around on craigslist but its mostly just socket sets or tool boxes and such. Any google searches I made about Snap-on led me here...so I figured I'd ask.

 

[Strouty]

You will never find one person to pony up for all the tools, at least not for a good price, they will want to steal them from you. I increase my offer to $2.

 

[Handyandy23]

Why so cranky and hostile? Clearly the answer is "the value is what someone will pay for it", the question is what's a reasonable starting point?

I don't have a good answer for you either, but I would suggest you might be better off selling it off in chunks rather than all together. You'll probably end up getting more money for it all, and it'll make it easier to gauge value. You're not going to find a lot of for sale ads with a whole $30k tool set to get an idea of the 'going rate', but you can probably find for sale ads for Snap On socket sets, wrench sets, etc and sell them off in smaller sub sets that way. Might make it more manageable.

It would also help to do your research on individual pieces since some tools get discontinued or changed over time, and people will pay a premium for those that like them (if this is an older set).

Overall 'parting it out' will be more time consuming, but I think you'll get yourself much better value and have an easier time unloading it. If you just post it up as one big lot for $**.** then you'll probably end up with a bunch of lowball offers on people that want to chunk it out and resell.

 

[OHMS LAW]

I’d post it all on Offer up. 30k obo. Someone will hot that magic number that makes sense for both parties

 

[OHMS LAW]

But realistically I’d be happy with 15k if it’s as valuable as you say it is. Or sale it a set at a time. That’s a good way to get fair value. Just takes longer

 

[AgentBishop]

Thanks Handyandy23...I appreciate the feedback. I guess I'll do some research on the value of the individual sets and just part it out on ebay or craigslist. It just occurred to me that's what everyone else did and that's why there is mostly only tool boxes on craigslist(local)...no one wants to ship a big tool box.

It's a newer set, maybe 5 years old.

I could use a tractor for the farm...maybe someone will trade! hmmmm...

 

[Stooge]

Maybe try it over on the Snap on Buy/Sell/ Trade facebook group, but depending on the asking price and what you present in your ad, they can be a little brutal over there, but theres serious buyers as well
https://www.facebook.com/groups/481972415215768/

 

[Strouty]

Final offer, $3, but you pay the shipping.

 

[AgentBishop]

Thanks Stooge...I'll check it out!

 

[Evan(CA)]

You wont get 10k for all of them from a single person. You either spend the hundreds of hours researching, posting, replying, shipping to increase profit or you let someone break it off in you because they are willing to do the above.

 

[lowside67]

If this is the set:
https://store.snapon.com/US-Set-5-Complete-US-Set-5-P641842.aspx

That is badass. The condition matters, but in like new condition, I think you'd get $5k for the toolbox alone and probably $10k for the tools if you sold them in small lots over time.

-Mark

 

[AgentBishop]

If this is the set:
https://store.snapon.com/US-Set-5-Complete-US-Set-5-P641842.aspx

That is badass. The condition matters, but in like new condition, I think you'd get $5k for the toolbox alone and probably $10k for the tools if you sold them in small lots over time.

-Mark

That's the set!
Great condition and in working order. Drawers have foam cut outs for all the tools too.

 

[Handyandy23]

Thanks Handyandy23...I appreciate the feedback. I guess I'll do some research on the value of the individual sets and just part it out on ebay or craigslist. It just occurred to me that's what everyone else did and that's why there is mostly only tool boxes on craigslist(local)...no one wants to ship a big tool box.

It's a newer set, maybe 5 years old.

I could use a tractor for the farm...maybe someone will trade! hmmmm...

Couldn't hurt to post the set up locally for trade for a tractor and see if anyone bites. I find that a surprising number of people want to make random trades of goods, probably because they don't have much cash on hand. You might get lucky and find someone with a tractor they don't use much anymore that would like a shiny set of tools they couldn't otherwise afford.

Also in these trades it seems like people tend to get better value. Rather than posting a $30k tool set for $15k, and get haggled down to $10k, you might be able to trade for a used tractor that had similar value to the tools new. Trading used for used people are more just happy to get what they want in one transaction rather than the haggling mindset of paying cash.

 

[JVB]

Couldn't hurt to post the set up locally for trade for a tractor and see if anyone bites. I find that a surprising number of people want to make random trades of goods, probably because they don't have much cash on hand. You might get lucky and find someone with a tractor they don't use much anymore that would like a shiny set of tools they couldn't otherwise afford.

Also in these trades it seems like people tend to get better value. Rather than posting a $30k tool set for $15k, and get haggled down to $10k, you might be able to trade for a used tractor that had similar value to the tools new. Trading used for used people are more just happy to get what they want in one transaction rather than the haggling mindset of paying cash.

I agree, put it for trade only . For a vehicle tractor etc. this will get you the most out of it and a vehicle could be traded in or sold easier to obtain a tractor.

While it is possible I just do not see you getting even half of that value selling it as one. You would make more to part it out by sets if you have the time. Even then 15k seems to be hard to reach.

 

[AgentBishop]

Couldn't hurt to post the set up locally for trade for a tractor and see if anyone bites. I find that a surprising number of people want to make random trades of goods, probably because they don't have much cash on hand. You might get lucky and find someone with a tractor they don't use much anymore that would like a shiny set of tools they couldn't otherwise afford.

Also in these trades it seems like people tend to get better value. Rather than posting a $30k tool set for $15k, and get haggled down to $10k, you might be able to trade for a used tractor that had similar value to the tools new. Trading used for used people are more just happy to get what they want in one transaction rather than the haggling mindset of paying cash.

I think that's what I'm going to try and do before I take the time to part it out. Or maybe I'll just keep it and buy an old car to work on so I can use the tools...lol

 

[JVB]

A local guy to me posts wtb ads for tools. He is usually around 35% of list price . That would be around 11k. Not sure on your location or if he would even be after something of that price but you never know.

 

[LNKMK8]

Where are you located at? I typically see Snap-on Tool boxes sell for 25% to 35% of new depending on condition, and most hand tools selling for 40% to 60% of new. A large lot like that will likely sell for less than those amounts due to the limited number of people that would be in a position to buy everything versus buying an individual item.

 

[chrismenke]

I won't try to tell you how to price your set, but I will give you some indicators you might use to better understand its value and help come up with a realistic asking price. And then I'll tell you what I think it's value is...do with that number what you wish.

First and foremost, they are no longer new tools. You've got to accept that the value hit for used is huge. Some people say a used Snap-on tool should command 50% of new pricing, but I find that really only applies to ratchets and some specialty tools. Also, if they are marked with initials or owner's marks, that will negatively impact their value. I routinely buy as new used tools when I see them at flea markets for less than 25% of MSRP, and sometimes 10% of MSRP at garage and estate sales...let's not get bogged down in MSRP (see the second point).

Two, Snap-on MSRP is much like a new car's MSRP...a suggestion. Tech students can buy that set at 50% off, so that gives you an idea of margins. Only the uninitiated and smaller public agencies pay full list. Large public agencies have industrial pricing & sharp tool truck buyers get good discounts. BOGO deals, cash discounts or the dealer needing cash can all lead to significant discounts when buying off the truck. If I were to walk on to a Snap-on truck as a cash buyer, I'd expect to pay far less than 30k. Let's just say the cost for the dealer is 20k. Does he want to sell you that set for 22k and put 2k in his pocket today, or does he want to amortize a potential larger profit over many years? Most will take the money and run.

The third thing working against that set is it is SAE biased, and we live in a metric world. Modern automotive has gone 90% metric, so you're looking at equipment, aviation, or classic car repair as the areas where and SAE bias is preferred. Less of those folks out there than modern auto techs. While the metric basics are covered in the current iteration of the set, I believe the contents of these masters sets have changed over time. It is worth confirming that the metric items are as well represented in your set as in the one advertised. In today's world, many of those SAE tools may never see use and therefore don't represent as much value to the purchaser.

Lastly the toolbox stack is less desirable to a tech than a wider lower setup. Most techs nowadays are expecting to use the top surface of their box as their workbench/desk, usually with a locking hutch on top.

So if it were me, I'd assess the real world value and decide if I wanted to have a kickass set of home tools that will last me forever, or whether I wanted to cash out. If you aren't a DIYer, cash out.

If I were walking into your garage, and the set was in perfect condition & complete I'd offer you somewhere between 5 and 7k for it. I'm in San Francisco.

I'd also agree with the folks who suggested you look for an interesting trade...

 

[AgentBishop]

Where are you located at? I typically see Snap-on Tool boxes sell for 25% to 35% of new depending on condition, and most hand tools selling for 40% to 60% of new. A large lot like that will likely sell for less than those amounts due to the limited number of people that would be in a position to buy everything versus buying an individual item.

I'm near Williamsburg Va.

 

[kenc184]

That is a nice set.
I could see someone paying $10K+, no problem although it might take repeated C.L. ads to get the right guy at the right time. For a $32K set, I'd ask $16K and be happy with anything over $10K for something that didn't cost me anything.

 

[AgentBishop]

I won't try to tell you how to price your set...
...I'd also agree with the folks who suggested you look for an interesting trade...

Thanks for the helpful info Chris. I hadn't considered much of what you mentioned.

 

[3jakes]

I'm near Williamsburg Va.

I'm going to agree with what chrismenke says.
Most folks that can pony up the cash are going to be resellers.
The boxes are not going to be an easy sell.
I've sold a larger KRL bottom box for $1800. & it took 6 months to do it.
Condition matters.
5 years of surface rust on the pliers & impact sockets will detract.
Was this a hobby set or a used every day in the shop situation?

 

[Jason280]

Condition is everything, and selling it as one set will not be easy. As mentioned above, very few people are sitting around with $10k to spend on a tool set, and those that do, will be looking to buy simply to resell. Unfortunately, even at $10k, there really isn't enough profit margin to make it worthwhile....so be ready for lowball offers.

 

[Strouty]

I have made three offers so far.

 

[Shiftless]

I have made three offers so far.

Lol

 

[mcj115]

Where did you find that set for that price? That looks like an awesome set!

A postscript to my last post, to give some more perspective on value, and cash vs retail, financed Snap-on prices.

I bought two Williams general tools sets in the past month, new, retail sale. I paid $380, the street price on these is generally $1700, and list is about $2400. Here's the tools:

Set is a Williams WSC-238 General Maintenance Set (236 Piece). Nice enough set.

Breaking it up into pieces and selling on ebay, it's hard to sell this for more than about $850 after fees. And that's breaking it down into about 20 listings. So, about $25 profit per sale. That means you have to sort, photograph, list, sell, package, and ship a set for $25 profit. Assuming you can do that in an hour, you're making less than what you could using the tools.

Tool sales just aren't the gold mine many here see them as; That's a lot of work to sell the 100 or so sets/groups/items that would be in that SO box. For maybe $2500 profit, or $25 per sale, if you were able to buy it at a price that would allow that much profit.

It would be even worse trying to sell them to 100 real buyers on craitslist; you'd probably have to deal with 600 losers to find that 100 sales.

 

[turnthewrench 2.0]

the value is based on what someone would pay, ...

Boy, you deserve the Nobel Prize!

 

[Strouty]

I accept!

 

[Shiftless]

Strouty gave us the short version of this definition I found on Wikipedia.

Fair market value (FMV) is an estimate of the market value of a property, based on what a knowledgeable, willing, and unpressured buyer would probably pay to a knowledgeable, willing, and unpressured seller in the market. An estimate of fair market value may be founded either on precedent or extrapolation. Fair market value differs from the intrinsic value that an individual may place on the same asset based on their own preferences and circumstances.

Since market transactions are often not observable for assets such as privately held businesses and most personal and real property, FMV must be estimated. An estimate of fair market value is usually subjective due to the circumstances of place, time, the existence of comparable precedents, and the evaluation principles of each involved person. Opinions on value are always based upon subjective interpretation of available information at the time of assessment.

 

[Strouty]

Just to prove I am not a cheap *******, I will offer $4 and split the shipping.

 

[AgentBishop]

I'd love to see some of the guys that come up with $10,000 or $15,000 step up and put out cash for one of these deals. I don't see it. There's a lot of difference between thinking someone else should pay $15,000, and doing it yourself, with your money.

I buy tool boxes full fairly frequently. I've probably bought 30 to 50 of them over the years. This is a bit more desirable one, if it is complete and in good condition, because it's a known quantity of what's in it.

I was interested enough in the topic that I copied the tool list out into a spreadsheet, and assigned "buy" values to each item. Then, did a % of msrp to see where I was at on most things. Then, used a blanket 25% of msrp to compare.

I totaled about $6000 or 20% of MSRP for it all. Retail is just over $30,000. I only allowed $900 for the tool boxes. I would step up and pay cash at that price, subject to inspection to make sure it is all relatively complete. Unfortunately, even if the OP was interested, I'm across the country.

I looked at what I was allocating as a percentage of MSRP. it ranged from about 10% for small, low value stuff like a utility knife, 12% for tool boxes, to about 45 to 50% for high demand, metric sockets and wrenches. To be real, very little used Snap-on will sell for approaching 50% of list.

How about one of the 50% of MSRP or $10,000 to $15,000 guys stepping up with a cash offer? Just to add validity to the appraisal.

Thanks for the breakdown in value/appraisal. This is the kind of info I needed to help me assess value for myself in resale or trade offers. I think if I was hard up for cash or something...$6000 would seem pretty enticing. I think, for me, regardless of resale value, I would prefer to keep the set than sell it for anything less than $10k-$12k.



In general, to someone starting a business or trade that needs tools like these, is there value above individual resale value for a set that includes (mostly) everything they need and is all in one purchase? No need to shop around and piece together different sets. I think that's the guy that would step up and make a cash offer in the 40-50% retail.



p.s. Minus a few small items like tape measure, goggles, and the creeper...the set is complete and largely unused. Boxes are perfect. I would also have to try and warranty a couple stripped out screw drivers and replace a broken chisel. Also, the set appears to be 50-50 SAE to metric with all the applicable tools.

 

[Handyandy23]

It makes sense that the person who could use a full set-up like this would be a new tech just getting into the field, but the problem with that is they aren't likely to have much (if any) money. Young people fresh out of school and working they up the ladder doing oil changes would love to have a full SO tool set like this, but you're not likely going to find one with $10k cash looking to give it to you, unless maybe mommy and daddy are paying the bill.

The other thing that someone else pointed out is at the tech schools the students get a 50% off deal on new Snap On. So they could already buy this same kit for $15k brand new. To buy it used you'd need to make it worth it for them. Not to mention a young tech without cash on hand can get financed through SO, and make payments, rather than drop the cash all at once.

I still think your best bets are chunking it out, or trading it (or of course keeping it). If you say some parts of the set are brand new in boxes, then you can sell those parts as BNIB and make a little more on them. The damaged stuff as you said you can try to get warrantied and then sell again as new. If you sell it as a whole kit saying "some stuff is brand new" then it's still viewed as just a used set overall (just some parts used a lot more than others).

 

[Stooge]

In general, to someone starting a business or trade that needs tools like these, is there value above individual resale value for a set that includes (mostly) everything they need and is all in one purchase? No need to shop around and piece together different sets. I think that's the guy that would step up and make a cash offer in the 40-50% retail.....

But also consider, that someone who is competent enough that they are starting a repair shop/ associated trade, is more than likely going to have a pretty complete set of tools already going into that venture and wont really have a need or want to shell out $10-$12k for doubles or triples of what they already have. Also, the person buying a set like this, most likely financed it through Snap On/ off the truck and didn't have to put all of the cash up for it. It could take awhile to sell the complete set, but I wouldn't imagine someone ponying up more than $8k at the high, and probably closer to SSdave's expectation of $6k and maybe up to mid $7k from the right person. $5k and under, I would keep them, unless something comes up and you need or want the cash. an unexpected $6k could fund a nice family/ couple's vacation

 

[AgentBishop]

Good point...

 

[Strouty]

You, as a seller, need to decide what you want, do you want to sell them and have them gone? Do you want the most amount of money? Do they mean anything to you, sentimentally?

$5 and I will pay the shipping.

 

[JVB]

It could be a bit of a gamble but snap on generally sells well on eBay. Now I am not sure if you would have to include it all as income or not but you may do well on there to break them down into smaller sets or single pieces (ratchets breaker bars etc). I am not sure what all that set includes but something alongside the following :

Wrench set sae
Wrench set metric
Wrench set stubby sae
Wrench set stubby metric
3/8” shallow sockets sae
3/8” deep sockets sae

So on....


Do some research to get an idea of each “sets” value on there and see if it would be up your alley. This would be a good days work to list them all and to ship it all out. That would only leave you with selling the box locally .

If I had 15k-20k cash into buying that new I doubt I would take the risk . But if it was inherited and of absolute no cost ignored may be worth a shot.

 

[lowside67]

For what it’s worth, I would write a check for $7500 easily if you were in WA.

-Mark