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Ratchet Survey Results & Follow Up Ratchet Survey

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Bolster

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There were a number of people who wanted non-USA ratchets surveyed, and a few more US brands were also elected for survey. While the main ratchet survey is now closed, the new follow-up ratchet survey is now open:

https://www.surveymonkey.com/s/R6HQP9T

Here are the results of the previous ratchet survey. Best way to read this is simply length of line, which represents the total number of people who would buy a particular brand of ratchet. Within a line you can see the amount that people say they're willing to spend.

Since there were so many ratchets tested, it's a little difficult to see/read the names. Sorry about that. Top brands are in this order: Snap-on new, Snap-on old, Cornwell, Mac, Matco, SK, Proto, Armstrong...those represent the "royal 8" at the top of the list, with new Snap-on head and shoulders above the rest. For this question, n = 222.

Ratchet222.png


Comment for the ankle-biters who carped on methodology and insisted I was specifying prices too high (most common objection: "Hell, I wouldn't spend them prices!"): No, I wasn't. This data came out about perfect, with neither ceiling nor floor effects. Relax, and let a trained researcher do his job!
 
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expatriated

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These are very interesting, Bolster. I appreciate you doing all this.

The way the question is posed automatically eliminates certain brands. My favorite, Toptul, for example. When a brand new one is around $20, no one would ever pay $50 or $25 for a used one. $10 is even questionable. Also, even if a person hated Snap-on and were never planning on using it, they'd buy used ones at $10 or $25 cause they could probably resell them for more. So, this question is more about which ratchets are considered most valuable (price-wise) in the secondary market, not necessarily prized for quality relative to price, correct? Or maybe, I should just let you explain what exactly this chart is telling us?

I would like to see a question posed that if you had to purchase a ratchet at full-retail price, which brand would you be most likely to pick? Would that give a better picture of what people are buying to actually use? That would eliminate the "potential resale/investment" value that may be in the equation. Or does that matter?
 
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oldtools

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Can't believe Craftsman is way up there. I thought it would be way way below.
 
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Bolster

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Hi Expat -- My interest is the used market, not new, so that's where I concentrated. I want to know what rats to pick up when I'm hunting. For that purpose the data answers the question. For different questions you need different designs. Regarding "automatically eliminated," I'll bet you're wrong, but if you're right, the data will tell us. You are predicting a floor effect (see my comment to the ankle biters in initial post). Given that a number of people were willing to spend $10 for the most obscure brands in the previous survey, I'll bet sufficient people will pay $10 for a TopTul and we won't see a floor effect. But we must wait and see. If you are right, I'm turning over the survey burden to you!
 
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kc-steve

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Nice job Bolster. One of the surprises for me is the ranking of Craftsman, and I don't recall your survey indicating "vintage" or otherwise. Just my thoughts, but the newer Craftsman aren't quite the same as the older ones, so that is my surprise. :)

At least it looks like the graph for Craftsman is heavily leaning toward the $10 number anyway. More so than others.

Thanks,
Steve
 
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Bolster

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expatriated said:
...some people...
Click to expand...

You are familiar with outliers, yes? You never examine outliers as a measure of central tendency.

Cman is almost entirely populated with $10 purchasers. Cman is a widely recognized brand.

I don't see anything surprising about Cman's ranking -- these rankings tend to be highly confounded with familiarity for the brand.
 
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expatriated

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Bolster said:
Hi Expat -- My interest is the used market, not new, so that's where I concentrated. I want to know what rats to pick up when I'm hunting. For that purpose the data answers the question. For different questions you need different designs. Regarding "automatically eliminated," I'll bet you're wrong, but if you're right, the data will tell us. You are predicting a floor effect (see my comment to the ankle biters in initial post). We had none in the previous survey. Given that a number of people were willing to spend $10 for the most obscure brands in the previous survey, I'll bet sufficient people will pay $10 for a TopTul and we won't see a floor effect. But we must wait and see.
Click to expand...

Ok, that makes sense. Personally, I wouldn't take a chance on a used Toptul for $10 when another $10 gets me a brand new one, but I think that brand in particular will probably never hold the secondary market like SO, Matco and the like. The initial cost of Toptul will never be as high. Maybe they hold their value as a percentage of initial cost, but never in a dollar to dollar comparison.

But, I see your point. If looking for resale opportunities, that question is precisely worded to give you those results.

Thanks for the explanation. I really like these hard number, statistical posts. Beats the heck out of "Snap-on rocks and Craftsman *****. And they both do just because" arguments :)
 
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Bolster

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Totally agree with you Expat...Like you I'd buy new for another $10. But have you seen what sells on eBay? How close the prices sometimes are to new...sometimes higher? Makes you wonder. Glad you like the stats. Me too. Still just opinions, but more of them, in an organized fashion. Not entirely worthless.
 
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expatriated

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Bolster said:
You are familiar with outliers, yes? You never examine outliers as a measure of central tendency.

Cman is almost entirely populated with $10 purchasers. Cman is a widely recognized brand.

I don't see anything surprising about Cman's ranking -- these rankings tend to be highly confounded with familiarity for the brand.
Click to expand...

I understand. I'd just appreciate you forwarding those people that would pay $50 for a used Craftsman. Just tell them to meet me outside of my local Sears. I'll be coming out to sell them their $50 ratchets. How many do they want? :lol_hitti
 
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usdemt

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Bolster correct me if I am wrong here, but to me the survey is not based on what is the best, most comfortable, strongest, most used, or any of that but rather the value of used ratchets to help provide data on what to buy to re sell, and what pricing the used market is willing to pay.
 
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Bolster

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You have to interpret results in the light of the question. I look at it, as a measure of popularity. I wanted to know what brands I should be watching for on the used market, and I have a decent idea now of which are likely to be worth the investment.

Your point is taken. Sometimes popularity is at odds with quality. Madonna (the singer) had little vocal talent--a thin flat nasal voice with little range--but tremendous marketing talent. On the other hand, and in other areas, people are pretty good at spotting quality. Maserati doesn't do much advertising but people recognize it as quality.

Survey did not ask or answer questions about comfort, strength, quality, etc, but I'll bet the ranking would be a decent proxy for at least some of those other variables. When you get into the "unknown" range of ratchets, then people probably have no idea of inherent quality (I sure as heck don't--is a Giller or a Westcraft good?), and default somewhat to brand name recognition or lack of it.
 
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swami2806

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kc-steve said:
Nice job Bolster. One of the surprises for me is the ranking of Craftsman, and I don't recall your survey indicating "vintage" or otherwise. Just my thoughts, but the newer Craftsman aren't quite the same as the older ones, so that is my surprise. :)

At least it looks like the graph for Craftsman is heavily leaning toward the $10 number anyway. More so than others.

Thanks,
Steve
Click to expand...

Yeah, I agree--Like for my favorite--blackhawk--I put $50 as tops, but that would be for the very old and still working or rare tools. For a proto-blackhawk 1/4, 3/8, I wouldn't pay more than $20 including shipping for a ratchet in decent shape, maybe a little more for a 1/2 in decent shape.

Very nice job on the survey.
 
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Bolster

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Hi guys... you may be waiting for the results from the ratchet follow-up survey...fact is, not enough people have taken the poll to give us useful data (only 15 responses). Going to have to extend the collection period. If you can help us out please do:

https://www.surveymonkey.com/s/R6HQP9T
 
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